Government announcements for the building of new roads, railways, and other capital expenditure (capex) projects may have hit an all-time low, according to numbers for the December quarter.
While supporting greater flexibility in labour markets, Prime Minister Manmohan Singh said there could be no 'uncritical endorsement' of the hire- and-fire approach.
'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.'
Setting the bar high for 10 per cent growth, Prime Minister Manmohan Singh on Tuesday promised to explore FDI in retail, sort out problems in power sector and work for a flexible labour market.
The recovery seen in the increased economic activity till September or October is running out of steam. Labour statistics indicate a substantial slowing down of the economy in November, notes Mahesh Vyas.
There is no doubt that archaic labour laws governing employment of contract labour have fanned tensions at the workplace and need to be amended.
'Considering that an Internet company's market value is largely determined by its direct access to consumers for digital services, and largely served outside a sovereign country's control, it would appear reasonable in trade terms to discuss fees for a seat at the proverbial 'table' of opportunities in the largest open consumer market,' argues Venki Nishtala.
Malur, the little-known rose capital on the Karnataka-Tamil Nadu border, which caters to a large domestic and export market, engages more than 1,000 female children in this chain of rose production.
About 2,000-3,000 children are believed to be employed in the job of cracking 'American almond', as it gets sold at anywhere between Rs 340-400 per kg in New Delhi's markets.
Over the past three decades, a global labour market started taking shape.
Saudi Arabia may soon impose a six-year cap on the residency of foreigners in the country as part of its programme to regulate the local labour market - a move likely to affect a large number of Indias working that country.
Amazon has reclaimed the top spot as the world's most valuable brand despite its brand value falling 15 per cent this year from $350.3 billion to $299.3 billion, said a new report. According to brand valuation consultancy Brand Finance's report, "Global 500 2023", while Amazon is back at No 1, its brand value has fallen by over $50 billion this year, with its rating slipping from AAA+ to AAA. This is as consumers evaluate it more harshly in the post-pandemic world. Brand Finance's research has found that perception of customer service at Amazon has fallen - at the same time as delivery times have lengthened.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
'Revision of the base year for both CPI and GDP are long overdue.' 'The basic data that went into the 2011-2012 series were mainly from surveys done in 2011 or earlier.' 'We have since seen the emergence of new sectors like platform-based work and online marketing.' 'The employment surveys and the consumption surveys need to reflect these adequately.'
Workers had stopped production lines to protest a delay in salary hikes after 10 months of negotiations.
The encouraging news, however, is that India features among the top four countries out of 44 nations that projected a positive hiring trend.
'This Lok Sabha election is more of a trial for GenAI content.'
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
'Investors should hold equity assets for 3 to 5 years.'
Lashing out at the opponents of labour reforms, particularly the Congress, the government on Tuesday sought political consensus on the vital issue to enable Indian industry become competitive worldwide and augment its position in the global
Leading players from top countries are clearly already struggling to cope with the demands of international cricket's packed calendar.
He said the onion farmers need to get a good price for the crop and the affected farmers get compensation.
'India's manufacturing will take 10-15 years to catch up with China.'
Buoyancy in the real estate sector along with improved construction activities created jobs and facilitated the return of migrant workers to cities, the Economic Survey for 2022-23 tabled in Parliament on Tuesday said. This assumes significance in view of loss of jobs due to lockdown restrictions imposed in various parts of the country from time to time amid different waves of pandemic since March 2020. The survey points towards sustained recovery in the economic activities during 2022-23 fiscal year.
India is among the worst-performing BRICS nations along with Brazil (ranked even lower than India at 71st this year).
Nearly 490 million people of working age are outside the bounds of India's unemployment assessments. A decrease in the unemployment rate could signal economic growth, but could just as well mean that people have given up looking for work. A revealing excerpt from Tata Sons Chairman N Chandrasekaran and Tata Chief Economist Roopa Purushothaman's Bridgital Nation: Solving Technology's People Problem.
'Investment creates capacity and reduces inflation. Income, employment, and savings rise.'
India can become a $6.7 trillion economy by 2031, from $3.4 trillion currently, if the country clocks an average growth of 6.7 per cent for 7 years, an S&P Global report said on Thursday. India had clocked a 7.2 per cent GDP growth in 2022-23 fiscal. But a global slowdown and lagged effect of a policy rate hike by RBI could slow down growth to 6 per cent in the current fiscal, S&P Global said in a report titled 'Look Forward: India's Money'.
Manufacturing sector activities in India moderated in June from a 31-month high in May, but output remained in the growth territory, as new work orders expanded sharply amid favourable demand conditions, a monthly survey said on Monday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) fell from 58.7 in May to 57.8 in June. Despite the fall, the headline figure pointed to a considerable improvement in operating conditions, the survey said, adding that the demand strength positively impacted several other measures such as sales, production, stock building and employment.
'People are doing a lot of trading.' 'Short-term euphoria can be seen.' 'Retail participation is best through MFs and PMS.'
Shane Oliver, Head-Investment Strategy at AMP Capital Investors, believes that higher US labour cost has fuelled rate hike fears again. According to him, the Fed may have finished with its rate hike cycle.
'We cannot leave our entire unorganised sector to the vagaries of market forces.'
In a drastic measure to stem any major disruption to the US economy as a result of the coronavirus outbreak, the Federal Reserve has cut its benchmark interest rate to almost zero and said it would buy USD700 billion in bonds. The covid-19 pandemic has sickened more than 156,000 people worldwide and left more than 5,800 dead. The death toll in the US stands at 68, while infections neared 3,700.
Elections are not won or lost by expounding on such macro-economic matters. For the aam admi, what matters in manifestos are promises that will improve their quality of life, notes Vinayak Chatterjee.
It's time we dispensed with the paper trail and shifted all labour law paper, workflows and permissions online.
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.
The week ended October 17 was remarkable as it saw a fall in the unemployment rate. We have not seen such a level in any monthly estimate of the employment rate since March 2020, Mahesh Vyas points out.
Observing that economy was "going well" in India, which has large internal markets, the World Bank said on Thursday that growth had to be labour oriented, even as it expressed concern over the mounting fiscal deficit.
In India, total employment grew by only 0.1 per cent yearly over the five years till 2009-10, says the report, "from 457.9 million in 2004-05 to 458.4 mn in 2009-10, while labour productivity grew 34 per cent over this period".
Union Agriculture and Farmer Welfare Minister Munda, Commerce and Industry Minister Piyush Goyal and Minister of State for Home Affairs Nityanand Rai represented the Centre at the meeting over the farmer unions' various demands, including a law guaranteeing a minimum support price (MSP) for crops. Punjab Chief Minister Bhagwant Mann also joined the meeting at the Mahatma Gandhi State Institute of Public Administration in Sector 26. The meeting started at around 8:45 pm on Thursday and lasted for around five hours.
