Is India witnessing jobless growth or is there actually no issue with employment? The real story is between the first two suggesting that though there is sufficient employment, the challenge is to create well-paying quality jobs, says Amitabh Kant.
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
Cement major Lafarge India Private Limited has launched 'Project Employability', a programme designed to train rural unemployed youth and make them self reliant.
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
'Elections are fought to win.' 'In our party, the leadership takes the final decision, and our leaders are very clear about it.'
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
'The private sector believes that some enablers in labour-intensive sectors like apparel, toys, tourism, and media retail, can unlock a lot of jobs.'
However, 63 per cent Indians were "satisfied" with their standard of living
Finance Minister Nirmala Sitharaman's Budget proposals lay out a comprehensive road map for transforming India into a developed nation, focusing on key priorities that aim to generate ample opportunities for all citizens in "Viksit Bharat". It sets the stage for sustained economic growth, social development, and technological advancement.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
The TMC general secretary, considered number two in the party, shared the letter sent to him by the central agency on X, formerly Twitter.
The Bharatiya Janata Party on Thursday released its manifesto for the October 5 Haryana assembly polls, promising a monthly assistance of Rs 2,100 for women, two lakh government jobs for the youth and guaranteed government job for Agniveers hailing from the state.
'The government should come back as a job creator as it did in the 1960s and the 1970s.'
Unemployment was worse only in the pre-demonetisation period, according to the data, at 9.6 per cent in August 2016.
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
The biggest headwind to the consumption story in FY23 is a sharp decline in government subsidies on food, fertiliser and fuel, and overall decline in revenue expenditure net of interest payments. This, analysts say, will adversely impact purchasing power of households at the lower end of the income pyramid, translating into lower spending on consumer goods and services.
Wedding planner WedMeGood estimates that the average wedding budget has surged to Rs 36.5 lakh this year, with destination weddings averaging Rs 51 lakh.
With the fiscal deficit target staring at the government, the FY25 Budget has limited expenditure options, points out A K Bhattacharya.
Each bottle of pickle that leaves FarmDidi, headed to a consumer, has a little kahani behind it -- it's linked to the tale of a life, the life of a simple, striving village woman who created it, and that's what gives Manjari Sharma satisfaction and happiness.
The unemployment rate for women was last this low around Diwali in 2022. The unemployment rate has dropped for women from 14.9 per cent in December 2023 to 11 per cent in January 2024, according to data from the Centre for Monitoring Indian Economy (CMIE). It was higher in January 2023 at 13.5 per cent.
The Reserve Bank of India's (RBI's) State of the Economy report for October acknowledged a slowdown in some high-frequency indicators but expressed confidence in a recovery, aided by consumption demand during the festival season. "In India, aggregate demand is poised to shrug off the temporary slowdown in momentum in the second quarter of 2024-25 as festival demand picks up pace and consumer confidence improves," said the report released on Monday.
Economists on Tuesday are not convinced about the latest monthly unemployment data released by the Centre for Monitoring India Economy (CMIE), particularly about the statistics of the rural areas. They asserted that it is difficult to get the real picture of unemployment from the methodology used by the CMIE to get the data. The overall unemployment rate in India has increased to 7.83 per cent in April 2022 as compared to 7.60 per cent in the previous month, CMIE said in its report.
Political parties and individuals cannot be prevented from making poll promises aimed at fulfilling the constitutional mandate and the term 'freebie' should not be confused with genuine welfare measures, the Supreme Court said on Wednesday.
Naveen Patnaik is known as an "absentee landlord" who needs bureaucrats like Pandian to run his government.
Banerjee, who is staging a two-day sit-in to protest alleged discrimination by the Centre against the state, had on Wednesday in a change of stance urged all political parties in the country to unitedly fight the Bharatiya Janata Party in next year's Lok Sabha election.
There are a number of problems that plague the implementation of MGNREGA, including corruption, administrative paralysis and other hardy perennials. Massive amounts of funds on this scheme remained unspent in 2010-11 and 2011-12.
'We are confident that over the next few years the government will strike a fine balance between populist measures and growth, and manage coalition partners well.'
Almost 63 per cent of the increased allocation of around Rs 1.01 trillion has been spent in the first five months of 2020-21.
However, in 950 booths, voting will end at 4 pm, though people standing in the queue at that time will be able to exercise their franchise.
The Odisha government told the assembly over 40,000 workers migrated from the state last year, with the highest number -- 26,151 -- from Balangir.
The Budget proposals are expected to boost the fortunes of consumer goods and fast-moving consumer goods companies, which have been struggling with poor consumer demand for more than a year. The Budget announcements, such as the increase in standard deduction by Rs 25,000 for income-tax payers and slab revisions, will put more money in their hands, boosting consumer demand. Private consumption is also likely to benefit from a new scheme to offer internships to 10 million youths in the country's top 500 companies.
The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.
Mortgage finance remains a structural growth opportunity in India with a policy focus on affordable housing, housing shortages, low mortgage penetration, and rising incomes as drivers. Affordable Housing Finance Companies (AHFCs) serve the mass market, low-income segments, which is the least-serviced category, and to operate in this segment, the mortgage provider needs good assessment skills. AHFCs and HFCs have also been increasing exposure in other mortgage segments (loan against property, developer loans among others).
In an advisory to the states, ministry of rural development has also asked them to take effective measures to ensure that rural households receive their 'due entitlement' under the Act in the districts facing drought.
Teekli and Bagar, dusty hamlets in Gurgaon and Jhunjhunu, where most women are found in purdah and are not permitted to venture outside their homes are gradually witnessing a silent revolution through BPO that allow women to find jobs within the boundaries of the village and in turn become financially independent.
President A P J Abdul Kalam on Monday suggested widening the ambit of Rural Employment Guarantee Scheme (REGS), which primarily caters to manual labour, to include knowledge-based employment.
'BJP and RSS may have differences over minor issues but their hearts long for one common aim -- that of A Hindu Rashtra.' 'And this time to prove this point the RSS has prepared to help BJP win this election with all its might.'
Under the plan being worked out, the labour component of the railway projects, which include the expansion of train lines or conversion of line gauge, would be funded from NREGS, as most of these projects require a large labour force and generate employment opportunities in rural areas.
'Given our turbulent neighbourhood, the prime minister is likely to emphasise on democratic dividend as the reason behind India's continuous prosperity.'
Companies will be offered incentives for employing more women.
