In response to Citigroup’s concerns about job creation in India, the government has emphasized positive trends in employment based on official data. The Ministry of Labour and Employment disputed the findings of the Citigroup report, noting that it did not take into account vital sources like the PLFS and RBI’s KLEMS data.
According to official statements, the Citigroup report’s predictions about India’s employment future overlook the wealth of positive data available. The Ministry cited the RBI’s KLEMS data, indicating that over 80 million jobs were generated between 2017 and 2022, with significant annual job growth.
Furthermore, the government highlighted encouraging statistics from the PLFS, showing improvements in labor market indicators. The Worker Population Ratio and Labour Force Participation Rate saw positive growth, while the unemployment rate decreased significantly.
With over 6.2 crore new subscribers to EPFO and a rise in NPS subscriptions, the government reiterated its dedication to nurturing a strong and inclusive job market in India. By focusing on the official data available, it paints a more optimistic picture of the country’s employment landscape.
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