A SKOCH report on Monday claimed that 51.40 crore person years of employment was generated between 2014 and 2024 during the Modi government regime.
A man-year or person-year is a unit of measurement for the amount of work done by an individual throughout the entire year expressed in hours.
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The report titled, Employment Generative Impact of ModiNomics: The Paradigm Shifts, is based on 80 case studies covering borrowers who took multiple loans and data of various government schemes.
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"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," a release said.
SKOCH Group is India's think tank dealing with socio-economic issues, focusing on inclusive growth since 1997.
The current study also finds that micro-loans are being used to generate employment that is steady and stable, it stated.
"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," said author of the report Sameer Kochhar, Chairman, SKOCH Group.
These were the findings of a SKOCH study of Bandhan Bank's ecosystem visiting hundreds of small loan beneficiaries across four states, the release stated..
According to the release 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, PMGSY, PMAY-G, PMAY-U, DAY-NULM, RSETI, ABRY, PMEGP, SBM-G, PLI's, PM SVANidhi, it stated.
SKOCH Group studies have shown that Credit Gap has fallen 12.1% during the past nine-years, it stated adding that it has also shown a positive correlation between a reduction in Credit Gap, reduction in multidimensional poverty and an increase in NSDP.
"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," Kochhar said.
According to the release, the SKOCH reports are based on project-level findings and have a high degree of acceptance.
This report is important as it studied the employment generative impact of structural credit from formal sources and fractional employment and its treatment, it said.
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