In several countries, the average hours worked per year has fallen by more than 20.
NITI Aayog has not said what the reasons were for having achieved or not having achieved what was sought to be achieved, or what lessons can be learned for the future, points out Aakar Patel.
The International Monetary Fund (IMF) on Tuesday slashed India's growth forecast for 2022-23 (FY23) by 80 basis points to 7.4 per cent, citing less favourable external conditions and rapid policy tightening by the central bank. In its update to the April World Economic Outlook, the IMF said that though a global recession in 2022 was ruled out with a growth estimate of 3.2 per cent, the balance of risks was squarely to the downside, driven by a wide range of factors that could adversely affect the global economic performance. "The risk of recession is particularly prominent in 2023, when in several economies growth is expected to bottom out, household savings accumulated during the pandemic will have declined, and even small shocks could cause economies to stall.
'Three external members of the first MPC are respected researchers with excellent academic background, but there is no harm in considering academicians with diverse backgrounds such as finance and labour along with economists for this body,' recommends Tamal Bandyopadhyay.
In its latest report titled Global Employment Trends For Women, the UN's labour body said unemployment of women -- a vulnerable group -- might rise between 6.5 per cent to 7.4 per cent during the year. It recommended that 'when governments design and implement fiscal stimulus packages, it is important to recognise the labour market disadvantage that women face through the equity challenge, and to consider explicit employment growth targets for women.'
All the global transitions are working in India's favour, giving it the potential to become a force in today's uncertain world, but one of the country's biggest challenges is inclusive growth, Tata Sons chairman N Chandrasekaran said on Monday. In his address at the JRD Tata Oration, the head of the Tata group also asserted that Artificial Intelligence (AI) is here to stay and it will be beneficial if India prepares for it. Post the cold war era of relative stability and prosperity, the world appears to have given way to unpredictable conflicts and economic uncertainty, he said, adding that the pandemic resulted in supply chain shocks of gigantic proportion.
'The fact still remains that we will have to deliver, so the pressure is now on us to make sure we get our resources, our supplies lined up at acceptable costs.'
'The situation in Nuh could have easily returned to normalcy if the trader class wished so, but they didn't.'
NITI Aayog wants the prime minister's flagship initiative should focus on labour-intensive sectors and policies that impede their growth to get special attention.
The recovery in the job market is still miles away as more redundancies and fall in hiring intentions in the public sector are expected even though the economy has come out of recession, says a survey.
"In the week ending August 15, the advance figure for seasonally adjusted initial claims was 576,000, an increase of 15,000 from the previous week's revised figure of 561,000," the US Labour Department said in a statement on Thursday.
"Indian markets (are) well placed to absorb the US Fed rate hike. Gradual approach in future increases augurs well for emerging markets," Economic Affairs Secretary Shaktikanta Das has tweeted.
With GDP growth improving to a nine-quarter high of 5.7 per cent and the stock market brimming with optimism, now is the time for Modi to keep his promises.
However, the government has enacted an important change to the fixed-term employment framework that may help companies in handing out contractual jobs to its existing permanent workforce.
The government's target of hitting $52 billion to $58 billion in mobile phone exports in FY26 has been faltering; an Indian corporate group with financial muscle will help.
The 30-share Sensex closed at 27,112 up by 481 points whereas the Nifty ended higher by 139 points at 8,115.
India ranks 4th in the 2013 global manufacturing competitiveness index even as the country's growth rate has been pulled down in recent quarters.
The uptick in hiring in October came after three consecutive months of decline, according to job portal Naukri.com.
The 1,000-point journey to the 14,000 peak on the stock markets turned out to be a fizzle, as the labour of 26 days was lost in just three trading sessions and the Sensex has gone spiralling below the 13,000 level.
'Nobody wants to run an exploitation factory.'
'The BJP's real weapons are Hindutva, organisation and finance.'
Indian employers have the most optimistic hiring plans for the October-December quarter, driven by government's increased focus on ease of doing business.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
In the last three years, 20 gardens have changed hands, and 90 per cent of the buyers are from non-tea background.
The interim free trade agreement between India and Australia will come into force on Thursday, providing duty-free access to thousands of domestic goods such as textiles, and leather in the Australian market. The agreement will help almost double the bilateral commerce to $45-50 billion in around five years, according to exporters and industry players. The Economic Cooperation and Trade Agreement (ECTA), which was signed on April 2, would provide duty-free access to Indian exporters of over 6,000 broad sectors, including textiles, leather, furniture, jewellery and machinery in the Australian market.
The Federal Reserve's move comes a week after it trimmed 0.75 per cent of the fund rate owing to concerns that the US economy was headed towards a recession.
Improved monsoon, solid fiscal performance, and capex push by the public and private sectors augurs well for India's macroeconomic stability and growth, the finance ministry's monthly economic review for June 2023 said. But the report said that while India's domestic fundamentals remain strong, negative cross-border spillovers and adverse global developments could act as a deterrent in achieving the high growth path this financial year. "An improved matching of aggregate supply and aggregate demand in the Indian economy underpins the progress made in the control of domestic inflation and the consequent strengthening of macroeconomic stability," the review said.
'We need to take steps towards ease of doing business.'
GCC consists of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates.
Of these 8.5 million additional people employed in September, 6.5 million were in rural India, reveals Mahesh Vyas.
Indian women have education, inspiration and perspiration -- but not enough employment, points out Mahesh Vyas.
The US Federal Reserve has said economic activity is improving while deciding to continue with the near-zero interest rate regime to bolster the economy.
Half of the world's youth population are subject to anxiety or depression-causing circumstances, discovers ILO survey.
According to a UN Report, 205 million people were unemployed in 2010.
If the central banks act harshly now, the markets will crash and then rally. If they are hesitant, the pain will be prolonged, predicts Debashis Basu.
'Last year, India exported more software than Saudi Arabia exported oil.' 'Last year India got $83 billion of private equity.' '50 percent of India's FDI has come in the last five years.'
The monthly Naukri Job Speak Index rose by two per cent last month as compared to April, indicating that hiring sentiment remains healthy.
The man was caught from near the Aluva bridge on Thursday evening where he was drinking alcohol. The suspect attempted to escape from the police by jumping into the nearby river and swimming away, but was caught with the help of local residents and pulled out of the water.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
