BENGALURU: Over nine lakh direct jobs have been created by the DPIIT (Department for Promotion of Industry and Internal Trade) recognised start-ups in the last six years with a 64 per cent increase in 2022 over the average number of new jobs created in the last three years.
About 48 per cent of start-ups are from Tier II and III cities says the Economic Survey 2022-23. From 43,000 jobs in 2017, start-ups have created 269,000 jobs in 2022. Also, employment levels have increased in the current financial year.
The Periodic Labour Force Survey (PLFS) shows that the urban unemployment rate for people aged 15 years and above declined from 9.8 per cent in the quarter ending September 2021 to 7.2 per cent in the quarter ending September 2022.
Job creation appears to have moved into a higher orbit with the initial surge in exports, a strong release of pent-up demand, and a swift rollout of the capex.
Since export growth is plateauing and the pent-up release of demand will have a finite life, it is essential that capex continues to grow to facilitate employment in the economy, at least until such time the global economy rebounds and, through the export channel, provides an additional window to India for job creation, the survey added.
The Economic Survey also mentions the National Career Service (NCS) project that was launched in July 2015. As on 5 January 2023, 2.8 crore job seekers and 6.8 lakh employers have registered in the NCS portal, 2.5 lakh active vacancies and 1.2 crore total vacancies have been mobilised.
The government approved the National Green Hydrogen Mission on Jan 4, 2023, with an initial outlay of Rs 19,744 crore. The Survey says that by 2030, this will create over 6 lakh jobs. Also, the Production Linked Incentive (PLI) schemes have the potential to generate over 60 lakh jobs.