According to the Economic Survey 2025, what was the unemployment rate in India for 2023-24?

Correct option is D

The correct answer is (d) 3.2%

Explanation:

• The Economic Survey 2024–25 reported that India’s unemployment rate for individuals aged 15 years and above declined to 3.2% in 2023–24, from 6.0% in 2017–18.
• The data is sourced from the Periodic Labour Force Survey (PLFS) conducted by the Ministry of Statistics and Programme Implementation (MoSPI).
• This marks a significant improvement in India’s labour market and employment conditions.
• The reduction reflects the positive impact of economic reforms, post-pandemic recovery, and job creation policies.
• The falling unemployment rate indicates increased job opportunities and workforce absorption.

Information Booster:

• The Female Labour Force Participation Rate (FLFPR) rose from 23.3% in 2017–18 to 41.7% in 2023–24, indicating greater gender inclusivity in employment.
• The Worker Population Ratio (WPR) increased from 46.8% to 58.2%, and the Labour Force Participation Rate (LFPR) rose from 49.8% to 60.1% during the same period.
• Urban unemployment also showed improvement, decreasing from 6.6% to 6.4% year-on-year.
• Net payroll additions under EPFO climbed from 61 lakh in FY19 to 131 lakh in FY24, showing a rise in formal sector employment.
• Sectors like digital services, infrastructure, and renewable energy have been key employment generators.