'The government wants foreign companies to capture the insurance market.'
According to estimates available with industry experts, the wage bill of Maruti Suzuki, the country's largest car maker, is expected to increase by Rs 65-70 crore (Rs 650-700 million) after the increments.
Called the US Citizenship Act of 2021, the legislation modernises the immigration system, and also proposes to eliminate the per country cap for employment-based green cards, a move that would benefit thousands of Indian IT professionals whose current wait period for legal permanent residency runs into several decades.
To kick-start the work under MGNREGA after the lockdown is lifted, the government has already prepared plans and states have also submitted their work plans.
The 30-day moving average of the unemployment rate had climbed up much ahead by January 6, to 7.8%, says Mahesh Vyas.
After assuming power in 2014 with a full majority of its own, the BJP-led NDA government started an ambitious process of reforming labour laws in the form of codes aimed at making the framework less cumbersome with a variety of alterations. It had planned four codes each for industrial relations, wages, social security and welfare, and occupational safety, health and working conditions. To this end, 35 central labour laws were to be converted into four codes that would have had the virtue of streamlining labour relations. But none of the proposed code Bills could be converted into a law principally because neither trade unions nor industry representatives came on board. They hold the key to India's low-growth-high unemployment paradigm but the government may struggle to push them through this time as well. Somesh Jha explains why
A new Congress leader may make an electoral impact by his very presence. Congress voters who had moved away from the party, after being influenced by the BJP's 'family rule' campaign, can now return with a certain moral satisfaction, observes N Sathiya Moorthy.
At a combined level, the fiscal deficit of the Centre and states together will come at 12.1 per cent, with the states contributing 4.5 per cent.
An interplay of Modi government's outreach in Bihar and the sequence of events in Chirag Paswan's life could make Bihar a game of musical chairs when the results are out.
Between April and September 2014, the central govt released Rs 13,618 cr to states, against Rs 24,676 cr in the same period last year.
The bill also seeks to enhance the eligibility limit for payment of bonus from the salary or wage of an employee from Rs 10,000 per month to Rs 21,000.
In a statement, Gandhi urged Prime Minister Narendra Modi and the government to increase the number of testing facilities across the country and make public the details of hospitals and medical facilities through a dedicated portal.
Women, if addressed properly, have the potential to become a decisive factor in elections.
Uptick in growth projected in second half of current fiscal based on 10 factors including higher FDI flows, build up of demand pressure, positive GST revenue growth
The Wayanad MP, who is on two-day visit to his constituency in poll-bound Kerala, also took on Prime Minister Narendra Modi on MGNREGA.
The Taliban will view India through the eyes of the ISI and can be relied upon to undertake hostile actions against this country, warns Virendra Kapoor.
The Reserve Bank on Friday projected retail inflation to be in 5-5.2 per cent range during the first half of the next fiscal year, expecting further softening of vegetables prices in near term. Also, it has lowered the retail inflation forecast for the current January-March quarter of 2020-21 fiscal at 5.2 per cent. The Reserve Bank (RBI) has kept the key policy rate unchanged at 4 per cent, with an accommodative stance, so as to ensure that inflation remains well within the target, Governor Shaktikanta Das said while announcing the last monetary policy of 2020-21.
It would only be 'fair' for rivals Liverpool to be awarded the English Premier League trophy if the season cannot be completed due to the coronavirus outbreak.
Governments seem to be a lot more wary of imposing a draconian lockdown this time. Some lessons seem to have been learned. So, it may be fair to assume that these lockdowns will do less harm. But they will hurt the recovery process, which is still incomplete, warns Mahesh Vyas.
India has helped the world discover the true potential of democracy and the keyword for the country today is compassion for the downtrodden, needy and those on the margins, President Droupadi Murmu said on Sunday.
March and April payrolls were revised to show 32,000 more jobs.
How soon can India reach a point when there is no hidden underemployment and all who want work can find it at a fair wage and decent work conditions, asks Nitin Desai.
While growth metrics for Infosys was skewed to a single vertical and it is struggling to get a handle on costs, TCS has been able to manage growth and keep cost inflation under control.
However, demand was still much higher compared to the previous years, underlining the scheme's vital role in providing employment to the rural poor, a vast majority of whom are migrants.
Last year, major tea companies performed well on the back of higher prices. However, a drop in prices over the past month and a half, is threatening to put a spanner in a repeat performance. Tea prices started on a strong note this year with prices ruling higher than last year on the back of crop loss due to adverse weather conditions. After mid-June, however, prices started dropping, though they are still higher than 2019-levels for north Indian teas (which account for more than 80 per cent of total production).
Union Home Minister Amit Shah on Monday said all clauses of the Bodo Accord signed by Prime Minister Narendra Modi's Government last year will be implemented within two-and-a-half years.
The state has allowed industrial units in special economic zones (SEZs) to lay off workers without government's sanction, regardless of the number of workers
However, volatility is likely to be on the rise, said Benjamin Yeo, MD & CIO (Asia & Middle-East) for Wealth & Investment Management, Barclays.
As the economy has crossed over 9 per cent growth, the industry is facing the supply constraint of trained manpower, resulting in higher wages.
The party also promised to end the mafia raj by creating corporations for the sale of liquor and sand mining.
Anmol Ambani, the eldest son of industrialist Anil Ambani, has lashed out against a new round of lockdowns being imposed amid the surge in COVID-19 cases, saying such restrictions do not concern health but control and that they destroy the very backbone of the society and economy. The 29-year-old former executive director of Reliance Capital Ltd in a series of tweets lambasted the new semi-lockdown rules hurting small businesses and daily wage earners. "Professional 'actors' can continue shooting their films. Professional 'cricketers' can play their sport late into the night. Professional 'politicians' can continue their rallies with masses of people. But YOUR business or work is not ESSENTIAL. Still don't get it?" he said in a tweet.
'I saw an opportunity to provide people with employment, enabling them to sustain themselves and, in the process, help alleviate society's suffering.'
The cumulative loss of salaried jobs since the pandemic is even larger at 12.6 million, reveals Mahesh Vyas.
Infosys is now testing with five or six global clients
Indian wage growth was by far the most unequal.
The bill proposes to increase the H-1B visa fees to about $5,000 per application.
Gandhi also called upon the government to immediately put money into the hands of the poor and provide a financial package to the industry to help revive the economy.
In five years, per-employee revenue for IT companies grew at 9 per cent each year.
India's economy is showing signs of slowdown, with hi-frequency indicators like industrial output posting subdued growth and automobile sales touching historical lows.
