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Bangalore: The economic survey presented by Finance Minister Pranab Mukherjee in the Parliament today reports that 58 million jobs are expected to be generated in Eleventh Five-Year Plan period (2007-12).

According to pre-Budget economic survey, employment opportunities are likely to surpass the projection of 45 million, which may help to bring down unemployment in the country to below five percent.


Not going as per tradition, this time non-agriculture sectors are expected to generate more employment. According to the survey, the Plan has identified the labour-intensive manufacturing and services sectors with good employment potential. Such sectors include food processing, gems and jewellery, handloom, tourism and construction.

The survey said, "It is expected that agriculture sector may not contribute towards any increase in employment during the Eleventh Five Year Plan."

The report said the Five-Year Plan seeks to reduce underemployment and moving surplus labour in the agriculture sector to more gainful employment in the non-agricultural sector with higher wages.

Due to negative employment growth rate in the public sector during the period of 1994-2006, the employment growth in both private and public sector has dropped to 0.12 percent. Growth in jobs in the organized sector stood at 1.20 percent in the 1983-94 period, with the public sector accounting for 1.53 percent of the total.

Source:
http://siliconindia.com/shownews/58_Million_job_generation_in_India_expected_til

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