STATE OF WORKING INDIA 2023
Tier I cities dominate in blue-collar gig job opportunities: Report
A recent report by WorkIndia highlights the growing impact of the gig economy in India's urban landscape. Tier-I cities dominated short-term blue-collar job opportunities, accounting for 67.1% of openings from June 2023 to June 2024, with Delhi leading at 17.7% and Mumbai at 16.57%. Tier-II cities followed with 26% of job openings, while tier-III cities faced higher competition despite 11% of applications. Back-office roles were most in demand, comprising 34.5% of jobs, reflecting a shift towards digital skills in roles like online marketing, marking a significant trend in workforce dynamics.
India's overall SDG score on national index up in 2023-24 at 71: NITI Aayog report
The SDG India Index 2023-24, released by NITI Aayog on Friday, shows Uttarakhand, Kerala, Tamil Nadu, Goa and Himachal Pradesh emerged as the top performing states in the overall ranking. On the contrary, Bihar, Jharkhand, Nagaland, Meghalaya and Arunachal Pradesh were the laggard states, placed at the bottom of the index.
INDIA Bloc allies strive to strike big in state elections
Gauging that the electoral outcome in these three states headed for polls in September-October could have political implications even beyond them, Congress and its allies are working on strategies to get a head start besides firming up their internal unity.
Amazon workers in India endure intense pressure, unsafe working conditions: UNI Global Union
Amazon warehouse and delivery workers in India are facing intense pressure and unsafe working conditions while dealing with insufficient pay, according to a report by the UNI Global Union. The report, published on Wednesday, is based on a survey of 1,838 Amazon employees in India.
India to sell wheat from state stocks to flour millers, biscuit makers
India plans to sell wheat from state reserves to bulk consumers like flour millers and biscuit makers to control local prices by boosting supplies. The government has allowed the Food Corporation of India to offer wheat at a lower price, aiming to attract private players and potentially import wheat after a six-year gap.
Ola CEO Bhavish Aggarwal endorses Narayan Murthy’s 70-hour work week
Bhavish Aggarwal, CEO of Ola, has strongly supported Narayan Murthy’s proposal advocating a 70-hour workweek for young professionals. In an exclusive podcast interview with ANI, Aggarwal praised Murthy's leadership during his return to Infosys in 2013, emphasizing the transformative impact he had on the company. Aggarwal also expressed admiration for Steve Jobs and his influence on him, citing his preference for Apple products. Additionally, Aggarwal raised concerns about "techno-colonialism," highlighting issues surrounding India's data being processed abroad and sold back to India.
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Govt sets up task force to study impact of AI on future of work: Labour secretary Sumita Dawra
The government has formed a taskforce to examine the effects of artificial intelligence (AI) on the future of work, according to labour secretary Sumita Dawra during an industry interaction in Hyderabad on Friday. The announcement was made at an event organized by the Confederation of Indian Industry (CII) and the Employers’ Federation of India (EFI).
Vendetta politics: Congress slams PM Modi over 2023 decision on sale of rice to state govts
Congress accuses Modi's 'vendetta politics' of obstructing Karnataka's 'Anna Bhagya,' increasing food subsidy costs up to Rs 18000 crore. FCI halted OMSS rice sales despite 50 million tonnes stock. Demand for BJP, JD(S) MPs, and Consumer Affairs Minister to seek compensation. Karnataka offered Rs 170 monthly cash to 6.5 crore people for rice purchase.
Supernova insolvency case: NCLAT to wait for lenders' decision on settlement offer from Supertech Realtors
Insolvency appellate tribunal NCLAT on Wednesday said it will wait for the decision of lenders on a revised settlement offer by Supertech Realtors, which is developing a residential apartment, offices, retail and luxury hotels at its Supernova project. NCLAT also directed the Interim Resolution Professional (IRP) not to constitute a Committee of Creditors. However, it said the construction work for the project would be continued under the supervision of IRP.
Women in India face a jobs crisis. Are factories the solution?
As international brands limit their dependence on China by shifting some manufacturing to India, the trend holds the potential to generate significant numbers of manufacturing jobs - especially for women, who have largely been excluded from the ranks of formal Indian employment.
ITR filing for FY2023-24: Latest full list of authorised banks for tax payments available at e-Pay Tax service
Taxpayers are offered wide range of modes for payment, including Net Banking, Debit card, Pay at Bank Counter. List of banks for tax payments available at e-Pay Tax service, as per the Income Tax Department’s website:
Budget 2024: Ahead of Sitharaman’s big announcement, a look at govt’s forex war chest to deal with external shocks
India Forex Reserve FY 2023-24 | Finance Minister Nirmala Sitharaman is set to present her seventh Budget in July 2024 amid robust economic indicators, including India's substantial foreign exchange reserves of nearly $654 billion. The Modi 3.0 government's first full budget comes amidst high capital inflows and resilient forex management, underscoring economic resilience and strategic fiscal planning
Sattva Group targets 85 pc growth in housing sales to Rs 6,500 cr this fiscal: MD Bijay Agarwal
Realty firm Sattva Group is bullish on India's housing market and will launch many projects to achieve 85 per cent growth in sales of residential properties to around Rs 6,500 crore this fiscal, a top company official said. In the 2023-24, Bengaluru-based Sattva Group achieved sales bookings of Rs 3,500 crore.
Ola working on solid-state batteries, okay with govt tapering off EV subsidies
Ola Electric, led by Bhavish Aggarwal, revolutionizes electric vehicle batteries with cutting-edge technology. Partnering with Beijing Welion New Energy, they achieve a 1000 km range with innovative battery-swapping services. The industry anticipates electric aircraft powered by these advancements, cementing Ola Electric as a pioneering force in the EV sector.
