India's gig workforce is expected to expand to 2.35 crore by 2029-30 from 77 lakh in 2020-21, a NITI Aayog report said on Monday, and recommended extending social security measures for such workers and their families in partnership mode as envisaged in Code on Social Security. The report titled 'India's Booming Gig and Platform Economy' further said gig workers are expected to form 6.7 per cent of the non-agricultural workforce or 4.1 per cent of the total livelihood in India by 2029-30. Gig workers can be broadly classified into platform and non-platform workers.
Rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage as well as fuel cell development were some of the suggestions made by various stakeholders at the pre-Budget consultation meeting convened by Finance Minister Nirmala Sitharaman. The customary pre-Budget consultation meetings were held with the finance minister virtually between December 15 and December 22, as per the finance ministry statement. More than 120 invitees representing seven stakeholder groups participated in eight meetings, scheduled during this period, it said.
It's high time we now turn the popular question on its head -- when there is no growth in jobs for several years, how can the real GDP grow at 7 per cent per annum, says Mahesh Vyas.
Gandhi said it was his responsibility to tell the truth and it is for the people to listen or not to listen.
The 30-day moving average of the unemployment rate had climbed up much ahead by January 6, to 7.8%, says Mahesh Vyas.
The Union Budget announcement of a minimum support price (MSP) that will be 50 per cent more than the cost of production has started a debate on the calculation of cost. Ramesh Chand, member, NITI Aayog, speaks to Sanjeeb Mukherjee on this and related issues.
The Survey noted that while women account for almost half of India's population, their participation in labour market is almost one-third and has been declining.
Reliance Industries chairman Mukesh Ambani might have made news for purchasing the most expensive beach-side villa in Dubai recently, but he is not the only Indian eyeing the city for investment. Since Dubai allowed foreign investors full ownership in specific sectors in June 2021, a horde of Indian companies have moved or expanded into the desert city. The list even includes a kindergarten, an elementary and middle school, and a hotel that has sought 100 per cent ownership.
It is important to increase employment in general. It is even better to increase good quality jobs. Strategically, it is important to move people from farms to factories to improve overall labour productivity. It is important to improve job opportunities for women, for urbanites and for the educated. The Budget does not contain ideas to do any of this, points out Mahesh Vyas.
Dr Rakesh Mohan, former RBI deputy governor, and Dr Pronab Sen, former chairman of the Indian Statistical Commission discuss the issues facing the Indian rural and manufacturing sectors and what the government must possibly do to improve demand and perk up the Indian economy
The idea of three capitals has not been abandoned, even as the state lurches from financial crisis to crisis.
The Tamil Nadu Assembly on Saturday adopted a resolution urging the Centre to withdraw three contentious farm laws, against which farmers have been holding protests outside Delhi for months.
The country needs 100 million jobs in the formal sector in the next decade to take advantage of its demographic dividend. Also, it should get into the global supply chain to generate many of those by negotiating trade deals effectively, industry players and experts have said. "We need something like 100 million jobs in the next 10 years, which means that the non-agriculture sector has to generate 14 per cent job growth every year," said Aditya Ghosh, co-founder of Akasa Airlines, at the Global Economic Policy Summit organised by the CII.
Santosh Patkar of Devgadh Taluka Sindhudurg district of Maharashtra is a worried man these days. Devgadh, which is known as the home to world famous Alphonso variety of mangoes, has seen an unusual drop in yields which is affecting farmers' income. Being one of the primary agricultural produce from the area, Santosh is not untouched by this somewhat rare phenomenon. He said in his own mango garden, yields have come down by a third from most trees.
That is the number for job creation that India needs to achieve, argues T N Ninan.
The recovery seen in the increased economic activity till September or October is running out of steam. Labour statistics indicate a substantial slowing down of the economy in November, notes Mahesh Vyas.
Developers grappling with labour shortage and getting construction material to sites could be among a list of problems.
