This is how many people the PM asserts have got jobs. His take on jobs estimates, how and who’s doing the math and why he feels the Opposition is talking bunkum.
Countering the Opposition’s repeated attacks on the Centre’s inability to create employment opportunities for the youth in the country, Prime Minister Narendra Modi asserted that more than 50 crore person-years employment was generated during 2014-2024.
The Prime Minister quoted the recent SKOCH report titled ‘Employment Generative Impact of ModiNomics: The Paradigm Shifts,’ which found that governance-led interventions have created 19.79 crore jobs, while credit-led interventions have contributed 31.61 crore jobs between 2014 and 202 during the Modi regime.
This is how many people the PM thinks have gotten jobs. His take on jobs estimates, how and who’s doing the math and why he thinks the opposition is talking bunkum.#pmmodionitvnetwork@narendramodi @PMOIndia @BJP4India#pmmodionnewsx #pmmodinewsxinterview #pmmodiinterview… pic.twitter.com/zjyLdci8DX
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The PM said, ‘You must have read the SKOCH report that was released… They have analysed some 20 to 22 schemes of the government. They have published statistics about how many person-year-hours have been obtained. They have revealed how many hours it takes to build 4 crore houses and how many people it employs. They have published data for about 22 different parameters. They have stated that 50 crore people have accrued benefits.’
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PM Modi said that Rs 25 lakh crore worth of bank loans have been disbursed under the Mudra Yojana, which has empowered entrepreneurs to start their businesses and employ people in the process.
‘We give bank loans without any guarantee. We have disbursed loans worth Rs 23 Lakh Crore. 80% of those who have received these loans are first-timers. Start-ups used to be in the thousands and now they are in lakhs. People have been employed in this process, right?,’ he quipped.
He said that when thousands of kilometres of roads are being laid in the country, scores of people get employed. Roads and rail construction has doubled, electrification has doubled, and mobile towers are reaching every corner of India. All this has been built by people who has received jobs.
He hit back at the Opposition party leaders for peddling lies about lack of jobs in the country.
‘The SKOCH report has revealed how many hours it takes to build 4 crore houses and how many people it employs… They have stated that 50 crore people have accrued benefits.”
The Prime Minister said that the PM SVANidhi Yojana has given wings to over 1 crore poor street vendors of the country. SVANidhi allows street vendors to take subsidised loans from banks to run their businesses, which helps them save money and expand their businesses.
‘Earlier, a street hawker would sit on the footpath and now his goal is to buy a lorry. One who would owned a lorry earlier now wishes to provide home delivery services. Their aspirations are rising. This is why I believe that people receiving the benefits of government schemes will eventually result in development,’ he explained.
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WHAT IS THE SKOCH REPORT
The SKOCH Group, a New Delhi-based think-tank that deals with socio-economic issues focusing on inclusive growth, released a report titled ‘Employment Generative Impact of ModiNomics: The Paradigm Shifts’ on May 14, 2024. It is the fifth in the series of ‘Outcomes of ModiNomics 2014-2024: A Report Card,’ and analyses credit-led and government-led interventions during this period.
The report states that ‘ModiNomics’ has had a significant impact on employment generation, as an average of 5.14 crore person-years of employment has been generated annually since 2014. It is based on 80 case studies and data from various government schemes.
Sameer Kochhar, Chairman of the SKOCH Group and author of the report, said that credit-led interventions contributed an average of 3.16 crore employment per year, while government-led interventions added 1.98 crore employment annually. The report is based on project-level findings and field research, providing valuable insights into the employment generative impact of structural credit and government schemes.
The study debunked the myth surrounding the inability of small amounts of credit to generate employment, stressing on the effectiveness of micro-loans in creating steady and stable employment opportunities.
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