Over 514 million jobs created during 2014-2024

economictimes.indiatimes.com:

employment was generated between 2014 and 2024 out of which 197.9 million was as a result of governance-led interventions and 316.1 million due to credit-led interventions, said a SKOCH report on Job Generative Impact of Modinomics, released on Monday.

A man-year or person-year is a unit of measurement for the amount of work done by an individual throughout the entire year expressed in hours. The report is based on 80 case studies covering borrowers who took multiple loans and data of various government schemes.

«Over a period between 2014-24, a total of 514.0 million employment has been generated. Out of which 197.9 million employment has been generated by governance-led interventions.

The rest, 316.1 million, has been contributed by credit-led interventions,» it said. SKOCH Group is India's think tank dealing with socio-economic issues, focusing on inclusive growth since 1997.

As per the report, micro-loans are being used to generate employment that is steady and stable. «We have documented 80 case studies from our field visits covering borrowers who have taken multiple loans and the average direct employment per loan amount stands at 6.6 jobs,» it said.