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Tuesday, September 29, 2020

New govt employment in June falls over 60% from FY20 monthly average level

The central government had introduced the National Pension System (NPS) with effect from January 1, 2004 (except for armed forces) on a mandatory basis.

By: ENS Economic Bureau | New Delhi | August 26, 2020 3:14:08 am
From state government sector, 20,222 joined this June, as against monthly average of 45,209 in FY19 and 41,333 in FY20. (File)

New employment in government sector fell by over 60 per cent in June 2020, compared with the monthly average of the last financial year, data released by National Statistical Office (NSO) on Tuesday showed.

The central government had introduced the National Pension System (NPS) with effect from January 1, 2004 (except for armed forces) on a mandatory basis. All the employees of central autonomous bodies who have joined on or after the above mentioned date are also mandatorily covered under the government sector of NPS. Following the central government, various state governments also adopted this architecture and implemented NPS with effect from different dates.

As per the latest NSO data, only 3,537 new subscribers joined in the NPS from the central government sector, compared with the monthly average of 9,213 in FY19 and 9,904 in FY20. Similarly, from the state government sector, only 20,222 joined in the NPS in June 2020, compared with the monthly average of 45,209 in FY19 and 41,333 in financial year 2019-20.

Since April, 2018, the Ministry of Statistics and Programme Implementation has been bringing out the employment related statistics in the formal sector covering the period September 2017 onwards, using information on the number of subscribers who have subscribed under Employees’ Provident Fund Scheme, the Employees’ State Insurance Scheme and NPS.

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