Unemployment Rate Spiked To Record 27.1% In April: Think-Tank CMIE
- Withdrawal of the coronavirus-triggered lockdown - the third phase of which ends on May 17 - is expected to yield quick results on the livelihood front, according to the CMIE.
- The CMIE Unemployment Survey was started in 2016, and since then, it has been a proxy for evaluating the state of labour market in the country. The labour force consists of all employed persons, persons who are unemployed and are actively looking for jobs.
- The survey has a sample size of 43,600 households per month, well-distributed geographically across urban and rural areas.
- Many economists have already lowered their projections, with some even warning about the possibility of a recession due to the COVID-19 disease-induced lockdown. The country's economy was suffering from a prolonged period of slow growth even before the lockdown, which began on March 25.
- Many ratings groups have estimated a much worse situation for the economy due to the fallout from the coronavirus outbreak.
- Fitch Ratings has said India's GDP may expand 2 per cent in financial year 2021 - the slowest pace since the liberisation of the economy 30 years ago.
- Moody's has cut its forecast for the country's GDP expansion to 0.2 per cent in 2020, marking a sharp downward revision compared to its projection of 2.5 per cent in the previous month.
- The country had tallied more than 40,000 new Covid-19 cases and 1,500 deaths as of Tuesday morning.
- In March, the government unveiled a Rs 1.7 lakh crore package of free food grains and cash transfers to the poor to aid their fight against the pandemic.
- The central bank also announced several steps to ease the pressure faced by borrowers, lenders and other entities, including mutual funds. It has injected funds amounting to 3.2 per cent of GDP into the economy since the February 2020 monetary policy meeting in order to tackle the liquidity situation arising from the Covid-19 induced lockdown.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
