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Industry body <keyword id="166814" type="COMPANY" weightage="20" keywordseo="Indian-Chamber-of-Commerce">Indian Chamber of Commerce</keyword> (ICC) on Friday demanded higher <keyword id="118132" type="PERSON" weightage="20" keywordseo="Interest-subvention">interest subvention</keyword> for micro, small and medium enterprises (MSMEs) on loans to boost employment generation in the country. The city-headquartered chamber in its budget demand also called for simplification of personal taxation by lowering tax rates for greater compliance. "The two per cent interest subvention scheme on loans has truly supported Indian MSMEs. We would like to propose that the scheme be further extended with enhanced coverage. We request the government to consider 3-4 per cent interest subvention to the extent of ₹3 crore against the earlier ₹1 crore," ICC president <keyword id="32299" type="COMPANY" weightage="20" keywordseo="Vikas-Agarwal">Vikas Agarwal</keyword> said. Since a key agenda of the interest subvention scheme for these enterprises is to get them on-board the GST network, the relaxation will help them come under the ambit of the indirect tax regime, he said. Speaking about individual tax, ICC also said it is necessary to reduce the personal tax rates for individuals so that there is a degree of equity and fairness in relation to structuring decisions. Dividend tax should also be capped at 15 per cent down from 20 per cent for resident assesses as well, Agarwal said. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/india-may-be-considering-a-covid-cess-on-high-income-earners-aside-from-more-levy-on-fuel/articleshow/80208520.cms">India may be considering a COVID cess on high income earners — aside from more levy on fuel</a>

ICC demands higher interest subvention on loans for MSMEs to boost employment generation

Patna, Feb 1 () Bihar Deputy Chief Minister Sushil Kumar Modi on Saturday said the Union Budget 2020-21 will not only help in generating employment opportunities and income but will also be able to tackle recession in a better way.
After incorporating the 15th Finance Commission's recommendations in this year's budget, Bihar's share in central taxes has increased by 0.396 per cent from 9.665 per cent in 2019-20 to 10.061 per cent in 2020-21, said Modi, who also holds finance and commercial taxes portfolios in Bihar's NDA government. 
With this, the state's share in central taxes has increased by Rs 15,000 crore from Rs 63,406 crore in 2019-20 to Rs 78,896 crore in 2020-21, he said.
The simplification of income tax slabs, besides several proposals with regard to small and medium sector enterprises and agriculture sector have been made in this year's budget, he said, adding that these measures would create employment opportunities, enhance people's income and give more money into people's hands to save and consume which would help in tackling the recession in a better way. 
A host of opposition leaders, including RJD's Tejashwi Yadav, RLSP chief Upendra Kushwaha, former Bihar chief minister and HAM (S) president Jitan Ram Manjhi criticised the Centre's budget, presented by Finance Minister Nirmala Sitharaman, asserting that it did not contain anything for Bihar. AR KJ

