With the second wave of the coronavirus pandemic battering India at current, the Indian financial outlook seems to be bleak for the second yr in a row. In 2020-21, India’s actual GDP progress is estimated to be minus 8 per cent. This is able to additionally put strain on India’s employment numbers. In earlier bulletins, we’ve got analysed the influence of Covid-19 pandemic on employment, particular person and family incomes and expenditures in 2020.
On this CEDA-CMIE Bulletin, we attempt to take a longer-term view of sector-wise employment in India. We base this on CMIE’s month-to-month time-series of employment by business going again to the yr 2016. For this bulletin, we’ve got centered on seven sectors – agriculture, mines, manufacturing, actual property and building, monetary companies, non-financial companies, and public administrative companies. These sectors make up for 99 per cent of complete employment within the nation.
Agriculture now employs extra folks than 5 years in the past
In determine 2 and three (beneath), we have a look at 4 sectors. These are agriculture, monetary companies, non-financial companies, and public administrative companies. Non-financial companies exclude public administrative companies and protection companies.