However, under several external factors -- such as technological disruption or advancement, regulatory or policy changes, or economic shocks -- the gig workforce may grow only to 32.5 million by 2047, a report points out.
The rate of unemployment in the country, measured in monthly term, rose to 5.6 per cent in May from 5.1 per cent in April this year mainly due to seasonal variation, showed the government data released on Monday.
In a double-dose bid to boost growth and employment prospects, the Union Cabinet on Tuesday approved a Rs 2.07 trillion outlay for a research development and innovation (RDI) Scheme to fund private sector innovations, and an employment-linked incentive (ELI) to create over 35 million new jobs over the next two years.
'If you don't fulfil whatever they ask, you are in trouble.'
'When manufacturing or even services cannot generate the kind of employment they are looking for, they prefer to be unemployed rather than under-employed.'
Unemployment rate in urban areas during the third quarter (October-December) of FY25 remained unchanged at 6.4 per cent compared to the preceding quarter, according to the latest quarterly Periodic Labour Force Survey (PLFS) data released by the Ministry of Statistics on Tuesday. While the unemployment rate for men worsened marginally to 5.8 per cent in Q3 from 5.7 per cent in Q2, for women, it improved to 8.1 per cent from 8.4 per cent.
In the past 10 years, over 500 PSB officers have died by suicide. When targets are overwhelming, senior management and customers are both impatient, and there is constant fear, not every banker has the resilience to survive and thrive, warns Tamal Bandyopadhyay.
The number of infected persons in the ministry are now at 36.
IT services company Infosys has laid off over 300 freshers who underwent foundational training at its Mysuru campus but could not clear internal assessments after three attempts, according to sources. IT employee union NITES, however, said the number of freshers affected by the move was much higher, and threatened to lodge an official complaint with the Ministry of Labour and Employment, seeking urgent intervention and strict action against the company.
The labour ministry had started quarterly surveys on employment after the global financial crisis hit the Indian economy in September 2008.
The next Census' findings will help identify the extent of India's ageing population and vulnerability levels.
Geopolitical tensions, trade policy uncertainties, volatility in international commodity prices and financial market uncertainties pose considerable risks to India's economic growth in the coming year, the finance ministry cautioned on Wednesday. "Global trade continues to be affected by uncertainty in the policy environment... tariff-related developments in multiple countries have heightened trade-related risks, affecting investment and trade flows globally.
The Supreme Court of India directed the government to establish a legal framework to protect domestic workers and address their exploitation.
The Rural Development Ministry has been allocated Rs 1.88 lakh crore in the Union Budget for 2025-26, around 5.75 per cent more than the allocation in the previous budget.
Taxing the existing retirement benefits schemes would affect the working class, the labour ministry said.
IT services company Infosys on Wednesday said it did not use force or intimidation tactics when it laid off trainees at Mysuru campus over performance-related issues, and that it was explaining the circumstances to the labour department authorities. In an interview to PTI, Shaji Mathew, chief human resources officer at Infosys, however, conceded that assessment failure percentages this time around have been "slightly higher" than in the past but dismissed charges that the tests had been designed for failure.
'Not only jobs are not being generated, but people are also losing jobs.'
Enforcement Directorate officials said on Friday they are probing a 'complex network' of agents and facilitators in India, Canada and the US who help Indians illegally enter the US via 'bogus' admissions in Canadian colleges.
Finance Minister Nirmala Sitharaman on Saturday said the government will arrange identity cards and registration on the e-Shram portal to assist 1 crore gig workers. Presenting the Union Budget 2025-26, the finance minister also said a scheme for the socio-economic upliftment of urban workers will be implemented.
The country came to a virtual stand-still when trade unions called a two-day general strike on February 20 pressing for implementation of their 10-point charter of demands.
A BJP leader in Uttar Pradesh has sparked controversy by suggesting that Muslim men cover themselves with tarpaulins to avoid being sprinkled with colors on Holi. The remarks, made by Raghuraj Singh, come days after a police officer in Sambhal made similar comments. The festival of Holi coincides with the second Friday of the month of Ramzan this year, leading to concerns about potential clashes. The controversy has fueled tensions between Hindu and Muslim communities in the state, highlighting the sensitive nature of religious festivals in India.
Following the lacklustre growth numbers in the second quarter (Q2FY25), economists believe the upcoming Union Budget for 2025-26 should focus on reforms that will stimulate consumption, manufacturing and spur employment. India's growth unexpectedly slowed to 5.4 per cent in the second quarter, due to low capital formation, weak consumption, besides adverse weather impact.
