India remains the largest growing economy in the world, a senior official from the International Monetary Fund said, observing that the country's macroeconomic fundamentals are good. "India is said to remain the largest growing economy in the world. We project growth at seven per cent in FY24-25, supported by recovery in rural consumption, as there have been favourable harvests.
Divya Nair/Rediff.com speaks to students and experts to find out whether it is better to study management in India or try for an international MBA.
'India has the maths talent, academic institutions, and research institutions to do the next big thing.'
With such announcements grabbing the voters' attention, critical issues like pollution, especially the smog that chokes Delhi every winter, remain largely unaddressed. Many residents have raised concerns over the lack of concrete action plans to combat air pollution, which continues to pose a severe health risk to Delhiites.
Unemployment rate in the country has zoomed to a high of 8.3 per cent in December, the highest in 2022, according to data from Centre for Monitoring Indian Economy (CMIE). The unemployment rate during November was at 8 per cent, while in September it was the lowest at 6.43 per cent and was at the second highest level during the year at 8.28 per cent in August, the CMIE data stated. While the urban unemployment rate was at 10 per cent during the last month of 2022, rural joblessness stood at 7.5 per cent during December.
'Slogans like 'Ek hai toh safe hai' and 'Batenge toh katenge' resonated with voters.'
'If it doesn't, it will continue with measures to infuse liquidity, signalling a new cycle,' predicts Tamal Bandyopadhyay.
Global brokerage firm CLSA has reversed its early tactical shift from Indian equities to Chinese stocks, and has decided to raise India allocation while cutting exposure to China. In its report titled 'Pouncing Tiger, Prevaricating Dragon', CLSA cited challenges facing Chinese markets in the aftermath of Donald Trump's victory in the US elections as the reason for the move. "Misfortune can happen in threes. So it has played out for Chinese equities over the past week.
The need for a manufacturing policy, reining in food inflation and raising investment in the country were among key suggestions given by economists who met Finance Minister Nirmala Sitharaman and senior ministry officials in the first round of pre-Budget consultations on Friday.
Ahead of the Delhi assembly polls scheduled to be held early next year, state Congress chief Devender Yadav said on Friday that the party will contest on all 70 seats and there would be no alliance.
Unemployment rate for all ages in urban areas rose to 9.3 per cent in January-March 2021 from 9.1 per cent in the same month of the previous year, showed a periodic labour force survey by the National Statistical Office (NSO). Joblessness or unemployment rate (UR) is defined as the percentage of unemployed persons in the labour force. The UR for in CWS (current weekly status) in urban areas for persons of age 15 years and above was 10.3 per cent in October-December 2020, the ninth Periodic Labour Force Survey (PLFS) showed.
He also announced unemployment allowance for the youth, as the party's fourth poll guarantee, on coming to power.
Former Indian Prime Minister Manmohan Singh accused his successor, Narendra Modi, of lowering the dignity of public discourse and the gravity of the office of the prime minister by giving "hateful speeches" during the 2024 Lok Sabha election campaign. In an appeal to voters of Punjab ahead of the seventh phase of Lok Sabha polls, Singh asserted that only the Congress can ensure a growth-oriented progressive future where democracy and the Constitution will be safeguarded.
Trading activity of foreign investors and global trends will be the major driving factors for the equity markets in a holiday-shortened week ahead, according to analysts. Leading stock exchanges BSE and NSE have declared a trading holiday on November 20 for assembly elections in Maharashtra. Elections to the 288-member state legislative assembly will be held on November 20, and votes will be counted on November 23.
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
'The high unemployment rate being witnessed today is not only the highest in three years but is far more debilitating for the economy than the similar unemployment rates witnessed in 2016,' says Mahesh Vyas.
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
The Congress maintained that the state government had not ordered any such inquiry and it could be an internal matter of the CID. A top CID official has also said that no formal inquiry was ordered into the incident.
