'The government is sincerely working on employment generation. Unfortunately, they are depending on these people from Harvard. Their wrong policies are killing jobs. The government has to come out of the Western framework on which they depend upon a lot.'
The top court also directed authorities to consider withdrawing all cases against migrant workers for alleged violation of lockdown norms under the Disaster Management Act.
ESIC board has relaxed norms to double payment of unemployment benefit under the scheme to 50 per cent of average wages of three months to cope with job loss between March 24 and December 31 this year in view of the COVID-19 pandemic.
Most political leaders in Punjab have come out in the open to oppose him, unlike the early 1980s when political leaders were scared of speaking against Bhindranwale, observes Sudhir Bisht.
Nearly 31 million Indians are unemployed and looking for jobs. While economic growth has been humming along, the pace of job creation has been poor. A revealing excerpt from Dev Kar's India: Still A Shackled Giant.
The state has allowed industrial units in special economic zones (SEZs) to lay off workers without government's sanction, regardless of the number of workers
According to the law, the contribution "should not be more than 5 per cent of the amount paid to gig workers. The government is likely to start seeking contribution from gig companies towards the fund from April 1, 2021.
Maharashtra Navnirman Sena chief Raj Thackeray on Tuesday said migrant workers from other states were responsible for the rapid spread of coronavirus in Maharashtra, which has been reporting a large number of new infections since the last few weeks.
The country's textile industry is concentrated in a few pockets of Gujarat and Maharashtra in the west and Tamil Nadu and Karnataka in the south.
With the two members quitting, the NSC now has only two members -- Chief Statistician Pravin Srivastava and NITI Aayog CEO Amitabh Kant.
In a two-pronged strategy to secure migrant workers, the Uttar Pradesh government has decided to set up a migration commission for the employment of such labourers in the state and made it clear that any state that wants them from UP has to seek its permission.
'Why has this turned out to be one of the greatest humanitarian crisis that has caught the Centre and the states in a bind with no answers to this unexpected tsunami?' asks Brigadier Narender Kumar (retd).
The UK cabinet is on Monday holding talks to consider options for tougher lockdown restrictions as the country recorded another daily high of Omicron cases at 12,133.
Among manufacturing companies that went to the National Company Law Tribunal (NCLT), chemicals and metal firms witnessed more resolutions while companies in the labour intensive (employment friendly) leather and textile sectors mostly get liquidated, reports Abhishek Waghmare.
In the draft rules, among 681 listed professions, armed security guards, supervisors, surveyors, and carpenters (class I) are proposed to be treated as highly skilled professionals; electricians, tailors and drivers are skilled; cooks and cobblers as semi-skilled and dairy coolies, office peons and sweepers as unskilled.
The lockdown has taught companies a lesson or two on running business with fewer human resources. These lessons are unlikely to be forgotten, observes Mahesh Vyas.
'The current financial year will see the full impact of this crisis, and we will start seeing the recovery in the next financial year.'
Availability of jobs at India's auto companies has shrunk significantly over the last two years, as the industry goes through one of its worst slowdowns. More than 60 per cent of the total workforce fell by 24 per cent in 2019-20, against 2017-18.
Jammu and Kashmir is likely to get around 25 lakh additional voters including outsiders after the special summary revision of electoral rolls being held for the first time after the abrogation of Article 370, an official said on Wednesday.
It is important to increase employment in general. It is even better to increase good quality jobs. Strategically, it is important to move people from farms to factories to improve overall labour productivity. It is important to improve job opportunities for women, for urbanites and for the educated. The Budget does not contain ideas to do any of this, points out Mahesh Vyas.
