Economic Survey 2024: 7.85 million non-farm jobs needed annually till 2030; over 7% fall in unemployment rate
5 months, 2 weeks ago

Economic Survey 2024: 7.85 million non-farm jobs needed annually till 2030; over 7% fall in unemployment rate

Hindustan Times  

The Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce, according to the Economic Survey for 2023-24. The rising employment of flexi workers through staffing companies can be a channel for ensuring social security for informal workers, it stated. "Consequently, the Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce," the Survey said. The demand of 78.5 lakh jobs in the non-farm sector per year, can be met by supplementing the existing schemes of PLI, MITRA Textile scheme and MUDRA, etc., it suggested.

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History of this topic

Maharashtra Polls: Mahayuti Unveils 10 Guarantees, Promises 25 Lakh Jobs
1 month, 2 weeks ago

Maharashtra Polls: Mahayuti Unveils 10 Guarantees, Promises 25 Lakh Jobs

ABP News  

Maharashtra's Mahayuti alliance unveils a comprehensive manifesto, promising significant economic relief, employment generation, and social welfare measures. The key highlights include increased monthly allowances for women, recruitment of 25,000 policewomen, a farm loan waiver, enhanced pension for senior citizens, and a focus on rural infrastructure and sustainable development.

India Needs to Create 78.51 Lakh Jobs in Non-Farm Sector: Survey
5 months ago

India Needs to Create 78.51 Lakh Jobs in Non-Farm Sector: Survey

Deccan Chronicle  

New Delhi: The government on Monday asserted that the Indian economy needs to generate around 78.51 lakh jobs annually in the non-farm sector to meet growing demand and population growth. “The Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce,” said the survey. “Casual …

Economic Survey 2023-24: Only 51% graduates employable
5 months ago

Economic Survey 2023-24: Only 51% graduates employable

The Hindu  

According to the Economic Survey 2023-24, 65% of India’s fast-growing population is under the age of 35, and many lack the skills needed by a modern economy. The 2022-23 Annual Report of the Ministry of Skill Development & Entrepreneurship notes, “as per National Single SignOn, 2011-12 report on Status of Education and Vocational Training in India, among persons of age …

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 …

Revive India’s unorganized sector to raise incomes and tackle unemployment
5 months, 1 week ago

Revive India’s unorganized sector to raise incomes and tackle unemployment

Live Mint  

The release of the Annual Survey of Unincorporated Sector Enterprises by the National Statistical Office fills an important data gap in our understanding of what is happening in the unorganized sector. The net impact of this is that the total number of workers in the unorganized sector has fallen from 111.3 million in 2015-16 to 110 million in 2022-23. While …

India’s over 400 million informal labour market requires a structural shift: ISF
6 months, 4 weeks ago

India’s over 400 million informal labour market requires a structural shift: ISF

The Hindu  

India with almost 85% informal labour, generating more than half of the country’s GDP, requires a structural shift towards structured and formal employment, said The Indian Staffing Federation, the apex body representing the country’s contract staffing industry, Suchita Dutta, Executive Director, Indian Staffing Federation observed, ‘‘The plight of lower-income and semi-skilled workers underscores the pressing need for concerted action. In …

Can India Ensure Living Wages at a Time When Workers Struggle for Minimum Wage?
8 months, 3 weeks ago

Can India Ensure Living Wages at a Time When Workers Struggle for Minimum Wage?

The Quint  

Recruitment happened through middlemen, the pay was based on piecework, and most workers preferred daily wages to avoid deductions for benefits from their already meagre income of Rs 300. Even though company hostels provided them with shelter, migrant workers were still classified as daily wage earners, receiving no benefits. Although these workers perform industrial work, qualifying them as organised sector …

India's unemployment rate hits 6-year low at 3.2% in latest government data
1 year, 2 months ago

India's unemployment rate hits 6-year low at 3.2% in latest government data

India TV News  

India's unemployment rate for individuals aged 15 and above has reached its lowest point in six years, registering at 3.2% during the period from July 2022 to June 2023, according to the Periodic Labour Force Survey Annual Report 2022-2023 released by the National Sample Survey Office. Rise in labour force participation The Labour Force Participation Rate in usual status for …

How much employment generation does the economy need? - The Hindu
1 year, 5 months ago

How much employment generation does the economy need? - The Hindu

The Hindu  

Economists associated with the government have been arguing that there is not much unemployment since enough employment is being generated. The current population increase will impact the labour force 15 years later when those born this year will potentially join the labour force. So, even though Mr. Debroy discounts circa 2003-04, children born then are precisely the ones who have …

Waiting for jobs: The Hindu Editorial on the Narendra Modi government’s plan to recruit 10 lakh personnel in 18 months
2 years, 6 months ago

Waiting for jobs: The Hindu Editorial on the Narendra Modi government’s plan to recruit 10 lakh personnel in 18 months

The Hindu  

For a nation that has had a significant demographic dividend — the working age population is much larger than the non-working age sections — finding productive employment for its youth was to be an imperative for India. Yet, in the last few years, unemployment has remained a major concern — the leaked Periodic Labour Force Survey in 2018 revealed that …

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 …

The difference in public and private estimates of employment in India
2 years, 8 months ago

The difference in public and private estimates of employment in India

Hindustan Times  

India does not have official high-frequency employment data, unlike countries such as the US, where statistics on employment, hours of work, overtime work, weekly and hourly income are available every month. CPHS overestimates the labour earnings for the pre-pandemic year According to PLFS data, the all-India average labour income in 2018-19 was ₹11,225 per month. This is 19% to 55% …

A hazy picture on employment in India
2 years, 10 months ago

A hazy picture on employment in India

The Hindu  

The two important indicators of structural transformation in any economy are rates of growth and changes in the structural composition of output and the workforce. Also, the unemployment rate in the female labour force in rural areas is far lower than the male labour force, whereas the opposite holds true in urban areas. This is despite the fact that the …

Aakar Patel | Poverty on the rise, jobs begin to vanish: Will India explode?
3 years, 3 months ago

Aakar Patel | Poverty on the rise, jobs begin to vanish: Will India explode?

Deccan Chronicle  

A few months after taking office, Prime Minister Narendra Modi said in the Lok Sabha that MNREGA would be continued only because it would show how poorly the Manmohan Singh government had performed. MNREGA guarantees 100 days of employment in the year at Rs 200 per day to each registered household, meaning that the family would receive Rs 20,000 for …

80% of India's informal workers lost jobs during COVID lockdown, 63% survived on two meals a day, shows data
3 years, 10 months ago

80% of India's informal workers lost jobs during COVID lockdown, 63% survived on two meals a day, shows data

Firstpost  

Government needs to take action regarding job security, social security benefits, food security, health benefits, and safety in the informal sector in such a way that it not only manages the current crisis, but also immunises the sector from future shocks The nationwide lockdown announced on 24 March, 2020, mandated the suspension of all services and establishments with relaxations to …

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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