Union Budget to generate employment, tackle recession: Sushil Modi

<ul class="summary-list"><li>Americans are still leaving their jobs, with 4.4 million people quitting in April alone.</li><li>Gen Zers have benefited the most in the <keyword id="12122646" type="UNKNOWN" weightage="60" keywordseo="great-resignation" source="Orion">Great Resignation</keyword>, per LinkedIn and Bank of America data. </li></ul>Gen Zers are winning the <a href="https://www.businessinsider.com/americans-quit-at-near-record-rate-great-resignation-forever-resignation-2022-6">Great Resignation</a>.They're the generation more likely to switch jobs and are landing the biggest pay increases when they do, according to a <a href="https://business.bofa.com/content/dam/flagship/bank-of-america-institute/economic-insights/who-is-benefiting-from-the-us-labor-market-may-2022.pdf">report</a> from the Bank of America Institute and data from LinkedIn provided to Insider.And even more young professionals are thinking about handing in their resignation letters in the next two years, based on a global survey from <a href="https://www2.deloitte.com/content/dam/Deloitte/at/Documents/human-capital/at-gen-z-millennial-survey-2022.pdf">Deloitte</a> — although the share who said this is down from last year's result, signaling that the Great Resignation could be slowing a bit after a year of record-high quits.But for now, <keyword id="11974765" type="UNKNOWN" weightage="60" keywordseo="gen-z" source="Orion">Gen Z</keyword> is taking advantage of the labor shortage and their flexible position in life to find the right job for the right money.<h2>Gen Zers who are changing jobs are taking home more pay</h2>Recent data from LinkedIn, where Gen Z is defined as ages 20 to 24, shared with Insider shows Gen Z job transitions in April 2022 were 29.5% higher than a year earlier. That's roughly 20 percentage points higher than the 9.6% increase millennials saw, according to the LinkedIn data. Gen X job transitions were 8% higher in April 2022 than in April 2021. Bank of America internal data shows a similar story, where roughly a quarter of Gen Z, those up to age 25, have job-hopped over the past six months, the highest share among <keyword id="12030169" type="UNKNOWN" weightage="60" keywordseo="generations" source="Orion">generations</keyword> during this period.Karin Kimbrough, the chief economist at LinkedIn, said in a statement that "it's normal for career starters to be in an experimental phase where they're still figuring out what they want out of a job, and aren't always ready and willing to settle." Jason Dorsey, who researches Gen Z, told <a href="https://ca.finance.yahoo.com/video/gen-z-workers-perfect-time-203804328.html">Yahoo Finance</a> that "it's really a perfect time for them to make that jump." For one, he said the generation "have the least responsibility in terms of family, child, houses, cars, and so forth."The Bank of America Institute report found that "the average pay rise associated with job moves," based on annual pay data from May 2021 to April 2022, is around 17.6%."In other words, and perhaps unsurprisingly, it has paid off to move jobs," the report said.For Gen Zers, this pay increase is 29.7%, the highest percentage among generations, according to Bank of America data. But it's not just young workers switching jobs who are seeing more money in their bank accounts. Internal data of annual pay growth from May 2021 to April 2022 shows that, in general, Gen Zers are seeing higher pay bumps compared to other generations. David Tinsley, the director of the Bank of America Institute, told Insider that Gen Zers' level of education could be related to higher pay."Some of the Gen Z rise will simply reflect that people in this group are embarking on their career journeys from education, which inevitably involves significant pay changes," the Bank of America Institute report said. Millennials are also seeing pay growth above the average of 9.2%. Tinsley said millennials may have in-demand skills that companies want, and it could also be because of "the big rotation away from goods spending into services spending." He said that service industries like travel, entertainment, and leisure tend to hire younger workers.<h2>Young professionals are thinking critically about whether a job actually fits what they want</h2>Regardless of changing jobs, Gen Z are thinking about the jobs out there, the benefits they offer, and the duties they entail."The notion that they are just 'flighty' is a mischaracterization — from what we hear from Gen Z members on LinkedIn, they are thoughtfully evaluating the pros and cons of each opportunity and are willing to leave for a company that better aligns with their values and invests more in skills development and career growth," Kimbrough said. "In this tight labor market we're in, the bargaining power is still tilted in favor of the worker, and Gen Z is well aware of that."According to a <a href="https://www2.deloitte.com/content/dam/Deloitte/at/Documents/human-capital/at-gen-z-millennial-survey-2022.pdf">global Deloitte Gen Z and millennial survey</a>, 37% of Gen Z and 36% of millennials said "they have rejected a job and/or assignment based on their personal ethics." They also won't stick around if they have to head back to office desks. A global survey from <a href="https://www.adpri.org/wp-content/uploads/2022/04/PaW_Global_2022_GLB_US-310322_MA.pdf">ADP Research Institute</a> found that Gen Z is more likely to think about a new job if their company requires them to come back to the office full time."This group is certainly job-hopping at an even higher rate than we might expect, and when we survey LinkedIn members, Gen Z stands out as the group most likely to walk away from a job if it doesn't offer certain benefits like a flexible work policy," Kimbrough told Insider.Deloitte and the Network of Executive Women noted in a recent report that employers are going to need a "different mindset" for hiring and retaining Gen Zers."Employers will need to understand the behaviors and tendencies of a generation that expects much more personalization in how they want to be treated by their employer and is seeking more than just filling cookie-cutter roles," the authors <a href="https://www2.deloitte.com/us/en/pages/consumer-business/articles/understanding-generation-z-in-the-workplace.html">wrote</a>.<h2>Regardless of age, the labor market is hot for job seekers</h2>Tinsley said that despite some signs of cooling, "the labor market for most generations, but particularly the younger age groups, have been white-hot." Businesses have been increasing pay and offering other benefits to find and retain workers. According to the <a href="https://business.bofa.com/content/dam/flagship/bank-of-america-institute/economic-insights/who-is-benefiting-from-the-us-labor-market-may-2022.pdf">Bank of America Institute report</a>, the pay increases may not last, though, and that job changes "may now have peaked."Daniel Zhao, a senior economist at Glassdoor, previously told Insider the labor market situation looks "healthy" for people looking for jobs. But he warned that this isn't permanent. "This is still a labor market that leans towards workers," Zhao <a href="https://www.businessinsider.com/hiring-job-openings-april-jolts-economic-recovery-labor-shortage-data-2022-6">previously said</a>. "There's no guarantee that that will last forever, but generally speaking, what I tell job seekers is that this is a good time to look for a new job and try to lock in those gains while the labor market is still strong."Are you a Gen Zer who has quit or is thinking about quitting your job? Contact this reporter at mhoff@insider.com.

