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NEW DELHI – The number of people employed fell to 375.45 million in May from 390.79 million in April, according to the Centre for Monitoring Indian Economy (CMIE). At least 15.33 million Indians lost their jobs in May, erasing gains achieved since July 2020, a situation that may adversely affect consumer spending and economic revival. The number of people employed fell to 375.45 million in May from 390.79 million in April, according to the Centre for Monitoring Indian Economy (CMIE). In April and May, the number of people employed in salaried and non-salaried jobs fell by almost 23 million ...

This shows how the second wave of the pandemic has unleashed its wrath on the rural jobs market. NEW DELHI – Rural India has erased gains made since October when Covid-19 cases had begun to decline to record 2.84 million job losses in April for the salaried class alone. This is expected to impact rural consumption. Salaried people in India’s rural pockets stood at 27.87 million in April, down from 30.72 million in March, and 33.46 million in February, showed monthly data from the Centre for Monitoring Indian Economy (CMIE). Around 5.59 million salaried employees lost their jobs during Apr...

Ranjula Bali Swain, Arup Mitra* Many components within the informal sector share close linkages with the formal sector. In such a situation if the formal sector is growing rapidly it is natural that the informal sector would benefit from the percolation effects. However, in reality the informal sector is characterized in terms of low productivity and meagre earnings, explaining considerable overlaps with poverty and slum-dwelling in cities. Agglomeration economies work and they contribute to productivity growth as a result of which the real wages in the cities tend to be higher compared to th...

A world-wide problem that has posed serious concern is relating to the lack of surge in total factor productivity growth. The countries which are able to sustain high rates of growth or low growth rates at very high levels of per capita income are following the resource intensive path which can have serious repercussions in terms of future availability of resources. Faster economic growth based on total factor productivity growth, on the other hand, implies resource saving approaches being followed. Innovations resulting in technological progress, and better utilisation of the new technology ...

Ask not for deliverance but devotion March 18, 2021, 7:46 AM IST By Arup Mitra Where’s the end to selfless action? Nowhere. Even the creator himself is bound by the chains of his own creation, as Tagore wrote. Experimentation and evolution go on perpetually. Ramakrishna made it clear that the ‘avatar purush’, god incarnate, accepts no mukti because he’s concerned about all, and secondly, he enjoys the devotion of the devotees which he’ll not be able to relish once he accepts mukti. The love that human beings can offer is the most precious for God. As Tagore express...