The state's joblessness is three times higher than the national average of 7.8 per cent.
The production of major agricultural crops is likely to drop by 12 per cent for 2002-03, reflecting an adverse impact of poor monsoon, according to the Centre for Monitoring Indian Economy.\n\n\n\n
India's agricultural output declined during the year 2002-03 to 183 million tonne compared to 212 million tonne produced in previous year, a drop of 13.9 per cent, according to Centre for Monitoring Indian Economy.
Tax collections might fall short of expectations of the Union Budget for 2002-03, in spite of recording a "healthy" growth during the nine-month period ended December 2002, according to Centre for Monitoring Indian Economy.\n\n\n\n
India's agricultural production could see its biggest drop in more than two decades this year, due to a drought that hit nearly one-third of the country, Centre for Monitoring Indian Economy said on Friday.
The Centre for Monitoring Indian Economy on Tuesday said industrial production growth is likely to decline in the second half of the current fiscal, while the first advanced estimate of kharif crop showed a 10 per cent drop in food production.\n\n\n\n
India has the best hiring outlook globally, second only to Brazil, with 54 per cent of companies surveyed planning to hire in the December quarter as against 51 per cent in the September quarter, according to a report by global staffing firm ManpowerGroup. The report titled "ManpowerGroup Employment Outlook Survey" showed that India has the strongest net employment outlook for the December quarter in the Asia-Pacific region, followed by China (46 per cent), and Australia (38 per cent). The global net employment outlook in the December quarter would stand at 30 per cent, down by three percentage points from the June-September quarter, yet six percentage points higher than the same period last year, the staffing firm said.
The development of private data sources is a hugely positive development. It should serve as a challenge to the government to improve its own record on producing timely and reliable statistics, points out T N Ninan.
Driven by erratic monsoon and higher global crude prices, inflation is likely to grow by 5.7 per cent in the current fiscal ending March 2006, according to the Centre for Monitoring Indian Economy.
When it comes to losing a job permanently, the youngest and the oldest segments in the workforce have reported an increase in setbacks in the second wave of the pandemic, a survey of by a Fortune500 company has said. The survey, conducted in April this year, covered 2,000 persons in India. Six per cent of those over 55 years of age reported having permanently lost their job, as against 4 per cent last year. In those aged under 24, the proportion reporting a permanent job loss has increased to 11 per cent from 10 per cent in the year-ago period, the survey done by financial technology company FIS said.
Expenditure on new projects slowed down for the second quarter in a row amid an uncertain global environment and higher borrowing costs. There were new projects worth a cumulative Rs 3.26 trillion in the July-September period, according to data provided by project tracker Centre for Monitoring Indian Economy (CMIE). This figure is much less than Rs 4.39 trillion in the June quarter (Q1FY23) and Rs 8.46 trillion in the March quarter (Q4FY22).
'If private capex has to kick in, there should at least be 2-3 years of visibility.'
Four-nation grouping Quad on Tuesday launched a major new initiative for the Indo-Pacific that allows the partner countries to fully monitor the waters on their shores and help ensure peace and stability in the region, a move that comes amid China's increasingly intimidatory behaviour.
Congress spokesperson Abhishek Manu Singhvi cited a viral video on social media platforms, claiming that in it Modi's voice is heard in a call with BJP rebel Kripal Parmar.
These could include strengthening the public-private partnership (PPP) dispute resolution mechanism, uniform PPP institutional framework, easier terms for infrastructure companies accessing bond markets, and tax sops, Business Standard has learnt. Investment in infrastructure projects with high multiplier effect has been the Centre's main plank to revive the economy, create employment and boost consumption.
In nearly 100 seats, the BJP stands almost no chance of winning. In 200 seats, it is a direct fight between the BJP and the Congress where the BJP has an upper hand. In 243 seats, the BJP is pitted against regional parties and it is not going to be easy. That is why 400 seats may end up as a pipe dream, states Ramesh Menon, author of Modi Demystified: The Making of a Prime Minister.
