'For the common man, the economic conditions are not going to get better.'
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.
A senior official in the central labour commissioner's office said the efforts of the government were to resolve the cases amicably and not to press for legal action against employers. "Everyone is going through tough times. We could initiate legal action if we want but that's not the idea. We want to address the issues amicably," the official said.
India on Monday played down the controversy over the derogatory remarks by a Bharatiya Janata Party leader, saying its ambassador to Qatar has already conveyed its position to the Gulf country and there was nothing new to add.
The Union home ministry and the labour ministry have asked state governments to coordinate with the chief labour commissioner's (CLC's) office to give a comprehensive data of all the migrant workers by April 11.
Sober by temperament and nature, Kharge has never landed in any major political trouble or controversy.
This is the Upper House's third best productive session in the last 14 sessions since the Monsoon Session (243rd Session) of 2017, the Rajya Sabha officials said.
Rahul's remarks come against the backdrop when India reported more than 1.52 lakh new COVID-19 cases on Sunday. This is the fifth consecutive day when more than one lakh cases have been reported in the country.
This decision would pave the way for crediting Rs 54,000 crore as 8.65 per cent interest for 2018-19, into the accounts of more than 6 crore EPFO subscribers.
Fifteen Cabinet ministers and 28 Ministers of State were sworn-in by President Ram Nath Kovind at a ceremony at Rashtrapati Bhavan on Wednesday evening.
Agnipath offers jobs to youngsters between 17.5 years and 23 years of age. The unemployment rate in this age group has risen from around 23% in 2017 to over 50% since 2020. Every second person who is looking for employment in this age group is unemployed, explains Mahesh Vyas.
'The government is just laying foundation stones everywhere.' 'It has hardly inaugurated anything.'
In the Upper House of Parliament, Chairman M Venkaiah Naidu did not allow adjournment notices moved by opposition members on the issue of price rise, prompting members of the Congress, the Trinamool Congress, the Left parties, the Dravida Munnetra Kazhagam, the Aam Aadmi Party, the Nationalist Congress Party, the Rashtriya Janata Dal and the Shiv Sena to create an uproar.
If elected, he will be the second All India Congress Committee president from Karnataka after S Nijalingappa, and also a Dalit leader to hold the post after Jagjivan Ram.
The reshuffle had politics at its heart, so the biggest complement of new ministers, both Cabinet rank and below, came from UP, which will see assembly elections in a few months.
The EPFO had decided that 8.15 per cent interest from its debt income would be credited immediately and the remaining 0.35 per cent capital gains from the equity sale would be given later, subject to its redemption.
Retail sales of cars are back to January 2018 levels in August 2021. Two-wheeler retail sales are 22 per cent lower, nearly four years down the line.
Talking to PTI Amarjeet Kaur, General Secretary of All India Trade Union Congress (AITUC), said, "The two-day nationwide strike by the joint forum of central trade unions has begun this morning". About the impact of the agitation, she said that the entire coal belt (mining area) is affected in Jharkhand, Chhattisgarh and Madhya Pradesh. She also said that there is a good response in industrial areas of Assam, Haryana, Delhi, West Bengal, Telangana, Kerala, Tamil Nadu, Karnataka, Bihar, Punjab, Rajasthan, Goa, Andhra Pradesh and Odisha. The AITUC official noted that the banks and insurance sectors are affected all over India, while steel and oil sectors are also seeing partial impact due to the strike. Kaur said that she has got preliminary reports that markets are closed in Odisha.
The government has approved 8.5 per cent rate of interest on employees' provident fund for the 2020-21 fiscal, a source said. Just ahead of Diwali, this is a good news for over five crore subscribers of the Employees Provident Fund Organisation (EPFO). The 8.5 per cent rate of interest on provident fund deposits for the last financial year was decided by the EPFO's apex decision making body Central Board of Trustees (CBT) headed by Labour Minister in March this year.
The intensity of power crisis this season has hit a new high with average coal stock dipping to less than eight days. The first of a pan-Indian series, based on a ground report, shows how the Manesar industrial hub is coping with the challenge. As the scorching heat wave and the lengthy power cuts intensify in Haryana, the usually bustling labour chowk of the Industrial Model Township (IMT) of Manesar wears a deserted look.
