Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>The Finance Minister may announce a similar scheme as <keyword id="6361863" type="General" weightage="20" keywordseo="MGNREGA" source="Orion">MGNREGA</keyword> for the urban population during the Union Budget 2022-2023 on February 1.</li><li>Last year, in August 2021, a parliamentary standing committee had suggested that the Union government should roll out a similar scheme.</li><li>A total of 6.51 crore people have been given employment under the MGNREGA scheme during the fiscal year 2021-22.</li></ul>This year’s Union Budget, which will be announced on February 1 by the Finance Minister Nirmala Sitharaman, may drop a bomb by announcing an urban version of the Mahatama Gandhi National Rural Employment Guarantee Scheme (MGNREGA). This scheme may help the economy in recovering from the job and income loss during the COVID-19 pandemic in the urban areas of the country. Last year, in August 2021, a <a href="http://webcache.googleusercontent.com/search?q=cache%3Ahttps%3A%2F%2Fwww.livemint.com%2Feconomy%2Fparl-panel-recommends-mgnregs-like-job-scheme-for-urban-poor-11628108280192.html&amp;rlz=1C1GCEU_enIN947IN950&amp;oq=cache%3Ahttps%3A%2F%2Fwww.livemint.com%2Feconomy%2Fparl-panel-recommends-mgnregs-like-job-scheme-for-urban-poor-11628108280192.html&amp;aqs=chrome..69i57j69i58.3291j0j4&amp;sourceid=chrome&amp;ie=UTF-8">parliamentary standing committee</a> had suggested that the Union government should roll out a similar scheme like MGNREGA for urban labourers as well, like what India has for rural job-seekers. Introduced in 2006, MGNREGA, is a government’s employment programme, which gives livelihood security by providing at least one hundred days of guaranteed wage employment in every financial year to every rural household whose adult members volunteer to do unskilled manual work. <div type="image" title="MGNREGA budget over the last five years" msid="89199939" hostid="261"></div> The Union Budget 2021-22 allocated ₹73,000 crore for the MGNREGA, which was an increase by ₹11,500 crore as compared to 2020-21. A total 6.51 crore people have been given employment under this MGNREGA scheme during the fiscal year 2021-22. <div type="image" title="Unemployment Rate in India" msid="89200451" hostid="261"></div> “ The consequential effects on loss of jobs, rising unemployment, indebtedness, nutrition, health and education of unorganised workers and their family members have the potential to cast a long shadow and cause irreparable damage,” said Bhartruhari Mahtab, head of the standing committee on labour and a member of parliament (MP) from Biju Janata Dal, in a report submitted to the parliament. According to Betterplace estimates <a href="https://economictimes.indiatimes.com/news/economy/indicators/they-have-not-returned-how-covid-19-has-impacted-labour-migration-in-the-country/articleshow/86513113.cms?from=mdr">cited</a> by the Economic Times, around 150 million labourers moved back from urban cities to their rural villages during the first wave of the COVID-19 pandemic, in 2020. The committee further said, “The committee’s attention has been drawn to the fact that unlike employment generation programmes in rural areas, the plight of urban poor has not got much attention from the government… There is an imperative need for putting in place an employment guarantee programme for the urban workforce in line with MGNREGA”. Experts believe that an urban jobs scheme will definitely help tide over such a situation. “We have seen MGNREGA creating huge positive impact on rural employment and infrastructure…there is no <keyword id="13057761" type="General" weightage="20" keywordseo="Urban-MGNREGA" source="Orion">urban MGNREGA</keyword>…can we create [an] urban MGNREGA [like] solution so that urban unemployment gets reduced and the consumption starts improving,” Nilesh Shah, the managing director and chief executive officer (CEO) of Kotak Mahindra Mutual Fund told Business Insider. He further said, “Creating urban MGNREGA is one solution, but the real solution is creating opportunities for people.” <div type="image" title="Decline in Salaries Jobs" msid="89200496" hostid="261"></div> Now, the question arises, how is it possible to bring out the job guarantee schemes for urban workers? Answering that question, Mahesh Vyas, CEO of Centre for Monitoring Indian Economy (CMIE) <a href="https://www.youtube.com/watch?v=axFAUAFwpUs">highlighted</a> that there is a manpower crunch at various public places like healthcare centres, schools, security, judiciary and so on. Under this urban employment scheme, people can be given jobs at these public places, which can surely fill the supply and demand gap. He said,“ When we ask, are there enough people manning public schools, healthcare centres or enough people in the government offices to serve you when you need services?…. The answer will systematically be no but actually there are not enough people to serve us in urban cities. To fix that let’s have an urban employment scheme to ensure that the government is there when we need them.” SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/heres-why-there-is-less-adoption-of-the-new-tax-regime-and-how-budget-2022-can-make-it-more-attractive/articleshow/89195776.cms">Here’s why there is less adoption of the new tax regime and how budget 2022 can make it more attractive</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-kotak-mahindra-mutual-funds-ceo-explains-why-real-estate-housing-and-textiles-should-get-boost/articleshow/89194327.cms">A market guru explains why real estate, housing and textiles should get some budget boost</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/from-tax-structure-rationalisation-to-expanding-ev-charging-infrastructure-heres-what-the-industry-wants-from-budget-2022/articleshow/89162814.cms">From tax structure rationalisation to expanding EV charging infrastructure, here’s what the industry wants from Budget 2022</a>