In May, Satpal Singh, who runs a dairy business with three buffaloes in Jewar, near Noida, was worried about the steep spike in input costs. Singh said dry fodder rates, which cost Rs 1,500-2000 per tractor trolley last year, were quoting at Rs 4,500-5,000. The price of other cattle feed ingredients (that include mustard meal and similar mixes) had also gone up from Rs 2,000 per quintal to Rs 3,100-3,200 per quintal.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
The US government has removed a regulation proposed by former president Donald Trump's administration that sought to narrow the definition of "specialty occupation" under the H-1B visa regime. The change comes as a relief for Indian information technology firms, which are among the largest users of such visas. "The Department of Homeland Security (DHS) has formally vacated a regulation that would have redefined the H-1B specialty occupation, restricted off site placement of H-1B employees, and otherwise increased employer compliance obligations. "The vacatur follows a federal court ruling that set aside the regulation because the agency did not have good cause to bypass notice and comment rulemaking, in violation of the Administrative Procedures Act," explained immigration law firm Fragomen.
The steady rise through most of July implies a greater demand for jobs. And most of this demand is being met, says Mahesh Vyas.
Professor, Indian Institute of Public Health, Hyderabad, Public Health Foundation of India, V Ramana Dhara, said the unlock has resulted in a return to old habits of indiscipline in physical distancing and improper mask use.
The encouraging news, however, is that India features among the top four countries out of 44 nations that projected a positive hiring trend.
'In India, a large proportion of the labour force does not have a regular job.' 'People are mostly employed as daily wage workers, agricultural labourers, small farmers and self-employed traders.' 'These move in and out of "jobs" fairly rapidly.' 'It is the high proportion of these workers in India that makes unemployment volatile,' explains Mahesh Vyas.
Earlier this month, the Central government said in a reply in Parliament it had taken measures to double farmers' income by the end of FY23 and the progress made so far indicated it was "on the right track". However, a close look at the data and at the assumptions made shows that as of now, it appears the country is unlikely to achieve the goal in real terms.
The biggest loss of jobs among salaried employees was of 'white-collar professional employees and other employees'. Among these are engineers including software engineers, physicians, teachers, accountants, analysts and so on, who are professionally qualified and are employed in some private or government organisation All the gains made in their employment over the past four years were washed away during the lockdown, reveals Mahesh Vyas.
With a surge in coronavirus cases in Delhi and its neighbouring cities, migrant workers and daily wagers fear another round of lockdown could push them into a severe financial crisis from which they might never recover.
The shipping business is like the heaving sea -- it's up and down, observes Shyam G Menon.
Prohibitory orders under Section 144 of the CrPC have been clamped in Mon town, but the situation is tense.
Telecom operators say the reason for the low increase in ARPU in the two metros could be linked to the massive reverse migration of labour.
'India is not so distant from years of high and entrenched inflationary expectations that it should start trying to play games with the economy the way the West's central bankers think they are entitled to,' argues Mihir S Sharma.
'The cost of the lockdown so far is the loss of about 11 million jobs.' 'It is important that a fresh lockdown does not make this worse,' asserts Mahesh Vyas.
'Had these three farm laws existed it would have become a huge election issue.'
Under the current terms agreed with the European Union, the UK is due to leave the bloc by May 22 if the British prime minister's repeatedly-rejected divorce bill clears the House of Commons or crash out without any deal in place by April 12.
The Indian economy will suffer lasting damage from the coronavirus crisis and after an initial strong rebound in FY22 (fiscal year ending March 2022) growth will slow to around 6.5 per cent a year over FY23-FY26, Fitch Ratings said on Thursday. "A combination of supply-side scarring and demand-side constraints - such as the weak state of the financial sector - will keep the level of GDP well below its pre-pandemic path," it said in commentary on the Indian economy. Fitch said India's coronavirus-induced recession has been among the most severe in the world, amid a stringent lockdown and limited direct fiscal support.
HR Guru Mayank Rautela tells you what you can do when you face such a situation.
Business activity has fallen by a fourth of the pre-COVID levels due to lockdowns imposed by states to contain the spread of the second wave of COVID-19, Japanese brokerage Nomura said on Tuesday. However, it said the falling activity levels will have a muted economic impact and maintained its growth estimates for the year, saying the lockdowns present "downside risks". As of April 25, the Nomura India Business Resumption Index (NIBRI) registered its steepest weekly fall in over a year of 8.5 percentage points to 75.9, which is 24 percentage points below pre-pandemic normal, the brokerage said in a statement.
