Correct option is A
The correct answer is: (a) Private sector
Explanation:
The Economic Survey 2024 underscores the pivotal role of the private sector, particularly Micro, Small, and Medium Enterprises (MSMEs),
in driving employment growth in India. These enterprises have been instrumental in job creation, especially in the manufacturing, trade, and services sectors.
Information Booster:
Small Business Growth: The number of small businesses increased from 65 million to 73.4 million, marking a 12.8% growth in just one year .
Services Sector Dominance: The services sector continues to be a major employment generator, constituting 55% of India's economy in 2023–24 .
Government initiatives like 'Make in India' and 'Startup India' have bolstered private sector participation in the economy.
Labor Market Trends: The unemployment rate for individuals aged 15 years and above declined from 6% in 2017–18 to 3.2% in 2023–24, indicating positive labor market trends .
Tourism Sector Impact: The tourism sector alone created 7.6 crore jobs in FY23, contributing to the overall employment landscape.
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