trade deficit

India's imports from Saudi Arabia was worth $31.3 billion more than its exports to the country

CEA Krishnamurthy Subramanian

Krishnamurthy V Subramanian also called to cease the use of CMIE data on employment in India till the flaws in its survey methodology are fixed

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Decline comes after the pandemic surge took announcements to record high

layoffs, job loss, lay-offs, unemployment

Higher borrowing costs are already weighing on India's economy, data show

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Business Standard brings you the top headlines at this hour

employment

India's unemployment rose to a three-month high in March to 7.8 per cent as the country's labour markets deteriorated, according to data from the Centre for Monitoring Indian Economy (CMIE).
Unemployment rate in the country surged in December 2022 to 8.30 per cent but declined in January to 7.14 per cent. It edged up again in February to 7.45 per cent, the CMIE data released on Saturday showed.
During March, the unemployment rate in urban areas was at 8.4 per cent while in the rural areas it was at 7.5 per cent.
"India's labour markets deteriorated in March 2023. The unemployment rate increased from 7.5 per cent in February to 7.8 per cent in March. The effect of this is compounded by the simultaneous fall in the labour force participation rate, which fell from 39.9 per cent to 39.8 per cent," CMIE managing director Mahesh Vyas told PTI.
This led to a fall in the employment rate from 36.9 per cent in February to 36.7 per cent in March, Vyas said, adding that employment fell from 40

Consumer sentiments

While the relatively richer and poorer households have seen their consumer sentiments spurt, the middle income households have seen slower growth in their sentiments

The largest provider of employment in Maharashtra is the agricultural sector

We see a fairly remarkable improvement in the Indian consumer sentiments during the first 10 weeks of 2023

There was a marginal improvement in India's labour participation rate to 39.92% in February compared to 39.8% in January 2023

The recovery in consumer sentiments from the pandemic has been the slowest among all economic indicators

India, incidentally, was the fastest country to report the unemployment rate for the month of January 2023

India suffers from a poorly educated workforce that is confined to poor quality jobs. Most employment is informal and in the unorganised sector

Small traders and daily wage labourers had recorded a sharp 22 per cent increase in their ICS between June and September 2022

Around 0.28 million women aged 20-29 entered the labour force in this period, according to CMIE's Consumer Pyramids Household Survey data

The Index of Consumer Sentiments shrunk by 0.9% in December 2022 after having declined by 1.7% in November

Image via Shutterstock

The urban unemployment rate rose to 10.09% in December from 8.96% in the previous month, while the rural unemployment rate slipped to 7.44% from 7.55%, the data showed

The unemployment rate was over 8% in all three weeks that ended in December

Average wages paid by listed companies is more than twice the salaries paid by other enterprises

jobs, pople, govt, coronavirus, exams, workers, unemployment

The country's unemployment rate rose to a three-month high at 8 per cent during November, according to data by the Centre for Monitoring Indian Economy (CMIE).
The unemployment rate in urban India was higher at 8.96 per cent, while in rural areas, it was at 7.55 per cent, the CMIE data showed on Thursday.
In October this year, the urban joblessness was at 7.21 per cent and the rural unemployment rate was at 8.04 per cent.
Among the states, Haryana continued to have the highest unemployment rate in the country in November at 30.6 per cent, followed by Rajasthan at 24.5 per cent, Jammu and Kashmir at 23.9 per cent, Bihar at 17.3 per cent and Tripura at 14.5 per cent.
The states that witnessed the least unemployment rate in the previous month are Chhattisgarh at 0.1 per cent, Uttarakhand 1.2 per cent, Odisha at 1.6 per cent, Karnataka 1.8 per cent and Meghalaya at 2.1 per cent.
India's unemployment rate in October was at 7.77 per cent, while in September it was at a low of 6.43 per c

The major religious minorities - Muslims and Christians - have withdrawn from the labour markets more than the majority faith. But again, the difference is not alarming

The run-up in the markets in these last few months, analysts at HSBC said, has made investors nervous about the markets amid multiple headwinds

markets

India has told Canada that if any of these diplomats stay after October 10, their diplomatic immunity will be revoked

Justin Trudeau

In an interview, Agarwal said the response to the steel and iron business will help the company reduce debt

Anil Agarwal

Shares of Metro Brands that boasts of Metro, Mochi, Walkaway, Crocs and Fitflop brands, hit a record high of Rs 1,292, rallied 15% in intra-day trade on the BSE.

IPO-bound Metro Brands aims to utilise Rs 250 cr for store expansion

Metro

The MCX Gold December futures seem headed towards the 100-WMA (Weekly Moving Average) which stands at Rs 54,150 level; below which the next target shall be the 200-WMA.

