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The services sector, barring education, witnessed a near-complete recovery in employment by the December quarter after a significant dip earlier in the year due to the Covid-19 pandemic, the Centre for Monitoring Indian Economy said.
All eyes on FM Nirmala Sitharaman as she presents her third Union Budget
The focus will be on the recovery steps the government will be taking as the economy battles the effects of the COVID-19 pandemic
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Finance Minister Nirmala Sitharaman will present the Union Budget on February 1, an unenviable task as she has her work cut out. The COVID-19 pandemic has affected the economy, and how, since the country s GDP is expected to be in the negative territory in FY 2020-21, according to the Reserve Bank of India.
In May 2020, PM Narendra Modi announced an economic package worth Rs 20 lakh crore, as revealed by the FM, where he also emphasised on the need for India to be
outlookindia.com 2021-01-28T11:25:29+05:30
IT doesn’t bear reiteration for most of us, but a new survey report puts in print the obvious: the employment scene in India is worse than two years back, particularly for the salaried class. Still, the findings are unexpected, given the optimism that the lifting of the lockdown would push things towards normality, as economic activities pick up and jobs are created. It really hasn’t worked out the way it was envisaged, as work from home (WFH) seems to remain in vogue globally, leading to a shift towards flexi or contract jobs.
“The employment scene is quite bad. We did see some improvement in September, when it rose to 398 million. But there has been a steady deterioration, though not worrying, in the last three months, with the number of salaried jobs falling to 389 million in December, which is lower than two years back, when it was 398 million,” says Mahesh Vyas, MD and CEO of Centre for Monitoring Indian Economy (CM
Buoyed By Global Events, India’s Markets Reach Record Highs
Buoyed By Global Events, India’s Markets Reach Record Highs
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KOLKATA, India Led by gains in IT and auto shares, and buoyed by global events, India’s S&P BSE Sensex reached an all-time high of 50,184.01 in early trading on Jan. 20. The Nifty 50 index also hit an all-time high of 14,666.50 points.
At the closing bell, Sensex was down 0.34 percent, and the Nifty 50 fell 0.37 percent.
The top gainers for most of the day were Bajaj Fiserv, up about 4 percent, followed by Bajaj Finance, Reliance Industries, IndusInd Bank and Axis Bank, according to market reports. Nifty Auto was up 2 percent, while Tata Motors gained around 6 percent.