Niti Aayog today revealed that 31.1 lakh new jobs were created in formal sector between September 2017 to February 2018 and further laid emphasis that these “eye-opening” numbers put stop to all “speculations” regarding job creation.
The government think tank said this was 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).
“Data released by EPFO shows that during September, 2017 to February, 2018, 31.10 lakh new additions across all age groups were made in the payroll,” the Niti Aayog said in a statement. It 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, and that “actual figures may well be more than this”.
“The numbers from these three organisations are an eye opener and put an end to all speculations and conjectures regarding job creation in the economy. They also strengthen the efforts made by the Government on job creation and formalization of the economy,” it said.