Budget 2022 expectation: Why India needs an urban MGNREGA

<ul><li>The Indian smartphone industry expects fewer or no increase in component duties for smartphones.</li><li>A 2.5 per cent customs duty on imports of electronics along with other factors led to an increase in smartphone prices.</li><li>For homegrown brands in particular, a separate budget to help bring more Indian smartphone brands is expected.</li></ul>In the 2021 Union Budget, a 2.5 per cent customs duty was imposed on the import of electronics. This was in line with the Indian government’s larger plan to boost local manufacturing of electronics. Higher duties on components would lead to smartphone companies relying on local production in the country. But this also led to an increase in smartphone prices along with other factors such as the ongoing global chip shortage. The <a href="https://www.businessinsider.in/budget" data-type="tilCustomLink">Union Budget 2022</a> will be announced on February 1 by Finance Minister Nirmala Sitharam, and this year fewer or no increases in component duties are expected from the smartphone industry. According to Hari Om Rai, chairman and managing director of phone maker Lava International, there are two major demands from the industry. One is to not impose any “further increase in component duties in this budget as it impacts our global competitiveness.” The other demand is to create a separate budget for homegrown brands. “We are looking at creating economies of scale to create global competitiveness, [and] value-addition will follow,” Rai said. Lava is among the few Indian smartphone brands that still operate and launch products. Other brands like Intex Technologies and Karbonn Mobiles shut shop primarily due to the influx of Chinese brands in the country. Lava launched its first 5G smartphone ‘Agni 5G’ in India last November. Another Indian smartphone brand still floating is Micromax, which made a comeback last year with new smartphones and wireless earbuds as well. But the majority of the Indian smartphone market is occupied by Chinese brands including Xiaomi, Vivo, Realme and Oppo, according to quarterly data from Counterpoint Research. The reason is aggressive pricing and high-specced devices. <div type="image" title="nft - 2022-01-31T192425.461" msid="89251597" hostid="261" caption="&amp;lt;p&amp;gt;Indian smartphone market share in 2021.&amp;lt;/p&amp;gt;"></div> An example of this is Bengaluru-based <a href="https://www.vccircle.com/sachin-tendulkar-backed-smartron-gets-up-to-200-mn-gem-group-s-commitment">Smartron</a>, a tech brand backed by Sachin Tendulkar that silently exited the smartphone market in India. It launched budget smartphones under ₹10,000, and it also launched tablets under its product portfolio. The brand is now focusing on expanding its smart home segment with its IoT ecosystem ‘tronX’. Another homegrown and Bengaluru-based startup Creo that tried its luck not only in smartphones but a custom OS as well. Founded by former Hike employees, Creo had launched the <a href="https://www.techradar.com/in/news/hike-acquires-creo-the-makers-of-os-centric-mark-1-smartphone">Mark 1 smartphone</a> that ran on Android-based Fuel OS. The company soon decided to end production of the device and focus on Fuel OS. According to Upasana Joshi, research manager, client devices at IDC India, Indian smartphone brands “continue to struggle in comparison to global or Chinese players owing to the large scale of business and acceptability in the market.” One way of helping bring up more Indian smartphone brands would be a separate budget to build “National Champions” according to Rai. “To acquire strategic skills and become global Indian champions have a remarkable potential to create national wealth and become beacons of economic progress for India's long term technological and financial independence. It is highly imperative to develop and bolster Indian champions to bring strategic skills and technology and augment GDP, employment, and foreign exchange,” Rai said. Another expectation is “huge investments to match production, marketing and operational spends in a consolidated smartphone market like India,” according to Joshi. For the smartphone industry in general, <keyword id="10547300" type="General" weightage="20" keywordseo="budget-2022" source="Orion">Budget 2022</keyword> is expected to continue the “push for establishing component factories and making them available locally, along with fewer exemptions,” Joshi added. But we may continue to see smartphone prices increasing even in 2022. “IDC expects ASPs (average selling price) for smartphones to only rise further and peak annually,” Joshi said. Regardless, as per research firm Counterpoint, India's smartphone market revenue crossed $38 billion in 2021 with 27 per cent (on-year) growth, as shipments grew 11 per cent to reach 169 million units. It would be interesting to see how the upcoming budget will aid the existing Indian manufacturers to bolster their share to survive, unlike their counterparts that had to quit the business. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budget-2022-expectation-why-india-needs-an-urban-mgnrega/articleshow/89199969.cms" data-type="tilCustomLink">Budget 2022 expectation: Why India needs an urban MGNREGA</a> <a href="https://www.businessinsider.in/budget/news/union-defence-budget-2022-submarines-drones-warships-and-aircraft-carriers/articleshow/88989045.cms" data-type="tilCustomLink">This year’s defence budget may focus on building submarines, drones, warships and aircraft carriers</a>

