When the lockdown was lifted last year, Rasikbhai Kotadiya, who runs a powerloom unit in the Kim-Pipodara industrial area on the outskirts of Surat, was left with only four workers out of the 48 that he used to employ to run his 128 looms. Though the economy had been unlocked, his textile unit, and that of thousands of others, struggled to resume operations. By the last week of May, nearly 700,000 of Surat's 1.2-1.5 million migrant workers, left high and dry with no pay during the lockdown, had returned home. In Laskana, another textile weaving hub in Surat, the powerlooms were all but silent, with only 2,000 of the total 55,000 looms churning out grey cloth at a snail's pace.
Increments in 2017 would be less than in 2016, says survey.
'Enterprises have become more demanding in terms of their productivity expectation from their employees.'
The current salary paid by the Delhi government amounts to 17 per cent of the total expenditure.
The April-June quarter GDP slipped to 7 per cent from 7.5 per cent.
Make sure buying a house won't lead to compromises on other crucial financial goals.
A quick look at the Q1FY23 performance of top-tier IT services players shows that they are still far away from getting a grip on managing attrition. Talent retention has eroded not only their margins but also any gains they may have made from rupee depreciation. Despite robust growth numbers and strong deal pipelines, margins for all the players -- TCS, Infosys, HCL Technologies and Wipro -- have continued to shrink at a pace that has had the street surprised.
Over 210,000 executives in estimated 240 central public sector undertakings are in for a bonanza with a pay revision committee recommending a massive hike in their annual cost-to-company. The hike ranges between 379 per cent at the highest level and 57 per cent at the lowest across companies and levels.
The work environment has definitely changed at Infosys after the return of NR Narayana Murthy, reports Vikash Nanjappa
An impulsive decision to resign could eventually turn out to be a big career mistake, warns Srividya Kannan.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
While Wipro leads the pack on absolute numbers, analysts for Infosys for reporting consistent growth, revising FY22 guidance and beating TCS on revenue growth.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
While declining to disclose the percentage of wage hikes given to offshore and onsite staff, the spokesperson said that the hike was effective from October 1, 2012.
Top carmakers, including Maruti Suzuki India, Hyundai and Honda, are expecting a spike in their sales following the implementation of 7th Pay Commission recommendations.
Ravi Shastri will pocket around Rs 8 crore per annum, which is atleast a crore more than previous coach Anil Kumble's salary.
Simple takeaways from the Union Budget 2015-16 and how it impacts your life
Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE's benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements.
Given the importance of equipment modernisation, the overall defence budget should rise at least at the same pace as salaries and pensions, so that equipment modernisation is not hit.
The revenue also rose 14.2 per cent to Rs 29,305 crore (Rs 293.05 billion).
From Accenture to IBM, IT hiring is set to gain pace where most of these openings are for lateral hiring for people with 4-6 years of experience.
'FDs should hold your emergency funds, equivalent to around 6-12 times your monthly expenses.'
The Union cabinet has given its nod for the revision of salary and allowances of lieutenant governors of Union Territories and it will be on a par with that of the secretary to the government of India, an official statement said.
IT company Wipro has held back variable pay of employees mainly due to pressure on margins, inefficiency in its talent supply chain and investment in technology, according to sources. According to the sources, the company has informed employees in an email about the cut in variable pay. Two sources aware of the development told PTI that managers to the C-suite Level of the company will not get any portion of variable pay, while employee grades between freshers to team leaders will get 70 per cent of the total variable pay.
'They feel if they join a union, it will have a negative impact on their appraisals.'
Experts believe it is extremely important for Sikka to connect with employees to gain acceptance at Infosys, which has had home-grown leaders so far.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
The Congress continued to stall the Parliament over Prime Minister Narendra Modi's 'Pakistan remarks' against former premier Manmohan Singh.
India Inc on said the Seventh Pay Commission set up today for central government employees is likely to lead to additional burden on the exchequer and increase inflation by pushing demand.
The steep one percentage points increase has taken the interest on PF deposits of 4.71 crore organised sector workers to a five-year high.
With a new chief executive officer (CEO) at the helm, the country's largest two-wheeler maker Hero MotoCorp is now looking to cut flab and move towards a leaner organisation. It has launched a voluntary retirement scheme (VRS) for its staff as it aims to make the organisation 'agile and future-ready'. Recently, the company's erstwhile chief financial officer (CFO) Niranjan Gupta was elevated as CEO.
India Inc is expected to offer average salary increments of 11.3 per cent this fiscal and those working in sectors like pharmaceuticals, health care and life sciences are expected to get a raise of 13.1 per cent.
'As for tricky relations with China, India needs less of summitry type event management and more anticipatory analysis and management of events,' says Ambassador Jaimini Bhagwati.
When Griezmann fired Atletico to victory over Olympique de Marseille in the Europa League final in May it was widely viewed as his last stand for Diego Simeone's side before a move to Barca but they successfully convinced the Frenchman to stay.
There will very little direct impact from the US Fed's rate hike this time, as we are well prepared both to handle liquidity, outflow of FII funds and managing our currency. But that doesn't mean India will be out of the woods anytime soon, says M V Subramanian.
There are concerns in the industry around budget cuts by clients and layoffs, as enterprises grapple with reduced earnings amid lockdowns across various parts of the globe.
Declining interest rates, a near-normal monsoon leading to higher rural incomes and pay hikes for central government employees are key triggers, says Dev Chatterjee.
In 2013, the average salary increase was 10.2 per cent while in 2009, it was 6.6 per cent.
