A press note dated (29.6.2017) is given by MOSPI on this topic.
6.34 crore establishments (firms) are engaged in economic activities. This figure excludes firms in construction sector.
Breakup - 31% in manufacturing - 36.3% in trading, 32.6% in services
51% rural, 49% urban
84.2% do not employ any regular worker (family members only help)
11.13 crore workers are employed.
62% work in the own account enterprises and 38% work as wages/salary paid workers.
96% proprietory, 2% partnerships, 1.8% self help groups (SHG)
20% proprietors are ladies.
98.3% are perennial or permanent activities.
87% operate from fixed location, 4.4% mobile, 9% street vendors.
31% have registered with some authority or other.
Gross value added 11.53 lakh crores
Gross value added per worker 11.53 lakh crores/11.13 crore - approximately one lakh
Average emoluments of hired workers Rs. 87,544
Market value of owned fixed assets per enterprise is valued at Rs. 2,31,869
A quick conclusion is one can look for opportunities making one lakh in year by investing one lakh rupees in industry/services/trading activities.
Is unemployment a real problem in India?
According to me unemployment is not a very big problem in India at the moment. The problem of unemployment can be solved with good strategy and action plans. Why do I say it?
See this analysis of employment in India.
The quantitative dimensions of unemployment, captured in the 5th Employment Unemployment Survey (EUS) reveals the following. There has been a progressive worsening of the unemployment situation since 2011-12, as captured by the 2nd round of the EUS.
At the All-India level, the number of persons aged 15 years and above employed per 1,000 persons went down from 529 to 503. Overall unemployment rate worsened from 3.8 percent to 5 percent.
If more than 50% of the population above age 15 are employed, it is a good situation. As we know we want 30% of the student age group to be in colleges. Also we want at least one person for family to be employed at least. Which means that employment above 25% is good. 50% is very good. If means, in an average family of 4 members (including 2 elders), 2 are employed.
That does not mean unemployment is not a problem for persons seeking employment. We need to take actions to make the system more comforting persons who are seeking employment for the first time after completing their education.
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