-Livemint.com The ratio of currency in circulation as share of broad money is back at pre-demonetisation levels, according to Reserve Bank of India data On 8 November 2016, Prime Minister Narendra Modi announced the “demonetisation” of high-value currency notes. When it became clear the ex ante goals of reducing corruption and black money were unlikely to succeed, attention shifted to a range of possible ex post facto rationales for the move. Numerous...
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The signal and the noise in India's jobs data -Tadit Kundu, Udayan Rathore and Pramit Bhattacharya
-Livemint.com The new subscribers to EPFO likely represent formalization of a section of the regular workforce rather than new additions to it New Delhi: Ahead of the 2019 Lok Sabha elections, the jobs debate in India has heated up once again. Spokespersons of the National Democratic Alliance (NDA) claim the Indian economy has created an unprecedented number of jobs over the past couple of years. The opposition as well as some independent...
More »Why the Modi govt's move to ditch quarterly jobs surveys to make way for EPFO-based employment data is a mistake India -Dinesh Unnikrishnan
-Firstpost.com The labour ministry has put the Quarterly Employment Survey (QES) on the back burner as it wants to transition to computing payroll data based on Employees’ Provident Fund Organisation (EPFO) subscriptions, based on data from the Employees State Insurance Corporation (ESIC) and the Pension Fund Regulatory and Development Authority (PFRDA), according to this report in The Economic Times. Of course, the EPFO-based jobs data gives one a better picture about the...
More »Labour Ministry puts on hold quarterly jobs survey -Yogima Sharma
-The Economic Times NEW DELHI: Labour ministry’s quarterly employment survey (QES), which provides for the number of jobs created in eight sectors that account for over 80% of the country’s total organised workforce, has been put on the backburner owing to the more recent payroll data which has projected much higher number of jobs created in the organised sector than the labour bureau survey shows. According to the government’s first-ever estimate of...
More »Measuring Economic Development: Data points undergo changes in 4 yrs -Aanchal Magazine
-The Indian Express GDP growth rates for pre-2011-12 years, making it impossible to compare the new growth data with the growth during the UPA years. New Delhi: From a new gross domestic product (GDP) series to a revised Index of Industrial Production and inflation indices, alongside fresh interventions including payroll reporting based on EPFO data, statistical measurement tools to gauge economic development underwent some change over the past four years. In the...
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