How Gen Z is winning the Great Resignation, from pay increases to better work-life balance

The <a href="http://www.businessinsider.in/searchresult.cms?query=government&amp;sortorder=effectivedate">government</a> is looking forward to a comprehensive employment generation package for millions of youth that enter the market and this might lead to a big announcement in the upcoming <a href="http://www.businessinsider.in/searchresult.cms?query=Union+Budget+2017&amp;sortorder=effectivedate">Union Budget 2017</a> which may include incentives for <a href="http://www.businessinsider.in/searchresult.cms?query=employment+generation&amp;sortorder=effectivedate">employment generation</a> in labour intensive sectors and a target for setting up coastal employment zones that would directly link tax incentives to job creation. 
 
According to the officials, the proposal includes incentives for creating jobs in sectors such as leather, electronics manufacturing, and gems and jewellery, on the lines of sops introduced for textiles last year. 
 
"The government is under pressure to speed up the process of job creation in the country because despite several efforts not many employment opportunities are opening up across sectors,” a senior government official, who did not wish to be identified, told ET. 
 
The official also said that the issue of lack of job generation has been raised by several ministers. 
 
In the current scenario, India adds about 12 million people to the job market every year and more than 65% of its population is below the age of 35, a big demographic advantage for the nation that is aspiring to become the human resource capital of the world. 
 
According to the government's fifth annual employment-unemployment survey released in September 2016, about 77% of the households reported no regular wage earning or salaried person. 
 
To deal with it, the <a href="http://www.businessinsider.in/searchresult.cms?query=labour+ministry&amp;sortorder=effectivedate">labour ministry</a> has proposed that employers across labour intensive sectors be given the option of fixed-term employment, along with waiving their contribution to provident fund and increasing overtime work hours. 
 
"This in turn will push demand in the economy,” an official told ET. This move, if approved will give employers the flexibility to hire workers as per demand for a fixed period of time without compromising on their parity with permanent workers in terms of working hours, wages, allowances and other statutory dues.

Job creation will be key thrust area, sops expected in Budget 2017

Prime Minister Narendra Modi wants to walk the talk and fulfil his commitment of creating more jobs. In lieu of this, employers may get 30% income tax exemption for creating extra jobs. 
 In <keyword id="2783177" type="UNKNOWN" weightage="20" keywordseo="Budget-2016">Budget 2016</keyword>, it is likely that Finance Minister Arun Jaitley will announce an array of incentive for job creator. 
 
ET reported that a panel of secretaries suggested fiscal and monetary incentives, including 30% income tax exemption for units that create an additional 2% jobs. 
 
Also, the employer could be given a 125% rebate on provident fund contributions. 
 
As per the data with labour bureau, only 50% of the population aged 15 years and above is employed. 
 
“The labour ministry has proposed various fiscal and monetary interventions as part of the government's employment-generation strategy and this is likely to find its way in the budget considering that PM Modi had committed to incentivise employment generation in the country," an official told ET.

