The Union Budget seems to have elicited a starkly opposite view from rural India compared to urbanites, says Mahesh Vyas.
Probably in August. We can argue whether RBI is dovishly neutral or neutrally dovish but the telltale signs of at least one more rate cut are strewn all over the policy statement, points out Tamal Bandyopadhyay.
Hopefully, the small recovery in the labour force and employment seen in the September-December 2017 wave will gather momentum in the coming waves, says Mahesh Vyas.The challenge, says Mahesh Vyas, is to find the corresponding jobs for these aspirants.
'Walmart will source globally and more from China and will dump these cheap goods in India, making our country a dumping yard.'
'It could take 12 months or more for hiring to get back on track.' 'New opportunities would come up and there will be demand for skillsets that can help dealing with the current situation.'
'It does not look like unemployment is a priority for the government.' 'If there was one external factor which could have made an impact on low investment and low jobs, it was the Budget and it has not made any difference.' '2020 is going to be a difficult and challenging year.'
Sticky labour laws and a difficult business environment have led to employers shifting their new hiring in favour of contract labour where social security is much lesser, says Mahesh Vyas.
Several individuals and organisations, including the US Chambers of Commerce and the National Association of Manufacturers, have filed a lawsuit against the Trump administration's recent rules related to the H-1B visa, terming them "arbitrary" and "haphazard" regulations that will undermine high skilled immigration into America. Early this month, the Trump administration announced new restrictions on H-1B non-immigrant visa programme which it said is aimed at protecting American workers, restoring integrity and to better guarantee that H-1B petitions are approved only for qualified beneficiaries and petitioners, a move which is likely to affect thousands of Indian IT professionals.
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
The Indian Olympic Association on Thursday backed the International Olympic Committee's assertion that the upcoming Tokyo Olympics will weather the coronavirus pandemic and be held on time without a glitch. The IOC and the Tokyo Games organisers are adamant that the Games will start on July 24 as scheduled despite the coronavirus pandemic crippling health care systems and destroying economies across the world.
Sivan said the Indian National Space Promotion and Authorisation Centre (In-Space) has been created under the Department of Space as a separate vertical for taking independent decisions with respect to permitting and regulating space activities of the private sector.
The biggest worry is not the shrinking of the labour market, but the collapse of good jobs.
The pressure on India to take a hostile attitude towards Russia and China was not subtle, but it was guarded, observes Ambassador T P Sreenivasan after Monday's 2+2 ministerial meeting in Washington, DC.
As of the week ended July 2017, the unemployment rate was 3.1 per cent. This is the lowest unemployment rate recorded. Rural unemployment was also very low at 2.8 per cent.
'Any entrepreneur who wants to create companies on blockchain will have to move outside India.' 'A ban will also wipe out the entire asset investing class that has built up in India.'
Ola's factory will create 10,000 jobs and serve as the company's global manufacturing hub for India and international markets.
'We would advise investors to invest in a disciplined way in equities for the long term.'
RBI is scheduled to announce mid-quarter review of monetary policy for 2013-14 on June 17.
It is necessary that at least three million additional jobs (if not more) are created every year to ensure that there isn't an increase in the stock of unemployed, says Mahesh Vyas.
Haripriya also claimed that the economy of Bangladesh has strengthened on the back of smuggled cows from India, primarily Assam.
'In countries like Japan, one out of 11.7 tests turns out to be positive, which is among the highest in the world. Italy tests 6.7 persons for one positive test while the USA tests 5.3 persons and the United Kingdom 3.4'
We are adapting to the situation by innovating new delivery modelss, launching brand campaigns that are impactful in the current context and closely monitoring changes in consumer buying behaviour, he said.
The Budget will obviously be crucial. But US President Donald Trump may have even more of an influence than Finance Minister Arun Jaitley when it comes to sentiment, argues Devangshu Datta.
Commercial banks are also expected to be soft on loan repayments and restructure the loans, if not write them off.
India will receive normal monsoon this season, country's meteorological department said on Wednesday in its forecast for the Southwest monsoon that covers 75 per cent of the country, and thereby may bring much-needed respite to the economy, which is reeling under the catastrophic effect of the Covid-19 pandemic.
Amid an increase in localised lockdowns across the country, Reserve Bank Governor Shaktikanta Das on Wednesday said there is no need for a loan repayments moratorium at present, stating that businesses are better prepared to face the situation. It can be noted that the RBI had announced a six-month moratorium in the early days of the national lockdown last year to help borrowers impacted by a chilling in economic activity. The entire state of Maharashtra is in a lockdown for non-essential services and localised and night lockdowns are being observed in many pockets of the country, including the national capital, to restrict the surge in cases.
Modi government must fix policy paralysis.
Slowdown persists in China. India's GDP estimates for 2015-16 are liable to be pared; projections for 2016-17 are lacklustre.
The lockdown should have been used to drum into Indians' head the reasons for social distancing and the necessity for it, and the costs of not applying it in our daily lives and it should have been used to set up the systems that would manage large numbers of infected, observes Mihir S Sharma.
According to a study by the medical journal, the Lancet, air pollution has emerged as the deadliest form of pollution and the fourth leading risk factor for premature deaths worldwide.
'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay.
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.
Similarly, FDI from Cyprus too increased by about three-times to $879 million in the last financial year from $296 million in 2018-19.
'Whatever ED officers do -- issue summons, conduct searches or arrest a person -- they have to face the courts.'
Modi placed a $12.6 billion bet in this year's budget on road building
Insufficient rainfall will have a negative impact on the economy.
Available evidence suggests that we are on the way to a very costly failure of the current demonetisation scheme, says M R Narayana.
Sun Pharma was the top loser in the Sensex pack, shedding 2.37 per cent, followed by HCL Tech, Reliance Industries, IndusInd Bank and L&T.
'It is less dependent on imported capital.'
'India-China economic ties are likely to take a hit in the wake of the new situation, but that also provides India with a new opportunity to strengthen its manufacturing base,' points out Dr Rajaram Panda.
