-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...
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India needs both price and income support for farmers -Soumya Kanti Ghosh and Debashis Padhi
-Livemint.com The concerns about the downsides of these schemes are overblown, and they could go some way in alleviating rural woes Since the Union Budget 2018-19, there has been a great deal of discussion in the public domain regarding the health of the rural sector. We believe that the rural sector needs some policy intervention, be it price support or income support. As a case in point, the agri gross domestic product...
More »India's forex reserves are falling $2 billion per week as RBI fights to save sliding rupee -Mahua Venkatesh
-ThePrint.in The dip in forex reserves has been due to the intervention of the central bank to arrest the slide in the rupee. New Delhi: India’s foreign exchange reserves have fallen by about $2 billion per week for seven weeks now but top government officials said they were monitoring the trend and there is no cause for alarm. Economic affairs secretary Subhash Chandra Garg said funds would be raised through foreign currency non-repatriable...
More »Job growth or number jugglery -Arun Kumar
-The Indian Express The problem is under-employment. It won’t be resolved if the residually-employed are notionally shifted from the informal to formal sector. In an article in January, Soumya Kanti Ghosh and Pulak Ghosh (Ghosh and Ghosh) claimed that seven million new jobs have been created in the formal sector. Their claim is based on the increase in registration under the Employees Provident Fund (EPFO), National Pension Scheme and Employees State Insurance...
More »Data Set for Modi's '7 Million Jobs' Claim Badly Maintained, '30-40% Unclean' -Somesh Jha
-TheWire.in/ Business Standard The Employees’ Provident Fund Organisation data analysed by researchers showed that in some cases, members have received contributions even before their joining date. New Delhi: A presentation made by State Bank of India chief economist Soumya Kanti Ghosh and Indian Institute of Management-Bangalore professor Pulak Ghosh to the Prime Minister’s Office (PMO) in January captured how subscriber data is shoddily maintained by the Employees’ Provident Fund Organisation (EPFO) –...
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