Internet shutdowns by law enforcement agencies like the one in Manipur and Punjab cost $1.9 billion to the Indian economy in the first half of 2023, a report said on Thursday. The shutdowns also led to a loss of nearly $118 million in foreign investment and triggered over 21,000 job losses, the global non-profit Internet Society said in its report 'Netloss'. The non-profit arrived at the financial impact of the shutdown going beyond the loss of output and included factors like change in the unemployment rate, Foreign Direct Investment (FDI) lost, risks of future shutdowns, population in the working age etc.
The prime minister sought to allay slowdown concerns saying the fundamentals of the economy are strong, with low inflation and a potential to boost exports.
'Don't waste your time in doing long pointless graduation courses.' 'Try and get into an apprenticeship or a job after Class 10 or Class 12, as there is always time to get back to academics and learn new skills.'
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
The relationship between the US and India has been very productive, in particular on the trade and technology front, and 2023 can be considered the best year historically for bilateral ties, according to a former top American trade official. Arun Kumar, an Indian-American, who served as the assistant secretary of Commerce for Global Markets and director general of the US and Foreign Commercial Service (USFCS) during the Obama administration, said this during an interview with PTI in Washington. "Looking back on 2023, it was a very productive year for the US-India relationship, by many accounts the best year historically," he said.
Artificial Intelligence will create 2.3 million machine learning jobs by 2020.
The bench said that multiple local factors made it difficult for the top court to "frame uniform or standard guideline for trial courts across the length and breadth of this country" and it left the issue of ensuring speedy trial to the high courts as they have the power of superintendence over the trial courts.
The government must realise that it has very little time to recover itself, its reputation, its legacy - and India's fortunes,says Mihir S Sharma.
India Inc's hiring outlook has become the weakest in the past eight years in the Asia-Pacific region, even as job losses have emerged as a critical concern.
"An important aspect of this budget is the welfare of the poor," Modi said.
With economic problems and job cuts, Hangzhou locals and people in other parts of China are not very pleased about hosting the Asian Games.
'It could take 12 months or more for hiring to get back on track.' 'New opportunities would come up and there will be demand for skillsets that can help dealing with the current situation.'
BCCI honourary secretary Jay Shah provived updates on the Asia Cup venue, WPL and India's preparations for the ODI World Cup.
The Indian economy is projected to grow at 6.3 per cent in current financial year aided by investment and domestic demand. According to a World Bank report released on Tuesday, India continues to show resilience against the backdrop of a challenging global environment. In India, which accounts for the bulk of South Asia region, growth is expected to remain robust at 6.3 per cent in 2023-24, India Development Update of the World Bank said.
'The rise in unemployment, underemployment, discouraged workers and job insecurity is likely to continue, with very adverse consequences for the nation's economic well-being and social cohesion,' warns Shankar Acharya.
Biden is not risking his reputation in a crucial election year, argues Ambassador M K Bhadrakumar.
Sena's most discussed promise during the assembly poll campaign -- a full meal at Rs 10 -- also figures in the CMP.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
'You will really wish oh! Had I stayed in Dharavi I would have got a nice house. I can assure you that. We will make dreams come true.'
The Bharatiya Janata Party on Sunday unveiled its manifesto for the West Bengal elections, promising to build a 'Sonar Bangla' by providing employment, strengthening social security schemes and vowing to clear the implementation of the Citizenship Amendment Act in the first cabinet meeting of the new government.
If Saudi Arabia, with just two Muslim holy sites of Mecca and Medina, can create a huge tourism-based ecosystem beyond oil, Ayodhya is sure to become the world's hottest religious tourism site in less than a decade, predicts R Jagannathan.
'It is a balanced and prudent Budget that sets the foundation for future growth in the economy.'
Israel has drafted 350,000-400,000 soldiers for a ground operation in Gaza since the dastardly attacks on its southern communities on October 7.
'When the average growth in the last three years was just 2.5%, how does that make us the fastest growing country?' 'They only tell you what has happened in the last 2 years; they are not taking into account what happened in FY21 on account of their mistakes.'
Finance Minister Nirmala Sitharaman on Thursday announced a new job creation scheme by giving subsidy to those establishments that make new hires. The subsidy would be to cover for retirement fund contributions by employees as well as employers for two years, she said. Employees contribution (12 per cent of wages) and employer's contribution (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years, she said. Under the Aatmanirbhar Bharat Rozgar Yojana, every Employees' Provident Fund Organisation (EPFO)-registered establishment taking new employees would get this subsidy.
'The good governance which the Congress government claims has resulted in a regime where women in Rajasthan are afraid to go out of their homes.'
In the July to September quarter of 2023-24 (Q2FY24), Voltas' revenues grew by 29.7 per cent year-on-year (Y-o-Y), but the adjusted net profit was down by 63 per cent Y-o-Y. The revenues hit Rs 2,290 crore, led by growth in the Unitary Cooling Products segment (up 15.4 per cent Y-o-Y, and in the EMP (Electromechanical project) business (up 66.8 per cent Y-o-Y). The UCP revenue rose to Rs 1,200 crore in Q2FY24, driven by volume growth despite weak consumer spending - the three-year annual growth is 18 per cent.
India needs significantly more domestic wherewithal to achieve and sustain the stated objective of 7-9 per cent growth.
'As long as economic growth remains steady, creating jobs and generating stable incomes, the rise in home loans should not create problems.' 'If the growth trajectory changes course over the medium term and interest rates rise along with inflation, the expanding trend in home loans may not sustain.'
Maharashtra Chief Minister Eknath Shinde on Wednesday said Memorandums of Understanding worth Rs 1.37 lakh crore have been signed at the World Economic Forum (WEF) annual meeting in Davos in Switzerland and termed it as a "big achievement". This will generate employment for one lakh people, said Shinde, who was in Davos to seek investments in Maharashtra. "The MoUs will not remain just on paper," he said, adding that foreign investors have shown trust and faith in the state government.
President Barack Obama has called for building world class infrastructure in the US, maintaining that countries like China are forging ahead in the sector.
Larger firms feel that the smaller players have muddied the waters for the IBC process, leading to excessive regulation of resolution Professionals.
Private firms will have to maintain a minimum net addition to their workforce each month from October this year to June 2021 to get the Employees' Provident Fund subsidy for the new recruits.
Sounding a note of caution, former Reserve Bank Governor Raghuram Rajan has said that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high interest rates and slowing global growth. Rajan said that sequential slowdown in the quarterly growth, as revealed by the latest estimate of national income released by the National Statistical Office (NSO) last month, was worrying. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged around 4 per cent.
With the government putting strong emphasis on job creation, experts on Thursday said measures proposed in the union budget can help create 5-8 million jobs in next 3-4 years across various sectors.
'India has a lot of potential, not just in commercial aspects, but also in hiring of people and sourcing of products.'
'If we have to restrict and fight terrorism, first and foremost, we have to ensure communal harmony in the country.'
In the recent past, Adityanath and the RSS seem to have come closer. The warmth is more on the part of the RSS. And even now, not all requests from the RSS are accommodated by the UP government, points out Aditi Phadnis.
Union Home Minister Amit Shah on Thursday appealed to the people of Manipur to maintain peace and promised that justice will be ensured to all sections of the society.
The country's largest software company Tata Consultancy Services (TCS) on Wednesday said its net profit increased 8.7 per cent year-on-year to Rs 11,342 crore in the September 2023 quarter. The Tata Group flagship had reported a net profit of Rs 10,431 crore in the year-ago period.
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