Employers can expect something great in Budget 2016. Find out what

<ul class="summary-list"><li><keyword id="657946" type="PERSON" weightage="60" keywordseo="Millennials">Millennials</keyword>' employment-to-population ratio has fallen the most of any age group since 2000.</li><li>If the ratio held its 2000 high, 12 million more Americans under 60 would be employed.</li><li>Low <keyword id="6355127" type="UNKNOWN" weightage="60" keywordseo="employment">employment</keyword> for young Americans risks long-term scarring and weak economic growth, the <keyword id="45672" type="ORGANIZATION" weightage="60" keywordseo="Fed">Fed</keyword> said.</li></ul>The Americans who endured the toughest employment hits of the past two decades are also the ones most prone to long-term scarring, according to a <a href="https://www.stlouisfed.org/on-the-economy/2021/march/americans-born-after-1985-bear-brunt-lower-employment?utm_source=twitter&amp;utm_medium=SM&amp;utm_content=stlouisfed&amp;utm_campaign=30bf57c1-318c-4b31-b692-19e0944b9b0a19e0944b9b0a">study</a> from the <keyword id="1529072" type="PERSON" weightage="60" keywordseo="Federal-Reserve-Bank-of-St-Louis">Federal Reserve Bank of St. Louis</keyword>. They're the youth.The coronavirus pandemic fueled labor-market turmoil across nearly all groups. The headline <keyword id="6358907" type="UNKNOWN" weightage="60" keywordseo="unemployment">unemployment</keyword> rate peaked at 14.7% in April and <a href="https://www.businessinsider.com/february-jobs-report-379000-payrolls-unemployment-rate-labor-market-recovery-2021-3">has since fallen to 6.2%</a> as the <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> recovers. But new research from the regional Fed suggested most Americans - particularly millennials - faced lower overall employment before the pandemic began. And when comparing generations' employment levels at different ages, younger Americans are handily underperforming their older counterparts.The employment-to-population ratio for Americans under 60 years old was largely unchanged from 2000 to 2020, despite periods of strong economic growth and a falling unemployment rate. Had the ratio stayed the same over the past two decades, about 12 million more Americans under 60 would be employed, according to the study.Put simply, population growth didn't drive an increase in employment because the share of those employed within that age group declined, William Emmons, the lead economist in supervision at the St. Louis Fed, said.Millennials bore the brunt of the decline, with the employment-to-population ratio for those ages 16 to 24 falling 15.5 percentage points for men and 12.1 points for women since 2000. The ratio fell 10.5 points for men and 3.6 points for women in the 25 to 34 age range.The largest increases in the employment-to-population ratio were experienced by Americans aged 65 and older. The ratio rose 5.2 points for men and 5.3 points for women over the past 20 years, according to the study. The data signaled that, at least for the past 20 years, Americans at or beyond the typical retirement age made some of the greatest labor-market gains. While the reasons for this are unclear, <a href="https://www.businessinsider.com/what-caused-the-millennial-boomer-generational-wealth-gap-deutsche-bank-2020-11">Insider's Hillary Hoffower previously reported</a> on the generational wealth gap, which equates to millennials holding four times less wealth than boomers did at the same age.The stagnant employment-to-population ratios for younger Americans are particularly concerning, Emmons said. Time spent outside the labor force can increase risks of future unemployment and even weaken Americans' earning potential when they're looking for work. This scarring effect is more consequential for younger people since they have less work experience to point to when searching for employment.<h2>Millennials weathered tougher conditions well before COVID-19</h2>It's not just lower employment that's holding millennials back. The cohort risks <a href="https://www.businessinsider.com/1980s-millennials-wealth-the-great-recession-2018-5">accumulating less wealth than past generations</a>, with rising home costs, higher debts, and harsh recessions all cutting into the group's economic prospects.Millennials born in the 1980s are at a greater risk than other age groups of becoming a "<a href="https://www.stlouisfed.org/~/media/Files/PDFs/HFS/essays/HFS_essay_2_2018.pdf?la=en">lost generation</a>" for wealth accumulation, the St. Louis Fed said in a 2018 report. The financial crisis saw the group withstand larger drops in overall wealth than older generations. And as <keyword id="31671" type="CITY" weightage="60" keywordseo="markets">markets</keyword> rebounded from 2010 to 2016, older millennials still lost ground when other generations' wealth bounced back."The fact that many families suffered large wealth setbacks during their prime earning and wealth-accumulation years raises the question of whether they will be able to rebuild their wealth to meet major saving goals, including for a home purchase, college tuition for their children and retirement," Fed researchers said in the 2018 study.The central bank highlighted similar concerns in its March study of generational employment. Weak employment earlier in life can affect future labor-force prospects and even hinder economic growth, Emmons said.<div type="image" title="St. Louis Fed" height="1021" width="1362" msid="81637043" hostid="261"></div>Looking to older generations' employment ratios over time shows younger Americans struggling to keep up in job attainment. Americans born after 1981 have consistently achieved ratios well below those older cohorts had at the same age.Young men faced larger shortfalls when compared with their older counterparts, according to the Fed. Women had smaller disparities across age groups, though their employment-to-population ratios typically landed below those achieved by men.The 12 million "missing" workers under 60 were also disproportionately young adults. Americans born after 1985 counted for about two-thirds of missing employment over the past two decades, Emmons said. Men born after 1985 experienced the most uneven effects. While the cohort counted for 22% of the population ages 16 to 59 in 2020, it counted for about 43% of missing workers.