India Budget 2022 expectations: Fewer or no increase in component duties for smartphones

<ul><li>The Indian government will have to ensure it strikes a balance between welfare dole out and expenses, and generating adequate avenues for income. </li><li>The efficiency in managing the rupee’s performance against the <keyword id="6368584" type="General" weightage="20" keywordseo="us-dollar" source="Orion">US dollar</keyword> will be an important factor in keeping inflation and expenses under control. </li><li>Ahead of <keyword id="10547300" type="General" weightage="20" keywordseo="budget-2022" source="Orion">Budget 2022</keyword>, Business Insider spoke to experts to understand what the outlook for the rupee is against the US dollar. </li></ul>Budget 2022 is almost here and managing the fiscal balance is one of the core challenges that the Indian government and its finance minister will have to deal with. And the rupee’s performance against the US dollar is a key cog in this wheel of fiscal balance. <div type="image" title="Rupee USD chart" msid="89218687" hostid="261" caption="&amp;lt;p&amp;gt;Rupee&amp;#39;s performance against the US dollar over the last five years&amp;lt;/p&amp;gt;"></div> Why is that, you ask? The reason is simple – a bulk of India’s foreign trade and debt is US dollar denominated. This means that India has to pay in dollars whenever it imports goods and services into the country. Likewise, it also has to repay foreign debt and interest on it in dollars. With the Budget 2022 imminent, experts remain cautious and suggest that the rupee will further weaken against the US dollar this year. “A big [market] crash does not seem likely. The big crashes happen when the returns are far higher than the trend line. And that does not seem to be the case right now. Rupee depreciation is a risk,” Devina Mehra, founder of First Global, told Business Insider. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="7" retweetcount="2" status="Here’s why @devinamehra does not expect a big market crash but warns that the rupee may get weaker against the doll… https://t.co/q8X0G7ypo1" createdat="1643012228000" id="1485527074127642627"></div> However, rupee depreciation is not really a bad thing, per se, explains Nilesh Shah, the managing director of Kotak Mahindra Asset Management Company. “My recommendation is that instead of predicting where the rupee will go, let the market take its call. The market will find what is the fair value of the rupee,” Shah told Business Insider. “2-3% depreciation of rupee every year is necessary to maintain our competitiveness,” he further added, referring to the fact that rupee depreciation helps make Indian exports attractive. <cmsannotation type="cmsannotation" annotationid="A weaker rupee against the US dollar – is it a good thing?" comment="subhead" text="A weaker rupee against the US dollar – is it a good thing?">A weaker rupee against the US dollar – is it a good thing?</cmsannotation> This is a simple concept and here’s how it benefits exporters: If you exported goods or services worth $1,000, at an exchange rate of ₹70 a dollar, you would be entitled to ₹70,000 in total. Now, if the rupee weakens against the dollar and falls to ₹74 a dollar, you will be entitled to receipts of ₹74,000. That is a gain of ₹4,000 purely on account of exchange rate change. However, this becomes a disadvantage when we import goods and services since payments are mostly made in US dollars. In December 2021, India’s trade deficit stood at $21.7 billion, meaning that we imported $21.7 billion worth goods and services more than exports. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budget-2022-why-income-tax-slabs-may-not-change-this-year/articleshow/89179572.cms">Budget expectations 2022: Here’s why income tax slabs may not change this year</a> <a href="https://www.businessinsider.in/budget/news/from-tax-structure-rationalisation-to-expanding-ev-charging-infrastructure-heres-what-the-industry-wants-from-budget-2022/articleshow/89162814.cms">From tax structure rationalisation to expanding EV charging infrastructure, here’s what the industry wants from Budget 2022</a> <a href="https://www.businessinsider.in/budget/news/budget-2022-expectation-why-india-needs-an-urban-mgnrega/articleshow/89199969.cms">Budget 2022 expectation: Why India needs an urban MGNREGA</a>

