In the last five years, total employment has increased from 53.44 crores in 2019-20 to 64.33 crores. In the financial year 2022-23, the ‘agriculture, hunting, forestry and fisheries’ sector employed 25.3 crore persons.
India has added about 4.7 crore jobs during the financial year 2023-24. This information has been received from the data of the Reserve Bank of India (RBI). With this, the total number of employed people in 27 sectors of the economy has increased to 64.33 crores. At the end of March 2023, the number of people employed in these 27 sectors was 59.67 crores. RBI has published these figures on its website under the title ‘Industry Level Productivity Measurement – India KLEMS Data’. Here KLEMS stands for Capital (K), Labor (L), Energy (E) Material (M) and Service (S).
Number of employed people increased by 6%
The data covers 27 industries of the entire Indian economy. Thus, the number of people employed in 27 sectors including agriculture, trade and financial services increased by six percent in 2023-24. Whereas in the previous financial year it had increased by 3.2 percent. According to KLEMS data, total employment increased from 53.44 crores in 2019-20 to 64.33 crores in the last five years. According to the report, in the financial year 2022-23, the ‘agriculture, hunting, forestry and fisheries’ sector employed 25.3 crore persons. This figure was 24.82 crores in 2021-22.
More than 8 crore employment opportunities created
Apart from this, the sectors providing notable employment included construction, trade and transport and storage. RBI said that the document ‘India KLEMS Database Version-2024’ has been prepared to promote economic growth and research in its key areas. According to government data, India created more than 8 crore employment opportunities during 2017-18 to 2021-22. Thus, an average of more than two crore jobs were created per year and this was seen despite the economic ill effects of the Kovid-19 epidemic during 2020-21. According to the statement, this significant employment generation reflects the efficiency of various government initiatives aimed at promoting employment in various sectors.
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