Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Overall employment in India rose by 6.94 lakh, says Economic Survey 2013

Feb 27 2013, 15:00 IST
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IT and BPO sector accounted for almost half of the increase, says Economic Survey. (Reuters) IT and BPO sector accounted for almost half of the increase, says Economic Survey. (Reuters)
SummaryIT and BPO sector accounted for almost half of the increase, says Economic Survey.

Overall employment in India in the last one year to June 2012 increased by nearly by 7 lakh led by the IT and BPO sector that accounted for almost half of the increase.

"Upward trend in employment since July 2009 continues despite the economic slowdown," the Economic Survey for the year 2012-13 tabled in the Lok Sabha today by the Finance Finance Minister P Chidambaram said.

A sector wise analysis shows that the textiles sector including apparels saw 1.70 lakh job additions, followed by transport sector (0.45 lakh), metals (0.26 lakh), gems and jewellery (0.19 lakh) and automobiles (0.11 lakh) in June 2012 over June 2011.

On the other hand, employment in handloom/powerloom and leather sectors has marginally declined during this period, the survey said.

There has been a sustained and consecutive increase in employment in both the public and private sectors covered at overall level during the last eleven quarters with a total addition of 30.73 lakh employment during this recovery period, the survey added.

The survey further said given that Indiat is one of the youngest large nations in the world, human development assumes great economic significance for the country provided measures are being taken to seize the "demographic dividend".

India is on the brink of a demographic revolution with the proportion of working-age population between 15 and 59 years likely to increase from approximately 58 per cent in 2001 to more than 64 per cent by 2021, the Survey said.

Moreover around 63.5 million new entrants to the working age group between 2011 and 2016, the bulk of whom will be in the relatively younger age group of 20-35 years.

The annual growth rate of employment in the private sector in 2011 was 5.6 per cent whereas that in the public sector was negative.

The share of women in organised-sector employment was around 20.5 per cent during 2009-11 and has remained nearly constant in recent years.

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