Experts say the rupee is likely to weaken against the US dollar this year

<ul><li>Before presenting the <keyword id="6360189" type="General" weightage="20" keywordseo="union-budget" source="Orion">Union Budget</keyword> in the parliament, the Indian government releases the annual <keyword id="6354872" type="General" weightage="100" keywordseo="economic-survey" source="Orion">Economic Survey</keyword>.</li><li>The Economic Survey throws light on the trends in different sectors and tracks the state of the country’s economic performance in the past one year.</li><li>The Chief Economic Advisor authors the Economic Survey in India and is later approved by the Union Finance Minister.</li></ul>In India, the Economic Survey prepares the background framework for the Union Budget. It facilitates a bird’s eye view of the trends noticed in different sectors over the previous year like agriculture, manufacturing, employment, infrastructure, prices, exports, imports, foreign exchange reserve, and money supply for example. <cmsannotation type="cmsannotation" annotationid="Economic Survey’s objectives" comment="subhead" text="Economic Survey’s objectives">Economic Survey’s objectives</cmsannotation> The various objectives of the Economic Survey in India can be summed up under three heads: <ul><li>Reviewing the country’s economic development over the past 12 months.</li><li>Summarising how the different development projects of the country perform.</li><li>Highlighting the government’s policy initiatives.</li></ul><cmsannotation type="cmsannotation" annotationid="The format of the Economic Survey" comment="subhead" text="The format of the Economic Survey">The format of the Economic Survey</cmsannotation> After Arvind Subramanian took charge as the Chief Economic Advisor (CEA) of the country, the Economic Survey became a two-volume report and his successor KV Subramanian continued the same trend. The first volume generally has chapters on the future course of the economy. Therefore, the first volume provides a scope for the CEAs to narrate their views. The second volume lists the country’s economic developments over the past year. The principal focus of the second volume is to explain the immediate economic issues faced by the different sectors with the help of statistical data. It throws light on the major challenges anticipated along with the solutions presumed. <cmsannotation type="cmsannotation" annotationid="Trends and practices" comment="subhead" text="Trends and practices">Trends and practices</cmsannotation> The first economic survey was released in the financial year (FY) 1950-51. In the next 14 years that followed, it was presented along with the Union Budget. Starting from 1964, it preceded the budget and was released a day before the budget session in the parliament. As per some reports, the 2021-22 Economic Survey might get back to its one-volume format after eight consecutive years. Most probably, this year’s Economic Report might contain the key data for the FY across different industry segments while leaving out the policy prescriptions that are usually a part of the main volume. <cmsannotation type="cmsannotation" annotationid="Why is the Economic Survey Important?" comment="subhead" text="Why is the Economic Survey Important?">Why is the Economic Survey Important?</cmsannotation> The Economic Survey is one of the most critical documents in the country’s administration. It gains utmost importance in financial planning as it contains insights on the country’s economic health. It talks about the different economic factors that might impact the budget. This is an invaluable document in highlighting the key concerns about the economy. The Economic Survey also reviews resource allocation in the budget. <cmsannotation type="cmsannotation" annotationid="Is releasing the Economic Survey mandatory for the government?" comment="subhead" text="Is releasing the Economic Survey mandatory for the government?">Is releasing the Economic Survey mandatory for the government?</cmsannotation> The Indian Constitution neither binds the government to present the Economic Survey nor is the government obliged to go with its recommendations. It is completely left to the government to decide if it will adopt or reject the suggestions made in the Economic Survey. We can say the Economic Survey is a kind of report card of the country’s economy and it also serves as the vehicle to promote economic reforms. <cmsannotation type="cmsannotation" annotationid="Where can we access the Economic Survey?" comment="subhead" text="Where can we access the Economic Survey?">Where can we access the Economic Survey?</cmsannotation> The document of the Economic Survey is made available to the public in PDF format on the exclusive website for the Union Budget <a href="https://www.indiabudget.gov.in/">https://www.indiabudget.gov.in/</a> or on the <keyword id="47209" type="General" weightage="20" keywordseo="finance-ministry" source="Orion">Finance Ministry</keyword>’s website <a href="https://finmin.nic.in/">https://finmin.nic.in/</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/with-covid-expenses-rising-taxpayers-need-more-than-an-insurance-rebate-says-a-wealth-manager/articleshow/89199947.cms">With COVID expenses rising, taxpayers need more than an insurance rebate, says a wealth manager ⁠</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-expectation-why-india-needs-an-urban-mgnrega/articleshow/89199969.cms">Budget 2022 expectation: Why India needs an urban MGNREGA</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/heres-why-there-is-less-adoption-of-the-new-tax-regime-and-how-budget-2022-can-make-it-more-attractive/articleshow/89195776.cms">Here’s why there is less adoption of the new tax regime and how budget 2022 can make it more attractive</a>

