1. SKOCH Group’s report highlights ‘ModiNomics’ impact on employment since 2014, averaging 5.14 crore person-years annually.
2. Titled “Employment Generative Impact of ModiNomics: The Paradigm Shifts,” it’s the fifth report in the series.
3. Analysis includes credit-led and government-led interventions, emphasizing micro-loans’ effectiveness in employment generation.
New Delhi, May 14: The SKOCH Group’s report released in New Delhi underscores the substantial impact of ‘ModiNomics’ on employment generation, revealing an average of 5.14 crore person-years of employment annually since 2014.
Titled “Employment Generative Impact of ModiNomics: The Paradigm Shifts,” this report is the fifth installment in the “Outcomes of ModiNomics 2014-24: A Report Card” series. It meticulously analyzes both credit-led and government-led interventions during this timeframe.
According to Sameer Kochhar, Chairman of the SKOCH Group and author of the report, credit-led interventions have contributed an average of 3.16 crore employment opportunities per year, while government-led initiatives have added 1.98 crore employment opportunities annually.
The report’s insights are derived from project-level findings and field research, offering valuable insights into the employment-generative impact of structural credit and government schemes.
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One of the key findings of the study is the dispelling of the myth surrounding the effectiveness of small amounts of credit in generating employment.
The report emphasizes the efficacy of micro-loans in creating sustainable and steady employment opportunities, challenging conventional notions.
Kochhar commented, “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 long been an advocate of credit-led employment generation, particularly in the realm of financial inclusion.
Kochhar reiterated the importance of credit-linked livelihoods and highlighted the SKOCH Model of Inclusive Growth, which emphasizes the necessity of micro-products, including credit, insurance, and pensions.
Additionally, the report presents case studies showcasing the positive impact of micro-loans on employment generation. Field visits to borrowers across four states revealed that, on average, each loan results in 6.6 direct employment opportunities.
Furthermore, the study evaluates the employment generated by 12 central schemes implemented between 2014-24, including MGNREGA, PMGSY, PMAY-G, among others.
