Economy

Rural India surprises with job loss amid peak harvesting season in October; labour market stagnates

It is possible that employment under the MGNREGS has declined significantly in October.
farm jobs, rural jobs, kharif harvesting, MGNREGS

Road to Revival: More stimuli soon to lift economy, says DEA secy

PLI scheme to be extended to more sectors, budget capex being pushed, asset monetisation in focus

I hope you have sought legal recourse to recover your money from the builder.

Kerala to fix MSP for veggies & fruits, among 16 crops, from November 1

The Kerala government on Wednesday decided to fix a minimum support price (MSP) for vegetables and fruits as part of its decision to support farmers and boost the agricultural sector.

PM to soon meet top global fund houses on infra financing: DEA Secy

There are fund houses around the world which are in touch with the government for investment in some good infrastructure assets which require patient capital, he said.

To augment infrastructure and create jobs in the country, a government task force has projected total investment of Rs 111 lakh crore in infra projects over five years.

Former RBI governor Raghuram Rajan cautions against import substitution

"If the focus (under Aatmanirbhar Bharat initiative) is on import substitution by erecting tariffs, which we have done lot of in the last few years, then I think it is a direction we have tried before

Govt open to further stimulus to lift economy, says DEA Secretary

The government had announced a Rs 1.70 lakh crore Pradhan Mantri Garib Kalyan Yojana (PMGKP) in March to protect the poor and vulnerable sections from the impact of COVID-19 crisis.

Commerce ministry recommends continuation of anti-dumping duty on Chinese Synthetic Rubber

Dumping impacts the price of that product in the importing country, hitting margins and profits of manufacturing firms.

India, China, antidumping duty, Synthetic Rubber, Directorate General of Trade Remedies, cheap imports

India at doorstep of post-Covid recovery; RBI deployed instruments that were not in toolkit, says RBI Guv

Shaktikanta Das said that confident policymakers will be able to overcome challenges due to Covid.

rbi, reserve bank of india, Shaktikanta das, economic recovery

Coronavirus makes India walk faster than world in these 2 areas; new jobs may flood market soon

While 58% companies in India are accelerating automation of tasks, compared to 50% globally, as many as 87% are accelerating digitalisation of work processes, above the global average of 84%.

automation, digitalisation, jobs, employment, wef, world economic forum

Green shoots of economy may not live long; September recovery may fade away after festive season

Sharp favourable base effects have likely contributed to the high performance of some outliers, such as the output of Coal India Limited (CIL), which are likely to be unsustainable.

indian economy, economic revival, GDP, festive season, GST e way bill, petrol diesel sales, electricity, power demand

Consumer indiscipline: Liquidity package fails to stem UP discoms’ dues to gencos

Also, in order to help the cash-strapped discoms, the power ministry has reduced late payment surcharges, a move could potentially provide a relief of about Rs 6,000 crore annually to them.

The over-dues — payment default of 45-60 days or more — of all state-run discoms in the country to power plants is seen to increased 52% annually to Rs 1.2 lakh crore at August end.

Urban unemployment was moderating in year through September 2019

Urban unemployment in the age group 15-29 years was 20.6% in July-September 2019, as compared to 21.6% in the previous quarter and 23.1% in the year-ago period.

Overall, in the urban areas, the WPR stood at 33.7% in July-September 2019 compared with 32.9% in April-June 2019 and 32.6% in July-September 2018.

Indians not saving enough for retirement: Survey

These figures underline how Indians may be willing to fund their retirement corpus from surplus income, but are less likely to do so by sacrificing current expenses.

Additionally, barely one in five Indians consider inflation while planning for retirement and 41% of respondents said they had channelled their retirement investments on life insurance while 37% preferred fixed deposits.

Quality public investment a challenge

The values of vocational training are to be inculcated on an immediate basis in the pedagogy to enhance the worth of these candidates in the emerging segments of the economy.

A strong case nevertheless has been made for enhancing public investment. Studies have shown that 1% rise in high quality public investment generates confidence in the economy to promote private investment by 10% and contributes a 2.7% rise in GDP.

WTO members discuss proposal of India, South Africa for easing IP rules for COVID-19

The WTO states the proponents of the proposal argued the relaxations would avoid barriers to the timely access to affordable medical products, including vaccines and medicines.

World Trade Organization, WTO, World Trade Organization news, intellectual property, intellectual property rights, India, South Africa, coronavirus, covid19

Sales of manufacturing companies contracted 41.1% in Q1, says RBI analysis

The data on performance of the private corporate sector during the first quarter of 2020-21 has been drawn from abridged quarterly financial results of 2,5361 listed non-financial companies.

manufacturing, RBI, Reserve Bank of India, coronavirus, India inc, industry, pandemic, Q1, private sector

Govt procures 98.19 lakh ton paddy at MSP for Rs 18,540 crore

Paddy Procurement during corresponding period of Kharif Marketing Season (KMS) 2019-20 was 80.20 lakh tonnes.

Paddy, Kharif, FCI, farmers, Kharif Marketing Season, Kharif crops, MSP

India receives highest ever FDI for first five months this fiscal; govt hails these measures

The ministry said that the measures taken by the government on the fronts of FDI policy reforms, investment facilitation, and ease of doing business have resulted in increased FDI inflows into the cou

fdi, foreign investment, fpi, foreign equity investment, investment into india

Retail inflation eases marginally for farm, rural workers in September

The rise in index varied from state to state. In case of agricultural labourers, it recorded an increase of 1-23 points in 20 states, it said.

Tamil Nadu with 1,234 points topped the index table whereas Himachal Pradesh with 816 points stood at the bottom.

Indians shying away from retirement plans; focus more on these new-age priorities

While Indians prioritise contingencies like illness or accidents, more than half of urban Indians have made no retirement plan at all, and the average age by which they say they will have a plan is 51

retirement plan, savings, future planning, current lifestyle

Next year will be the greatest economic year in US history: Donald Trump

Acknowledging that the country was reeling from the impact of the coronavirus, Trump promised his supporters that the country will soon get back to normal life.

India mulls trade talks with Taiwan as both spar with China; investment in tech, electronics on cards

A trade deal with Taiwan would help India’s goal of seeking greater investments in technology and electronics.

india, taiwan, china, trade relation, export, import

Crores of Indians locked out of ration card system that provides cheap food; starvation deaths haunt poor

India spends more than 1 trillion rupees on the ration card program but there are still tens of millions getting locked out of the assistance.

ration card, free food, cheap food, india hunger

Capex target: Oil & gas, coal PSUs told to stick to FY21 plan

FM says scaling up of CPSE capex in FY21-FY22 vital for economic revival

The eleven CPSEs, which attended Monday’s meeting, include biggies like ONGC, Indian Oil, BPCL, GAIL (India) and Coal India.
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