Himanshu Aggrawal, CEO and co-founder of Aspiring Minds tells us why an increasing number of Indian graduates are becoming unemployable.
The economy faces more downside risks now as economic disruptions arising from the second wave are likely to stabilise only from July, warned the Swiss brokerage USB Securities. Last month, the brokerage had cut its GDP forecast by 150 bps to 10 per cent for FY22, which though is much higher than the consensus projections by others with some pegging it at as low as 8 per cent. Though adverse impacts on sequential growth is less severe than in the June 2020 quarter when it plunged by 23.9 per cent, as lockdowns are more targeted and localised and households and businesses have adjusted to the new normal now, still, it is increasingly possible that normalcy returns only by July as against our baseline assumption of June.
However, demand was still much higher compared to the previous years, underlining the scheme's vital role in providing employment to the rural poor, a vast majority of whom are migrants.
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
More than 40% of the companies surveyed showed job contraction in FY18, says a report by CARE Ratings
However, the demand for traditional IT work might decline.
'Always have two (not more) things you want badly in life -- really badly -- and it will bring such focus, such hard work and such sacrifice that you never knew existed inside you.' 'This is the secret sauce to success today and most days.' A must-read excerpt from Ronnie Screwvala's Skill It, Kill It: Up Your Game.
'The top 10 industries encompass 84% of the total new payrolls, indicating that industry is coming on steam after the initial hiccups following GST,' say Soumya Kanti Ghosh and Pulak Ghosh.
Bolstered by improved domestic demand, India's services sector expanded for the fourth consecutive month in January as business activities quickened and rising business optimism is set to sustain the growth momentum, a monthly survey said on Wednesday. The seasonally-adjusted India Services Business Activity Index rose from 52.3 in December to 52.8 in January, pointing to a quicker expansion in output. The index was above the critical 50 mark that separates growth from contraction for the fourth month in a row during January.
India's economy, estimated to contract by 6.9 per cent in 2020 due to the coronavirus pandemic, is forecast to record a "stronger recovery" in 2021 and grow by 5 per cent, according to a UN report which said the country's current fiscal year budget points to a shift towards demand-side stimulus, with an uptick in public investment. The report, 'Out of the frying pan ...Into the fire?' published Thursday as an update to the Trade and Development Report 2020 by UN Conference on Trade and Development (UNCTAD) said the global economy is set to grow by 4.7 per cent this year, faster than the 4.3 per cent predicted in September 2020, thanks in part to a stronger recovery in the US, where progress in distributing vaccines and a fresh fiscal stimulus of $1.9 trillion are expected to boost consumer spending.
'The most important priority for the next 25 years should be to strengthen our democracy so that it is supportive of social harmony, and to not just respect but to take pride in the diversity of Indian society in terms of the variety of languages, religion and religious practices and social norms,' explains Nitin Desai.
As of now, 12 million Indians join the workforce every year.
A reading above 50 indicates expansion while a one below this level means contraction.
His advice was to always start with small positions because we are bound to make mistakes; and remain humble because the markets can be merciless, remembers Debashis Basu.
UK-headquartered consumer goods giant Unilever on Tuesday announced a major organisational shakeup to make the company leaner, which involves some of its Indian-origin executives, and plans to lay off 1,500 staff as part of the wider restructuring of its global operations. Sanjiv Mehta retains executive leadership of Mumbai-headquartered subsidiary Hindustan Unilever, while Unilever chief operating officer (COO) Nitin Paranjpe will take on a new role as chief transformation officer & chief people officer, leading the business transformation and heading the HR function for the transformed organisation. The company said Sunny Jain, president of beauty & personal care, has decided to leave Unilever to set up an "investment fund in technology megatrends".
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Physical distancing of two metres - about six and a half feet - may not be enough to sufficiently prevent transmission of virus-carrying airborne aerosols indoors, says a study.
Equity benchmark Sensex climbed 154 points to end at a fresh all-time high on Monday, tracking gains in ICICI Bank, L&T and Kotak Bank amid persistent foreign fund inflows and a largely positive trend in global markets.
Indeed, although total industrial employment grew by over 6 per cent annually, organised industrial sector employment fell by 1 per cent per year, bringing the share of organised industrial sector employment down from 18 per cent (of total industrial employment) in 1998 to only 10 per cent in 2004.
The fact that the responses from the community to Mohan Bhagwat's remarks have ranged from guarded optimism to outright disbelief tells its own story, points out Kanika Dutta.
Former Pakistan spinner Saqlain Mushtaq has urged the International Cricket Council to review its existing 15-degree arm/elbow extension law for bowlers.
Over 10 million Indians have lost their jobs because of the second wave of COVID-19, and around 97 per cent of households' incomes have declined since the beginning of the pandemic last year, Centre for Monitoring Indian Economy (CMIE) chief executive Mahesh Vyas said on Monday. The unemployment rate measured by the think-tank is expected to come at 12 per cent at the end of May as against 8 per cent in April, Vyas told PTI, adding this signifies that about 10 million or 1 crore Indians have lost jobs in this period. Stating that the main reason for the job losses is "mainly the second wave" of COVID-19 infections, Vyas said, "As the economy opens up, part of the problem will be solved but not entirely."
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.
Employees are finding the 9 to 5 work cycles engaging anymore and are looking for greater flexibility, more challenging work, and new learnings.
Since jobs will remain scarce for the foreseeable future, an unemployment allowance should be the next big social-security initiative, suggests T N Ninan.
The preliminary processing of tax returns is already undertaken with the help of technology. There is now greater scope of using more technology to reduce the human interface even further, notes A K Bhattacharya.
As Boomers leave the work force, there are not enough Gen-Xers to take their place, a report has revealed.
Never let self-doubt get in your way and the fear of rejection stop you from growing.
'The good news is the technology industry is creating a space for you somewhere else.'
'Earlier-than-expected tapering from the US, followed by rate hikes, and locally, a potential third wave, which mimics the second wave in terms of severity.'
'Given all the linkages, the monthly registration data for new vehicles, may well be the single most accurate indicator of India's economic health,' points out Devangshu Datta.
The fall in investment rate is not surprising. But putting it together with rising share of wages in GVA, it shows that the focus is more on productivity, rather than adding new capacity, says Pronab Sen, former chief statistician of India.
However, the hefty initial gains of the rupee, which had jumped to 61.05 intra-day, were substantially erased on month-end demand for US dollars from private oil firms and some defence-related purchases, amid fall in domestic stocks.
According to India Skills Report 2019, Andhra Pradesh offers equal space to both male and female workers.
With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, says a report. The domestic IT sector employs around 16 million, of them around 9 million are employed in low-skilled services and BPO roles, according to Nasscom. Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.
By 2026, around 25 per cent of the global population may spend at least an hour a day on Metaverse. This will open the doors for many businesses, the NFTs market will spread, and Web 3.0 will attract more investment.
The payroll estimates, released by the EPFO based on its enrolment, threw up some contrasting trend between September 2017 and February 2018.
About 13 million first time car/two-wheeler buyers are entering the market every year. If employment creation is such a big issue, where are these people coming from, asks Mahesh Nandurkar.
While salary growth may range from a marginally positive to stagnant or even negative, the increment for some of the "super-specialised" profiles can go beyond 15%.
"Numerous rounds of talks have taken place with the Chinese counterparts to deescalate the situation without compromising on India's stand of 'complete disengagement and immediate restoration of status quo ante'," the defence ministry said.
