Indian economy is well on its way to reaching the vision of the Prime Minister of a $5 trillion USD economy in 2024-25. Economic growth positively impacts the creation of jobs. In the last calendar year Budget 2021-22 provided an increase of nearly 50% in the amount for public investment, which will help boost.

economic activity. With Premier Narendra Modi guiding the implementation of economic growth, the country continues to gain from this multiplyer effect.1 Budget 2022-23 has also been a major catalyst for expansion, with capital expenditure a major component of

The rate of growth accelerated in 35.40 percent, rising to an impressive 7.50 Lakh crore from Rs 5.54 Lakh crore in the present FY. This amount, which amounts to roughly 2.9 percent of GDP, will not only boost economic growth but will also help increase employment opportunities within the country.

Current Macro Economic Trends

The continuous campaign by the Government to channel funds into the economy and give an injection of energy to the economy is beginning to bear outcomes despite the massive setbacks and disruptions triggered by the COVID-19 disease over the last two years. Certain indicators of economic growth, such as jobs

participation in the organized sector, growth in the numbers of companies that are registered, increase in the number of start-ups , rapid increase in the number of Unicorns in the country. the rise in job opportunities in emerging sectors like AI cloud computing data analytics, automation in IT/ITES, etc. All of these indicate the creation of more jobs in the nation.

• A surge of EPFO Subscriptions: A review of EPFO data suggests a significant increase in the formalization of the employment market by 2021. In November of 2021, the net monthly addition of EPF subscription reached its peak with 13.95 thousand new EPF subscribers, which was the highest ever since the year 2017. This is equivalent to growth of 109.21 percent EPF subscriptions starting in November 2020. According to the Economic Survey further states that the net monthly increase in EPF subscriptions in 2021 is not just greater than the comparable value in 2020 but also exceeded those of the same months in the year prior to the pandemic.
• A key lesson From PLFS Data The estimates of the Worker Population Ratio (WPR) for those who are 15 years old or older which is defined as the ratio of people employed to the total population on a normal status during the period 2017-18 to 2019-20 have demonstrated an increase in trend, while the estimated unemployment rate on a regular basis for people aged 15 years and over has shown a declining trend. The estimates of the Labour Force Participation Rate (LFPR) for males and female workers those aged 15 years or more on a normal status basis in 2019-20 are 76.8 percent and 30.0 percent, respectively. It is estimated that the Unemployment Rate (UR) as well as The Labour Force Participation Rate (LFPR) and the Worker Population Rate (WPR) have almost reached levels before the outbreak in the second quarter of 2020-21 according to the Periodic Labour Force Survey Data.
• Sector-wise trends In the latest survey report of EPFO’s Quarterly Employment Survey (QES) and EPFO payroll information, Union Labour and Employment Minister Shri Bhupender Yadav has stated that job opportunities are increasing across the country, and that the government headed by Shri Narendra, the Prime Shri Narendra is committed to the welfare of workers and labourers. Shri Narendra is committed to the well-being of workers and laborers from both the sectoral and non-organized ones.
• QES indicates an increase in Employment The estimate of total employment in the nine sectors selected for the current round of QES July-September of 2021, was 3.10 crore approximately 2.10 lakhs more than the estimated number of employees (3.08 crore) in the first cycle of QES (April-June 2021). It is worth mentioning that the total number of jobs for the nine sectors together was recorded to be 2.37 millions in the sixth Economic Census (2013-14).

The AQEES (All-India Quarterly Establishment-based Employment Survey) is used to provide regular (quarterly) updates on the work and related factors of establishments both unorganized and organized segments of nine specific industries that comprise the bulk of total work force in establishments that are not farms. The nine sectors that have been selected include Manufacturing, Construction, Trade, Transport, Education, Health, Accommodation & Restaurant IT/BPO, as well as Financial Services.

The key highlights of the report for the second quarter of QES, as part of AQEES5.

• In the total number of jobs in the sectors of interest Manufacturing made up nearly 39% of the total, followed by education with 22 percent and Health, and IT/BPOs each approximately 10 10%. The Transport and Trade sectors employed 5.3 percent and 4.6 percent of the estimated number of workers, respectively.
• The overall percent of female employees stood at 32.1 which was higher than 29.3 percent recorded during the initial session of QES.
• Regular workers comprise 77% of workforce of the different areas, with only 2% being casual workers. In the Construction industry 20 percent of employees were contractual, and 6.4 percent were casual workers.
• It’s a bit pleasing to see that 16.8 percent of establishments offered formal skills training programs, though they mostly targeted their employees. The study revealed that 5.6 percent of the establishments had vacancies for jobs and the amount of vacancies total were 4.3 lakhs. Around 65.8 percent of these jobs were not due to resignation or retirement of employees.

Central & State Government Initiatives to Generate Employment Opportunities

• UP Sewayojan: the Uttar Pradesh Sewa Yojana was launched by the Honourable Chief Minister of Uttar Pradesh Shri Adityanath Yogi ji. This is an employment site, with the help of the state’s educated citizens who are unemployed in the state will be able easily locate online jobs. This is because the Uttar Pradesh state government is will provide jobs for the youngsters of over 70 district in the state in this scheme. State government officials have invited 10th,12th and graduate pass students to apply to apply for jobs under the scheme. As part of this program the government of India will choose qualified applicants to 72000 vacant positions. It is mandatory for any interested person to sign up on the official website of the agency to avail the benefits of this scheme.
• District Uttarakhand: Employment Centre is an organization that provides assistance to job seekers in accordance with the qualifications and experiences. Its Department of Employment in various states of India lets unemployed young people living in the states they reside in to apply for job openings prior to registration that are open in various areas within the respective states. The registered job seekers can verify their status on the job-seeking list online across several states. They also help job seekers to search for appropriate jobs or study their resume. Employers can post their job open positions at these centers and choose applicants from the list according to their needs. Employed and unemployed people looking for new jobs are able to be employed in their state to find employment opportunities. Register at the centers.