India's workforce is estimated at nearly 56.5 crore, with over 45% engaged in agriculture, 11.4% in manufacturing, 28.9% in services, and 13.0% in the construction sector.
Digital Desk: Union Finance Minister Nirmala Sitharaman presented the Economic Survey 2024-25 in Parliament on Monday, July 22. According to the survey, approximately half of the recent graduates from Indian colleges are not immediately suitable for employment.
"Sixty-five per cent of India's fast-growing population is under 35, and many lack the skills needed by a modern economy," the survey said citing a 2023 World Bank report.
"Estimates show that about 51.25 per cent of the youth is deemed employable. In other words, about one in two are not yet readily employable, straight out of college. However, it must be noted that the percentage has improved from around 34 per cent to 51.3 per cent in the last decade,' it added.
Emphasizing the importance of creating productive employment opportunities, the survey underscored that such jobs are crucial for fostering growth and inclusivity.
India's workforce is estimated at nearly 56.5 crore, with over 45% engaged in agriculture, 11.4% in manufacturing, 28.9% in services, and 13.0% in the construction sector.
However, to generate these employment opportunities, the survey stressed the necessity of fostering conditions that promote the growth of productive jobs beyond agriculture, particularly in organized manufacturing and services sectors, alongside enhancing productivity in agriculture, as reported by ANI.
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