In the past 12 months, since September 2020, the net cumulative increase in employment has been just 44,483. This is negligible -- just 0.04 million on a base of over 400 million jobs, reveals Mahesh Vyas.
Chief Economic Adviser K V Subramanian on Monday said India is likely to post current account surplus in the current financial year as there is moderation in import due to under heating of the economy triggered by the COVID-19 crisis. This crisis is different from what the world witnessed during the taper tantrum, he said while addressing a virtual conference organised by industry body CII. Taper tantrum phenomenon refers to the 2013 collective reactionary response that triggered a spike in US treasury yields, after investors learned that the US Fed was slowly putting brakes on its quantitative easing (QE) program.
Big-ticket investments taking off is crucial for Kerala given the years it lost to labour militancy courtesy the same political forces currently in power, explains Shyam G Menon.
The agriculture ministry, in the last few weeks, issued guidelines and letters to states to ensure agriculture and food products reach consumers in a timely manner, while farmers don't have to come to the mandis to sell them.
Governments must encourage micro-irrigation, use of natural manure and pesticides in a big way. Farm income can be doubled by reducing cost as much as by increasing MSP, says Sanjeev Nayyar.
Shops selling essential products in Mumbai can remain open till 4 pm on all daysfrom June 7 while non-essential shops can operate till 4 pm on weekdays.Malls, theatres, and multiplexes will continue to remain shut.
India has been put in lockdown to halt the spread of the coronavirus outbreak. People have been told to stay indoors, but for many daily-wage earners this is not an option.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
RSS joint general secretary Manmohan Vaidya, apparently referring to the Congress's Bharat Jodo Yatra, described it as a "political gimmick" that will not serve its stated purpose of uniting masses.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
It is for the first time in the history of Independent India that not a single Muslim is part of the Union Cabinet.
Three civilians were killed and another injured in a mine blast near the Line of Control in Rajouri district of Jammu and Kashmir on Saturday.
Later, there may be some tax relief aimed at the middle class and measures to benefit the sectors worst hit by Covid-19 and the resultant nationwide lockdown.
'Crony capitalism will gain due to these Acts.'
'All imaginary figures are pushed by government bureaucrats.' 'They never showed that the production of wheat was less this time.'
Portfolios were on Tuesday allocated in the new Bihar cabinet headed by Chief Minister Nitish Kumar who, predictably, retained the all-important home department which helps him keep direct control on the state police.
India is experiencing jobless growth and skepticism abounding that the country may not be able to cash in on its demographic bonus
Acharya emphasised that the time is "really ripe" for land, labour and agricultural reforms in India.
The negative balance is largely on account of pending material cost for the work done under the programme during the year and even earlier.
Nitin Tyagi is a young farmer in Budhagaon village of Baghpat district of Uttar Pradesh. A few years ago, Tyagi left his fairly lucrative job in the medical industry and shifted base to his ancestral village to look after his land and property. He opened a small shop selling farm inputs in the village and also started taking a greater interest in agricultural matters which had so far been looked after by his father and uncles. Tyagi and his brothers primarily grow sugarcane, potato and wheat on nearly 10 acres of land with sugarcane taking up most of his time and effort. Being one of the most important and lucrative cash crops of the region, sugarcane is directly linked to the fate of millions of farmers in west UP and with it, the electoral fortunes of political parties seeking their votes in the coming assembly polls.
The substantially increased economic dualism may exert lasting negative influences which could include a reduced potential for economic growth; the persistence of a very weak employment and poverty situation; rising social and political discord; and heightened vulnerability to geopolitical challenges, cautions Shankar Acharya, former chief economic adviser to the Government of India.
Through the past few decades, India has been transformed from a largely agriculturally-oriented economy to one in which the services sector accounts for an overwhelming share of gross domestic product (GDP).
'From the time India liberalised in the 1990s, the government has policies are for facilitating the growth of the manufacturing sector.' 'The policies were put in the hope that growth of the manufacturing sector will lead to increased employment,' points out Chidambaran G Iyer, Senior Fellow, Pahle India Foundation.