COVID-19 dealt millennials the biggest employment hit of the past 20 years - and younger Americans were already at risk of becoming a 'lost generation'

The pre-budget <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords" meta.keywordsubtype="org" meta.entityname="Economic Survey" meta.hostid="261" meta.entityid="Economic Survey">Economic Survey</keyword> on Monday called for urgent reforms in India's <keyword id="19915424" type="General" weightage="20" keywordseo="agricultural-sector" source="keywords">agricultural sector</keyword>, warning that the structural issues could impede the country's overall <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> trajectory. The survey, tabled in Parliament by Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword>, highlighted the untapped potential of the <keyword id="20682012" type="General" weightage="20" keywordseo="Indian-agriculture" source="keywords">Indian agriculture</keyword> sector compared to other economies. Chief Economic Advisor V Anantha Nageswaran called for a pan-India dialogue on the agriculture sector. The survey, presented ahead of the annual budget, emphasised that India has yet to fully leverage its agricultural sector for economic growth and job creation, unlike East Asian economies and Western developed nations. "Indian agriculture is not in a crisis now but requires a serious <keyword id="20544318" type="General" weightage="20" keywordseo="structural-transformation" source="keywords">structural transformation</keyword> because climate change and water criticality loom large in the times to come," the survey stated. The CEA advocated for a reassessment of existing policies, despite current government subsidies and support measures for farmers. "The payoff will be immense if we untie the knots that bedevil farm sector policies," Nageswaran said in the survey's preface. While the government provides substantial support to farmers through subsidies on water, electricity, and fertilizers, along with income tax exemptions and minimum support prices, there is room for improvement in policy implementation, he added. The survey identified several key challenges, including balancing growth with food inflation management, improving price discovery, and addressing land fragmentation. To address these challenges, the survey recommends multi-pronged reforms, which include: upgrading agricultural technology, enhancing marketing avenues, adopting farming innovations, reducing input wastage, and improving the agriculture-industry linkages. The document stressed the need to shift focus from basic <keyword id="19992806" type="General" weightage="20" keywordseo="food-security" source="keywords">food security</keyword> to nutritional security, aligning with a 'demand-driven food system' that is both nutritious and environmentally sustainable. The survey suggested that policymakers must strike a delicate balance between incentivizing farmers to increase production and keeping food prices within acceptable limits. "This dual objective requires careful policy interventions." The survey also emphasized the need for a farmer-friendly policy framework to ensure markets function in farmers' interests. It recommended avoiding bans on futures or options markets at the first sign of price spikes; invoking bans only under exceptional circumstances; re-examining the inflation-targeting framework; increasing the total net irrigated area, and aligning farming practices with <keyword id="22505922" type="General" weightage="20" keywordseo="climate-considerations" source="keywords">climate considerations</keyword>. Looking ahead to 2047, the survey highlighted the potential of agriculture and allied sectors (horticulture, livestock, fisheries, dairy, and food processing) for sustained <keyword id="20268655" type="General" weightage="20" keywordseo="employment-generation" source="keywords">employment generation</keyword>. "To sustain growth for nearly a generation up to 2047 or more and to ensure that it makes people's lives better and fulfills their aspirations, bottom-up reforms are necessary," it noted. It suggested that India may need to reconsider the traditional development model of transitioning from agriculture to industry and services.

