India needs to create around 100 million new employment opportunities over the coming decade as it looks to encash its demographic surge as rise in employment can help accelerate the country's growth potential and make it inclusive, says a report. PwC's Strategy& report, 'Nagarik: Inclusive growth through large-scale employment generation', highlighted practical ways of raising employment across the country over the coming decade and noted how connecting local resources of the country's smaller districts to markets can lead to large scale employment generation. "...over the coming decade, we need to create employment opportunities equivalent to the population of five Australias. This is one of the most critical agenda items facing the country which, if tackled with foresight and energy, can help accelerate our growth and make it inclusive," the report noted. As per the report, India will need to increase its labour force participation rate (LFPR) by providing greater opportunities
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The ministry of statistics and programme implementation (Mospi) issued a consolidated report on payroll count, saying the data gave some perspective on jobs in the formal sector but not om the overall economy.The ministry cautioned analysts about a possible overlap between subscribers of the Employees' Provident Fund Organisation (EPFO), Employees' State Insurance Corporation (ESIC) and Pension Fund Regulatory and Development Authority (PFRDA), based on which the payroll estimates were established."This is the first in the series of employment-related statistics, for selected areas, that the ministry is intending to bring out on a regular basis. As the levels of employment are from various sources, there are elements of overlap and the estimates are not additive," it said.The data showed 32.7 million new subscribers to EPFO between September 2017 and February 2018. During this period, 421,665 persons subscribed to the National Pension System under PFRDA but since ESIC data is fuzzy, ..
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