In a statement delivered during the Question Hour in the Lok Sabha, Labour and Employment Minister Dr. Mansukh Mandaviya reported a significant decrease in India’s unemployment rate, which now stands at 3.2%. The Minister attributed this achievement to the current government’s strategic policy interventions and expressed optimism that the rate will dip below 3% in the near future.
Dr. Mandaviya praised this year’s Union Budget for its ambitious employment and skilling initiatives, emphasizing a substantial commitment to youth employment. According to the Minister, the Prime Minister’s package aims to provide job and training opportunities for over four crore young individuals over the next five years, with an allocation of two lakh crore rupees designated to meet this objective.
The Minister highlighted recent improvements in key labor market indicators, noting that the Labour Force Participation Rate (LFPR) has risen to 44%, while the Worker Population Ratio (WPR) has increased to 40%. These figures reflect a positive trend in workforce engagement and job availability.
Particularly noteworthy are the advancements in rural employment. Dr. Mandaviya reported a dramatic decline in the rural unemployment rate from 5.3% in 2017-18 to 2.4% in 2022-2023, as per the Periodic Labour Force Survey (PLFS). Additionally, the Worker Population Ratio in rural areas has surged from 48.1% to 59.4% over the same period, underscoring the substantial growth in job opportunities in these regions.
Yes what the article is saying we can understand it but we have more problems than wgat we actually saw
Unemployment especially among the youth is the stumbling block for the nation. Every govt. should priorities in generating employment and creating more opportunities.
according to what basis is the govt declaring that unemployment rate is falling while we see is rise in unemployed youths.