Economic Survey calls for urgent agricultural reforms; cites growth hurdles

<ul class="summary-list"><li>Employers are prioritizing entry-level workers with generative AI skills.</li><li>Job descriptions mentioning generative AI have tripled on Handshake's portal over the past year.</li></ul>There was a time when you needed <a target="_blank" href="https://www.businessinsider.com/insider-resume-toolkit-careers-job-search-applications-cv-advice#:~:text=You%20want%20your%20r%C3%A9sum%C3%A9%20to,on%20the%20job%20you%20want.">a polished résumé</a>, stellar interview skills, and a long list of contacts to land a job straight out of college. Now, you might only need to know how to prompt a chatbot.Employers are prioritizing entry-level workers with generative AI skills amid rapid advances in the technology. On the <a target="_blank" href="https://www.businessinsider.com/summer-internship-competition-handshake-2024-6">student job and internship portal Handshake</a>, the number of job descriptions that mention generative AI tools has more than tripled over the past year.According to a recent <a target="_blank" class="" href="https://affiliate.insider.com?h=1276ca41485b68659b6ade9ae14b644ef6e852268612e9f2de3850b3950d0ef2&amp;postID=667de32a85b49b35b2844db7&amp;postSlug=jobs-entry-level-workers-seeking-generative-ai-skills-2024-6&amp;site=bi&amp;u=https%3A%2F%2Fwww.microsoft.com%2Fen-us%2Fworklab%2Fwork-trend-index%2Fai-at-work-is-here-now-comes-the-hard-part">survey from Microsoft</a>, 71% of business leaders said they were more willing to hire a less experienced candidate with AI skills than a more experienced candidate without them. About 77% of leaders said AI will help early career workers take on more responsibilities.Yet students don't see AI as a ticket to full-time employment. According to Handshake's data, most students are still using the technology for personal tasks or fun. One recent graduate told Handshake they were "hesitant to use generative AI because it doesn't seem 'officially' accepted or commonplace yet, and I would feel lazy and guilty for using it to do work for me."The corporate world, however, is <a target="_blank" href="https://www.businessinsider.com/ai-tackling-jobs-humans-dont-have-time-for-or-want-2024-2#:~:text=An%20AI%20bot%20could%20act%20as%20your%20intern.&amp;text=Generative%20AI%20tools%20often%20still,with%20that%2C%20she%20saves%20time.">rushing to use AI</a> in part because it can take on the tasks no one else wants to do. So it's up to schools to help students embrace the technology, Valerie Capers Workman, the chief talent officer at Handshake, told Business Insider. "I believe that in three years, every role will require tech skills, regardless of the field," she said. "So it's more critical than ever that institutions and employers support upskilling and provide training opportunities."

Employers want students with generative AI skills for work, but students just want to use it for fun

New Delhi, Feb 12 () The government is targeting khadi and village industries to boost job creation in the rural and tribal areas and improve purchasing power of people, Union Minister Nitin Gadkari has said. "Our focus is on village industries including honey, kulhads, bamboo, fishing, bio-fuels towards employment generation in the agriculture, rural and tribal sectors and to enhance their purchasing power through favourable policies," Gadkari told . The minister for MSME and Road Transport &amp; Highways shared that a special emphasis is being accorded to 115 aspirant districts across the country to achieve these objectives. Gadkari said he foresees a huge demand for honey going forward, with growing health awareness among the masses and an untapped potential market for products like honey sachets, biscuits and chocolates, which can be leveraged to generate employment. The khadi, village and coir industries come under the MSME ministry helmed by Gadkari. RSN MKJ

Govt focussing on khadi, village industries to boost job creation: Gadkari

New Delhi, Feb 1 () The government of Saturday said that a national logistics policy will be released soon which will set up a single window e-logistics market and focus on employment generation and making MSMEs competitive.
"National logistics policy will soon be released," Finance Minister Nirmala Sitharaman said while presenting the Budget for 2020-21.
Explaining further, she said the proposed policy will clarify the role of the Centre, states and also key regulators.
"It will also create single window e-logistics market and focus on generation of employment, MSMEs (Micro, Small and Medium Enterprises) competitive," she said.
The government has been striving hard to bring down logistics cost for global competitiveness.
The cost of logistics for India is about 14 per cent of its GDP and it is far higher as compared to other countries. There is a target to reduce it to 9 per cent in the coming years. SID MKJ

