NITI Ayog now claims over 30 lakh jobs created in formal sector; in 2017-18

This, it said, should end all speculations on job creation

With elections ahead and the government facing criticism on employment front, the NITI Aayog has come out with claims 31.1 lakh new jobs were created in formal sector between September 2017 till February 2018.

This, it said, should end all speculations on job creation.

It is said that the figures were based on the additions made in payrolls from Employees’ Provision Fund Organisation for all age-groups.

NITI Aayog said the monthly payroll data was released by Employees’ Provident Fund Organisation (EPFO), Employees’ State Insurance Corporation (ESIC) and the Pension Fund Regulatory and Development Authority (PFRDA).

The think tank said that payroll reporting for the formal sector will facilitate analysis of new and continuing employment.

It added that this figure is provisional due to continuous updation of employee records.

It further said that the actual figures may well be more than this.

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