India’s employment sector has witnessed a transformation under National Democratic Alliance (NDA) government, with number of employed people rising by 36% to 643.3 million in 2023-24 from 471.5 million in 2014-15.
Labour and Employment Minister Mansukh Mandaviya highlighted this significant growth, attributing it to the government’s focused efforts on job creation and economic development.
A Decade of Employment Creation
Mandaviya emphasized that the NDA government has created 171.9 million jobs during its first decade in power, compared to just 29 million jobs under the previous United Progressive Alliance (UPA) regime.
This substantial increase in employment is a testament to the government’s commitment to fostering a robust job market and addressing the needs of the workforce.
The growth in employment has been observed across various sectors. Employment in agriculture increased by 19% during 2014-23, compared to a 16% decline during 2004-14.
The manufacturing sector saw a 15% growth in employment during 2014-23, up from a 9% increase during 2004-14.
The services sector experienced a 36% rise in employment during 2014-23, outpacing the 25% growth recorded during 2004-14.
Unemployment Rate and Labour Force Participation Rate
The unemployment rate in India has decreased from 6% in 2017-18 to 3.2% in 2023-24.
Additionally, the labour force participation rate (LFPR) has increased to 60.1% in 2023-24 from 49.8% in 2017-18.
The LFPR estimates the working-age population, including those employed and those seeking jobs.
Mandaviya credited the government’s initiatives and policies for the significant improvement in employment numbers.
The focus on infrastructure development, skill development programs, and support for small and medium enterprises (SMEs) has played a crucial role in creating job opportunities and boosting economic growth.
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