Site news

REAL ESTATE INDUSTRY MAY GENERATE 15 MILLION JOBS IN NEXT FIVE YEARS HOUSING AND CONSTRUCTION INDUSTRY IS THE SECOND LARGEST EMPLOYER

 
 
Picture of System Administrator
REAL ESTATE INDUSTRY MAY GENERATE 15 MILLION JOBS IN NEXT FIVE YEARS HOUSING AND CONSTRUCTION INDUSTRY IS THE SECOND LARGEST EMPLOYER
by System Administrator - Friday, 16 February 2018, 10:58 AM
 

By : M.S.Yatnatti: Editor and Video Journalist Bengaluru : Real estate directly and indirectly generates millions of jobs. This sector employs the largest unskilled labour-force. Along with skilled workforce for sales, clerical jobs and ground staff, housing becomes a great economic driver. Structural engineers, architects, interior decorators, planners, accountants are as much needed for the industry as finance agencies. Hence, we must look at it as a potential employment generator.The Economic Survey 2017-18, reportedly prepared by chief economic adviser to the government, was tabled in the Parliament on the first day of the budget session. The survey evaluates the year gone by and focuses on the policy initiatives. While the economy projections in the Economic Survey 2017-18 spell good news for the realty sector, it also underlines the importance of the sector as a job generator.According to the survey, the real estate and construction sector will create over 15 million jobs over the next five years despite signs of stress in the segment in the last few quarters. Economic Survey 2017-18 says India's GDP growth is expected to reach 7 to 7.5 per cent in FY-19 from 6.75 per cent this year;The realty sector employed over 40 million workforce in 2013, and as per projections, it is slated to employ 67 million workforce by 2022;This will translate into 3 million jobs annually.