What are the key factors influencing the economy of India as seen by the recent EPFO data update

- New EPFO member additions reflect employment trends, indicating an increase in formal job opportunities. - Rising member numbers suggest growth in various sectors of the economy, resulting in higher productivity and increased consumer spending. - The data can also indicate potential changes in government policies and their impact on job creation and economic growth. - Large-scale hiring by companies can drive economic activity and contribute to GDP growth. - Expansion of the EPFO membership base can lead to more contributions towards social security schemes, supporting overall welfare and financial stability in the country.