Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Inflation has reappeared as a global issue in both advanced and emerging economies and India needs to be wary of "imported inflation", especially due to high oil prices, according to the Economic Survey 2021-22 released on Monday. "Inflation has reappeared as a global issue in both advanced and emerging economies. "India's Consumer Price Index inflation stood at 5.6 per cent YoY in December 2021 which is within the targeted tolerance band," the survey report presented in the Parliament by Finance Minister Nirmala Sitharaman noted.
Most employment surveys suffer from drawbacks such as limited data coverage, infrequent data collection, and time lag
There is, between Rao's tenure as PM and the current Modi regime, a powerful resonance of how transition can be managed. Rao's tenure saw many scams -- one where he was supposedly approached by Harshad Mehta with a bribe for making the securities scam go away. The Opposition insisted on a JPC. Despite knowing a JPC report would undermine him politically, Rao agreed to one, saying he had 'nothing to hide'.
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.
Sidhu was in Patiala to take part in a protest against inflation when the Supreme Court verdict came in.
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.
11 categories of industries will be exempt from the Madhya Pradesh Industrial Relations (MPIR) Act of 1961. This includes textile, leather, cement, iron and steel, electrical goods, sugar, electricity, public motor transport, engineering including manufacture of motor vehicles, among others.
The labour-intensive sector contributes about 15 per cent of the country's overall exports.
Unemployment was worse only in the pre-demonetisation period, according to the data, at 9.6 per cent in August 2016.
Prachi Dhabal Deb, who began her career as a financial analyst, but found her heart in the field of confectionery art.
A special bench headed by Chief Justice N V Ramana, in an interim order uploaded Wednesday night, also directed the Commission for Air Quality Management in the NCR and Adjoining Areas to 'commission a scientific study of air quality based on available data of previous years bearing upon recorded levels of air pollution'.
'80% of the rural and urban population don't have enough purchasing power.'
France defender Benjamin Pavard made a spectacular comeback to the team as his superb second-half strike saw them beat Ireland 1-0 away in Euro 2024 qualifying Group B match.
A plea was filed in the Supreme Court on Wednesday challenging the Delhi high court's May 31 verdict which dismissed a petition seeking to suspend all construction activity of the Central Vista Avenue redevelopment during the COVID-19 pandemic while describing it as a 'vital' and 'essential' project of national importance.
Nothing in India's recent history suggests that India can provide 8-9 million jobs a year, let alone generate 50 million jobs in any reasonable time, notes Mahesh Vyas.
Heavy overnight rains in Uttar Pradesh on Friday led to the deaths of at least 22 people, including nine labourers who were buried alive under the debris when an under-construction wall in the state capital collapsed on their huts.
'Have a candid discussion with your management and raise your concerns,' suggests HR Guru Mayank Rautela.
'One of the biggest employment generators, the MSMEs, have not got much from the government.'
India's gig workforce is expected to expand to 2.35 crore by 2029-30 from 77 lakh in 2020-21, a NITI Aayog report said on Monday, and recommended extending social security measures for such workers and their families in partnership mode as envisaged in Code on Social Security. The report titled 'India's Booming Gig and Platform Economy' further said gig workers are expected to form 6.7 per cent of the non-agricultural workforce or 4.1 per cent of the total livelihood in India by 2029-30. Gig workers can be broadly classified into platform and non-platform workers.
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.
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.
Of $90 billion remittances that India is expected to receive in 2022, only $27.4 billion has come in the first half of the year.
While India's GDP growth slowed to five-year low of 5.8% in Q4, China grew at 6.4%.
Developers grappling with labour shortage and getting construction material to sites could be among a list of problems.
The Biden administration on Friday issued a formal notification to delay the implementation of the previous Trump regime's controversial rule to raise mandatory minimum pay for foreign workers on H-1B visa, the most sought after among Indian IT professionals. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or technical expertise. The technology companies depend on it to hire tens of thousands of employees each year from countries like India and China. The Department of Labour in its federal notification published on Friday said that it is considering whether to propose a further delay of the final rule's effective date and accompanying implementation periods that are currently scheduled to take effect on May 14, 2021, and July 1, 2021, respectively.
States were directed to ensure there is no movement of people across cities or on highways. Only movement of goods should be allowed.
There is no sign of it losing popularity with a significant section of the voting population, which appears to be attracted to the party for identity reasons, observes Aakar Patel.
Netanyahu, who has won the backing of 64 Members of the Knesset (Israeli Parliament), has been assigned the task to form the next government, a statement from the Presidency said.
Lack of skilled labour, among other factors, led to 187,062 vacancies in nine sectors during the first quarter of the current fiscal year, showed the new revamped quarterly employment survey (QES). This accounted for a little over 0.6 per cent of the total jobs given by these establishments till April-June 2021-22. The nine sectors - manufacturing, construction, trade, transport, education, health, accommodation and restaurants, IT/BPOs and financial services - employed 30.8 million people.
'The economic impact of this lockdown is evidently huge.' 'Its impact on the livelihood of vulnerable sections of the society is immeasurably bigger,' observes Mahesh Vyas.
With 99 per cent of the ballots counted, Netanyahu-led right-wing bloc has taken a comfortable lead with 64 seats in the 120-member Knesset, paving way for his triumphant return.
Experts said a dip in consumption expenditure indicated an increasing prevalence of poverty in the country.
The Centre has allocated Rs 73,000 crore to the rural employment guarantee programme Mahatma Gandhi National Rural Employment Guarantee Act for the next fiscal 2021-22, substantially lower than the actual expenditure of Rs 1.11 lakh crore in the current fiscal which included an additional Rs 40,000 crore for the scheme given by the government in the wake of the pandemic's impact on the economy.
While overall employment rose from 456 mn to 463 mn between FY11 and FY15, with farm employment falling by 26 mn over the same period, the net addition to employment over the entire four year period was a mere 7 mn.
Former India opener Virender Sehwag has taken a dig at Chennai Super Kings' faltering IPL campaign, saying that some of their batsmen think of the franchise as a "government job" in which remuneration is assured irrespective of performance.
A decision in this regard was taken in the Cabinet meeting chaired by Prime Minister Narendra Modi.
India is much better placed today to deal with future waves of the pandemic relative to the first wave, RBI deputy governor Michael Patra said.
India has the lowest labour force participation rate in South Asia and one of the lowest in the world, points out Aakar Patel.
The biggest worry is not the shrinking of the labour market, but the collapse of good jobs.
