-The Hindu Business Line Prime Minister Narendra Modi promised one crore jobs during the 2014 elections. At the present rate of job creation, this will take 30 years. Muthukumar K and Seetharaman R report on the employment crisis Raj Abraham (name changed on request), a first-year student at a leading management institute in Chennai, is a bit anxious these days. Ask him how his seniors are faring in campus placement and the...

-The Times of India NOIDA: More than 40% of contractual workers have been laid off from Noida's garment industry in the past 40 days after demonetisation was announced. Gautam Budh Nagar district labour department and workers' associations confirmed that while many garment export and manufacturing units have started pulling down shutters, many people who work on a contractual basis have been rendered jobless. Noida has 1,800 garment manufacturing and export units. Of...

-The Hindu The government must target labour market rigidities to maximise gainful employment in the textile sector. India’s textile and apparel industry is all set for an overhaul as the new National Textile Policy will soon be placed before the Cabinet for approval. The government has already accepted a Rs.60 billion special package for this sector with an aim to create 10 million new jobs in the next three years, attract investments...

-PTI The government approved on Wednesday a Rs 6,000-crore special package for textiles and Apparel sector to create one crore new jobs in 3 years, attracting investments of $11 billion and generating $30 billion in exports. The measures approved include additional incentives for duty drawback scheme for garments, flexibility in labour laws to increase productivity as well as tax and production incentives for job creation in garment manufacturing. “Over the last few years, apparel...

-The Hindu Business Line Higher social sector spending by the government boosts income and consumption, and spurs growth India’s economic growth is now much more closely linked to the state of the rural economy than it ever was. Sustaining a 7.5-per cent growth in GDP would be contingent on higher growth in rural household consumption. Rural expenditure grew 5.7 per cent annually during 2005-15 — against 5 per cent annual growth in the...