While the official data showed a pick up in GDP growth, India’s employment growth is showing signs of a slowdown according to a study by Care Ratings. In a sample study of 1,072 companies, job growth slowed to near zero in 2014-15. It is 0.3% and the slowest in four years.

Despite governments ‘Make in India’, the number of jobs in the manufacturing sector companies in the sample declined. The employment growth in the manufacturing companies plunged to minus 5.2% in 2014-15 from 3.2% in the previous year.

Manufacturing accounted for 40% of the jobs, the highest share in employment followed by banking (23%) and IT (!8.4%). This means the future of job creation would largely be dependent on the growth in this sector and the low growth in the last three years ia cause for concern.

(source: The Hindu)

It has already been proved beyond and doubt the it will be jobless growth during the period of neo liberalisation.