Economic Survey 2023: Urban unemployment ratio has come down to 7 percent

Chief Economic Advisor Dr V Anantha Nageswaran said that the Urban unemployment ratio has come down to 7 per cent, worker population ratio has picked up to become 45 per cent.

As private investment begins to pick in and as construction sector comes back to life, employment scenario will become as it did in the 1st decade, said CEA.

According to the Ecnomic Survey 2023, unemployment rates fall from 5.8 per cent in 2018-19 to 4.2 per cent in 2020-21, rise in rural female labour force participation rate from 19.7 per cent in 2018-19 to 27.7 per cent in 2020-21. As many as 28.5 crore unorganised workers registered on E-Shram portal.

Redefinition of MSMEs and ECGLS have enabled MSME sector to remain in good health, evidence is the GST paid by MSMEs, said Chief Economic Advisor.