MUMBAI: Millions of people across the country have lost their jobs in the Corona epidemic and lockdown and the situation has not improved. However, economic growth is expected to pick up in the near future and employment opportunities in the country are expected to grow again. The GDP growth rate for the third quarter of the current financial year stood at 0.4 per cent. This means that we are free from the technical downturn caused by Corona. This will not only remove the fear of layoffs in the minds of those who are currently employed, but will also create heaps of employment opportunities. Find out in which sectors new employment opportunities will be created.
According to GDP data, growth in the agriculture sector remained unchanged at 3.9 per cent in the December quarter. Then, the manufacturing sector has come out of the downturn. If we look at the statistics, manufacturing activity in the Indian economy was at an 8-year high during January. Amid weak economic growth figures, there are signs of improvement in the future. As manufacturing grows, so will unemployment. The number of companies hiring in January is the highest in the last seven years due to rising manufacturing activity.
After the Corona era, the pace of construction has also increased. “Between 2019 and 2024, the CAGR in this sector will be above 6 per cent as work has started in the infrastructure sector,” a research report said. The situation is that work has started rapidly in infrastructure areas like highways, railways, ports. In the highway sector, the National Highway Authority has completed more than 25 km of roads in just 18 hours, making it a Limca Book of Records. This shows how fast the infrastructure projects are going in the country.
Even in the worst-affected real estate following Corona, the luster is now back. First of all, real estate companies run a variety of offers to get rid of old inventory. Banks and NBFCs, on the other hand, started offering home loans at interest rates below 7 per cent. As a result, house sales have improved not only in big cities like Delhi, Mumbai, Bengaluru, Hyderabad but also in smaller cities like Varanasi, Patna, Muzaffarpur, Bhagalpur.
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