Union Labour Minister Mansukh Mandaviya has reported a significant increase in employment under Prime Minister Narendra Modi’s administration, with 17.19 crore jobs created between 2014 and 2024, compared to 2.9 crore jobs during the United Progressive Alliance (UPA) tenure from 2004 to 2014.
Source:- bbc news
Employment Growth Statistics
Overall Employment Increase: Employment rose by 36% to 64.33 crore in 2023-24 from 47.15 crore in 2014-15 under the Modi government.
Source:- bbc news
UPA Period Comparison: During the UPA’s decade-long governance, employment grew by approximately 7%, adding 2.9 crore jobs.
Sector-Specific Employment Growt
Agriculture Employment increased by 19% between 2014 and 2023 under the Modi government, whereas it declined by 16% during the UPA’s tenure from 2004 to 2014.
Manufacturing The sector saw a 15% rise in employment from 2014 to 2023 under the current administration, compared to a 6% increase during the UPA period.
-Services: Employment grew by 36% between 2014 and 2023 under the Modi government, surpassing the 25% growth observed from 2004 to 2014 under the UPA.
Recent Employment Trends
In the fiscal year 2023-24 alone, approximately 4.6 crore jobs were created.
Unemployment Rate**: Decreased from 6% in 2017-18 to 3.2% in 2023-24.
Employment Rate (WPR)**: Increased from 46.8% in 2017-18 to 58.2% in 2023-24.
Labour Force Participation Rate (LFPR)**: Rose from 49.8% in 2017-18 to 60.1% in 2023-24.
Formal Employment Growth
Over 4.7 crore youths aged 18-28 joined the Employees’ Provident Fund Organisation (EPFO) between September 2017 and September 2024, indicating a shift towards formal employment.
These statistics highlight the Modi government’s emphasis on job creation and economic development, reflecting a substantial increase in employment across various sectors compared to the previous UPA administration.
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