India’s social security coverage has seen a significant rise. According to International Labour Organization (ILO), India’s social security coverage has doubled from 24.4 percent in 2021 to 48.8 percent in 2024.
Citing the ILO World Social Security Report 2024-26, Union Minister for Labour and Employment Mansukh Mandaviya highlighted the progress made in expanding social security benefits across the workforce. He emphasized the government’s commitment to skilling and empowering India’s youth, ensuring that their talent makes a global impact.
Dr. Mandaviya was speaking at the post-budget webinar on ‘Investing in People.’ Highlighting employment initiatives, Mr Mandaviya revealed that 17.1 crore jobs were created between 2014 and 2024, with 4.6 crore generated in the past year alone.
He said, the unemployment rate has declined from 6 percent in 2017-18 to 3.2 percent in 2023-24, while female workforce participation has seen a notable increase from 22 percent to 40.3 percent. Mr Mandaviya attributed these achievements to the government’s progressive policies aimed at fostering economic growth and social security.