Mapanna Mallikarjun Kharge, a staunch Gandhi family loyalist from Karnataka, has become the Congress' first non-Gandhi president in 24 years.
The portal, which has been tentatively named by the labour and employment ministry as the National Portal for COVID-19 Affected Unorganised Migrant Workers, will gather the details of all the unorganised sector workers who are stranded in relief camps, residential or industrial clusters.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
Gandhi noted that lakhs of migrants continue to walk hundreds of kilometres to reach back their homes without food, water, medicines and cash. She also accused the central government and the Railways of completely ignoring the demands made by the Congress for ensuring the safe and free travel of migrant workers and labourers to their homes.
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.
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.
Employment in nine selected sectors, including construction, manufacturing and IT/BPO, was at 3.08 crore in the April-June quarter of 2021-22, reflecting a growth of 29 per cent compared to 2.37 crore reported in the Economic Census of 2013-14, according to a survey. Labour and Employment Minister Bhupender Yadav on Monday released the report of Quarterly Employment Survey (QES) part (April to June 2021), of the All-India Quarterly Establishment-based Employment Survey (AQEES) prepared by the Labour Bureau. Announcing the results, Yadav said the estimated total employment in the nine selected sectors from the first round of QES is 3 crore and 8 lakh approximately against a total of 2 crore and 37 lakhs in these sectors taken collectively, as reported in the sixth Economic Census (EC 2013-14) reflecting a growth rate of 29 per cent.
Parliamentary standing committee on labour, led by Biju Janata Dal MP Bhartruhari Mahtab, has said in its report that it is unjustifiable for owners to pay workers' wages during natural calamities.
The death toll due to COVID-19 rose to 543 and the number of cases climbed to 17,265 in the country on Monday, according to the Union health ministry.
The UN report stated that China has committed to "other predominantly Muslim communities" in Xinjiang Uyghur Autonomous Region
The ceiling of gratuity amount under the Payment of Gratuity Act, 1972, has been raised from time to time keeping in view overall economic condition and employers' capacity to pay and the salary of employees, which have been increased in private sector and in PSUs.
Retirement fund body EPFO has retained 8.5 per cent interest rate on employees' provident fund (EPF) for 2019-20 for its over six crore members as decided earlier, and also began crediting the same into their accounts on Thursday. A large number of the members of the Employees' Provident Fund Organisation (EPFO) would be able to see their updated EPF accounts with credit of 8.5 per cent interest for 2019-20, from Friday, a senior official told PTI. The official further said the labour ministry has already sent the direction to credit the 8.5 per cent interest on EPF for 2019-20 to the EPFO, and the body has already started crediting interest into the members' account for the last financial year.
Given the rapid changes in the Indian labour market, there is an urgent need to have current, accurate and publicly available data through regular, dynamic and comprehensive surveys. Indeed, this was the intention behind constituting the NITI Aayog Task Force on Improving Employment Data. The attempts by the government to "improve" labour data has actually made it worse, say Rosa Abraham, Janaki Shibu & Rajendran Narayanan.
Developers grappling with labour shortage and getting construction material to sites could be among a list of problems.
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 fresh companies were moved into the valley as part of the strategy of 'enhancing security and visibility' of the forces on the ground following the killings, they said.
BMS general secretary Virjesh Upadhyay said, "There are many anomalies in the draft rules on Code on Wages which need to be amended. The new rules are silent about many provisions clearly provided in the four Acts subsumed in the code."
At present, the EPFO is mandated to invest 20-45 per cent of its incremental funds - of around Rs 1.5 trillion - in debt-related instruments.
After taking benefit of the scheme, jobs increased by around 11 mn in establishments that took loans.
Over 1.4 lakh jobs are estimated to be created between March 2019 and March 2021 in various central government departments, according to the Union Budget presented on Monday. The strength of government establishments was 32,71,113 as on March 1, 2019, which is estimated to increase to 34,14,226 by the first day of next month - an increase of 1,43,113, it said. The budget documents have given a break-up of the jobs estimated to be created in central government departments between 2019 and March 2021.
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