Donald Trump is returning, and the US economy is in for a wild ride.Trump has promised an escalation of tariffs on all US imports and the biggest mass deportation of migrants in history. He also wants a say in Federal Reserve policy. Many economists reckon the platform adds up to higher inflation and slower growth…
NEW DELHI: India needs to create 10 million jobs annually to maintain an average 6.5% gross value-added growth, investment bank Goldman Sachs has estimated and suggested three policy focus areas to raise the country’s employment rate.The suggested three areas of focus include incentivising ‘affordable social housing’ development in the construction sector, diversifying locations of IT…
Union finance minister Nirmala Sitharaman on Tuesday announced 3 new schemes to boost employment through the employees’ provident fund organisation (EFPO), focusing on recognition of first-time employees, and support to employees and employers. Giving details about the schemes, Sitharaman said, “Our government will implement 3 schemes for ‘Employment Linked Incentive’, as part of the Prime…
NEW DELHI: Five years ago, when Nirmala Sitharaman took over as finance minister, she appeared uncertain amid criticism of waning growth, resulting in a series of post-Budget announcements, including a massive cut in corporate tax. As she presents a record seventh straight budget, the Modi’s govt’s economic report card presented an economy which is on…
Sivaramakrishnan Ganapathi, MD, Gokaldas Exports, says this year on the low base of last year, there is a growth. Also, the retail-led demand continues to pull up the sector and there is also a move from Western companies to source more from India and that is getting more pronounced when the demand is coming back,…
Leather and footwear exporters body CLE on Tuesday sought an extension of the Production-linked Incentive (PLI) scheme for the sector with a view to boost job creation, domestic manufacturing and shipments. In a pre-budget meeting with Finance Minister Nirmala Sitharaman, Council for Leather Exports Chairman Rajendra Kumar Jalan also urged the government to provide import…
ITC chairman and managing director Sanjiv Puri took over as the new CII president during elections. The industry chamber is recommending several measures, including creating more jobs, skilling and generating political consensus on crucial reforms related to land & labour laws and farm & power sector. In an interview with TOI, Puri emphasised the need…
NR Narayana Murthy and S ‘Kris’ Gopalakrishnan, the founder and co-founder of Infosys respectively, have urged the incoming government in New Delhi to implement policies that foster entrepreneurship, leading to job creation, wealth generation, and increased tax revenue. With less than a month remaining before the new government takes charge, they have emphasized the importance…
Apple ecosystem the biggest blue-collar job creator for India! Since the launch of the Production-Linked Incentive (PLI) scheme for smartphones in August 2021, the Apple ecosystem has emerged as a major job creator in India. Directly employing over 150,000 individuals, it stands as the largest blue-collar employer in the country.Government officials and experts told ET…