The Indian market remains an attractive place to do business for the nation's entrepreneurs, with 75 per cent of them operating domestically.
As the Bharatiya Janata Party looks set to retain Haryana, the Congress' poll campaign, which was built around various issues including unemployment, farmers' plight and Agnipath scheme, appeared to have failed to click with a majority of the voters.
Households with only one employed person can be considered to be somewhat vulnerable. Their proportion is rising. Also rising is the proportion of highly vulnerable households with no person employed, observes Mahesh Vyas.
'India has a skill shortage of 56%.' 'This is a very interesting paradox -- the unemployment rate is 6% to 7%, and at the same time 20% of those qualified are unemployed.'
It would be larger than even in the pandemic year of 2020-2021, notes Mahesh Vyas.
The government and opposition parties on Monday reached an agreement to break the impasse in Parliament with dates announced for discussions on the Constitution in the Lok Sabha and the Rajya Sabha.
Shubham Upadhyay, a resident of Uttam Nagar in the national capital, was arrested for posting two bomb threat messages to draw attention after seeing similar news reports on TV, the police said.
'They think quick fixes like internship in the private sector will help. 'In fact, internships have been going on for the last one decade.' 'In 2014-2015 itself, we had a ministry of skill development. None of the programmes have yielded results, still they are continuing with such schemes under some other name.' 'We don't see any seriousness on the part of the government to attack the problem of unemployment.'
'These are the two core skill sets that are required for any job, in any profession.'
Despite declining by three percentage points in 2022-23 (FY23) compared to FY19, Odisha's unemployment rate remains higher than the average in India.
'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.'
The opposition Maha Vikas Aghadi on Sunday released its manifesto for the Maharashtra assembly polls, promising free cervical cancer vaccines for girls aged 9 to 16 and and two optional leave days for women employees during menstruation.
'According to CMIE data, employment in manufacturing saw a reduction from 51 million in the country in 2016 to 27 million in 2021. 'That is, it has halved in just 5 years. 'At the same time, the national lockdown resulted in reverse migration to rural areas, and an increase in the number of workers in agriculture. 'It also means joblessness has increased in agriculture because there are too many workers; the number of workers went up from 200 million to 232 million.'
Uddhav Thackeray, who played the bold gambit of taking on the ally Bharatiya Janata Party in 2019 and forged an unlikely alliance with the Congress and the Nationalist Congress Party, was on Saturday left struggling to make sense of his party's rout in the Maharashtra assembly elections.
The problem of unemployment is spread across the economy.
A stampede-like situation was witnessed after about 800 persons turned up for walk-in interviews held by a firm for 40 vacancies in Ankleshwar in Gujarat's Bharuch district, an official has said.
The labour ministry on Monday rebutted a recent report by Citigroup which forecast that India will struggle to create sufficient employment opportunities even with a 7 per cent growth rate. The ministry in a statement said the report "fails to account for the comprehensive and positive employment data available from official sources such as Periodic Labour Force Survey (PLFS) and the Reserve Bank of India's KLEMS data."
'Till a few years ago, girls wouldn't take an autorickshaw alone. Now, things have improved.'
While the deputy CM led a massive nomination rally and waved to the crowds from an open vehicle, the process for Yugendra Pawar was low-key, with just NCP-SP supremo Sharad Pawar and Baramati MP Supriya Sule for company apart from a few supporters.
'All the big things happening today in economic development have their beginning in Dr Manmohan Singh's ideas.'
A Congress worker died during a protest near the Uttar Pradesh Assembly in Lucknow, India, on Wednesday. The Congress party alleged the worker, Prabhat Pandey, died due to "police brutality," while police said he was brought to the hospital unconscious and had no visible injury marks. An investigation is underway, and a post-mortem is to be conducted by a panel of doctors.
Modi accused the JMM, Congress and RJD of using Bangladeshi infiltrators for "vote bank politics," facilitating their settlement in Jharkhand, which is a threat to the state's social structure.
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