Retirement fund body EPFO added 16.05 lakh net new members in December, which is 9.69 per cent higher compared to November 2024, as per the payroll data released on Tuesday. Further, a labour ministry statement said there was a growth of 2.74 per cent in net payroll additions compared to December 2023.
It had earlier proposed cutting it down to Rs 250 crore due to slow progress in enrollment of new employees.
Recent documents by NITI Aayog and periodic labour force surveys on employment show that the importance of agriculture is rising in the Indian economy.
'Efforts are on to make the data readily available so that it proves useful for policymakers.'
Retirement fund body EPFO recorded a net addition of 19.94 lakh members in July this year, the labour ministry said on Monday. Union Labour Minister Mansukh Mandaviya said at a press conference that 10.52 lakh new or first-time workers subscribed to social security schemes run by Employees' Provident Fund Organisation (EPFO). The minister said almost 20 lakh net new members addition (19.94 lakh) was recorded in July this year.
Retirement fund body EPFO has registered 13.41 lakh net new members addition in October 2024, according to showed latest payroll data. This signifies increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO's effective outreach initiatives, a labour ministry statement said on Wednesday.
The NHRC has observed that the content of the news report, if true, raise a serious issue of human rights of the workers in violation of the labour laws and the guidelines issued by the Union Ministry of Labour and Employment from time to time.
Union Labour Minister Bhupender Yadav has exuded confidence that four labour codes, which would bring another wave of reforms, will soon be implemented as around 90 per cent of states have already come out with draft rules. In 2019 and 2020, 29 central labour laws were amalgamated, rationalised and simplified into four labour codes, viz, the Code on Wages, 2019; the Industrial Relations Code, 2020; the Code on Social Security, 2020; and the Occupational Safety, Health & Working Conditions Code, 2020, noted the Survey. During an interaction, Yadav told reporters that around 90 per cent of the states have already published draft rules on four labour codes and he expects the four legislations would become operational soon.
'This agreement will help the Indian workforce to move to non-traditional sectors of employment like teaching, nursing, and manufacturing.'
'This year overall hiring has seen a slight improvement as compared to the dip seen during the last financial year.'
The Ministry of Electronics and Information Technology (Meity) is looking at a proposal to generate 1.5-2 direct jobs for every Rs 1 crore invested by companies under the proposed electronic components production-linked incentive (PLI) scheme. If this plan fructifies, a Rs 10,000 crore investment under the proposed PLI scheme would bring with it the expectation of creating 15,000-20,000 direct jobs in electronic components sector.
The Ministry of Labour & Employment is investigating alleged "unsafe and exploitative work environment" days after the tragic demise of Anna Sebastian Perayil who worked with S R Batliboi, a member firm of EY Global. Perayil was a 26-year-old chartered accountant (CA) who died allegedly due to extreme work pressure at the firm. "Deeply saddened by the tragic loss of Anna Sebastian Perayil.
It's time we dispensed with the paper trail and shifted all labour law paper, workflows and permissions online.
The conclave drew valuable insights from former athletes and Olympians, including celebrated ones such as Anju Bobby George, Mary Kom, and Tarundeep Rai, all of whom shared their personal experiences and perspectives on what it takes to excel at the highest levels of sports.
The four labour codes are unlikely to be implemented this fiscal in view of slow progress on the drafting of rules by the states and also for political reasons like elections in Uttar Pradesh, a source said. The implementation of these laws assumes significance because once these are implemented there would be reduction in take-home pay of employees and firms have to bear higher provident fund liability. "The ministry of labour is ready with the rules under the four labour codes. But the states have been slow in drafting and finalising those under new codes.
The Supreme Court of India expressed concerns about the long-term sustainability of providing free rations to migrant workers, emphasizing the need for job creation and capacity building instead. The court's remarks came during a hearing on the ongoing issue of providing relief to migrant workers, a matter that gained prominence during the COVID-19 pandemic. The court questioned the government's reliance on freebies and stressed the importance of creating opportunities for migrant workers to become self-sufficient. The debate highlighted the challenges of balancing immediate relief with long-term economic solutions for vulnerable populations.
Prospects of a bumper kharif harvest are expected to lower food inflation in the coming months, making the country's inflation outlook benign, the Union Ministry of Finance (FinMin) said in its monthly economic report for October released on Monday.
World Athletics President Sebastian Coe met Sports Minister Mansukh Mandaviya and Primer Minister Narendra Modi in New Delhi on Monday and discussed India's intent to host the 2036 Olympics and development of athletics in the country.
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