The share of services in gross value added (GVA) in 2023-24 was the highest in Chandigarh (88.8 per cent), followed by Delhi (84.1 per cent), said a NITI Aayog report released recently.
The services sector employs 188 million people but remains highly informal, trapping most workers in low-wage jobs without social protection.
IBBI removes sale of company as going concern in liquidation; now only asset sales allowed, shifting focus strictly to terminal liquidation process.
The NSO previously tried to collect household income data in its ninth (1955), 15th (1959), 19th (1964), and 24th (1969) rounds (July 1969-June 1970), but these efforts were not completed, partly due to non-responsiveness by respondents.
The RBI advisory follows a labour ministry request earlier this year seeking the central bank's expertise to identify gaps in EPFO's investment strategy and fund management practices, including accounting, risk management, and internal governance.
'These changes are expected to eliminate many data-entry problems that make the return filing process cumbersome in the current system.'
India needs to limit its reliance on multinational corporations (MNCs) for strategic audits and consulting in order to strengthen its economic sovereignty and achieve the goal of Atmanirbhar Bharat, the Ministry of Corporate Affairs (MCA) said in an office memorandum released on Wednesday.
Labour markets showed positive momentum in August as the unemployment rate fell for the second consecutive month to a four-month low of 5.1 per cent from 5.2 per cent in July. It was on account of the start of the sowing season.
Women are increasingly using gig work as a pathway to economic independence which has no entry barrier, especially as an alternative to traditional jobs.
The 50 per cent US tariff on Indian goods pose a downside risk to growth but the impact is expected to be short-lived for the economy, and consumption demand could see an uptick after the new goods and service tax (GST) rates are implemented which could even offset the external uncertainty, Chief Economic Advisor (CEA) V Anantha Nageswaran reckoned on Friday.
'If the near-term economic pain is absorbed more by those who have the ability and the financial strength to do so, then small and medium enterprises in downstream industries will emerge stronger from the trade imbroglio.'
'...as then it brings them closer to the complaints and grievances that the public faces.'
Nitin Gadkari said AI will be used to detect landslides, waterlogging and accident-prone spots on highways, while highlighting logistics cost cuts and road safety initiatives
'To encourage the habit of saving, a portion of the incentive will be kept in a savings instrument of deposit account for a fixed period and can be withdrawn by the employee at a later date.'
The US' move to raise the tariff on most Indian goods to 50 per cent could drag India's GDP growth for FY26 by 35 to 60 basis points, according to various economists. One basis point (bp) is equal to 0.01 per cent.
With inflation comfortably below the Reserve Bank of India's (RBI's) 4 per cent median target and likely to undershoot its 3.7 per cent projection for 2025-26 (FY26), there is room for the monetary policy easing cycle to be sustained, the Finance Ministry said on Monday. The comments, featured in the ministry's Monthly Economic Review for June 2025, assume significance ahead of the Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI) scheduled to begin from August 5.
'It is not rigidity.' 'I am just sticking to what I believe very strongly in, particularly if you have been given an opportunity to serve the country....'
The rise was more pronounced in urban areas than in the rural areas.
A recent World Bank report placing India among the most equal countries globally may present a limited view of inequality, with economists suggesting that broader data sets could tell a different story. According to the report, India's Gini index (or coefficient/ratio), a key measure of inequality, stood at 25.5 in 2022-23, placing the country fourth globally in terms of equality, behind only the Slovak Republic, Slovenia, and Belarus.
India's consumer price index (CPI)-based retail inflation rate is likely to have cooled further in June, thus remaining below the 4 per cent target of the Reserve Bank of India (RBI) for a fifth consecutive month, giving the central bank wiggle room to focus on growth. Economists reckon that the decline is on account of easing prices in various categories of goods, especially food items, and a favourable base effect.
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