Pradhan Mantri Shram Yogi Maandhan scheme: Enrolment in pension scheme for low earners dipping fast
In the two years and four months since PMSYM was launched, just a little over 45 lakh people secured the pension cover.
Rising Joblessness: EPF sops for industry, workers to be extended by 6 months
If the scheme is extended, a large section of the industrial and commercial establishments in the country and the relatively low-earning new employees joining them till the end of calendar year 2021 will be able to avail the
Highway construction’s pace bulldozes pandemic barriers! Sets new record
Despite the pandemic-induced lockdown and restrictions on mobility in large parts of the country, highway construction grew by 74% on year in April-May of the current financial year to 1,470 km or 24.1 km/day.
Asset monetisation: NHAI to wait till traffic is normal
According to rating agency Icra, toll collections fell by around 10% in April 2021 over March 2021 and estimated to have declined by 25-30% in May 2021 over April 2021.
Larger companies are opting for gig workforce: Rachit Mathur, co-founder and CEO, Avenue Growth
Avenue Growth is an on-demand work platform, which helps companies in find-hire-manage gig workers and get the work done on its platform. We offer two kinds of engagement models to clients: task-based and shift-based.
Rural jobs scheme: Curious gap between ‘offers’ & works picked up
Unlike in April 2020, which saw complete nationwide lockdown and a decline in demand for MGNREGS work, the demand for work under the scheme that provides subsistence wages, remained high in May 2021, which also witnessed a ne
Steel prices hiked again, HRC rate up Rs 3,000/tn
India was a net exporter of finished steel during the first month of the current fiscal year 2021-22, recording a net trade surplus of 0.59 million tonne in April 2021. During April 2021, steel export from India increased by
Unemployment rate soars to 11.9% in May, 10 m jobs seen lost in the month
According to the Centre for Monitoring Indian Economy (CMIE) data, barring April, May and June last year, the monthly unemployment had never breached the double-digit mark at least since January, 2016.
Urban joblessness at 17.88%, rural rate falls 9.58%
This is largely due to a near 400 bps fall in the rural unemployment rate to 9.58% for the week under review from 13.51% for the week ended May 23.
Pandemic Setback: ILO says India’s unemployment rate highest in 3 decades in 2020
According to the ILO database, India’s unemployment rate rose between 2008 (5.36%) and 2010 (5.65%), and then fell between 2013 (5.67%) and 2019 (5.27%). It then rose sharply to 7.11% in 2020.
Loss of manufacturing jobs: ‘Boost purchasing power to revive demand, launch urban job guarantee scheme’
She said that time was appropriate to launch an employment guarantee/ income support programme for the urban poor.
Pandemic Lows: Formalisation of jobs takes a big hit
New subscribers to both EPF and ESIC fall by a quarter in FY21
Covid-19 lockdown blues: Urban employment rises relentlessly; rate rises 270 bps to 17.41% in week ended May 23
The economy’s inability to create jobs amidst lockdowns and restrictions on mobility have contributed to the rise in urban joblessness.
Make in India? Half of manufacturing jobs lost in five years
According to an analysis by the Centre for Economic Data and Analysis (CEDA) based on the CMIE monthly time-series of employment by industry, manufacturing employment in 2020-21 was nearly half of what it was five years ago.
Labour unrest: Strikes, lockouts down in Modi era
If more than one trade union of workers registered under the IR Code are functioning in an industrial establishment, and no such trade union has 50% or more workers on the muster roll, a negotiating council will be constitute
Firms shifting scale more towards temps, gig workers & freelancers: Paul Dupuis, MD & CEO, and, Viswanath PS, CFO, Randstad India
We provide both staffing and permanent placement, where we place candidates in client organisations. For our staffing business, we hire the people in our payroll, but they are deputed to clients.
Lockdown woes: Joblessness rate near 1-year high; unemployment up in rural areas; virus threat hits demand for MGNERGS work
According to data released by Centre for Monitoring Indian Economy (CMIE), rural joblessness doubled to 14.34% in the week ended May 16 from 7.29% in the previous week. Urban unemployment rate went up to 14.71% in the latest
NHAI InvIT to hit market by month-end, not open to retail investors
The sources said market regulator Sebi has approved the draft prospectus submitted by the National Highways Infra Investment Managers (NHIIM), the investment manager which will manage the InvIT.
Highway construction: NHAI sets ambitious target of 4,600 km for FY22
Though the target for the current year appears to be a tall order, the NHAI believes that it could meet it with reliance on EPC projects and HAM projects. The authority has a robust stream of funds including budgetary outlays
Covid effect: Weakened economy can’t produce jobs, unemployment rate at 19-week high
There has in fact been a steady increase in unemployment in recent months – the relevant rate rising to a four-month high of 7.97% in April compared with 6.5% in March, 6.89% in February and 6.52% in January.
Steel makers raise prices by up to Rs 4,500 per tonne
Despite anaemic domestic demand primarily due to lockdown and restrictions on mobility, the price hike is mainly to align with the international prices, which have gone up continually in recent times thanks to China limiting
Covid-19 curbs push unemployment rate to four-month high of 8%
The spike in the unemployment rate was seen both in urban and rural areas. While the unemployment rate in urban areas was at 9.78%, the highest in eight months, in rural areas, it was 7.13%, a four-month high.
MGNREGA: April demand under rural jobs scheme highest in seven years
The MGNREGS dashboard, maintained by the rural development ministry, showed 2.6 crore households and 3.7 crore persons were looking for work in April this year, higher by 91% and 85%, respectively, over April 2020. In April 2
Centre to direct states to utilise Rs 24.5k cr DMF funds for fight against Covid
As per the latest government data, states have spent only Rs 21,512 crore or less than 50% of the Rs 45,977 crore accumulated so far under the DMF fund with contribution from mining lease holders.
Highway construction bulldozes Covid-19 roadblocks, clocks record level in FY21
A host of govt measures saw construction touch a record level in FY21, with the numbers expected to improve further in the ongoing financial year
Lockdowns: No immediate financial aid to migrant workers
Though business and industry are yet to face labour crunch, the exodus of workers from cities like Delhi and Mumbai have forced the government to sit back and take note.
Salaried jobs lost: 10 million & counting
Vyas estimates that overall there has been a 20% loss of household income saying it’s unlikely there would have been any improvement in rural wages since the data was announced in October last year.
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