-The Hindu Business Line The trend of farm loan waivers has gripped the country and Karnataka is the latest to jump on to the bandwagon. The fiscal strain of farm loan waivers on the States is worrisome. As per RBI, the gross fiscal deficit (GFD) of States rose to 3.1 per cent of GDP in 2017-18, breaching the threshold of 3 per cent GFD/GSDP ratio recommended by the Finance Commission. This threshold has...
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One crore jobs in last year: Here is how PM Modi built his case during speech in Lok Sabha
-The Indian Express To lend weight to his argument, he referred to employment figures available in the system including EPF, NPS, formal and inFormal sector. He talked about job growth and employment towards the end of his speech. New Delhi: Rejecting criticism that the government failed to create enough jobs, Prime Minister Narendra Modi on Friday said over one crore jobs were created in the country over the past one year. The...
More »New EPF enrolment during Sep., 2017 to Apr., 2018 confined to a few industries & states, indicates data
A document of the Ministry of Statistics and Programme Implementation (MoSPI) dated 25th June, 2018 says that the number of members subscribing to the Employees' Provident Fund (EPF) scheme gives one an idea of the level of employment in the Formal sector viz. mostly employment in establishments employing 20 or more persons (though EPF is applicable for certain organisations, which employ less than 20 persons, subject to certain conditions and...
More »EPFO data government cited to show job surge is now down -Aanchal Magazine
-The Indian Express EPFO manages social security funds of workers in the organised/semi-organised sector in the country. EPF is applicable to establishments with more than 20 workers. New Delhi: The Employees’ Provident Fund Organisation’s (EPFO’s) enrolment numbers, which formed the basis for an ‘independent’ study released earlier this year that the government cited as an indicator of buoyancy in formal job creation in the economy, has now been sharply whittled down for...
More »Arvind Subramanian, outgoing Chief Economic Adviser to the Ministry of Finance, interviewed by TCA Sharad Raghavan (The Hindu)
-The Hindu The outgoing CEA also batted for the lateral entry of talent into the government The compensation payable to the States for revenue loss arising due to GST is just ?5,000 crore, far lower than was estimated, according to Chief Economic Adviser Arvind Subramanian. In a candid interview to The Hindu, the outgoing CEA also batted for the lateral entry of talent into the government, saying that it was a “no brainer”...
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