India's Economic Survey: Generating Non-Farm Jobs for 2030 and Beyond

The Indian economy needs to generate nearly 78.5 lakh non-farm jobs annually until 2030 to accommodate the rising workforce, as per the Economic Survey 2023-24. The Survey highlights the importance of creating livelihoods, declining agricultural workforce share, and calls for reforms in labor laws, technology investments, and care infrastructure.

India's economy must generate an average of nearly 78.5 lakh jobs annually in the non-farm sector until 2030, the Economic Survey for 2023-24 revealed. Tabled in Parliament on Monday, the Survey highlighted job creation as essential for catering to the growing workforce.

According to the Survey, not everyone of working age will seek jobs; some will become self-employed or employers. Beyond job numbers, the Survey emphasized that economic growth centers around generating livelihoods. It urged collaboration between governments and the private sector.

The Survey projected a decline in agriculture's share of the workforce from 45.8% in 2023 to 25% in 2047. It noted that schemes like PLI, MITRA Textile, and MUDRA could help meet the demand for 78.5 lakh annual non-farm jobs. The Survey also addressed challenges like formalizing the workforce, enabling job creation, and ensuring social security, and suggested easing compliance burdens on hiring and labor reform.