PEOPLE, CASTE, poor, inequalities, urban, cities, capitalism, rural, villages

Religion and region have shaped how families are doing, data shows

Jobs, employment, hiring

Business Standard brings you top news at this hour

unemployment, employment

The notable rise in LPR and employment rate in India in the month of April reflects an increase in willingness among people to seek employment

Consumer sentiments

It is more likely that elections and El Nino will add to the volatility of consumer sentiments

jobs, jobless, unemployment, economy, hiring, workers, staff, employees

The unemployment rate in Andhra Pradesh was significantly lower among people with lower levels of education

Illustration

Analysts say slowing growth globally may limit future investments

layoffs, job loss, lay-offs, unemployment

Higher borrowing costs are already weighing on India's economy, data show

While the relatively richer and poorer households have seen their consumer sentiments spurt, the middle income households have seen slower growth in their sentiments

The largest provider of employment in Maharashtra is the agricultural sector

India's unemployment rate rose to 7.45% in February from 7.14% in the previous month, data from the Centre for Monitoring Indian Economy (CMIE) showed on Wednesday

women employees

An analysis of EPFO data for October 2021 to October 2022, finds that the monthly share of women's registration has consistently remained lower than 28%

The recovery in consumer sentiments from the pandemic has been the slowest among all economic indicators

India, incidentally, was the fastest country to report the unemployment rate for the month of January 2023

capex

The data also showed a 49.9 per cent year-on-year drop in completed projects, and an 87.5 per cent decline in stalling rates

The consolidation of consumer sentiments in November rests upon an expectation that the economy will do well in the near- and medium-term future

The estimated 0.7 million additional jobs created by listed companies may easily more than offset the recent layoffs seen in tech companies

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The unemployment rate among men and women has been estimated at 6.6 and 9.4 per cent, respectively

MGREGA, rural income, rural development, economy, poverty, poor, workers, jobs, employment, livelihood

The additional funds will be used to bulk up job and affordable housing schemes in the fiscal year ending March 2023

unemployment

The report said the decline in employment was mostly in rural India and mainly in non-agricultural rural India and the daily wage labourer segment was the most hit as it shrunk by nearly 15 million

Chart

Among the 25 states for which data is available with the CMIE, six states registered the unemployment rate in double digits

The unemployment rate shot up to 8.3 per cent, which was the highest, compared with the rates in the past 12 months

RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank

The scheme will offer an annual interest subsidy of between 3-6.5% on up to 0.9 million rupees of the loan amount

home loan, loan interest

Das asserted that directors in UCBs, who are elected to their positions, must possess expertise in diverse banking functions, including risk management and information technology

Shaktikanta Das

In Feb 2018, the MoD established two defence industrial corridors to serve as engines of economic development and growth of defence industrial base in the country

An exhibit of Su 30 MK-I fighter aircraft at the Bharat Dynamics Limited (BDL) pavillion during the 12th edition of DefExpo, in Gandhinagar on Tuesday

Defence Expo 2022

Weak demand, global slowdown add to their woes

Crude oil

Textile and clothing sectors must have a holistic approach with a long-term vision to seize the opportunity in the global market, industry officials said on Saturday.
Textiles and clothing industries are the second largest employment provider after agriculture generating Rs 30,000 crore as Goods and Services Tax revenue and USD 44 billion foreign exchange earnings, officials of Southern India Mills' Association said.
The industries have been facing challenges in the recent past mainly due to structural issues on the raw material front, high cost of production, scale of operation among others, SIMA Chairman S K Sundararaman said.
The Association would strive to address structural issues and enhance global competitiveness, he said.
According to association officials, the NDA government has been giving major thrust for enhancing the global competitiveness of the textiles and clothing industry and addressed several issues.
"However, the policy pitfalls in certain areas and delay in ..

exports

Chief Justice of India D Y Chandrachud on Saturday said the role of lawyers has evolved to address myriad global legal challenges in an era characterised by ever-increasing globalisation.
He said rapid technological advancement has created "complex legal issues", with lawyers leading the way in navigating this landscape. While the judiciary definitely bears the responsibility of administering justice and upholding the rule of law, lawyers play an equally vital role, he stressed.
"In an era characterised by ever-increasing globalisation, the role of lawyers has evolved to address myriad global legal challenges," the CJI said while speaking at the inaugural ceremony of the Bar Council of India's (BCI) 'International Lawyers Conference 2023' here.
He said lawyers ensure that clients and governments adapt to technological changes while upholding legal rights and regulations, covering areas like cybersecurity, data privacy and intellectual property.
"Lawyers also bear significant ...

Chief Justice of India (CJI) D Y Chandrachud

The Indian Embassy in Nepal on Saturday said the India-Nepal development partnership has gathered further momentum

India exports automobiles and parts worth $600-700 million to the Himalayan country every year

India Nepal

Inspire Films Ltd, a television content company, will launch an initial public offering (IPO) to raise Rs 21.22 crore.
The IPO, which will open for subscription during September 25-27, comprises 35.98 lakh shares for Rs 59 a piece with a face value of Rs 10 each, said a statement from the company.
A total of 10.24 lakh shares will be allotted to anchor investors and 6.82 lakh shares are reserved for Qualified Institutional Buyers (QIBs). While 5.14 lakh shares are reserved for high net-worth individuals (HNIs), 11.98 lakh shares are meant for retail investors and 1.80 lakh shares for market makers.
"Following the IPO, the company's shares will be listed on the NSE Emerge platform on October 9, 2023," it added.
The proceeds of the IPO will help Inspire Films to cater to the company's working capital requirements, and general corporate purposes facilitating strategic growth and development and covering the expenses.
"With our IPO we will be able to expand our business further and cr

