India will need at least 55 million new jobs by 2015 to maintain the current ratio of the employed to total population at 39 per cent. This would be around twice the jobs created during 2005-2010, says a newreport from Crisil Research.
''If we factor in the number of people retiring or losing their jobs by 2015, new job hires will have to exceed 55 million. Achieving this will pose an overwhelming challenge without appropriate policy support,'' the report says.
The Crisil Research study uses a National Sample Survey Organisation (NSSO) data on employment in India to base its projections.
Total employment is the number people in jobs plus the number self-employed.
Between 2005 and 2010, the net job additions stood at 27.7 million but the number of self-employed people fell by 25.5 million, which restricted the increase in number of employed people to two million.
This increase has been widely misinterpreted as the number of jobs created. However, even the 27.7 million figure falls much short of the desired mark.