Between 2012 and 2018, the country had created only 4 million non-farm jobs, on an annual basis
NEW DELHI: India needs to create 90 million non-farm jobs between 2023 and 2030 to absorb new workers and an additional 30 million workers who could move from farm work to more productive non-farm sectors, McKinsey Global Institute said in a report on Wednesday.
“To absorb this influx, the country will need about 12 million additional gainful non-farm jobs every year starting in fiscal-year 2023, triple the four million non-farm jobs created annually between 2012 and 2018. If an additional 55 million women enter the labour force, at least partially correcting historical underrepresentation, India’s job creation imperative would be greater,” said the report titled India’s Turning Point: an economic agenda to spur growth and jobs.
Post the covid-19 pandemic, annual gross domestic product (GDP) growth of 8% to 8.5% will be required with continued strong productivity growth and faster employment growth than in the past, it added.
Source: livemint