India has the potential and should aim to grow at 8 per cent annually to bring about transformative changes in the lives of millions of people by around 2050, said noted economist and former US Treasury Secretary Larry Summers here on Saturday.
India's GDP growth in 2022-23 was 7.2 per cent as against 9.1 per cent in 2021-22. According to the Reserve Bank of India's projections, India's GDP will likely grow 6.5 per cent in the current fiscal year.
Summers clarified that 8 per cent growth was not his forecast on the basis of current policy, but added, "given India's potential, even in a more challenging world economy, I believe that it is an imaginable goal.
"...an eightfold expansion in the economy is transformative in the lives of hundreds of millions of people. I think it is something to target as India defines its greatness in this next century."
In his lecture on 'The World is on Fire', organised by the CII in partnership with Department of Economic Affairs (DEA), the eminent .

RURAL DEVELOPMENT, GDP, ECONOMYRURAL DEVELOPMENT, GDP, ECONOMY

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

The Nijjar murder is fast unfolding into treacherous scenarios that could have tragic consequences for both nations. No one stands to gain from the ongoing face-off

India Canada

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

The leaders of both countries should encourage bilateral trade and people-to-people exchanges that can help build bridges

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

Air India and Singapore Airlines will ensure minimum capacity on various domestic and international routes, including Delhi-Sydney and Delhi-Paris, as part of commitments made to fair trade regulator CCI to address possible competition concerns arising out of the Vistara merger.
Competition Commission of India (CCI), on September 1, approved the proposed merger of Vistara with Air India under a deal wherein Singapore Airlines will also acquire a 25.1 per cent stake in Air India.
Certain competition concerns due to the proposed merger were raised by the watchdog and to address them, the airlines have given certain commitments with respect to the merger.
As per the commitments, Air India has voluntarily offered to maintain "minimum capacity/ supply level" on certain overlapping O&D (Origin & Destination) domestic and overseas routes.
They are Bhubaneshwar-Delhi, Bengaluru-Guwahati, Cochin-Delhi, Delhi-Thiruvananthapuram, Amritsar-Delhi, Bhubaneshwar-Mumbai and Bengaluru-Delhi in

For comparison, the privatisation of Air India will result in an HHI score for the Indian aviation industry increasing by nearly 730 points from 2,775 to 3,503.

Aviation Sector, Aviation Industry

A day after the BJP announced its second list of candidates for the Madhya Pradesh assembly polls, the Congress on Tuesday said no matter who it fields, the people of the state have decided to oust those who had formed the government through the back door.
The opposition party said that with the announcement of the list, it seems results have been declared even before the polls.
The BJP on Monday released its second list of 39 candidates for the Madhya Pradesh assembly polls. It fielded Union ministers Narendra Singh Tomar, Prahlad Singh Patel and Phaggan Singh Kulaste and four other party MPs for the elections.
Besides the ministers, the MPs fielded are Rakesh Singh, Ganesh Singh, Riti Pathak and Uday Pratap Singh -- all from Lok Sabha.
Addressing a press conference at the AICC headquarters, Congress' media and publicity department head Pawan Khera also slammed Prime Minister Narendra Modi over his remarks in rallies in Madhya Pradesh and Rajasthan on Monday.
He said the Congress

Congress spokesperson Pawan Khera

The appointment of Scherer, 61, heralds broad continuity inside the main commercial arm, which competes with Boeing and makes up about 70% of the company's revenues

New Airbus A321XLR Photo credit: dreamstime.com

Companies which exceed their targets earn carbon credits that can be sold to firms which fall short of their goals

carbon emission, carbon tax, climate change, pollution

The domestic pharmaceutical industry needs to focus on the research and development of innovative products in order to move up the value chain and achieve global leadership in the sector, Union minister Mansukh Mandaviya said on Tuesday.
The Union health minister, who also helms the Chemical and Fertilisers ministry, asked the medical technology companies to produce critical equipment in India for the global markets.
While formally unveiling the National Policy on Research & Development and Innovation in the Pharma-Med Tech Sector here, Mandavya said the domestic pharmaceutical companies invest less on research and development when compared to multinational companies.
"International MNCs spend 20-25 per cent of their profits in research and innovation while for Indian companies the average is around 10 per cent...Till the time we do not come out with research-led innovative products, we cannot lead the segment globally," he noted.
He said the government wants to make the pharma ...

CMIE

Rich or poor, there's a caste element in financial recovery after Covid-19

Top headlines: Unemployment rate dips 7.7%, AAP's 'maha rally' and more

Unemployment rate rises in April

Consumer sentiments expected to stay sluggish

The employment challenge in Andhra

New projects hit Rs 12.3 trillion in March quarter on large orders

India's unemployment rate rises to 3-month high of 7.8% in March: CMIE data

Consumer sentiments improve

Employment in agriculture soars in Maharashtra

India's unemployment rate rose to 7.45% from 7.14% in January: CMIE

Post-pandemic job recovery for Indian women slower than men: Report

Consumer sentiments improve, but still too low

Unemployment rate falls, but still too high

At over Rs 6 trillion, capex on new projects sees 44% jump in Q3

Rural sentiments upbeat in November

Smart pickup in good jobs

Urban unemployment rate drops for fifth quarter to 7.2%: NSO survey

Indian govt to give additional funds for rural schemes to ease pain: Report

Rural pain pushes India's unemployment rate up to 7.7% in October: CMIE

Unemployment rate rose to 4-month high of 7.77% in October: CMIE data