Prime Minister Narendra Modi on Monday expressed confidence that the NDA will get more than 400 seats and the BJP will win at least 370 seats in the Lok Sabha elections.
The payroll estimates, released by the EPFO based on its enrolment, threw up some contrasting trend between September 2017 and February 2018.
Some of India's largest companies have seen a slowdown in the growth of temporary, contract and casual jobs, as compared to the increase in their total workforce. The absolute number of such jobs is up 30 per cent between financial year 2017-18 and 2021-22 (FY18-22), shows an analysis of data collated from the annual reports of S&P BSE 100 companies. Forty-eight firms were considered for the final analysis based on the availability of uniform data across the last five years. In comparison, the total workforce numbers are up 36 per cent in the same period.
The railways, the country's largest employer, will be hiring 127,000 people in 2018-2019, for which 23.7 million are competing.
'How is the scheme running despite running such massive deficits?' 'This is because the number of new members are much more than earlier members who are drawing pension.' 'If this was done by a private organisation, it would have been called a Ponzi scheme in which the contribution by new members is being used to pay off old members,' says Harsh Roongta.
Indicating a faster-than-expected recovery, remittances from migrant labourers and the number of first-time EPFO registrations have crossed the pre-lockdown levels in September, according to a report. Another silver lining is the massive 60 per cent increase in the number of Jan Dhan accounts to over 41 crore and the balances in them, which also indicate the fall in crimes during the lockdown months, SBI Research said in a report on Tuesday. After a significant reduction in remittances due to the lockdown in April, it improved in June and July, and the numbers in September have crossed the pre-pandemic level in February.
With the new facility, settling PF withdrawal claims would just take few hours.
Indian economy is expected to grow by 10 per cent or more in the current fiscal, and 8 per cent plus in the next fiscal year, Niti Aayog Vice-Chairman Rajiv Kumar said on Tuesday. Addressing a book launch event, Kumar further said that seven years of the Modi government has laid a strong economic foundation for businesses to thrive in India. "There was a hiccup (in economic growth) for two years due to COVID-19 pandemic.
ASK Wealth Advisors says 5 million, CMIE's estimate is 2 million and Ghosh & Ghosh said it was 7 million!
While Employees State Insurance Corporation data shows job creation in February had dropped, Employees' Provident Fund Organisation said it had actually shown robust growth.
Ushering in a big wave of reforms by implementing the four labour codes, setting up the national social security fund to cover over 38 crore informal sector workers and improving the ease of doing business will top the agenda of the labour ministry in the New Year. In a major move, the ministry launched the e-Shram portal on August 26, 2021 for creating a national database of over 38 crore informal sector workers. It will help the government to ensure last-mile delivery of benefits of various social security schemes to the informal-sector workers.
A government panel examined the records of employees surveyed by Labour Bureau's quarterly enterprises surveys and mapped it with the EPFO's subscribers and found "unexplained variations" between the two.
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.
By region, Thiruvananthapuram leads with 247 defaulters, followed by Kolkata with 173 and Bhubaneswar with 115
Measures to promote ease of doing business, cut in tax rates for smaller enterprises to 25 per cent, and reduction in interest rates are creating the right atmosphere for new businesses to flourish, particularly SMEs.
One risk of investing in a very low-cost ETF is if a fund house runs it at below cost, it could close it if it fails to attract institutional money
India is not producing good jobs, but creating a lot of Rs 10,000-Rs 15,000 low-paid jobs which are not fancied by degree holders. Pai suggested that India adopt the Chinese model of opening up labour-intensive industries and building infrastructure near coasts, besides investing heavily in hitech R&D to meet the aspirations of job-seekers.
Most employment surveys suffer from drawbacks such as limited data coverage, infrequent data collection, and time lag
'There is a law that prevents the government from diluting its equity in the PSBs below 50 per cent.' 'That law has to be amended and given the parliamentary arithmetic of the political parties, it is not as simple to do that.'
The committee has termed the Employee Provident Fund Organisation's data on number of pensioners subscribed to the Employee's Pension Scheme, 1995 as 'inflated and imaginary'. Top officials of the labour ministry and the provident fund organisation were unable to explain how calculations for pensionary liability were arrived at without knowing the number of pensioners in the country.
Every organisation will also prioritise the areas requiring mandatory inspection, and the cases forwarded by the CAIU will be on data and evidence basis.
The biggest worry is not the shrinking of the labour market, but the collapse of good jobs.
In 5 years, the AMC has clocked a growth rate of 40% with its AUM up nearly 4 times.
'If you consider only demonetisation and GST as my government's work, it will be a big injustice to me.'
If you looked back at 2018 and had to give it a name, the Year of Limitations might be the most accurate.
Rejecting criticism of jobless growth, he said if state after state is creating good number of jobs, how can the Centre be creating joblessness?
The Congress president tagged a Business Standard story which cited a report which said the unemployment rate is highest in 45 years.
India can be rated as among the best performing economies in the world
If people can lobby me for making changes in policies that goes against the country's interest, I won't keep myself in this position, says the vice chairman of NITI Aayog.
Sinha said the data on economic growth put out by the Central government cannot be trusted.
A glance back at some important events that occurred in 2018.
'It is unlikely that foreign portfolio investors (FPIs) might increase their India allocation, given the overweight status for most FPIs.' 'Given the commentary from the Republican Party, an anti-imports approach means money will not flow out of the US.'
'The rule for millennials is: You can have a career for life.' 'You have to constantly adapt to the needs of the industry to stay relevant.' 'The jobs will be the same, but the skill sets required will be different.' 'Technology will dominate the nature of jobs available in the future.'
After helping the government in policymaking since October 2014, Chief Economic Adviser Arvind Subramanian is returning to academics and will be teaching at Harvard Kennedy School on a visiting position. In an interview to Dilasha Seth and Somesh Jha, he says the ease of doing business agenda needs to move forward and India must try to integrate with the global value chains. Edited excerpts.
Modi said these steps exemplified his government's approach of 'minimum government and maximum governance'.
Banks get bonds boost to raise funds for core sector; up to Rs 50 lakh of home loans in metros and Rs 40 lakh in other cities not to have CRR, SLR requirements
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