New Delhi: Demand for works under flagship rural jobs programme Mahatma Gandhi National Rural Employment Guarantee scheme (MGNREGS) has fallen in the current financial year till February indicating employment opportunities are on rise in the countryside.
The government data shows that work so far demanded in the current year (April, 2021- February, 2022) under the scheme stands at 37 crore, 10 per cent lower than the work demanded in the corresponding period of the previous year.
"Job opportunities continue to grow in the rural areas as well, as demand for work under MGNREGS declines in the current year as compared to the FY 2020-21. In February 2022, 3.1 crore persons demanded work under MGNREGS, which is 20.2 per cent lower than in February 2021," according to Monthly Economic Review released by the Department of Economic Affairs under Finance Ministry.
Economic activities have been on the rise and Omicron had limited impact. The second advance estimates of GDP has reaffirmed full recovery of India's economy with real GDP of FY 2021-22 estimated to go past the output of the most recent pre-pandemic year of 2019-20.
Agriculture sector has been one of the bright spots throughout the pandemic recording positive growth.
Quoting payroll data of Employees' Provident Fund Organisation (EPFO) which covers the low paid workers in medium and large establishments of formal sector, the Finance Ministry review report said that many first-time job seekers are joining the organised sector workforce in large numbers.
"Apart from growth in employment, the surge in these (EPF) subscriptions also reflect the ongoing process of formalization of jobs in the economy," the key government document said.
It noted that Naukri JobSpeak Index further indicates growth of hiring activity in India rising 31 per cent year-on-year in February 2022 as Omicron scare subdued and economic activities recovered.
"Insurance sector witnessed one of the highest y-o-y growth in hiring activity at 74 per cent followed by retail at 64 per cent. Jobs in sectors like information technology (IT) software and services and hospitality registered 41 per cent growth, while hiring activity in banking and financial services rose by 35 per cent,” the monthly review said.
This was followed by rise in jobs in pharma by 34 per cent and telecom 23 per cent. The automobile sector also showed signs of recovery in February 2022 as it grew by over 12 per cent over February 2021, it added. (UNI)