The country's unemployment rate in July fell to 6.80 per cent, the lowest level in the last six months, amid rising agriculture activities during monsoon, according to Centre for Monitoring Indian Economy (CMIE) data. The unemployment rate dropped to 6.80 per cent in July from 7.80 per cent in June, the CMIE data said. Rural unemployment declined 6.14 per cent to 272.1 million last month from 265.2 million or 8.03 per cent in June, it said.
Urban men lost more jobs than women during the second wave of COVID-19, implying a complete loss of livelihood for millions of households, according to the Centre for Monitoring Indian Economy (CMIE). The most disproportionate loss of jobs because of the first wave of COVID-19 was among urban women, CMIE's MD and CEO Mahesh Vyas said in his analysis. He said urban women account for about three per cent of total employment, but they accounted for 39 per cent of total job losses in the first wave of the pandemic.
'The government has given up its focus on economic growth because it it not something Modi has been able to fully understand.' 'This explains the extraordinary focus on divisive politics by the BJP even at a time when the world's most important man in visiting India,' notes Aakar Patel.
'Nobody is talking about the inequality that is going to come.'
A look at six indicators shows all of them have collapsed from positive growth in April to contraction in September.
A business in India wanting access to maps and geospatial data would typically have to wait months before it got what it wanted. All this is set to change with the new guidelines on geospatial data, report Neha Alawadhi and Peerzada Abrar.
A V Rajwade wonders if the Modi sarkar is pursuing price stability at the cost of potential social instability in both rural and urban India.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Nearly 3.64 lakh educated and "semi-educated" youngsters had registered with employment exchanges across Gujarat till December 2021, according to state government data.
"India has become the fastest growing major economy in the world. Despite the global slowdown, we have registered excellent growth. Today, India is a bright spot in the global economy. We are seen as the engine of global growth," he said.
Go beyond the curriculum. Talk to experts. Build your network, says Dr NV Raghavendra.
New projects fell 6.3 per cent in the December quarter compared with the September quarter. The value of new projects in the just-concluded quarter was Rs 2.1 trillion, according to the data from Centre for Monitoring Indian Economy (CMIE), which was lower than the Rs 2.2 trillion seen in the September quarter. It is, however, higher than Rs 1.5 trillion recorded for the quarter ended December 2020, the first year of the Covid-19 pandemic. This data ties in with the November data for core sector growth, an index of eight core industries, which grew at its slowest pace since early 2021.
It was women who unambiguously bore the brunt of the lockdown joblessness, says Kanika Datta.
The rate of unemployment was the highest in the urban areas, which constitute the most number of red zones due to the COVID-19 cases, at 29.22 per cent, as against 26.69 per cent for the rural areas.
In his address after more than 75,000 people were given appointment letters for various government jobs in the first tranche, Modi acknowledged the challenges facing the economy the world over with many countries hit by a record inflation and unemployment and said India is making every effort to come out of the situation unscathed.
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
Modi said his government was committed to provide equal opportunities to all sections of the society.
India's central bank has however, forecast an 8.2 per cent economic growth in FY 11.
While the lockdown hit employment in all age groups, it hit the employment of youngsters who are less than 29 years of age much more. The lockdown also hit women more than it has affected men, reveals Mahesh Vyas.
The trio, 'twin shocks' of demonetisation and GST, 'twin balance sheet' problem that has been weakening India's banking system and the 'twin deficit' problem will continue to challenge economic management and performance in the year ahead, says Shankar Acharya.
Unemployment was worse only in the pre-demonetisation period, according to the data, at 9.6 per cent in August 2016.
'The jobs that are being created now are the delivery boy jobs which are of extremely poor quality, or contractual jobs where you hire a person on a per piece basis.'
Niti Aayog vice-chairman Rajiv Kumar debunked claims of jobless growth, saying how can a country grow at an average of 7 per cent without employment.
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