EXPLAINED: India’s annual Economic Survey

<ul><li>FMCG company <keyword id="11909643" type="General" weightage="20" keywordseo="adani-wilmar-ipo" source="Orion">Adani Wilmar IPO</keyword> is a fresh issue of equity shares of ₹3,600 crore and no existing promoters or shareholders will be selling any shares.</li><li>The IPO has been subscribed 1.19 times in the first two days of subscription process.</li><li>Shares of the company are commanding a premium of ₹40 in the grey market.</li></ul>Today, January 31, is the last day to subscribe to fast moving consumer goods (FMCG) company Adani Wilmar’s – known for edible oil brand Fortune – initial public offering (IPO). In the first two days of the subscription process, the IPO received a tepid response from investors as it was oversubscribed by 1.19 times. The IPO is a complete fresh issue of equity shares of ₹3,600 crore and no existing promoters or shareholders will be selling any shares. Shares of the company are commanding a premium of ₹40 in the grey market. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category of investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.42 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.93 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.95 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.19 times </td></tr></tbody></table>Adani Wilmar is a joint venture between Adani Group and Singapore-based Wilmar, which was formed in 1999. It sells cooking oils under the Fortune brand as well as various other food products like rice and sugar. If you’re looking to invest in the IPO, here is what <a href="https://www.businessinsider.in/stock-market/news/adani-wilmar-is-a-good-fmcg-bet-to-invest-at-a-reasonable-ipo-price-say-analysts/articleshow/89110247.cms">analysts </a>are suggesting to IPO investors. Considering the company’s strong footing in edible oil business, wide distribution and future prospects, analysts recommend subscribing to the IPO. “Adani Wilmar has strong brand recall, wide distribution, better financial track record and healthy returns on equity (ROE). Considering all the positive factors, we believe this valuation is at reasonable levels. Thus, we recommend a subscribe rating on the issue,” said Amarjeet Maurya of Angel One. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/with-covid-expenses-rising-taxpayers-need-more-than-an-insurance-rebate-says-a-wealth-manager/articleshow/89199947.cms">With COVID expenses rising, taxpayers need more than an insurance rebate, says a wealth manager ⁠</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-expectation-why-india-needs-an-urban-mgnrega/articleshow/89199969.cms">Budget 2022 expectation: Why India needs an urban MGNREGA</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/heres-why-there-is-less-adoption-of-the-new-tax-regime-and-how-budget-2022-can-make-it-more-attractive/articleshow/89195776.cms">Here’s why there is less adoption of the new tax regime and how budget 2022 can make it more attractive</a>