Gold

According to Amiri, officials delivered a clear message: The Taliban must respect Afghan and women's rights to be part of the international community, according to Khaama Press

Women, gender, female, afghanistan, taliban

Notably, the accused were managing the accounts from Bengaluru while residing abroad

cybercrimes

Prime Minister's Office said that PM Modi will lay the foundation stone of key road projects that are part of the Nagpur - Vijayawada Economic Corridor

Prime Minister Narendra Modi, PM Modi

The raids were conducted at five locations across Gursai village of Mendhar Tehsil of Poonch district

Catch all the latest updates from across the globe here

GSTGST

The combined market valuation of five of the top 10 most valued firms declined by Rs 62,586.88 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit, amid an overall bearish trends in equities.
Last week, the BSE benchmark fell 180.74 points or 0.27 per cent, and the Nifty declined 35.95 points or 0.18 per cent.
The market valuation of TCS plunged Rs 26,308.58 crore to Rs 12,91,919.56 crore.
Infosys witnessed an erosion of Rs 25,296.43 crore from its valuation which was at Rs 5,95,597.10 crore.
The market valuation of Reliance Industries fell by Rs 5,108.05 crore to Rs 15,87,553.37 crore and that of Hindustan Unilever declined by Rs 3,865.08 crore to Rs 5,79,373.96 crore.
The market capitalisation (mcap) of HDFC Bank dipped Rs 2,008.74 crore to Rs 11,57,145.86 crore.
However, the mcap of Bajaj Finance jumped Rs 20,413.41 crore to Rs 4,73,186.41 crore.
Bharti Airtel added Rs 8,520.13 crore to Rs 5,19,279.14 crore in its valuation while

Even if generative artificial intelligence has been overhyped, it's safe to assume that ChatGPT-type bots will only get better at routine tasks like writing computer software

jobs, IT jobs, IT industry, AI

Half of India's population between the age of 30-55 years believes 59 years should be the age of retirement and thirty-two years is when one should ideally start retirement planning,

investment,saving, money, retirement, rupee

As the festival season approaches, followed by elections, state and national, there will be pressure on liquidity since cash with the public will rise

Banks credit growth

Bidhuri may be a small fry in the larger calculus of the party. Yet, in his blundering and uncultured way, he was voicing in Parliament what has already been normalised on the streets

Bidhuri

Stock Market Live on October 4, 2023: Stronger than expected job openings data in the US sent the 10-year treasury yield to a fresh 16-year high of 4.80 per cent on Tuesday

Stock market

The Delhi government has begun a special audit of the DJB amid the water works agency's rising debt and shrinking revenues, sources said on Tuesday.
The Finance department of the Delhi government conducting the special audit will also look into alleged instances of fund diversion by the Delhi Jal Board (DJB) from capital heads to other works, they said.
The audit will find out how a corpus of Rs 12, 712 crore provided in the last five years was utilised by the DJB even as its debt has soared to around Rs 70,000 crore from over Rs 26,000 crore in 2018, sources said.
The DJB, apart from production and distribution of water and disposal of sewerage, also looks after Yamuna cleaning in the city. It is currently executing various projects worth Rs 18,000 crore, official sources said.
They said it has come to knowledge that the DJB in the past diverted funds under capital heads to meet its pending bills for various projects. Out of Rs 1,557 crore provided to it this year for various work

Delhi Jal Board

Four earthquakes, the strongest being of magnitude 6.2, jolted Nepal in quick succession on Tuesday with tremors reverberating through parts of north India, including Delhi-NCR, the National Centre for Seismology (NCS) said.
An NCS official said the first quake of magnitude 4.6 struck west Nepal at a depth of 10 km at 2:25 pm, followed by the 6.2 magnitude jolt at 2:51 pm.
Two more quakes (magnitude 3.6 and 3.1) hit the same region at a depth of 15 km and 10 km at 3:06 pm and 3:19 pm, respectively.
The epicentre of the strongest quake was located in Dipayal district in west Nepal, 206 km southeast of the pilgrimage town of Joshimath in Uttarakhand and 284 km north of Uttar Pradesh's capital Lucknow.
"The events were recorded by more than 60 broadband seismic stations installed by the National Centre for Seismology. The analysis of seismic data shows that the events occurred on the North Almora Thrust (NAT), which provides a very suitable location for triggering the mainshock due to

Earthquake, quake

Here is the best of Business Standard's opinion pieces for today

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CMIE data

Trade deficit with Saudi Arabia at record high in FY23: CMIE data

Employment in India registered V-shaped recovery post-pandemic: Former CEA

New manufacturing projects decline in June 2023, shows CMIE data

India's unemployment rate rises to 3-month high of 7.8% in March: CMIE data

Top headlines: Unemployment rate rises to 7.8%, Twitter bans 680k accounts

Unemployment rate rises to 3-month high of 7.8% in March, says CMIE

Consumer sentiments improve

Employment in agriculture soars in Maharashtra

Consumer sentiments high on expectations

Employment inches up in urban India

Consumer sentiments improve, but still too low

Unemployment rate falls, but still too high

Education challenges of employment

Consumer sentiments to remain buoyant

Uptick in female labour force participation

Divergent consumer sentiments

Unemployment rate rises to 16-month high of 8.30% in Dec 2022: CMIE

Unemployment rate rising in December

Big enterprises are better employers

Unemployment rate rises to three-month high at 8% in November: CMIE