TRENDS
Urban unemployment soars to 17.4%, but rural areas do better: CMIE
Unemployment rate is rising towards the record levels seen after countrywide lockdowns last year, and experts say hospitality, real estate, construction, retail, SMEs and ancillary units are the worst hit
INDIA
Enrolment for pension scheme for informal workers plunges in pandemic year
Enrolment for the scheme is down because the pandemic has made jobs and income uncertain and eligible workers are more focused on immediate cash needs, not the long term, experts say.
TRENDS
Labour Ministry revises minimum wages of central sphere workers
The new rate will be effective retrospectively from April 1 and is expected to benefit 1.50 crore workers.
TRENDS
Up to 4.71 lakh candidates apply for jobs in 707 vacancies
Gap in training and vacancies traced to 2020 lockdown and its resurgence this year; the number of trainees under NI-MSME has witnessed a 148% jump YoY
TRENDS
Frauds feast on personal data posted on social media for COVID supplies; cybercrimes to jump
Criminals are mining personal data of people seeking help on social media. Many have been duped to pay advance money to cybercriminals and there are cases of women being forced to sleep with a man to get supplies. Cyber experts say criminals will keep misusing the data
TRENDS
COVID-19 vaccine | 32% of India's 45-plus has received the first dose, says Health Ministry
The Centre has so far procured 35.6 crore doses for COVID-19 vaccination drive. Another 16 crore doses are in the pipeline. Daily active cases are increasing in Manipur, Kerala, West Bengal, Odisha, Assam, Tamil Nadu, Goa, Punjab and Puducherry, and 12 states have reported more than 1 lakh active cases while eight have over 50,000 cases, say officials.
TRENDS
Union cabinet approves Rs 18,100 crore PLI scheme for battery storage
In all, 13 PLI schemes are being implemented by the Centre of which 9 have been approved till now by the Centre. These include benefits for automobiles, IT hardware including mobile phones & telecom equipment, white goods, chemical cells and textiles.
TRENDS
COVID-19 update | 26 states record over 15% positivity rate; more than one lakh active cases in 13 states
About 42 percent of districts in the country are reporting a positivity rate above the national average.
TRENDS
National Task Force on oxygen: Why has it been constituted, who are its members and their mandate
Since a significantly large number of COVID patients require oxygen support in the second wave than during the first wave, and there is a severe shortage of oxygen and complaints against the Centre’s allocation policy, the Supreme Court has set up a 12-member task force to streamline the allocation.
TRENDS
Cut in work shifts by companies during COVID-19 Second Wave is unlikely to lead to job cuts
Employers do not want to let go off quality and skilled workers because the cost of training and recruiting is a lengthy and costly process; lockdowns in different parts of the country are of a shorter duration and not as draconian as the national lockdown in 2020, say industry insiders
TRENDS
Demand for work by households, persons rises 102%, 98%, respectively, in April under MGNREGA
Demand for work by households surges to 2.45 crore households and to persons by 3.52 crore. One labour expert said that a spike in demand under the scheme is a cautionary signal to the central and state governments that income support schemes must be devised.
TRENDS
Aadhaar mandatory to avail benefits under Social Security Code, says Labour Ministry
The code has for the first time extended social security benefits like maternity leave, disability insurance, gratuity, health insurance and old age protection to workers in the country’s booming unorganized sector. These include gig workers, platform workers, contract workers, freelancers and home-based workers.
TRENDS
FISME writes to FinMin, demands action against raw material providers and revision in NPA norms
The woes of the MSME sector, facing a liquidity and supply crunch, shortage of labour and non-payment of dues forced by the pandemic-induced lockdown in 2020, continues
TRENDS
ICRA revises down India's GDP growth forecast to 10.5% in FY22
ICRA cautions that the localised restrictions have started to impede the sequential momentum in many sectors.
TRENDS
Vaccinating everyone above 18 years to cost 0.36% of GDP: India Ratings
According to the rating agency, the maximum impact is likely to be borne by Bihar at 0.60 percent of GSDP, followed by Uttar Pradesh at 0.47 percent, Jharkhand at 0.37 percent, Manipur at 0.36 percent, Assam at 0.35 percent, Madhya Pradesh at 0.30 percent and Odisha at 0.30 percent.
TRENDS
Remdesivir Explained: From shortage, export ban to Centre's role in allocation
After state government requests, the Minister of State for Chemicals and Fertilisers, Mansukh Mandaviya, held meetings with drug manufacturers in which it was decided to reduce prices of Remdesivir and increase its production to up to 78 lakh vials per month
TRENDS
COVID-19 update | Delhi govt hospitals to get 164 more beds with oxygen backup, 122 ICU beds in two weeks
The health secretary said the Indian Railways is providing 50 coaches at the Shakur Basti station, amounting to 800 beds, and 25 coaches with 400 beds at Anand Vihar Station.
TRENDS
MSME associations in Maharashtra oppose lockdown, seek clarity on units that can operate
According to the MSME Ministry’s FY21 annual report there are about 47.78 lakh MSMEs in Maharashtra as per the National Sample Survey 73rd Round (2015-2016) of which 47.60 micro and 17,000 medium enterprises respectively.
TRENDS
Badli Industrial Estate Association writes to MSME Ministry, requests extension of migration to Udyam
MSMEs which self certify their existence by registering on the government portal are eligible for a wide variety of benefits ranging from interest rate subsidy on bank loans, to exemption under direct tax laws, concession in electricity bills among others.
TRENDS
Covid 19 update | Previous highest surge crossed, trend remains upward : Health secretary
The health secretary further noted that the daily Covid-19 deaths recorded in the country are registering an increasing trend but are yet to cross the toll witnessed during the first wave last year.
TRENDS
Why most MSMEs are not eligible for the pre-packed insolvency resolution process
As per the Ordinance which has introduced Chapter III A calls for a prior registration under the Micro, Small and Medium Enterprises Development Act for a corporate debtor to be eligible for pre-packaged insolvency resolution process.
BUSINESS
As India defers labour codes, social security benefits to gig workers get delayed
The four labour codes were earlier expected to be rolled out by April 1.
BUSINESS
Network18 Sanjeevani launch | Exploring possibility of third dose but no official recommendation: Serum Institute CEO Adar Poonawala
Serum Institute CEO Adar Poonawala was speaking at the launch of the Network18 Sanjeevani – A Shot Of Life, a CSR initiative by Federal Bank.
CORONAVIRUS
Network18 Sanjeevani – A Shot Of Life launched
Network18 Sanjeevani – A Shot Of Life was launched by Shyam Srinivasan, Chief Executive Officer of Federal Bank, and Actor and Campaign Ambassador Sonu Sood at the Attari Border.
