On Thursday, Union Labour Minister Mansukh Mandaviya announced that employment in India grew by 36%, reaching 64.33 crore in 2023-24 from 47.15 crore in 2014-15. This growth reflects significant job creation during the NDA government’s tenure.
Addressing the media, Mandaviya highlighted that employment under the UPA government grew by only 7% between 2004 and 2014.
2.9 crore jobs were added during this period, compared to 17.19 crore jobs created under the Modi government between 2014 and 2024.
Additionally, he added that approximately 4.6 crore jobs created in the last fiscal year alone (2023-24).
The data gains importance amid rising pressure on the government to create jobs.
Mandaviya pointed out that employment in the agriculture sector declined by 16% during the UPA’s tenure (2004-2014) but grew by 19% during the Modi government’s tenure (2014-2023).
Similarly, the manufacturing sector witnessed only a 6% growth in employment under the UPA, compared to a 15% increase under the Modi government.
In the services sector, employment rose 25% during the UPA regime and 36% during the NDA tenure.
The unemployment rate (UR) fell from 6% in 2017-18 to 3.2% in 2023-24, while the employment rate (WPR) increased from 46.8% to 58.2% during the same period.
The Labour Force Participation Rate (LFPR) also grew significantly, rising from 49.8% in 2017-18 to 60.1% in 2023-24.
Highlighting the increase in formal sector employment, Mandaviya noted that over 4.7 crore youths (aged 18-28) joined the Employees’ Provident Fund Organisation (EPFO) between September 2017 and September 2024.
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