Budget 2018-19

  Unemployment touched 8.6% for the week ending April 11, from 6.7% two weeks ago, showed data by CMIE. A fresh round of provincial lockdowns to curb the record rise in virus infections is leading to job losses in India, according to the latest employment data by a private research firm. Unemployment  touched 8.6% for the week ending April 11, from 6.7% two weeks ago, showed the data by Centre for Monitoring Indian Economy Pvt. Ltd. The hit is more severe in urban areas where it’s nearing 10% as local media shows images of workers fleeing cities fearing harsher curbs like last year. Asia’s third-largest economy is potentially on track to regain the second spot from Brazil after adding a record 168,912 cases in a day, taking the tally to 13.53 million cases. It is facing an escalating health crisis with the second wave overwhelming hospitals and forcing states to restrict activities. While wealthiest Maharashtra, the worst hit by the virus, is contemplating more curbs after ann...

  The pandemic will have a lasting impact on labour markets, a report said on Friday COVID-19 will have a lasting impact on labour markets, and as much as 18 million Indian workers will be forced to switch to a newer occupation by 2030 because of the pandemic, a report said on Friday. The impact will be “disproportionately” felt on low-wage workers in retail, food services, hospitality, and office administration, the report by McKinsey Global Institute, a think-tank, said. The pandemic has disrupted labour markets because companies have been forced to respond to a new dimension of work – physical proximity, an official statement explained. The report identifies the lasting impact of  COVID-19  on labour demand, the mix of occupations, and workforce skills required in eight countries including India. Three broad changes in consumer behavior and business models will persist to varying degrees because of the pandemic which include the rise of remote work, the increased embra...