Last day to subscribe to Adani Wilmar’s IPO; GMP at ₹40 per share

<ul><li>Salaried jobs, which are amongst the more well-paying jobs, are the silver lining in an otherwise deteriorating employment market, <keyword id="6493461" type="General" weightage="80" keywordseo="cmie" source="Orion">CMIE</keyword> data shows. </li><li>Even amongst salaried jobs – those created by listed companies came in at 0.7 million in 2021-22, offering up to three-times higher salaries than other salaried jobs. </li><li>A rise in industrial jobs, and a decline in agricultural and personal service jobs is another good indicator, say analysts. </li></ul>The Indian workforce is smaller than pre-pandemic days, but the quality of jobs has gotten better, according to a new survey by the Centre for Monitoring Indian Economy (CMIE). According to the latest CMIE report, salaried jobs, which are amongst the more well-paying jobs, are the silver lining in an otherwise deteriorating employment market. The report states that 8.5 million salaried jobs were added in September-October 2022. Overall, salaried jobs stood at 86 million in September, and 84.7 million in October – the highest in any month since the beginning of the Covid-19 pandemic. <cmsannotation type="cmsannotation" annotationid="Smaller, but better paid workforce" comment="subhead" text="Smaller, but better paid workforce">Smaller, but better paid workforce</cmsannotation> More interestingly, it’s the jobs created by listed companies that offer the most comfort, according to Mahesh Vyas, managing director and CEO of CMIE. According to Vyas, salaries in listed companies are nearly three-fold higher than other salaried jobs – the average salaries in listed companies in 2021-22 stood at ₹7.14 lakh per annum, when<a href="https://www.cmie.com/kommon/bin/sr.php?kall=warticle&amp;dt=20221107154522&amp;msec=023"> compared</a> to ₹2.63 lakh per annum across all salaried jobs. “This is way ahead of wages in other forms of employment. For example, a business person made ₹1,34,323 per annum and small traders and daily wage labourers made about ₹1,17,053 per annum. Farmers made even less,” Vyas said. <cmsannotation type="cmsannotation" annotationid="Agriculture, personal service jobs decline – but that’s a good thing, says Credit Suisse" comment="subhead" text="Agriculture, personal service jobs decline – but that’s a good thing, says Credit Suisse">Agriculture, personal service jobs decline – but that’s a good thing, says Credit Suisse</cmsannotation> Employment metrics appear to have deteriorated when the overall numbers are taken into account, with the labour participation rate falling from 39.3% in September to 39% in October. The rate of unemployment also rose from 6.4% to 7.8%. However, CMIE notes that it has seen a rise in industrial jobs when compared to the pre-Covid levels seen in October 2019. “The drop in agricultural employment should be seen positively, given that it usually means hidden unemployment. Further, the decline in service jobs is mostly in personal services, which are also generally low in value-addition,” said a report by Credit Suisse. <cmsannotation type="cmsannotation" annotationid="Rural recovery underway, says Morgan Stanley, but caution needed" comment="subhead" text="Rural recovery underway, says Morgan Stanley, but caution needed">Rural recovery underway, says Morgan Stanley, but caution needed</cmsannotation> While a bulk of the salaried jobs – 63% of them – came from the urban markets in 2021-22, analysts at Morgan Stanley say that a<a href="https://www.businessinsider.in/finance/news/rural-recovery-underway-says-morgan-stanley/articleshow/94935646.cms"> rural recovery</a> is underway, too. Four key indicators – employment, credit offtake, auto sales and trade, are all set for a rebound, the research firm noted. “We believe rural demand is set to rebound, helped by wider reopening, improving labour market conditions, and improving terms of trade for the rural sector,” the report said. Credit Suisse adds that the demand for jobs under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is also the lowest since the beginning of Covid-19. However, on a cautionary note, CMIE says that daily wage labourers and small traders lost 11.8 million jobs in September-October 2022 – most of these jobs are in rural India. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/article/its-not-just-mercedes-even-bank-deposits-are-competing-with-equities/articleshow/95879457.cms">It’s not just Mercedes, even bank deposits are competing with equities</a> <a href="https://www.businessinsider.in/finance/news/indias-gdp-growth-comes-in-at-6-3-in-q2-manufacturing-mining-witness-negative-growth/articleshow/95888683.cms">India's GDP growth comes in at 6.3% in Q2: manufacturing, mining witness negative growth</a> <a href="https://www.businessinsider.in/finance/news/slower-rate-hikes-on-the-cards-say-analysts-ahead-of-rbis-december-monetary-policy-meet/articleshow/95881537.cms">Slower rate hikes on the cards, say analysts ahead of RBI’s December monetary policy meet</a>

