Mumbai, India added about 4.7 crore jobs during 2023-24, taking the total number of people employed across 27 sectors covering the entire economy to 64.33 crore, according to Reserve Bank data.
The number of people employed at the end of March 2023 stood at 59.67 crore, said the RBI's update on 'Measuring Productivity at the Industry Level-India KLEMS [Capital (K), Labor (L), Energy (E), Materials (M) Has gone. , ) and services] Database'.
Using the Tornquist aggregation formula, the RBI said annual growth in employment during 2023-24 was 6 per cent, compared to 3.2 per cent in the year-ago period.
Over the past five years, the India KLEMS database showed that total employment increased from 53.44 crore in 2019-20 to 64.33 crore during the last financial year.
The data for fiscal year 2022-23 is a provisional estimate of productivity for the overall economy.
According to data for the financial year 2022-23, 'agriculture, hunting, forestry and fishing' employed 25.3 crore people, up from 24.82 crore in 2021-22.
Construction, trade and transport and warehousing were among the major sectors providing employment in 2022-23.
RBI said the document describes the processes, methodologies and approaches used in the creation of the India KLEMS database version 2024.
"The production and publication of the India KLEMS database aims to support empirical research in the area of economic growth and its sources," the RBI said.
It said that most importantly, the objective of the database is to support the conduct of policies aimed at accelerating productivity growth in the Indian economy.
The number of people employed at the end of March 2023 stood at 59.67 crore, said the RBI's update on 'Measuring Productivity at the Industry Level-India KLEMS [Capital (K), Labor (L), Energy (E), Materials (M) Has gone. , ) and services] Database'.
Using the Tornquist aggregation formula, the RBI said annual growth in employment during 2023-24 was 6 per cent, compared to 3.2 per cent in the year-ago period.
Over the past five years, the India KLEMS database showed that total employment increased from 53.44 crore in 2019-20 to 64.33 crore during the last financial year.
The data for fiscal year 2022-23 is a provisional estimate of productivity for the overall economy.
According to data for the financial year 2022-23, 'agriculture, hunting, forestry and fishing' employed 25.3 crore people, up from 24.82 crore in 2021-22.
Construction, trade and transport and warehousing were among the major sectors providing employment in 2022-23.
RBI said the document describes the processes, methodologies and approaches used in the creation of the India KLEMS database version 2024.
"The production and publication of the India KLEMS database aims to support empirical research in the area of economic growth and its sources," the RBI said.
It said that most importantly, the objective of the database is to support the conduct of policies aimed at accelerating productivity growth in the Indian economy.