National logistics policy to be released soon: FM

The revision in income tax rates will increase the purchasing power of the middle class sections of the society and thus, push the economic growth of the country in the long run, Kolkata-headquartered <keyword id="2240511" type="General" weightage="100" keywordseo="bandhan-bank" source="Orion">Bandhan Bank</keyword>'s founder, Managing Director and Chief Executive <keyword id="2584765" type="General" weightage="80" keywordseo="chandra-sekhar-ghosh" source="Orion">Chandra Sekhar Ghosh</keyword> said. According to him, the increase in the purchasing capability of the middle class will push the demands of the products and this will positively impact the economy of the nation. "Of course there is an expression of shooting up of the inflation slightly because of this increase in the purchasing capacity of the middle class. However, considering the multiple positive aspects of the tax rate revision, in my opinion, that threat will not impact the economy in a major way," <keyword id="4757" type="General" weightage="80" keywordseo="ghosh" source="Orion">Ghosh</keyword> said. He also said that the income tax exemption will also indirectly help the banking sector on the deposits side. "Excess money in hand will prompt people to go for additional savings and this will improve the deposit side of the banks which is in a difficult shape now," the Bandhan Bank MD &amp; CEO said. He was especially enthusiastic about the new "Mahila Samman Saving Certificate", that will allow women a maximum deposit of up to Rs 2,00,000 having a maximum interest of 7.5 per cent for two years till March 2025. "This will definitely drive women towards savings and in my opinion this scheme is extremely innovative," he said. He also pointed out that Fiance Minister <keyword id="129243" type="General" weightage="80" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword>, in her budget speech, stressed on infrastructure development as well as development of the MSME and start-up sectors. "This is a positive step towards employment generation, since whenever there is infrastructure development there is opportunity for employment generation. Similarly, MSME and start-up sectors generate employment and these two sectors have been addressed well in the budget speech," Ghosh added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-zooms-as-finance-minister-delivers-tax-bonanza-to-middle-class/articleshow/97510050.cms">Sensex zooms 1,180 points as FM delivers tax bonanza to middle-class</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/government-to-set-up-three-centres-of-excellence-in-artificial-intelligence/articleshow/97520242.cms">Budget 2023 gives a boost to artificial intelligence – government to set up three centers of excellence</a>

Tax rate revision will increase purchasing power of middle class: Bandhan Bank CEO

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.flickr.com/photos/strelka/43626682281/in/album-72157697793247581/">Kirill Kolchanov/Strelka Institute/Flickr</a>Work-from-home is a given. Retirement benefits, maybe not.</div></div></div><ul class="summary-list"><li>Labeled by Gallup as "the job-hopping generation," <a href="https://www.businessinsider.com/category/millennials">millennials</a> generally don't plan on staying with their employer for more than a few years.</li><li><a href="https://www.businessinsider.com/category/gen-z">Gen Zs</a>, the generational cohort born after 1997, will likely be just as restless. </li><li>Glassdoor chief economist Dr. Andrew Chamberlain said younger workers feel comfortable asking for perks that older generations may not have.</li><li>However, 20-something workers also tend to have low opinions of their employers.</li></ul>Millennials have been dubbed <a href="https://www.gallup.com/workplace/236474/millennials-job-hopping-generation.aspx">"the job-hopping generation."</a> And it looks like Generation Zs, who were born after 1997, are poised to be just as restless.Glassdoor chief economist Dr. <a href="https://www.glassdoor.com/research/author/andrew/">Andrew </a><a href="https://www.glassdoor.com/research/author/andrew/">Chamberlain</a> told Business Insider that younger millennials and Gen Zs across the board are demanding perks and benefits that older generations may not have felt bold enough to ask for - particularly more paid time off and work-from-home options."There are a lot of young millennial and Gen Z workers who have definitely never been through a recession," Chamberlain said. "They started working since the end of the last recession. I think today priorities are changing in that people are becoming more choosy."Workers who entered the job market in the mid-2010s have only experienced a remarkably strong job market. In October, unemployment reached the lowest levels <a href="https://www.businessinsider.com/us-jobs-report-unemployment-rate-and-wage-growth-september-2018-2018-10">since 1969</a>. That's pushed employers to resort to everything from creating job titles like <a href="https://www.businessinsider.com/unusual-job-titles-companies-hiring-millennials-2018-11?r=UK&amp;IR=T">"time ninja"</a> to hiring candidates from <a href="https://www.businessinsider.com/phone-interview-one-sided-automated-voicemail-job-hiring-2018-11">automated phone calls</a> to fill their many job openings."It's the strongest job market in a generation," Chamberlain said. "There are seven million unfilled jobs in the US and companies are falling over themselves to hire certain kinds of talent."Read more: <a href="https://www.businessinsider.com/goat-savage-lit-dope-bae-teens-gen-z-slang-words-2018-6">Teens say they cringe when brands use these 11 outdated slang words - here's what Gen Z is saying instead</a>Despite the fact that they've entered an incredibly robust job market, most 20-something workers don't feel a sense of loyalty to their employers. According to <a href="https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-2018-millennial-survey-report.pdf">the 2018 Deloitte Millennial Survey</a>, 43% of millennials and 61% of Gen Zs plan to leave their company in two years. Just 28% of millennials and 12% of Gen Zs say they'll stay beyond five years.And while Chamberlain said younger workers are comfortable demanding benefits like paid time off or work-from-home, they don't believe that their employers want to provide the essentials, like a pension plan. As Business Insider's Shana Lebowitz <a href="https://www.businessinsider.com/good-jobs-today-not-just-money-2018-12">recently wrote</a>:"Results from a Business Insider survey of 1,000 in early December suggest that today's young workers aren't operating under any delusions about how much security their employers can provide them. Respondents ages 18 to 29 were 19 percentage points less likely than the average respondent to say a pension is essential to a good job. Respondents over 60, on the other hand, were 13 percentage points more likely."The result is an interesting paradox among the workforce's newest members - they expect to find a job quickly and easily, and feel comfortable asking to work from home in their PJs, but aren't so certain that their employer will invest in their future. This story was originally published by <a href="http://www.glassdoor.com/" target="_blank">Glassdoor.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/youngest-female-broker-diversity-new-york-stock-exchange-nyse-2018-11">Meet the 24-year-old who's the youngest female broker in the New York Stock Exchange</a></h3> <div> </div> </div>

