According to the report prepared by the Economic Research Department of SBI based on RBI data, "Even if we exclude agriculture, the total number of jobs created in manufacturing and services during FY 2014-23 was 8.9 crore and 8.9 crore in FY 2004." -6.6 crores during 2014."
Total employment reported by micro, small and medium enterprises (MSMEs) registered with the MSME ministry has crossed the 20 crore mark, data from the enterprise registration portal shows.
As of July 4, 4.68 crore Udyam-registered MSMEs reported 20.19 crore jobs, including 2.32 crore jobs by GST-free informal micro enterprises, up 66 per cent from 12.1 crore jobs in July last year, according to the ERD. The analysis showed.
"An interesting fact emerges when we compare EPFO (Employees Provident Fund Organisation) data with RBI's KLEMS (Capital/K, Labour/L, Energy/E, Materials/M and Services/S). When we used KLEMS The FY24 share at 28 per cent was significantly lower than the average share of 51 per cent over the 5-year period (FY19-FY23), as the EPFO data primarily captures low-income jobs, The falling share is quite encouraging and indicates that "potentially better-paying jobs are becoming available in the economy," said Soumya Kanti Ghosh, group chief economic adviser at SBI.
Total employment reported by micro, small and medium enterprises (MSMEs) registered with the MSME ministry has crossed the 20 crore mark, data from the enterprise registration portal shows.
As of July 4, 4.68 crore Udyam-registered MSMEs reported 20.19 crore jobs, including 2.32 crore jobs by GST-free informal micro enterprises, up 66 per cent from 12.1 crore jobs in July last year, according to the ERD. The analysis showed.
"An interesting fact emerges when we compare EPFO (Employees Provident Fund Organisation) data with RBI's KLEMS (Capital/K, Labour/L, Energy/E, Materials/M and Services/S). When we used KLEMS The FY24 share at 28 per cent was significantly lower than the average share of 51 per cent over the 5-year period (FY19-FY23), as the EPFO data primarily captures low-income jobs, The falling share is quite encouraging and indicates that "potentially better-paying jobs are becoming available in the economy," said Soumya Kanti Ghosh, group chief economic adviser at SBI.
