India's Employment Growth Rises to 6% in FY24
| Aspect | Details |
|---|---|
| Employment Growth | Increased to 6% in FY24, up from 3.2% in FY23. |
| Total Employment | Reached 643.3 million by March 2024, up from 596.7 million in FY23. |
| Jobs Created | 46.7 million jobs created provisionally in FY24. |
| Data Source | RBI report based on National Accounts and Ministry of Labour data. |
| Citibank Report | Indicated 7% GDP growth might create only 8-9 million jobs annually. |
| Labour Department Claim | Stated over 20 million jobs were created annually between 2017-18 and 2021-22. |
| Unemployment Rate | Rose to 8% in FY24, up from 7.5% and 7.7% in the preceding two years (CMIE). |
| New Initiatives | RBI introduced provisional productivity estimates for FY24. |