Sandeep Dikshit
New Delhi, January 25
The green shoots of economic recovery anticipated by RBI chief Shaktikanta Das and Union Finance Minister Nirmala Sitharaman have been slow in taking root in the formal sector, if statistics on payrolls from three different sources is any indication.
The Ministry of Statistics has been bringing out employment-related data in the formal sector from September 2017 using information on the number of subscribers under the three major schemes, EPF, ESI and NPS.
Under New Pension Scheme (NPS), there were 64,870 additions in November, of which only 13,748 came from the Central Government, 41,053 from states and the remaining from the private sector. In October, there were 68,870 additions while those in September were still higher at 72,923.
As against 6.29 lakh new subscribers in 2020-21, the numbers were 7.57 lakh for 2019-20 and 7.50 lakh for 2018-19. In all, 30.88 lakh new subscribers joined and contributed in the NPS during September 2017-November 2021. Under the Employees’ State Insurance (ESI) Scheme, the Ministry of Statistics reported 10.28 lakh new subscribers in November, down compared to 12.49 lakh in October and 13.57 lakh in September.
In 2020-21, 1.15 crore new subscribers were added. During September 2017-November 2021, a total of 5.93 crore new subscribers joined the ESI scheme. From the Employees’ Provident Fund Scheme, the Ministry of Statistics reported that 8.27 lakh new EPF subscribers joined in November, 3.80 lakh stopped subscribing and 9.47 lakh rejoined. Net additions were about 14 lakh.
The ministry cautioned that there were elements of overlap and therefore, the estimates from various sources were not additive. The figures gave different perspectives on employment.
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