Infosys Ltd on Thursday reported a 4.7 per cent rise in the September quarter net profit and raised revenue guidance after broadbased growth. Net profit of Rs 6,506 crore in July-September was up 4.7 per cent when compared to Rs 6,212 crore earnings in the same period last year. It was 2.2 per cent higher quarter-on-year, according to a company statement.
By June 2025, financial freedom will be just an ATM away. Pleasantly surprised? But there's more, says Ramalingam Kalirajan
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
Sukanya Verma lists 10 shows that have her (Korean finger) heart.
The Professional Footballers' Association (PFA) are in talks with the Premier League over how best to deal with the current suspension of competition, but the moves by some clubs to use the government's furlough scheme has prompted sharp criticism.
In FY24, the net income generated from Waqf properties fell to about Rs 1.26 crore from Rs 150 crore in FY20.
The Indian position on the Russia-Ukraine war and the unconditional treaty between China and Russia appear to have caused some ripples in India-US relations and led to a reappraisal of India's usefulness to the US in the eventuality of a conflict with China, notes Ambassador T P Sreenivasan.
Looking under the hood, I see India on the terrible, but commonplace, road to prosperity failure, warns Rathin Roy.
As of March 2023, the share of accounts belonging to women stood at 36.4 per cent (917.7 million) of the total 2.52 billion individual accounts.
The quality of employment has deteriorated in 12 of the 21 major states and Union Territories, as the proportion of workers in regular or salaried jobs declined between July 2022 and June 2023 compared to the previous year, according to a Business Standard analysis of the latest Periodic Labour Force Survey (PLFS) released by the National Statistical Office. Assam experienced the most significant decline in the share of workers in salaried work, dropping by 8.7 percentage points to 10.8 per cent in the July 2002-June 2023 period from 19.5 per cent in the July 2021-June 2022 period. This was followed by Delhi (6.2 percentage points), Uttarakhand (5.2 percentage points), and Chhattisgarh (1.6 percentage points).
With UPA chairperson Sonia Gandhi pushing for increased wages for labourers, the government on Thursday came out with a new structure for payment of wages under Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) that will be linked to inflation.
As more companies ask their employees to return to office after the pandemic, the share of women employed in regular salaried jobs in urban India decreased from 54 per cent in the first quarter to 52.8 per cent in the second quarter of the current financial year, according to the quarterly Periodic Labour Force Survey (PLFS) data. The slump in the share is the lowest in wage employment in any quarter in the last six years when the National Statistical Office started releasing the quarterly PLFS surveys in Q3 of FY19. The share of women in wage work was highest in Q1 of FY21 at 61.2 per cent.
India's largest IT services company Tata Consultancy Services (TCS) on Thursday posted an 8.7 per cent year-on-year rise in its consolidated net profit at Rs 12,040 crore in the first quarter ended June 2024. The net profit for the year-ago period stood at Rs 11,074 crore.
"When wages rise in China, India, Brazil and elsewhere it helps relieve downward pressure on American wages," Labour Secretary Hilda Solis said.
Nationalist Congress Party leader and Maharashtra Deputy Chief Minister Ajit Pawar on Saturday didn't join his cabinet colleagues Devendra Fadnavis and Chief Minister Eknath Shinde in visiting the Nagpur-based memorial of the Rashtriya Swayamsevak Sangh founder.
'India's top companies currently lack the organisational wherewithal to hire and train 2 million interns annually, given their current scale of operations and existing employee base.'
Air India pilot unions IPG and ICPA on Monday sought Civil Aviation Minister Hardeep Singh Puri's intervention on the wage cut issue and also requested for an "urgent" meeting with him on several other issues. "In our meetings in September, you had given us an assurance to look into our grievances positively. "While other airlines are rolling back the austerity pay cuts for their pilots, the wage cut for Air India pilots further increased from October.
There was a memorable meeting with a 'tall, elegant, beautiful girl', who had recently finished her 12th in the strongly tribal Jhabua district, Madhya Pradesh. 'I was shocked. In this whole sea of villages, I knew for sure there was no other 12th pass girl. I said I want to meet your father.' 'She brought her father, a daily-wage labourer. I asked him: "How come you decided to educate your girl till the 12th standard? You break stones for a living and you don't have a lot of money".' 'He just said one line and in that one line he said everything.'
The climate for 'doing business' remains forbidding, taxtortion is still rife, corruption at state and district levels has increased, oil prices remain extortive with high taxation, and the continued red tape has kept the enterprise system as stifled as before, points out Debashis Basu.
'The overwhelming evidence from various studies and reports indicates that the current work culture in the IT sector, characterised by excessive hours, has severe consequences for health, productivity, and overall quality of life.'
India's services sector growth eased slightly in April but growth of new business and output remained sharp and among the fastest in 14 years amid favourable economic conditions and strong demand, a monthly survey said on Monday. The seasonally adjusted HSBC India Services Business Activity Index fell from 61.2 in March to 60.8 in April, highlighting one of the strongest growth rates seen in just under 14 years. Survey members attributed the latest upturn in output to favourable economic conditions, demand strength and rising intakes of new work.
The chances of former workers getting jobs depends on the model under which Ford would restart its Chennai plant operations -- under Ford India or as a joint venture or under any other model.
It, however, is yet to decide on the annual wage rise.
Once we break free of the idea that land is scarce, real estate is just a pile of bricks, steel, and glass. Any price surge will kick off a supply response, which kills off the possibility of sustained price appreciation, points out Ajay Shah.
The company's IT services segment had a headcount of 158,217.
'Healthcare is not an industry.' 'The government is only encouraging insurance as they are not able to provide healthcare to people.' 'Opening new medical colleges is not what is needed.' 'You have to invest in public sector hospitals.' 'You cannot hand over healthcare to the private industry.'
He said the Finance Minister assured the delegation that the Financial Services Secretary would look into the matter and the settlement process would be expedited.
The NHRC has observed that the content of the news report, if true, raise a serious issue of human rights of the workers in violation of the labour laws and the guidelines issued by the Union Ministry of Labour and Employment from time to time.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Apprentices get at an average of Rs 10,000 to Rs 12,000 per month which can double after one year of on-the-job training.
The June quarter is usually considered as a seasonally strong period for the IT sector.
'A cutback in hiring and compensation growth by IT companies will have a significant impact on consumer demand, especially in the urban sector of the economy.'
The notice requested Rashid or a representative of his to appear before the district expenditure monitoring committee within two days to address the discrepancy and ensure timely submission of the expenditure report to the Election Commission of India.
In its master circular on general insurance products, which takes immediate effect, Irdai specified, 'The customer may be required to submit only those documents directly related to claim settlement.'
Singh targeted the Congress using a 'snakes and ladders' analogy, saying the party will fall to zero from 99 after being bitten by a snake -- referring to the grand old party winning 99 seats in the Lok Sabha polls.
'The government should act proactively to instil confidence in the private investors, and also boost the purchasing power of people directly or indirectly by ensuring minimum wages.'
Despite rising salaries, the country can sustain the cost advantage for another 10-15 years.
Shalini Gupta, a freelance writer from Pudicherry, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
The bank unions had threatened to go on 4-day strike from February 25.
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