In his address after more than 75,000 people were given appointment letters for various government jobs in the first tranche, Modi acknowledged the challenges facing the economy the world over with many countries hit by a record inflation and unemployment and said India is making every effort to come out of the situation unscathed.
Sticky labour laws and a difficult business environment have led to employers shifting their new hiring in favour of contract labour where social security is much lesser, says Mahesh Vyas.
'Every year, the marble industry is shrinking due to tiles. It has already decreased by 20-25 per cent in recent years.'
The US Federal Reserve on Wednesday (local time) raised interest rates by 75 basis points (bps) or three-quarters of a percentage point in the boldest move since 1994.
Dominic Xavier wonders what will happen to the poorest who have been ravaged by the strict lockdown imposed by the Narendra Modi govt in the wake of the Coronavirus pandemic and the unemployment rates spiralling out of control every passing month.
The criticism that the Reserve Bank of India was behind the curve in hiking interest rate to tame rising inflation is unfair, former RBI Governor D Subbarao said on Wednesday and asserted that it is difficult for any central bank to anticipate the future more accurately. Earlier this month, Monetary Policy Committee (MPC), the central bank's rate-setting panel, surprised the markets with a 40 basis points hike in repo rate in an off-cycle policy meeting. It was also the first rate hike after August 2018, amid spiralling inflation.
The proclamation that comes into effect on June 24, is expected to impact a large number of Indian IT professionals and several American and Indian companies who were issued H-1B visas by the US government for the fiscal year 2021 beginning October 1.
The situation raises concerns about whether the promised freebies will once again push the state into a revenue deficit.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Former chief statistician Pronab Sen says slow pace of growth has led to a rise in joblessness, but it is not huge.
Some members held placards of news reports about unemployment figures.
As voting begins in Bihar in the first phase of assembly elections on Wednesday, the fate of political leaders depends on how the electorate perceives they can solve ground-level issues from reverse migration to tackling the COVID-19 pandemic.
From the 'khiladi' brand of movies rocking his boat to a love for starring in biopics and scripts inspired by true stories to headlining endless remakes of South Indian hits, there's a pattern to the man and his methods.
'The 2024 election results will lead to much intense targeting of Modi, more intense debates, many more breakdowns in Parliament and many more movements on the streets.' 'The results have hit Modi's standing, and the politics of the Opposition parties will be sharply focused to ensure that Modi doesn't get back his charisma of being 'invincible' with help of State power.' Sheela Bhatt looks at the political situation through the prism of 2024 Lok Sabha election results.
'This time, triumph will belong to the brother who promises a brighter future, not the one who merely remembers his sisters during elections and then vanishes.'
The study commissioned by the Government of India and based on a sample of 2,000 households in Tamil Nadu and Uttar Pradesh says that employment rate among people with disability (PWD) fell from 42.7 per cent in 1991 down to 37.6 per cent in 2002.
What makes Ullozhukku worth recommending is its ability to surrender to the surprises and yet grow with its characters, observes Divya Nair.
Of these 8.5 million additional people employed in September, 6.5 million were in rural India, reveals Mahesh Vyas.
According to the International Labour Organisation, the world is facing a serious jobs crisis with 200 million people without work, an increase of 27 million since the start of the financial crisis.
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
Unemployment levels will remain high in most of the developed world till the end of next year and low-skilled people are expected to bear the brunt, OECD said.
It may be a little early to cheer the recovery in the fast-moving consumer goods (FMCG) space as a deceleration in discretionary demand, after the festival season, may offset fragile rural recovery, analysts have cautioned. "The overall demand environment for staples remains muted, while discretionary demand trends have seen some deceleration after the festival season. "We believe margins in staples have bottomed out, but we expect only a gradual uptick with the ongoing softening in raw material prices.
Indian women have education, inspiration and perspiration -- but not enough employment, points out Mahesh Vyas.
Equity indices chalked up losses for the second straight session on Monday, in tandem with a bearish trend overseas as ratcheting up of hostilities in Ukraine and prospects of further rate hikes by the US Fed soured global risk sentiment. The rupee slipping to another all-time low against the US dollar amid foreign fund outflows added to the gloom, traders said. After tumbling over 800 points in intra-day trade, the 30-share BSE Sensex clawed back some lost ground to end 200.18 points or 0.34 per cent lower at 57,991.11.
Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. "But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director, told reporters in Mumbai.
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
Six states out of 22 major states and Union Territories (UTs) generated fewer formal jobs for the youth in the September quarter than they did in the corresponding quarter a year ago, a Business Standard analysis of the data released by the Employees Provident Fund Organisation (EPFO) shows. States like Punjab (-12.4 per cent), Himachal Pradesh (-10.3 per cent), Jharkhand (- 7.2 per cent), Assam (-3.7 per cent), Gujarat (-3.4 per cent) and Rajasthan (-.1.1 per cent) saw further decline in the number of net new subscribers in the second quarter (Q2) of FY23 compared to the last year. The analysis did not include northeastern states, except for Assam. This is crucial as the subscribers in the 18-28 age group are seen as first-timers in the labour market, thus reflecting the robustness of the job market.
So how do you rate the NDA government's election-year budget? Does it meet your expectations? Or do you feel let down?
The International Labour Organisation (ILO) has revised upwards its estimates of worldwide unemployment, and called for a "global jobs pact" to address the current crisis.
The US saw a staggering 467,000 job losses in June, pushing the unemployment rate to a 26-year high of 9.5 per cent, indicating that economic revival may take longer time than anticipated.
West Bengal Chief Minister Mamata Banerjee on Thursday termed the cancellation of over 25,000 school jobs as 'gross injustice' and alleged that it was a ploy by the Bharatiya Janata Party to stop these job losers from being deployed in poll duty.
Neither the CAA nor the proposed NRC are important enough to stake the well-being of so many or stake economic growth. Getting growth back on track is more important, notes Mahesh Vyas.
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 large scale and widespread shrinking of the labour force in November, the peaking of unemployment in October and the fall in lead indicators in October and November point towards a worsening of the slowdown of the Indian economy in the third quarter of 2019-20,' says Mahesh Vyas.
The decline bolstered bets that the Federal Reserve will hike interest rates in mid-2015
While the jury's still out on whether US President Barack Obama's proposed stimulus is the right way to help fix the economy, rising unemployment is something that's likely to trouble the President for many years to come.
Calibrated reopening of the economy by states as the number of fresh COVID-19 cases subside increased mobility and aided in a fast-paced increase in an index of business resumption last week, a Japanese brokerage said on Monday. The Nomura India Business Resumption Index rebounded to 76 for the week ended June 13, up from the preceding week's 67.9, a note from the brokerage said. The pre-pandemic value of the index is set at 100.
Saudi Arabia has decided to curb its reliance on foreign labourers and implement a slew of measures to tackle the problem of unemployment in the Kingdom.
Vineeth Sreenivasan deserves applause for striving to blend the past with the present and revoking your memories, states Divya Nair.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances