The total allocation to the defence sector is 12.9 per cent of the total budget of the government of India for the financial year 2024-25.
The recession is beginning to affect final placements at premier B-schools and IITs. Recruiters are maintaining last year's salary levels.
Attrition is driving the hiring effort on campuses.
The Indian Premier League governing council revealed changes ahead of the IPL mega auction, which is likely to be scheduled for November.
The average variable pay across sectors is projected at 17.4%.
While money is among the key reasons why employees move to a new company, a strong company culture can also attract employees.
A parliamentary panel has pitched for 100 percent hike in salary and daily allowances of MPs and 75 percent raise in pension of ex-MPs apart from facilities for their "companions" in place of "spouses".
'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
Taking inflation into account, China and Vietnam at 4.9 per cent lead the way, while Japan at 0.5 per cent and India at 2 per cent are among countries offering the smallest raises.
"Citigroup intends to raise workers' base salaries by as much as 50 per cent this year to offset smaller annual bonuses," the The New York Times reported quoting people with direct knowledge of the plan. The company, which has received three bailouts from the government, also plans to award millions of new stock options to employees in an effort to retain workers and neutralise a precipitous drop in the value of their stock holdings, it added.
At a time when the Members of Parliament (MPs) bagged a 300 per cent salary hike, India Inc has taken a pay hike between 50-90 per cent.
As many as 8.5 lakh bank employees are set to benefit from the wage hike, which will be effective from November 2017.
Air India has given a two-fold increase in the salaries of its executive (officer grade) cabin crew to Rs 2.25-lakh, with retrospective effect from June 1, 1997. The move is likely to put an additional burden of Rs 170 crore (Rs 1.7 billion) annually at a time when the airlines are making losses due to economic slowdown.
The judges' committee recommended a pay hike of Rs 2.8 lakh for SC judges, Rs 2.5 lakh for HC judges.
Government employees enjoy a pay revision every five years, unlike once in every 10 years for central government employees, and draw relatively higher salary.
Shortage of skilled manpower in the information technology and business process outsourcing-ITeS sector is fuelling a hike in employee salaries, which have been posting a 10-40% growth during the last couple of years, according to Gartner.
Despite partial restoration of salaries, pilots across airlines remain dissatisfied, throwing challenges for managers.
Upon implementation of the 7th Pay Commission the expected yearly burden on the central exchequer will be more than Rs 100,000 crore. Central government employees will get on an average a 24 per cent pay hike. Still, the unions aren't happy.
HR experts believe however that times are changing and more and more companies are planning a revamp of their appraisal systems
Vinay Umarji
Factors that can push growth include softer interest rates, increased banking sector liquidity, higher rural consumption, salary hikes for state government employees and greater traction in public capex
With the last quarter of 2023-24 (FY24) expected to have been soft owing to lower discretionary spend and macro uncertainty, many are hoping FY25 will be a year of recovery for the information-technology (IT) industry. The fourth quarter, January-March, is considered soft, and will continue to see the headwinds the sector has been facing. And the sector has entered the new financial year on a weak footing. Analysts are expecting Tier-I firms to report sequential growth of -1 per cent to 1.5 per cent and midcap players' growth may range between 0.7 per cent and 4 per cent.
HCL Technologies on Wednesday said it will give salary hikes of up to 8 per cent to its offshoreemployees and its plan of hiring 10,000 people in the US and Europe is also on track despite the global economicuncertainties.
As attrition rates reach unprecedented levels in the retail sector, companies are fighting back with a mix of measures including salary hikes, incentive-based targets, connecting emotionally with staff and even selling them the "American Dream".
As per the report, the hottest industries in India include sectors like manufacturing, construction, pharma and healthcare, BFSI, education, information technology (IT) and IT-enabled service, and real estate and construction.
As its promoters finalise a stake sale deal with Gulf carrier Etihad, labour unrest seems to be brewing in Jet Airways with its engineers wearing black bands to protest an alleged move to freeze salary hikes and the pilots deciding to meet on the same issue shortly.
The country's largest car maker Maruti Suzuki India on Tuesday reached a wage settlement agreement with its workers at its Gurgaon plant, under which the employees will get an average salary hike of Rs 18,000 per month spread over three years.
On her 90th birthday on September 8, Ashaji hopes to perform at a live three-hour concert in Dubai.
India's top technology companies will witness a tepid revenue expansion in the third quarter (October - December) of the current financial year (Q3FY24) - along expected lines - on the back of furloughs and no blockbuster deals, even as the momentum gained from Generative AI (GenAI) is likely to take centre stage. IT services and consulting firm Accenture's first quarter numbers in FY24 showed a significant pick up in GenAI spending. It signed new bookings to the tune of $450 million in this space, a surge from the $300 million signed in the whole of FY23.
An aggressive rate hike by the US Fed and the possibility of a recession can trigger a slide in these stocks, which will be a good opportunity to buy from a long-term perspective.
The Telangana government is examining the issue of increasing the salaries of the members of legislative assembly and the council in view of their "grossly inadequate" pay structure.
Mukesh Ambani voluntarily capped his compensation at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries.
West Bengal and Maharashtra, despite having fewer public sector employees, are likely to face a higher burden of salaries and pensions.
Be prepared, have a plan before you ask for a pay hike.
The defence budget was increased to Rs 5.94 lakh crore for 2023-24, up from last year's allocation of Rs 5.25 lakh crore.
Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
The salary and allowances of MLAs has been raised from Rs 55,000 to Rs 1.05 lakh a month.
When the Centre collects money through cess, it can retain the entire fund for the particular scheme.
'With tuition fees for international students rising, education loans have become critical for bridging the gap between savings, scholarship, and full cost.'
