The newly-introduced monthly payroll reporting for the formal sector has shown that 35.3 lakh new jobs were created during the six months ended February this year, a release from NITI Aayog said.

While a conservative data estimate by the Employees Provident Fund Organisation (EPFO) showed that 31.1 lakh new payrolls were created between September 2017 and February 18, the data generated by the Pension fund Regulatory and Development Authority (PFRDA) showed 4.2 lakh new payroll accounts during the same period.

“From the above two organisations itself, 35.3 lakh new payrolls were generated during this six month period,” the release said.

According to NITI Aayog, EPFO, PFRDA and the Employees’ State Insurance Corporation (ESIC) would release payroll data every month. But, since ESIC data is not Aadhaar seeded, there may be further scope of some modifications, it said.

“Given that till now there was no such system in place, this data would provide a more firm basis for various analysis and studies of the economy, job creation, as also aid in policy making. We may as well as bid goodbye to the days of analyses based on random sample surveys. Hopefully this would also end the debate and criticisms about jobless growth in the economy,” the release said.

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