Most millennials and Gen Zs have never experienced a recession during their careers, and an economist says it's changing the way people act at work

GettyApple was one of the top-ranked employers for diversity and inclusion, according to Universum's survey of business students around the world.<ul class="summary-list"><li>Diversity and inclusion is an increasingly important driver of business success.</li><li>Employer branding specialist <a href="https://universumglobal.com/">Universum</a> just released a Diversity and Inclusion index based on a survey of tens of thousands of college students around the world, asking what the next generation of talent is looking for from their future employers.</li><li>Big tech companies and consumer goods are widely viewed by business students as being champions of diversity and inclusion.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Diversity and inclusion is an increasingly important driver of business success, and the world's top companies are competing to attract talent from a wide array of backgrounds.And initiatives to push for a more open and inclusive workplace could be particularly important to Gen Z, <a href="https://www.npr.org/2018/11/15/668106376/generation-z-is-the-most-racially-and-ethnically-diverse-yet">the most diverse generation in history</a>. Gen Z students who identify as <a href="https://www.businessinsider.com/what-gay-college-students-want-from-future-employers-2019-6">LGBT</a> and <a href="https://www.businessinsider.com/what-hispanic-latinx-students-want-from-future-employers">Latino</a> in particular have prioritized a commitment to diversity and inclusion as an important feature of their ideal future employers. Employer branding specialist <a href="https://universumglobal.com/">Universum</a> annually surveys tens of thousands of college students around the world to determine what the next generation of talent is looking for from their future employers. The survey asks respondents about which companies or organizations they view as ideal places to work, and asks them to evaluate those companies across a wide range of 40 workplace attributes.Universum has now constructed a Diversity and Inclusion index based on the survey results for three of those attributes: support for gender equality, commitment to diversity and inclusion, and respect for the company's people. The index is calculated for companies ranked on Universum's <a href="https://universumglobal.com/blog/worlds-most-attractive-employers-2019/">World's Most Attractive Employers</a> list, and gives a sense of which major companies and organizations are viewed as welcoming and inclusive workplaces.Here are the 50 best companies for diversity and inclusion, based on Universum's survey responses from business students:

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Tax rate revision will increase purchasing power of middle class: Bandhan Bank CEO

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Most millennials and Gen Zs have never experienced a recession during their careers, and an economist says it's changing the way people act at work

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