Rising Tide of Self-Employment in India's Workforce

The Economic Survey 2024-25 highlights a significant rise in self-employment among India's workforce, increasing from 52.2% in 2017-18 to 58.4% in 2023-24. This trend reflects a growing inclination towards entrepreneurship and flexible work options, supported by government initiatives aimed at fostering independent economic activities.

According to the Economic Survey 2024-25, self-employment among India's workforce has surged from 52.2% in 2017-18 to 58.4% in 2023-24, indicating a strong shift towards entrepreneurial endeavors and flexible work formats.

Presented in Parliament as part of the pre-Budget discussions, the survey acknowledges India's healthy employment growth, driven by sustained economic development. It reveals a decline in casual workers from 24.9% to 19.8%, marking a trend towards more structured self-employment.

The survey highlights notable growth among rural women, with own account workers rising from 19% in 2017-18 to 31.2% in 2023-24, and a similar trend in urban zones, climbing from 23.7% to 28.5%. Such shifts are attributed to initiatives like Mudra Yojana and Skill India, which have been crucial in promoting entrepreneurship.

(With inputs from agencies.)