HomeWhat's HappeningIndiaThe Unemployment rate in Jammu & Kashmir has declined.

The Unemployment rate in Jammu & Kashmir has declined.

The Ministry of Statistics and Program Implementation (MoSPI) has been collecting data on employment and unemployment through the Periodic Labor Force Survey (PLFS) since 2017-18.

The survey period is from July to June of the following year. The latest available annual PLFS report reveals that the estimated unemployment rate (UR) in Jammu and Kashmir at its usual status was 6.7% during 2019-20 and 5.9% during 2020-21, indicating that the unemployment rate in Jammu and Kashmir has declined.

Along with employment generation, employment generation is the priority of the government. Accordingly, the Government of India has taken various steps to generate employment in the country.

The Government of India has announced the Atmanirbhar Bharat package to provide incentives to businesses and mitigate the adverse impact of COVID-19.

Under this package, the government is providing a fiscal stimulus of over twenty-seven lakh crore rupees. The package includes various long-term schemes/programs/policies to make the country self-reliant and generate employment opportunities.

Atmanirbhar Bharat Rozgar Yojana (ABRY) was launched with effect from 1st October 2020 to encourage employers to create new jobs and restore jobs lost during the COVID-19 pandemic.

The last date for registration of beneficiaries was 31.03.2022. From the inception of the scheme till 28.11.2022 Rs. Under the scheme, an amount of 7855.07 crores has been made available to 60.13 lakh beneficiaries.

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In Jammu and Kashmir, a benefit of Rs. Under the scheme, till 28.11.2022, an amount of 35.39 crores has been provided to 19.34 thousand beneficiaries.

Since June 01, 2020, the government has been implementing the Prime Minister Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi Scheme) to provide collateral-free working capital loans to street vendors whose businesses were adversely impacted by the Covid-19 pandemic.

As of 02.12.2022, 37.68 lakh loans amounting to Rs.4,378 Crore have been disbursed under the scheme. As of 02.12.2022, 17.95 thousand loans have been disbursed under the scheme in Jammu & Kashmir.

The government of India is encouraging various projects involving substantial investment and public expenditure on schemes like Prime Minister’s Employment Generation Program (PMEGP), Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), Pt. Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) and Deen Dayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) etc. For employment generation.

Pradhan Mantri Mudra Yojana (PMMY) was launched by the government to facilitate self-employment. Under PMMY, collateral-free loans up to Rs. 10 lakh, have been extended to enable micro/small business enterprises and individuals to set up or expand their business activities.

An amount of Rs 15.56 lakh crore has been disbursed till 25.11.2022 in 37.76 crore loan accounts sanctioned under the scheme. In Jammu and Kashmir, an amount of Rs. Rs 4,209.69 crore was disbursed in 1.89 lakh loan accounts approved under the scheme in the year 2022-23 (up to 25.11.2022).

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Production Linked Incentive (PLI) schemes are being implemented by the Government with an outlay of Rs. 1.97 lakh crore, for a period of 5 years starting from 2021-22 which has the potential to create 60 lakh new jobs.

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