India has witnessed impressive job growth over the past decade, with employment increasing by 36% to 64.33 crore in 2023-24, a sharp contrast to the 47.15 crore employed in 2014-15. This surge in employment highlights the success of the National Democratic Alliance (NDA) government's policies, particularly under the leadership of Prime Minister Narendra Modi. The Union Minister of Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya, made the announcement on December 21, 2024, citing the significant job creation achieved during this period.

In comparison, the United Progressive Alliance (UPA) government, which governed from 2004 to 2014, saw a much slower employment growth rate of just 7%, adding 2.9 crore jobs during that time. Under the NDA government, however, the employment rate saw a massive increase with 17.19 crore jobs created from 2014 to 2024. This job creation boom is primarily attributed to a combination of government reforms, increased investment in infrastructure, and the focus on boosting key economic sectors like agriculture, manufacturing, and services.

In 2023-24 alone, around 4.6 crore new jobs were generated, underlining the robustness of the country’s job market despite global challenges. This marks a significant achievement in meeting the growing employment demands of a large and youthful population.

The agriculture sector saw a dramatic shift under the NDA government. While the sector experienced a 16% decline in employment from 2004 to 2014 during the UPA period, it has rebounded with a 19% increase in employment from 2014 to 2023. This can be attributed to various government schemes aimed at modernizing agriculture, enhancing productivity, and providing better opportunities for farmers and rural workers.

Similarly, the manufacturing sector, which witnessed a modest 6% increase in employment during the UPA era, saw a remarkable 15% rise between 2014 and 2023. The government’s Make in India initiative, along with a focus on industrial growth, has played a crucial role in fostering job creation in this sector. The services sector, which experienced a 25% increase in employment from 2004 to 2014, surged further with a 36% increase from 2014 to 2023, reflecting the growing digital economy and expansion in sectors like IT, finance, and telecommunications.

One of the most notable developments in India’s labor market is the significant decline in the unemployment rate (UR), which dropped from 6% in 2017-18 to just 3.2% in 2023-24. This is accompanied by a marked rise in the employment rate (WPR), which increased from 46.8% to 58.2% over the same period. This reflects the growing participation of the working-age population in the labor force.

Further encouraging is the increase in the Labour Force Participation Rate (LFPR), which grew from 49.8% in 2017-18 to 60.1% in 2023-24. The rise in LFPR indicates that more individuals are actively seeking employment, further supporting the idea of a dynamic job market.

Another significant development is the increase in youth employment. Over 4.7 crore young people (aged 18-28) joined the Employees' Provident Fund Organisation (EPFO) between September 2017 and September 2024, signaling a positive shift in youth employment trends. This growing engagement of youth in formal employment schemes points to a more organized labor force and greater financial security for young workers.

The employment growth under the NDA government is a testimony to India’s commitment to creating opportunities for its burgeoning population. With targeted reforms, continuous investment in skill development, and job creation initiatives, India is positioned for continued employment growth in the coming years. This robust labor market is expected to sustain as the country works towards becoming a global economic powerhouse.

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