January 2014 News
An estimated 12 million people will join the farm workforce by 2018-19, compared with a decline of 37 million in agriculture employment between 2004-05 and 2011-12.
Nonfarm employment is expected to increase by only 38 million between 2011-12 and 2018-19 compared with 52 million between 2004-05 and 2011-12.
The Indian economy is estimated to grow at six per cent per year in FY 2013-19 instead of the 8.5 per cent growth rate FY 2005-12.
Less labour-intensive services such as financial, real estate and business services (including IT-ITES) are growing In FY 2012, these services, accounted for 19 per cent share in GDP, but employed only 3 out of 100 workers in the economy.
India needs policies to raise the demand for labour but providing special support to labour intensive sectors (manufacturing sector is labour intensive), by simplifying labour laws and debottlenecking labour-intensive industries such as textiles, gems and jewellery and leather.
http://www.thehindu.com/business/Economy/nonfarm-jobs-to-shrink-by-25-pc-in-7-years-crisil/article5550168.ece?ref=sliderNews
Employment Statistics India - 12 Five Year Plan - 2012 -17
Updated 18 March 2017, 27 October 2014
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