Over 5 Crore Jobs Created Annually in India Since 2014: SKOCH Report

New Delhi, May 13 (KNN) A recent report by SKOCH Group, titled "Employment Generative Impact of ModiNomics: The Paradigm Shifts", found that an average of 5.14 crore person-years of employment has been created every year from 2014 to 2024.

According to the study, credit-led interventions contributed an average of 3.16 crore jobs per year, while government schemes and initiatives generated 1.98 crore jobs annually during this period.

The report analysed the impact of 12 central government programs, including MGNREGS, PMAY, DAY-NULM, and the PLI scheme.

It found that a total of 51.40 crore employment opportunities were created between 2014 and 2024, with 19.79 crore from government interventions and 31.61 crore from credit-led initiatives.

Sameer Kochhar, the author of the report and Chairman of SKOCH Group, emphasised the significance of the findings.

"The report provides research-based evidence on how both credit-led employment and government schemes have significantly contributed to job creation since 2014," he said.

Notably, the study challenges the notion that small loans cannot generate employment.

Field research conducted by SKOCH Group revealed that an average of 6.6 direct jobs were created per micro-loan granted.

The report highlights the positive impact of efforts to enhance access to formal credit and government initiatives in promoting employment opportunities across various sectors.

SKOCH Group is India's leading think tank dealing with socio-economic issues, focusing on inclusive growth since 1997. The Group companies include a consulting wing, a media wing and a charitable foundation.

(KNN Bureau)