MEA rejects US report on religious freedom as 'deeply biased, motivated by votebank considerations'
MEA Spokesperson Randhir Jaiswal addressed the media, stating, "We have noted the release of the US State Department’s report on international religious freedom for 2023. As in the past, the report is deeply biased, lacks an understanding of India's social fabric, and is visibly driven by vote bank considerations and a prescriptive outlook. We, therefore, reject it."
Ujjivan SFB to work on key focus areas
The SFB entered new states in FY24, which is expected to support the loan book growth in the medium term. The analysts have trimmed the earnings expectations citing possibility of higher loan loss provisioning over the next two years.
Amazon Pay India top up; GST summons for egaming firms
Amazon has pumped Rs 600 crore in its local fintech unit Amazon Pay India. This and more today’s ETtech Top 5.
India pharma units fare better in US checks in 2023
The drug regulator United States Food and Drug Administration (USFDA) has classified 13%, or 19 out of 145 inspections it carried out against Indian facilities, as Official Action Indication (OAI) in 2023, which is lower than the global average of 15% OAIs, according to a report by Indian Pharmaceutical Alliance and McKinsey & Company said.
Telecom Act 2023 based on principles of inclusion, growth, responsiveness for developed India
The Telecommunications Act, 2023, effective from June 26, emphasizes inclusion, security, growth, and responsiveness for a developed India, enabling government control for national interests, research and development funding, and fair infrastructure access for network expansion.
In search of 'decent work'
Former RBI Dy Guv Mohan said India could not break out of lower-income levels without massive employment in low-wage manufacturing. Lack of 'decent jobs' was so acute that Uttar Pradesh had 4 mn applicants for 60,000 constable jobs. India's labour force participation was barely 50% against 78% for Vietnam, 76% for China, and 65% for Indonesia. This underemployed mass could not be employed fully in services. So, it was essential to boost manufactured exports - that alone would produce enough 'decent jobs'.
Cambodia-India Tourism Year launched in New Delhi
The first Cambodia-India Tourism Year was inaugurated in New Delhi, marking the commencement of the inaugural direct flight service by Cambodia Angkor Air between Phnom Penh and New Delhi. The event, officiated by Manisha Saxena, emphasized the significance of the initiative for boosting tourism between the two countries.
9 nuclear-armed nations including India continued to modernise N-arsenals in 2023: SIPRI
The Stockholm International Peace Research Institute (SIPRI) reported that nine nuclear-armed nations, including the US, Russia, France, China, India, and Pakistan, continued to modernize their nuclear arsenals in 2023. China notably increased its nuclear arsenal from 410 to 500 warheads and is expected to continue growing. The report highlighted that around 2,100 deployed warheads were on high operational alert, primarily held by Russia and the US, with China joining for the first time.
SOPs for faster sanction of loans, insurance in works
The Centre is collaborating with financial institutions to create a common application form and SOPs for faster sanction of financial services like loan disbursals and insurance under key schemes.
Labour Codes: Secy to meet officials to take stock of state rules
The BJP-led NDA government is preparing to implement the four labour codes and will hold a meeting on June 20 with state labour secretaries and commissioners to review state rules. The aim is to align state rules with the Centre's model rules to ensure uniformity. Labour reforms are part of the government's 100-day agenda to enhance ease of doing business and attract investments. The government consolidated 29 central labour laws into four codes, with most states having framed rules across these codes.
H-1B visa holders who moved to Canada on special work permits can now sponsor dependents
Family members of H-1B visa holders can apply for TRVs and study permits through the IRCC Portal. The Canadian government launched a new work permit program for US H-1B visa holders in 2023, offering opportunities for work and potential residency. The initiative saw overwhelming interest, with all 10,000 permits quickly claimed.
Setting up shop for turbo policy
India's economic growth of 8.2% in 2023-24 surpasses historical hurdles, reflecting policy continuity's impact on performance.
Xi Jinping says China wants to work with Arab states to resolve hot spot issues
Chinese President Xi Jinping expressed China's commitment to collaborating with Arab nations to address regional conflicts while upholding fairness, justice, and promoting long-term peace. Emphasising the importance of a "two-state solution" in the Gaza crisis, Xi urged for mutual respect, fairness, and justice as the foundation for lasting security. China pledged humanitarian aid and support for post-war reconstruction in Gaza.
Lecturing India on human rights would not work; conversation will: Indian-American lawmakers
Indian-American lawmakers, including Congressman Ro Khanna, Shri Thanedar, Pramila Jayapal, and Dr Ami Bera, have emphasized the importance of having a conversation with India's leadership to raise concerns about human rights. Khanna argued that lecturing India on the issue of human rights is not productive and that a Trump presidency is not the same as Prime Minister Modi being in power. He also emphasized the need for a vibrant democracy with freedom of speech, press, and the ability to push back.
Gold loan market thriving in Indian states; Unimoni eyes Rs 1,000 crore loan book by FY25
Unimoni Financial Services CEO Krishnan R highlighted that states like Kerala, Telangana, Tamil Nadu, Bihar, Maharashtra, and Punjab are actively participating in the gold loan market. While farmers constitute a significant portion of their clientele, individuals, small businesses, and micro enterprises are increasingly turning to gold loans for various needs like education, weddings, and medical expenses. The surge in gold prices enhances lenders' security, allowing them to maintain favorable loan-to-value ratios.
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