India Needs to Create 148 mn Additional Jobs by 2030
5 months, 1 week ago

India Needs to Create 148 mn Additional Jobs by 2030

Deccan Chronicle  

Chennai: India’s transformation from a rural-based economy to a services-led economy is incomplete. As the population continues to grow, India will need to create up to an additional 148 million jobs by 2030 and 324 million jobs by 2050, finds the IMF. “We find that India will need to create 148 million jobs by 2030 and 324 million by 2050 and while doing so workers shifting towards more dynamic sectors could boost GDP growth by 0.2-0.5 percentage points. Structural reforms can help India create high-quality jobs and accelerate growth,” IMF said. Talking about the Production Linked Incentive scheme, the IMF said that the multi-year cost of the existing PLIs assuming full implementation is relatively low at 0.72 per cent of FY2023 GDP and the authorities estimate they may help create up to 6 million jobs.

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History of this topic

India job outlook 2025: How IT, energy, infra, logistics will drive hiring
1 week, 1 day ago

India job outlook 2025: How IT, energy, infra, logistics will drive hiring

India Today  

Employers in India are more optimistic about increased hiring next year compared to their global counterparts. According to the latest ManpowerGroup Employment Outlook report, which surveyed 3,000 employers, 53 per cent plan to hire while 13 per cent anticipate a reduction in staffing levels during Q1 2025. Sonal Arora, country manager of GI Group Holding, stated: “Overall, 2024 was a …

India on track to increase its workforce to 457.62 million by 2028, says a new report by American software company
1 month, 1 week ago

India on track to increase its workforce to 457.62 million by 2028, says a new report by American software company

Hindustan Times  

India is on track to increase its workforce from 423.73 million in 2023 to 457.62 million by 2028, reflecting a net gain of 33.89 million workers, a report said on Wednesday. According to a report by American software company ServiceNow, emerging technology will transform talent across India's key growth sectors, generating 2.73 million new tech jobs by 2028. "AI will …

Bihar is in need of an economic plan to escape its ‘sub-Saharan India’
1 month, 2 weeks ago

Bihar is in need of an economic plan to escape its ‘sub-Saharan India’

Live Mint  

At India’s independence, an explicit government objective was to have a more egalitarian society, coupled with balanced development of different regions; active state intervention was envisaged to reduce disparities. India’s Freight Equalization Scheme introduced in 1952, which aimed to promote even industrial development by subsidizing long-distance transport of key inputs such as iron and steel, possibly contributed to this divergence. …

Upskilling India's Workforce: A Roadmap for the Future Economy
2 months, 1 week ago

Upskilling India's Workforce: A Roadmap for the Future Economy

Hindustan Times  

The article highlights the need for India to invest in skill development and upskilling its workforce to address the challenges of a rapidly changing job market. The government's recent policy aims to enhance skill development for its youth through various initiatives, including the Skill India Mission and the launch of a new scheme focused on collaborative efforts between state and …

Were eight crore new jobs created in three years?
4 months ago

Were eight crore new jobs created in three years?

The Hindu  

Employment, or the lack of it, has been a major issue of debate among economists and policy makers in India in recent years. Tailing this claim, the research team of the State Bank of India published a validating report that claimed a match between the total number of workers in the India-KLEMS database and in the NSSO’s Annual Survey of …

Job Creation Seems Better Than Before but What About Quality and Sustainability?
4 months, 2 weeks ago

Job Creation Seems Better Than Before but What About Quality and Sustainability?

The Quint  

India's job market landscape presents a complex narrative, characterised by both positive indicators and underlying anxieties. The Reserve Bank of India recently published 'Measuring Productivity at the Industry Level-The India KLEMS Database,' providing data on employment trends across 27 key industries in India. The database, spanning FY 1980-81 to 2022-23 aims to provide critical data points on economic output, worker …

Good start on job creation but more steps are needed
4 months, 3 weeks ago

Good start on job creation but more steps are needed

New Indian Express  

Ending years of handwringing, the NDA government has finally decided to tackle the issue of high unemployment in the country. Last week, presenting Budget 2025, Finance Minister Nirmala Sitharaman gave job creation the greatest shot of adrenaline, rolling out five new schemes with an unprecedented outlay of Rs 2 lakh crore. The proposed package is expected to facilitate employment and …

Economic Survey 2023-24: Economy needs to generate nearly 78.51 lakh jobs annually in the non-farm sector
5 months ago

Economic Survey 2023-24: Economy needs to generate nearly 78.51 lakh jobs annually in the non-farm sector

The Hindu  

India's workforce is nearly 56.5 crore, with more than 45% employed in agriculture, 11.4% in manufacturing, 28.9% in services, and 13.0% in construction, highlights the Economic Survey 2023-24 released by the finance ministry on July 22. It stated, “The female labour force participation rate has been rising for six years, from 23.3% in 2017-18 to 37% in 2022-23, driven mainly …

