Modi Govt’s Employment Initiatives Show Positive Growth Trends: Report

New Delhi: In light of the upcoming elections, employment has become a focal point, particularly following the recent International Labour Organization (ILO) report highlighting India’s youth comprising 83% of the unemployed workforce.

According to an in-depth analysis conducted by ANI using data from five reputable sources, including the Periodic Labour Force Survey (PLFS), EPFO, RBI, National Career Services (NCS) portal, and various government job-intensive schemes, a notable growth in job opportunities has been observed over the past few years under the Modi government.

The PLFS data spanning the last six years showcases an encouraging trend in labour participation rate and worker population ratio. Employment rates have risen from 46.8% in 2017-18 to 56% in 2022-23, with a corresponding decline in the unemployment rate from 6% to 3.2% during the same period. Both rural and urban areas have seen reductions in unemployment rates, with significant drops observed among females and youth.

Moreover, the employment landscape for educated individuals has improved significantly. Graduates and postgraduates alike have experienced increased employment rates, with noteworthy growth in sectors such as finance, insurance, construction, manufacturing, transportation, storage, IT, and communications.

Analysis of EPFO data indicates a substantial influx of new members, with 6.1 crore individuals joining over the past six years. Similarly, the latest RBI KLEMS database reveals an estimated increase in employment from 47 crore in 2013-14 to 55.3 crore in 2021-22 across various industries and sectors.

The government’s National Career Service (NCS) portal, aimed at connecting employers with job seekers, has witnessed a remarkable rise in job vacancies, with a 214% increase in 2023-24 compared to the previous year. Key sectors experiencing significant job growth include finance, insurance, construction, manufacturing, transportation, storage, IT, and communications.

Furthermore, government policy initiatives such as the Pradhan Mantri Mudra Yojana (PMMY), Atmanirbhar Bharat Rojgar Yojana (ABRY), and schemes like MGNREGS, PM SVANidhi, and PMEGP have contributed to job creation. Flagship programs such as Make in India, Start-up India, Digital India, Smart City Mission, Housing for All, and infrastructure development have also played a vital role in fostering employment opportunities.