Union Labor Minister Dr Mansukh Mandaviya on Thursday announced that India’s employment rate has seen significant growth under the Modi regime from 2014 till now, standing at 64.33 per cent in 2023-2024.
This reflects better job creation during the NDA period with an increase of 36 per cent from Rs 47.15 crore in 2014-15.
The minister highlighted that only 2.9 million additional jobs were created under the UPA government between 2004 and 2014, while the figure rose to 17.19 million jobs under the Modi government between 2014 and 2024. Citing RBI data, the minister claimed that employment increased from 44.23 crore in 2014 to 47.15 crore in . 2023-24.
In the last year (2023-24) alone, the Modi government has created around 4.6 crore jobs in the country, the minister said.
Sectoral breakdown
Agriculture: The minister said that in the agriculture sector, employment increased by 19 per cent between 2014 and 2023 under Modi, while it decreased by 16 per cent between 2004 and 2014 under the UPA government.
Manufacturing: Employment in the manufacturing sector increased by only 6 per cent between 2004 and 2014 during the UPA rule, while it was a high 15 per cent between 2014 and 2023 under the Modi government.
Services: He also mentioned that employment in the service sector grew by 25 per cent from 2004 to 2014 during the UPA rule, while it expanded by 36 per cent from 2014 to 2023 under the Modi government.
He also stated that the unemployment rate (UR) fell from 6 per cent in 2017-18 to 3.2 per cent in 2023-24 and simultaneously, the employment rate (WPR) grew from 46.8 per cent in 2017-18 to 58.2 percent.
The Union Minister also mentioned that the Labor force participation rate (LFPR) increased from 49.8 percent in 2017-18 to 60.1 percent in 2023-24.
He noted that in the last seven years, from September 2017 to September 2024, in the formal labor market, more than 4.7 million young people, in the age group of 18 to 28 years, have joined the Organization of the Employees Provident Fund (EPFO).
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