India Business News: As Covid-19 continues to ravage India, financial professionals across the country are grappling with an increasingly surreal disconnect between the ep
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Notes in circulation go up due to cautionary holding of cash amid COVID-19 pandemic: RBI
The Reserve Bank of India on Thursday said banknotes in circulation witnessed higher than average increase during 2020-21, on account of precautionary holding of cash by people due to the COVID-19 pandemic, and its prolonged continuance. The value and volume of banknotes in circulation increased by 16.8 per cent and 7.2 per cent, respectively, during 2020-21, as against an increase of 14.7 per cent and 6.6 per cent, respectively, witnessed during 2019-20, said the RBI annual report.
India stares at double-digit unemployment rate, 10 million job losses in May: CMIE
India s unemployment in 2020 at worst level in 29 years, shows study
India s unemployment rate sharply rose to 7.11 per cent in 2020 from 5.27 per cent in 2019; the United States and Brazil showed higher unemployment rates in comparison to India
BusinessToday.In | May 28, 2021 | Updated 18:51 IST
India s unemployment rate rose to its highest level since 1991 during 2020 as coronavirus pandemic caused economy to come to a screeching halt, according to a study. The nation saw one of the toughest lockdowns in the world starting March last year as the pandemic claimed numerous lives, with stringent restrictions on mobility and economic activities across the board.
India s unemployment rate sharply rose to 7.11 per cent in 2020 from 5.27 per cent in 2019, said a report by Centre for Economic Data and Analysis (CEDA) based on the ILOSTAT database of International Labour Organisation. Going back, India saw its unemployment rate rise between 2008, when it was 5.36 per cent to 5.65 per
UPDATED: May 28, 2021 18:45 IST
India s unemployment rate is likely to rise sharply in May 2021 due to strict localised lockdowns across most states. (Photo: Reuters/Representational image)
With the second wave of the Covid-19 pandemic far from over in India, states are likely to go slow on the process of unlocking key economic activity. The unemployment rate has surged sharply as a result. The unemployment rate in May is likely to rise further due to increased restrictions on mobility and economic activity.
Mumbai-based think tank Centre for Monitoring Indian Economy (CMIE) recently said that the 30-day moving average employment rate fell by 100 basis points on the week ended May 23. It denotes a loss of 10 million or one crore jobs.