Indian workforce smaller than pre-pandemic days, but quality of jobs better

New Delhi, Feb 1 (PTI) Left parties on Tuesday hit out at the government over the Budget, saying it was "anti people" and a "bag of disasters and deceptions". CPI(M) general secretary Sitaram Yechury questioned the government on the purpose of Union Budget and asked why the wealthy have not been taxed further. "Budget for whom? The richest 10% Indians owns 75% of the country's wealth. Bottom 60% own less than 5%. Why are those who amassed super profits during the pandemic, while joblessness, poverty &amp; hunger have grown, not being taxed more?" Yechury asked in a tweet. The budget, presented by Finance Minister Nirmala Sitharaman, does not tinker with personal income tax rates. It also does not raise standard deduction, which was widely anticipated in view of elevated inflation levels and impact of the pandemic on the middle class."Anti people budget. When human suffering exponentially grew during last two years, subsidies on food, fertiliser and petroleum slashed. "Cruel assault on people's livelihoods. Propaganda and Spin is to double farmers incomes. FM proudly announces Rs 2,37 lakh crore as MSP on wheat and paddy directly credited to farmers accounts. This is less than the MSP payments in 2020 - 21, which was Rs 2.478 Lakh Crore. Criminal assault on farmers continues," Yechury said. He further stated that while India has 200 million people with no jobs, the finance minister did not announce any urban employment guarantee scheme. "MGNREGA allocation remains the same as last year Rs 73Kcr, which fell short by nearly Rs 50Kcr. A criminal assault on the livelihood of our youth," he said. CPI general secretary D Raja said that the overall allocation for agriculture and allied activities has gone down from 4.26 per cent to 3.84 per cent. "MSP was not even mentioned in the Finance Minister's speech. Budget 2022 turned out to be a bag of disasters &amp; deceptions. That's how Modi government intends to double farmers' income?" he said. Raja also criticised allowing foreign universities to operate in the country without regulations is going to distort level playing field. "Dalits and students from other marginalised communities will be the worst hit. Only the already affluent will gain from this inequality in education. Budget 2022 has not addressed growing unemployment and inequality. "No Wealth Tax introduced to bridge the gap between the rich and the poor. Pandemic has made life difficult for commoners but providing any relief is not on the government's agenda. The rich stands to gain more," Raja said in a series of tweets. PTI ASG ZMN

You Searched For "Urban MGNREGA 2022" and got 7 results

Budget 2022 expectation: Why India needs an urban MGNREGA

Vaamanaa Sethi

India Budget 2022 expectations: Fewer or no increase in component duties for smartphones

Marcia Sekhose

Experts say the rupee is likely to weaken against the US dollar this year

Rounak Jain

EXPLAINED: India’s annual Economic Survey

BI India Bureau

Last day to subscribe to Adani Wilmar’s IPO; GMP at ₹40 per share

Bhakti Makwana

Indian workforce smaller than pre-pandemic days, but quality of jobs better

Rounak Jain

Left parties say Budget 'anti people', bag of disasters and deceptions'

PTI

Popular Keywords

Buying Guides