Sikkim: SKOCH report highlights employment generation impact of ModiNomics since 2014

According to the latest SKOCH Report on "Employment Generative Impact of ModiNomics: The Paradigm Shifts", an average of 5.14 crore person-years of employment has been generated annually since 2014. The report, part of the "Outcomes of ModiNomics 2014-24: A Report Card by SKOCH Group" series, was released today in New Delhi.

The report indicates that credit-led interventions and government-led initiatives have been pivotal in driving employment growth during the period under review. Author of the report, Mr. Sameer Kochhar, Chairman of SKOCH Group, highlighted that credit-led interventions contributed around 3.16 crore employment opportunities annually on average, while government-led initiatives added approximately 1.98 crore employment opportunities.

Mr. Kochhar emphasized the significance of credit-linked livelihood, advocating for micro-products including credit, insurance, and pensions. He underscored the importance of micro-loans in generating steady and stable employment, citing a SKOCH study of Bandhan Bank's ecosystem which documented an average of 6.6 jobs per loan.

The report also analyzed the impact of 12 central schemes, including MGNREGS, PMGSY, PMAY-G, PMAY-U, DAY-NULM, RSETI, ABRY, PMEGP, SBM-G, PLIs, and PM SVANidhi. Over the period from 2014 to 2024, a total of 51.40 crore employment opportunities were generated, with governance-led interventions contributing 19.79 crore and credit-led interventions contributing 31.61 crore.

Mr. Kochhar, renowned as a reforms historian and author of the best-seller "ModiNomics", has been a vocal advocate for social, digital, and financial inclusion. His work has received acclaim from prominent figures including Mr. Narendra Modi, Mr. M Venkaiah Naidu, Dr. Manmohan Singh, and others.

SKOCH Group, India's leading think tank dealing with socio-economic issues, has been instrumental in providing strategies and engaging with various stakeholders to promote inclusive growth since 1997. The group, comprising a consulting wing, a media wing, and a charitable foundation, offers a range of services including field interventions, research reports, policy briefs, and more.