Team Blitz India
An average of 51.40 crore person years of employment has been generated between 2014 and 2024, a report released by the SKOCH Group in New Delhi has said and added that ‘ModiNomics’ has had a significant impact on employment generation. The report titled “Employment Generative Impact of ModiNomics: The Paradigm Shifts” is the fifth in the series of “Outcomes of ModiNomics 2014-24: A Report Card,” analysed credit-led and government-led interventions during this period.
Sameer Kochhar, Chairman of the SKOCH Group and author of the report, said that credit-led interventions contributed an average of 3.16 crore employment per year, while government-led interventions added 1.98 crore employment annually. The report is based on project-level findings and field research, providing valuable insights into the employment generative impact of structural credit and government schemes.
The study debunked the myth surrounding the inability of small amounts of credit to generate employment, stressing on the effectiveness of micro-loans in creating steady and stable employment opportunities. Kochhar said, “The report provides research-based evidence spread over several years on how creditled employment and government schemes-led employment have both significantly added to employment since 2014.”
SKOCH has been a votary of credit-led employment generation since 2000. Most of the work by SKOCH has been in the domain of financial inclusion.
“I have argued for credit-linked livelihoods from time and again. I propounded the SKOCH Model of Inclusive Growth in 2009, that for the first time, focused on the need for microproducts including credit, insurance and pensions,” he added.