Jobs Creation, Agri Push, Skill Development, MSME Support: Govt Unveils Key Policy Focus Areas
5 months ago

Jobs Creation, Agri Push, Skill Development, MSME Support: Govt Unveils Key Policy Focus Areas

News 18  

Finance Minister Nirmala Sitharaman on Monday tabled the Economic Survey 2023-24 in Parliament, setting the stage for the Union Budget 2024-25. Skill Gap Challenge The Economic Survey 2023-24 said 65 per cent of India’s fast-growing population is under 35, and many lack the skills needed by a modern economy. In India, the government has been paying focused attention to enabling …

Labour ministry rebuts Citigroup's research report on employment in India
5 months, 2 weeks ago

Labour ministry rebuts Citigroup's research report on employment in India

New Indian Express  

NEW DELHI: The labour ministry on Monday rebutted a recent report by Citigroup which forecast that India will struggle to create sufficient employment opportunities even with a 7 per cent growth rate. The ministry in a statement said the report "fails to account for the comprehensive and positive employment data available from official sources such as Periodic Labour Force Survey …

India won't be able to create enough jobs over next decade even if economy grows 7%: Citigroup
5 months, 2 weeks ago

India won't be able to create enough jobs over next decade even if economy grows 7%: Citigroup

Hindustan Times  

India will struggle to create enough jobs for its growing workforce over the next decade even if the economy grows at a rapid pace of 7%, Citigroup Inc. said, suggesting the world’s most-populous nation will need more concerted steps to boost employment and skills. India will struggle to create enough jobs for its growing workforce over the next decade even …

IMF says India's GDP growth to moderate to 7% in 2024 and 6.5% in 2025
6 months ago

IMF says India's GDP growth to moderate to 7% in 2024 and 6.5% in 2025

Times of India  

NEW DELHI: The International Monetary Fund has forecast that India's GDP is likely to grow to moderate from 8.2% in 2023 to 7% in 2024 and 6.5% in 2025. "In India, the outlook is for GDP growth to moderate from 8.2% in 2023 to 7% in 2024 and 6.5% in 2025, because pent-up demand accumulated during the pandemic has been …

From the India Today archives (2022) | Why the Indian job scene is such a mess
6 months, 2 weeks ago

From the India Today archives (2022) | Why the Indian job scene is such a mess

India Today  

The word rises like a dirge from all sides, painting the air in hues of what seems like a permanent lament. THE HUNGER Five years ago, India’s unemployment rate stood at a 45-year-high of 6.1 per cent, according to the NSSO’s periodic labour force survey. It even claims there was a 46 per cent decline—from 51 million in 2016-17 to …

Hiring in India: 37% employers planning to increase staff strength by 2024 March
1 year ago

Hiring in India: 37% employers planning to increase staff strength by 2024 March

Live Mint  

India has one of the strongest hiring sentiments in the world over the next three months, with 37 percent of businesses planning to increase their staff levels in response to strong domestic demand, a report has stated. As per the survey, India and the Netherlands reported strongest net employment outlooks at 37 percent, followed by Costa Rica and the US …

Will PM Modi's 'one million job' drive help ease the employment crisis?
2 years, 6 months ago

Will PM Modi's 'one million job' drive help ease the employment crisis?

Business Standard  

Battered by demonetisation, pandemic and subsequent lockdowns, the Indian economy has started showing some signs of revival now. And amid these hopeful and gloomy numbers, Prime Minister Narendra Modi on Tuesday announced to give central government jobs to 1 million people in the next year and a half. If we were to assume that state employment is four times that …

India added 8.8 million jobs in April, says CMIE Report
2 years, 7 months ago

India added 8.8 million jobs in April, says CMIE Report

India Today  

In one of the largest expansions in the labour market since the beginning of the pandemic, 8.8 million people joined the country's workforce in April, as per data provided by the Centre for Monitoring Indian Economy. India's labour force increased by 8.8 million to 437.2 million in April, one of the largest monthly increases since the beginning of the pandemic, …

India’s GDP can grow to $40 trillion if working-age population gets employment: CII report
2 years, 8 months ago

India’s GDP can grow to $40 trillion if working-age population gets employment: CII report

The Hindu  

India’s Gross Domestic Product can grow from the current $3 trillion to $9 trillion by 2030, and $40 trillion by 2047, if the country’s working-age population — which is expected to increase by over 100 million people between 2020-30, is productively employed, according to a report by the Confederation of Indian Industry. ‘Golden period’ “The golden period of 30 years …

India needs to create 90 million jobs by 2030 to avoid economic stagnation
4 years, 3 months ago

India needs to create 90 million jobs by 2030 to avoid economic stagnation

Deccan Chronicle  

Chennai: India’s GDP would have to grow by 8 to 8.5 per cent annually and the country would have to create jobs for 90 million workers by 2030. Over the decade to 2030, 60 million new workers are likely to enter the workforce as per current demographic trends, and an additional 30 million workers could move from farm work to …

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