Cmie

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COVID-19, lockdown impact: 27 mn youth in their 20s lost their jobs in April, reveals CMIE
Business

COVID-19, lockdown impact: 27 mn youth in their 20s lost their jobs in April, reveals CMIE

Over 27 million youngsters in their 20s lost their jobs in April. This has serious long-term repercussion, the CMIE report said.

Coronavirus Lockdown: India's unemployment rate soars to 27.11% for week ended 3 May, says CMIE
Business

Coronavirus Lockdown: India's unemployment rate soars to 27.11% for week ended 3 May, says CMIE

The COVID-19 crisis has led to a spike in the country's unemployment rate to 27.11 percent for the week ended 3 May, up from the under 7 percent level before the start of the pandemic in mid-March, the Centre for Monitoring Indian Economy (CMIE) has said

What to expect from September quarter GDP data, Mudra loans turn NPAs; read this and more on Moneycontrol Pro
Business

What to expect from September quarter GDP data, Mudra loans turn NPAs; read this and more on Moneycontrol Pro

Ahead of the September quarter data release, economists seem to be engaged in a game of competitive devaluation of the GDP growth estimate, putting it between 4.2 and 4.7%, at constant prices.

India's jobs crisis: It's no more about who's responsible, it's about what we do now to arrest precipitous slide
Business

India's jobs crisis: It's no more about who's responsible, it's about what we do now to arrest precipitous slide

The Narendra Modi government, very prickly about criticism on the economy, has been defending the problem of job deficit by picking the methodology that suits its counter-narrative, using the EPFO-based methodology.

Narendra Modi's big corporate tax cut unlikely to spur job bonanza, revive economy; measures to benefit companies: Experts
Business

Narendra Modi's big corporate tax cut unlikely to spur job bonanza, revive economy; measures to benefit companies: Experts

But while the tax cut brings the cost of doing business in India into line with its main Asian rivals, the government giveaway will do little to fix the lack of spending power, economists say.

GDP falls to 5%: Urgent economic reforms needed, but Centre's attention fixed on Ayodhya, Assam and Kashmir
India

GDP falls to 5%: Urgent economic reforms needed, but Centre's attention fixed on Ayodhya, Assam and Kashmir

Unless very high growth is revived, India’s journey towards eliminating poverty and dependence will halt.

GDP growth slips to 5%: There may be more bad news coming before things get better; economy must be sole focus now
Business

GDP growth slips to 5%: There may be more bad news coming before things get better; economy must be sole focus now

India could have been on a stronger wicket if the first Narendra Modi government had not missed several opportunities to strengthen the economy (this is not to take away from the few reforms it did undertake).

Make in India fails to generate adequate jobs; lack of funding options force Indian firms to up imports: L&T chief AM Naik
Business

Make in India fails to generate adequate jobs; lack of funding options force Indian firms to up imports: L&T chief AM Naik

On Saturday, Defence Minister Rajnath Singh gave his nod for a panel to review defence procurement procedure in a bid to strengthen the Make in India programme.

EAC-PM rejects Arvind Subramanian's claim on over-estimation of GDP, says services, agri sectors ignored in analysis
Business

EAC-PM rejects Arvind Subramanian's claim on over-estimation of GDP, says services, agri sectors ignored in analysis

The paper notes that Subramanian used 17 indicators to express his skepticism about the growth rates after 2011-12.

India has wage problem, not job problem; need to adopt Chinese model of opening up labour-intensive industries: Mohandas Pai
Business

India has wage problem, not job problem; need to adopt Chinese model of opening up labour-intensive industries: Mohandas Pai

TV Mohandas Pai said India does not face a job problem, but one of wages, as a lot of low paid jobs being created do not find favour with degree holders.

India's April unemployment rate rises to 7.6%, highest since October 2016; factory activity expands at slowest pace: CMIE
Business

India's April unemployment rate rises to 7.6%, highest since October 2016; factory activity expands at slowest pace: CMIE

Factory activity expanded at its slowest pace in eight months in April as growth in new orders and output dipped as the general election got under way, a separate private business survey found.

Labour Day 2019: Not just vanishing private investments, high cost of labour too is killing India's job market
Business

Labour Day 2019: Not just vanishing private investments, high cost of labour too is killing India's job market

There is no major mention of labour reforms in the BJP manifesto, even the Congress manifesto which speaks GST reforms and job creation has paid no significant attention to labour law reforms

Travels through the Hindi belt: Ex-corporator in Kanpur cultivates following by helping the unemployed take on the system
Politics

Travels through the Hindi belt: Ex-corporator in Kanpur cultivates following by helping the unemployed take on the system

According to the CMIE, Uttar Pradesh’s unemployment rate is 8.1 percent as against the national average of 6.7 percent. In Kanpur, the numbers reflect starkly.

Travels through the Hindi belt: Unpaid and unemployed, Kanpur's textile workers slam Modi for failing to revive mills
Politics

Travels through the Hindi belt: Unpaid and unemployed, Kanpur's textile workers slam Modi for failing to revive mills

Once called Manchester of East for its thriving textile industry, the textile mills in Uttar Pradesh's Kanpur now resemble a ghost town with hundreds of textile workers scrambling for alternative livelihoods

CMIE data shows unemployment rate crossed 8% in first three weeks of April; where are the jobs disappearing?
Business

CMIE data shows unemployment rate crossed 8% in first three weeks of April; where are the jobs disappearing?

The escalation in April unemployment figures, as CMIE itself points out, weakens the optimism seen in the latter half of March, when data showed an improvement in the scenario

Five million lost jobs between 2016 and 2018; urban individuals hit hardest, says Azim Premji University report
Business

Five million lost jobs between 2016 and 2018; urban individuals hit hardest, says Azim Premji University report

The unemployed were mostly higher educated and young people, in the 20-24 age range, according to the study titled “State of Working India 2019”.

IIP at 20-month low in February: Growth worries deepen as manufacturing sector stress continues to hammer factory output
Business

IIP at 20-month low in February: Growth worries deepen as manufacturing sector stress continues to hammer factory output

The IIP numbers are typically touched with a bit of suspicion by seasoned economists as these are highly volatile monthly numbers. Sudden spikes and drops are normal and don’t get over hype.

January IIP at 1.7%: Why a consistent downward trend in factory output data over last few months is worrying
Business

January IIP at 1.7%: Why a consistent downward trend in factory output data over last few months is worrying

The IIP trend over last 6-8 months would perhaps put pressure on the Monetary Policy Committee to go for a sharper rate cut as early as in April to support growth.

Indian techies struggle as jobs crisis worsens: Votes of jobless youths can hurt Narendra Modi's chances in LS polls, say critics
India

Indian techies struggle as jobs crisis worsens: Votes of jobless youths can hurt Narendra Modi's chances in LS polls, say critics

These engineers struggling to find jobs highlight Narendra Modi's difficulty in creating jobs by boosting manufacturing under 'Make in India' as promised in 2014.