Unemployment rate among persons of 15 years or above slipped to 4.9 per cent in calendar year 2024 from 5 per cent in the previous year, according to the Periodic Labour Force Survey (PLFS) released on Wednesday.
In rural areas, there is a marginal decline in overall unemployment (4.3 per cent to 4.2 per cent), with slight reductions for both men and women, the Ministry of Statistics and Programme Implementation said in a release.
Urban male unemployment rose (6.0 per cent to 6.1 per cent), but female unemployment declined (8.9 per cent to 8.2 per cent), keeping the overall urban rate stable at 6.7 per cent.
At all-India level, unemployment saw a minor drop (5.0 per cent to 4.9 per cent), suggesting slight improvements in employment opportunities, it stated.
It also stated that decline in unpaid helpers in household enterprises seems to have contributed to the drop in WPR (workers population ratio) as well as LFPR (labour force participation ratio) among rural females, as the percentage of 'helpers in Household Enterprises' decreased from 19.9 per cent to 18.1 per cent from 2023 to 2024.
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Slight improvements were seen across all categories, particularly in the overall WPR (47.0% to 47.6%) in Urban areas, it stated adding that at all-India level, overall WPR remained relatively unchanged (53.4% to 53.5%).
In urban areas, the LFPR increased for males (74.3% in 2023 to 75.6% in 2024) and slightly for females (25.5% to 25.8%), leading to an overall rise in LFPR (50.3% to 51.0%).
Overall LFPR remained constant at 56.2 per cent, despite minor variations across categories, it stated.
LFPR refers to the percentage of population that is either employed or seeking employment.
Under Principal and Subsidiary Status(PS+SS), the labour force participation rate (LFPR) in India remained largely stable between 2023 and 2024, though there were some variations across rural and urban areas.
Under the PS+SS approach, if a person has engaged in any economic activity for a period of 30 days or more during the preceding 365 days a person is considered as employed.
At the national level, the overall LFPR remained nearly unchanged, with a marginal decline from 59.8 per cent to 59.6 per cent.
The worker population ratio (WPR) followed a similar pattern. At the all-India level, WPR recorded a marginal decline, moving from 58.0 per cent to 57.7 per cent, indicating a slight drop in employment despite stable participation rates.
Unemployment rates (UR) showed mixed trends across different sectors.
At the all-India level, unemployment recorded a minor increase from 3.1 per cent to 3.2 per cent, though the levels remain relatively low, it stated.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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The Department of Investment and Public Asset Management (DIPAM) plans to nudge mutual fund houses to consider including public sector undertaking (PSU) stocks in their core investment portfolios, highlighting the strong value and dividend returns delivered by state-run firms in 2024-25 (FY25).
“While the market capitalisation (mcap) of PSUs is only 10 per cent of the overall mcap, they have distributed 25 per cent of the total dividends. We would suggest that fund managers include PSU stocks in their portfolios so that common investors, senior citizens, and minority shareholders can deploy their savings productively and partake in the value created by PSUs,” DIPAM Secretary Arunish Chawla said during a media briefing on Wednesday.
Chawla observed that central public sector enterprises had announced record dividends of ？1.5 trillion in FY25, with the government’s share reaching ？74,016 crore — a reflection of strong performance and consistent shareholder returns.
To promote inclusivity and enhance the Indian equity market for retail investors, the government also plans to advocate for greater accountability in the private sector regarding dividend distributions.
“We would also nudge private corporations to declare fair dividends to their minority shareholders so that, together, we can make our share markets a better place for the common man,” Chawla said.
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He also noted that discussions are underway on the shareholder agreement for the disinvestment of IDBI Bank.
“The strategic disinvestment of IDBI Bank is moving ahead in line with the government’s decision, and we are progressing on several fronts in parallel,” Chawla said.
While refraining from giving a specific timeline for the transaction’s completion, he mentioned that several key steps have already been taken, including setting up a data room and addressing bidders' queries. An asset valuer has also been appointed. “Financial bids will be invited when the appropriate stage is reached,” he told reporters.
As part of the disinvestment plan, the Centre, along with Life Insurance Corporation (LIC) of India, will sell a 61 per cent stake in the bank, comprising 30.48 per cent from the Government of India and 30.24 per cent from LIC. The process, which began in January 2023, is expected to be completed within this financial year, Chawla said.
The DIPAM secretary further emphasised that the department’s strategy is aligned with prevailing market conditions. “The financial instrument we use will be based on market dynamics. This is part of the department's well-organised strategy,” he said, considering the ongoing volatility in global and domestic equity markets as the US takes measures on reciprocal tariffs.
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