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.
'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.
According to the report, the magnitude of internal migration is about two-and-a-half times that of international migration.
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
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.
Trade unions have called for a nation-wide strike on September 2.
'COVID-19 is just an excuse to pass anti-labour laws.'
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
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.
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.
'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.'
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.
In its daily briefing, the government also reported Goa is now free of coronavirus.
The pandemic has forced us to reflect and re-evaluate our old habits and perceptions, says Anamika Sengupta.
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.
Converts part of fixed salary component into variable one
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.
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.
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.
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.
"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.
'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.
'The package will help in realising the true potential of employment generation in the textile and apparel sector.'
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.
Launching the scheme, Modi said during the nationwide lockdown, the talent from cities returned to villages and it will now give a boost to development of rural areas. The 'Garib Kalyan Rozgar Abhiyaan' will be implemented on a mission mode in 125 days in 116 districts of six states -- Bihar, Madhya Pradesh, Uttar Pradesh, Rajasthan, Jharkhand and Odisha -- that received the maximum numbers of migrant workers back.
'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.
Across all industries in India, almost 87 per cent of respondents plan to allocate a larger portion of their budget to high performers
In MP, farmers say sales under new 'Sauda Patrak' method below MSP; Haryana mustard farmers wait for their turn to sell. The annual purchases of major rabi crops in North India largely wheat, mustard and also chana to some extent have been delayed as most cereal mandis were closed in the aftermath of the nationwide coronavirus lockdown.
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.
'It could take 12 months or more for hiring to get back on track.' 'New opportunities would come up and there will be demand for skillsets that can help dealing with the current situation.'
At its peak five years ago, it was a lifeline for 5.5 crore, or one in every three rural homes
For the first time, consumers, including those at the so-called bottom of the pyramid, are monetising gold by taking loans from banks, offering the yellow metal as collateral, says Tamal Bandyopadhyay.
The unemployment rate among women came down to 12.4 per cent in urban areas
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.
Not for reasons related to personal financial problems or economic anxiety about the future, but...
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