Indian employees are estimated to have received an average salary increase of 14 per cent this year. The rate is expected to be maintained with 2008 settlements forecast to average 15 per cent. That compares with an anticipated annual inflation rate of 5.7 per cent this year and 5.4 per cent in 2008.
In fact, since 2013, China has become the largest market for robots.
In the past five years, the US has seen nearly two dozen Bills on employment visas introduced without success. But this time it is different, industry sources tell Ayan Pramanik.
In the latest draft of the Code on Social Security Bill, 2019, the government has decided to stick to the current thresholds for providing social security benefits to workers by industry.
Observing that the economic recovery was not yet fully entrenched, the RBI Governor said recovery is likely to be gradual.
In the third of a six-part series T E Narasimhan finds out how the hub of India's firecrackers industry is coping after more than a month of the note ban.
The immediate need is to put more money in the hands of agriculture-based and rural households to improve their purchasing power, says S Mahendra Dev.
Charging the Indian Banks Association with going back on its commitments to the employees on increasing their wages and introducing a pension scheme, CPI leader Gurudas Dasgupta said he apprehended "prolonged confrontation" which would put the entire financial system in jeopardy.
Behind the movement are shock-workers functioning quietly to ensure that a seemingly spontaneous, apolitical, grassroots mobilisation sustains itself without dribbling into chaos or violence. Sai Manish lists some of them.
The airline has an annual wage bill of Rs 3,100 crore (Rs 31 billion) and the report has said as many as 2,600 employees will retire during the period of freeze.
Trade unions have called for a nation-wide strike on September 2.
With a median gross salary of Rs 341.8 per hour, the IT sector in India has emerged as the most lucrative sector in India, followed by finance where employees get Rs 291 per hour.
The frontline software exporting companies are likely to post modest growth in their fourth quarter earnings on the back of increased overseas demand, analysts said.
The dollar moved higher, while prices for US government debt fell, as traders ramped up bets the Federal Reserve would raise interest rates in March
'While the poor have little say in shaping India's intellectual or public discourse, they do have a significant role in deciding political outcomes,' points out Roshan Kishore.
Dr Rakesh Mohan, former RBI deputy governor, and Dr Pronab Sen, former chairman of the Indian Statistical Commission discuss the issues facing the Indian rural and manufacturing sectors and what the government must possibly do to improve demand and perk up the Indian economy
'If the Indian economy formalises, industrialises, urbanises and develops human capital, 10 lakh youngsters will join the labour force every month in the next 10 years.' 'It's not a bulb that will go off; it is a sunrise.'
According to the report, the magnitude of internal migration is about two-and-a-half times that of international migration.
Human resources minister Datuk S Subramaniam said there are around 1,50,000 Indians living in Malaysia 'illegally' and both the Malaysian and Indian governments are taking steps to reduce the number.
'COVID-19 is just an excuse to pass anti-labour laws.'
Converts part of fixed salary component into variable one
The employees backed by the Centre of Indian Trade Unions have been on strike since June 7 demanding union recognition, reinstatement of some suspended workers and wage hike, CITU office-bearers said.
"Outlook for wages and salaries... given the current scenario, we have no plans for increase in the course of the year," the Bangalore-headquartered, New York Stock Exchange-listed company's executive vice-president, Pratik Kumar said. On campus hiring in the current fiscal, he said the company would visit the colleges (only) in January-March (unlike previous years when they selected students a year before they got the degree) but gave no firm numbers.
The decline bolstered bets that the Federal Reserve will hike interest rates in mid-2015
Domestic cooking gas (LPG) price was on hiked by Rs 3.46 per cylinder after the government raised the commission paid to dealers by over 9 per cent.
Protests by central labour unions and widespread criticism from Opposition parties because of job losses on account of demonetisation and the GST have put the contentious labour reform proposals in the slow lane.
In its daily briefing, the government also reported Goa is now free of coronavirus.
The Economic Survey has suggested that Contract Law should also be amended, which would help in utilising such labour mainly in non-core activities. In addition, the survey has observed that labour laws should be applicable to companies that pay wages to contract labour.
The pandemic has forced us to reflect and re-evaluate our old habits and perceptions, says Anamika Sengupta.
'The package will help in realising the true potential of employment generation in the textile and apparel sector.'
While the denial rate has dropped slightly to 21 per cent in 2019 from 24 per cent in 2018, the National Foundation for American Policy has said it is much higher for Indian IT companies like Tata Consultancy Services (TCS) and Wipro and very low for American companies like Amazon and Google. For instance, the denial rate for TCS and Infosys in 2019 was 31 per cent and 35 per cent respectively, whereas for Wipro it was 47 per cent and 37 per cent for Tech Mahindra. On the other hand, the denial rate for the new H-1B petitions in 2019 was just four per cent each for Amazon and Google. The denial rate for Microsoft during the same period was six per cent, and Facebook along with Walmart was just three per cent each.
Across all industries in India, almost 87 per cent of respondents plan to allocate a larger portion of their budget to high performers
'It is common knowledge that cash is anonymous.' 'When demonetisation was implemented, one of the intended objectives was to put identity on the cash holdings in the economy.' 'With the return of Rs 15.28 lakh crore in the formal banking system, the almost entire cash holding of the economy now has an address.' 'It is no more anonymous,' says Arun Jaitley.
The Oil Sector Officers Association, which claims to represent executives at 14 state-run firms, is protesting against a pay increase smaller than it had demanded.
GAIL executives, 2,200 in number, are part of the Oil Sector Officers Association, which has given an indefinite strike call from Wednesday to protest against a pay increase smaller than what was demanded by the organisation. A strike in the oil sector can cripple the already fragile economy and companies like GAIL had been approaching courts for restraint orders to keep fuel supply lines operating.
'A proposal to do away with labour laws is not feasible.' 'That's why we wanted to have a dialogue with the states.'
'India resembles not just the more turbulent bits of its own past, but other 'managed' democracies, where all institutional strength and independence have been hollowed out to serve political power,' notes Mihir S Sharma.
Petroleum secretary R S Pandey and heads of oil PSUs on Friday drew a blueprint of a contingency plan to keep refinering running, fuel stations operational and oil and gas flowing in the event of the strike, official sources said. While Hindustan Petroleum was never part of the agitation called by OSOA, executives from Indian Oil, Engineers India and Oil India have since Thursday disassociated from the agitation.
At its peak five years ago, it was a lifeline for 5.5 crore, or one in every three rural homes
