New enrollments to the government’s Employees’ Provident Fund Scheme rose 5.5 percent for women in the second quarter of FY25 from Q2FY24, even as new enrollments for men shrunk during this period
Profits of formal sector manufacturing firms also rose to Rs 9.76 lakh crore in FY23
Karnataka, Kerala and Maharashtra prefer a bit of experience and education in formal work
The last two years also saw textile companies shutting down operations and downsizing their team, whereas the tech sector thrived. According to the report by How India Lives, in January 2019, there were close to 2,24,000 firms in the formal textile industry. Now close to 4 percent have left the formal economy fold.
SBI will be a global player, controlling 25 percent of the Indian banking industry, after the merger with its associate and subsidiary units, Finance Minister Jaitley said in an exclusive interview to CNBC-TV18.