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SKOCH report pegs employment figures at 51.40 crore person-years in Modi Govt’s 10 years

SME Funding, loans and emphasis on employment generation schemes has been the topmost priority in ModiNomics, averrs the reforms expert Sameer Kochhar

New Delhi: At least 5.14 crore person-years of employment on average every
year has been generated since 2014, says SKOCH Report on “Employment Generative Impact
of ModiNomics: The Paradigm Shifts”. This is the fifth report in theModiNomics2series of “Outcomes of ModiNomics 2014-24: A Report Card by SKOCH Group” released in New Delhi today. “We have
studied credit-led interventions and government-led interventions during the period 2014-24.
While credit-led interventions added on average 3.16 crore employment per year, government-led interventions have added 1.98 crore employment,” said author of the report  Sameer Kochhar, Chairman, SKOCH Group.

5.14 crore person-years of employment annually has been generated since 2014 on an average
SKOCH reports are based on project-level findings and have a high degree of acceptance.
These are increasingly referred to for a ground reality-check. This report is important as it
studied the employment generative impact of structuralcredit from formal sources and
fractional employment and its treatment. It also breaks the myth of the inability of small
amounts of credit to generate employment. It uses its ongoing field research and schemewise data to arrive at conclusions.

PMMY itself has added 2.52 crore steady and sustainable employment as an average
per year since 2014 (net of employment mortality)

According to Mr Kochhar, “The report provides research-based evidence spread over several
years on how credit-led employment and government schemes-led employment have both
significantly added to employment since 2014.”
SKOCH has been a votary of credit-led employment generation since 2000. Most of the work
by SKOCH has been in the domain of financial inclusion. “I have argued for credit-linked
livelihood from time and again. I propounded the SKOCH Model of Inclusive Growth in 2009,
that for the first time, focused on the need for micro-products including, credit, insurance and
pensions,” added Mr Kochhar.
He has authored a series of books on the subject, notable being Financial Inclusion (2009) and
Speeding Financial Inclusion (2009). Defeating Poverty: Jan Dhan and BeyoSKOCH2nd (2014) and India
2047: High Income with Equity (2024) are some of his works that have impinged on the increasing need for enhanced credit linked livelihood.

The current study also finds that 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,” adds Mr Kochhar. These were the findings of a SKOCH study of
Bandhan Bank’s ecosystem visiting hundreds of small loan beneficiaries across four states. This
is a part of SKOCH’s ongoing study on employment generation titled A Hundred Voices, A
Billion Dreams. The current study takes into account 12 central schemes, viz., MGNREGS,ModiNomics
Over a period between 2014-24, a total of 51.40 crore employment has been generated. Out of which 19.79 crore employment has been generated by governance-led interventions. The rest, 31.61 crore, has been contributed by credit-led interventions.
SKOCH Group has been studying and championing the cause of format credit linkage to generate self-employment. Its studies have shown that Credit Gap has fallen 12.1% during the past nine-years. It has also shown a positive correlation between a reduction in Credit Gap, reduction in multidimensional poverty and an increase in NSDP.

*This totals to 25.2 crore credit-led employment and 19.7 crore person-years of
fractional employment every year since 2014


SKOCH Group is India’s leading think tank dealing with socio-economic issues, focusing on
inclusive growth since 1997. The Group companies include a consulting wing, a media
wing and a charitable foundation. SKOCH Group brings an Indian felt-needs context to
strategies and engages with Fortune-500 companies, State Owned Enterprises, Government
to SMEs and Community-Based Organisations with equal ease. The repertoire of services
includes field interventions, consultancy, research reports, impact assessments, policy briefs,
books, journals, workshops and conferences. SKOCH Group has instituted India’s highest
independent civilian honours in the field of governance, finance, technology,
economics and social sector.

Sameer Kochhar: Reforms historian and author of best-seller ModiNomics, Mr Sameer Kochhar is Chairman,
SKOCH Group. He passionately advocates social, digital and financial inclusion and is a
foremost expert on governance and inclusive growth. His work has been acclaimed globally
and endorsed by Mr Narendra Modi, Mr M Venkaiah Naidu, Dr Manmohan Singh, Mr Arun
Jaitley, Mr P Chidambaram, Mr Yashwant Sinha, Dr C Rangarajan and Dr Montek Singh
Ahluwalia. In his thinking, writings, and activities, his profound admiration
for India’s economic reforms and, by extension, those outstanding personalities who strive to
make these reforms more meaningful and broad-based come out clear and unambiguous. He
has published over 18 volumes, the notable being India 2030 – A Socio-Economic Paradigm;
ModiNomics; Defeating Poverty: Jan Dhan and Beyond and Modi’s Odyssey: Digital India
Developed India. He recently released India 2047: High Income with Equity.  (representative images  and data used)

For more information, contact Dr Gursharan Dhanjal, 9811156688,

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