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Over 7 Crore net subscribers joined EPFO in last 7 Years: Govt

By TIOL News Service

NEW DELHI, DEC 06, 2024: THE data on Employment and Unemployment is collected through Annual Periodic Labour Force Survey (PLFS) which is conducted by Ministry of Statistics and Programme Implementation (MoSPI) since 2017-18. The survey period is July to June every year.

As per the data available in latest Annual Periodic Labour Force Survey (PLFS) Reports, the estimated Worker Population Ratio (WPR) indicating employment during the last 7 years including the COVID period has increased from 46.8% in 2017-18 to 58.2% in 2023-24. During the same period, Unemployment Rate (UR) on usual status for persons of age 15 years and above has decreased from 6.0% to 3.2%. The state-wise WPR is available on the website of the Ministry of Statistics and Programme Implementation at https://www.mospi.gov.in/sites/default/files/publication_reports/AnnualReport_PLFS2023-24L2.pdf .

The Annual Survey of Unincorporated Sector Enterprises (ASUSE) exclusively measures various economic and operational characteristics of unincorporated non-agricultural establishments in manufacturing, trade and other services sector.

As per the available ASUSE reports, the estimated number of workers has increased to 10.96 crores in 2022-23 from 9.79 crores in 2021-22.

Further, more than 7 crore net subscribers have joined Employees' Provident Fund Organization (EPFO) between September 2017 and September 2024 indicating increase in formalization of the job market.

The KLEMS (K: Capital, L: Labour, E: Energy, M: Materials and S: Services) database published by Reserve Bank of India's (RBI) provides employment estimates at all India level. As per the latest data of the database, provisional estimates for 2023-24, employment in the country increased to 64.33 crore in year 2023-24 compared to 47.15 crore in 2014-15. Total increase in employment during 2014-15 to 2023-24 is about 17.18 crore.

Employment generation coupled with improving employability is the priority of the Government. Accordingly, the Government of India has taken various steps for generating employment in the country.

The various Ministries/ Departments of Government of India like Ministry of Micro, Small & Medium Enterprises, Ministry of Rural Development, Ministry of Housing & Urban Affairs, Ministry of Finance, Ministry of Textiles, Ministry of Electronics and Information Technology etc. are implementing different employment generation schemes/ programmes like Prime Minister's Employment Generation Programme (PMEGP), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY), Rural Self Employment and Training Institutes (RSETIs),  Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM), Pradhan Mantri Mudra Yojana (PMMY),  etc., which, along with increase in capital expenditure, seeks to boost employment creation. The details of various employment generation schemes/programmes being implemented by the Government of India may be seen at https://dge.gov.in/dge/schemes_programmes.

Further, Government announced in the Budget 2024-25, the Prime Minister's package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over a 5-year period with a central outlay of Rs. 2 lakh crores.

This information was given by Union Minister of State for Labour & Employment, Sushri Shobha Karandlaje in a written reply in Rajya Sabha yesterday.


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