The recent research report by Citigroup on Employment in India, which has been quoted by some of the print and electronic media, raises concerns about the country’s ability to create sufficient employment opportunities, especially considering the impact of the pandemic.
However, it is important to note that this report fails to take into account the comprehensive and positive employment data available from official sources such as the Periodic Labour Force Survey (PLFS) and the Reserve Bank of India’s KLEMS data, a PIB press release stated.
This report is in stark contrast to the positive trends and comprehensive data from official sources, which indicate that the country has generated over 8 crore (80 million) employment opportunities from 2017-18 to 2021-22, averaging over 2 crore (20 million) employment per year.
Data from the Periodic Labour Force Survey (PLFS) shows that the employment rate has increased significantly in recent years, with the labour force participation rate (LFPR) rising from 49.8% in 2017-18 to 57.9% in 2022-23. This trend is also reflected in the data from the Reserve Bank of India’s (RBI) KLEMS survey, which shows a decline in the unemployment rate from 6.0% in 2017-18 to a low of 3.2% in 2022-23.
The government remains committed to creating a robust and inclusive job market, and there is evidence of progress in this direction. A large number of new employment opportunities have been created in recent years, and the unemployment rate is currently at the lowest level in decades. This positive trend is expected to continue in the coming years, as the country continues to focus on key sectors like manufacturing, expanding service sector, infrastructure growth, and others.