Employment in 27 sectors rises 3.31 pc in 2022-23: RBI data

Mumbai, Jul 8 (PTI) The number of persons employed in 27 sectors, including agriculture, trade and financial services, increased by 3.31 per cent year-on-year to 59.66 crore in 2022-23, according to data published by the RBI on Monday.

During 2021-22, the employment in these 27 sectors stood at 57.75 crore.

The Reserve Bank of India (RBI) has placed on its website an update on ‘Measuring Productivity at the Industry Level-The India KLEMS [Capital (K), Labour (L), Energy (E), Material (M) and Services (S)] Database’.

The database covers 27 industries comprising the entire Indian economy.

It comprises the Data Manual 2024 and time-series data on productivity for 27 industries covering the period 1980-81 to 2022-23.

The ‘agriculture, hunting, forestry and fishing’ had employed 25.3 crore individuals, up from 24.82 crore in 2021-22.

Construction, trade, and transport and storage were among the leading employment provider segments.

The RBI said the document describes the procedures, methodologies and approaches used in the construction of India KLEMS database version 2024.

“The production and publication of India KLEMS database are meant to support empirical research in the area of economic growth and its sources,” the RBI said.

Most importantly, the database is meant to support the conduct of policies aimed at supporting the acceleration of productivity growth in the Indian economy, it added.