They created a minor storm recently when they claimed that 70 lakh new ‘payroll’ jobs will be created in India in the organised sector in 2017-18. So, it has taken the country 70 years to create a ‘payroll’ stock of 919 lakh jobs but, miraculously, in just 12 months, the country will generate 70 lakh new ‘payroll’ jobs — that is nearly 7.5 per cent of the current stock! According to the Ghoshs’ report, 150 lakh persons enter the labour force every year of which 66 lakh is skilled manpower. If these numbers are valid, the claim of 70 lakh new ‘payroll’ jobs in 2017-18 may be accepted. Otherwise, the 70 lakh jobs claim will remain a boast and, in course of time, be regarded as a bluff.

Source: Indian Express January 27, 2018 20:07 UTC