-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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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 »A triple blow to job guarantee scheme -Rajendran Narayanan & Madhubala Pothula
-The Hindu A lack of sufficient funds, rampant payment delays and abysmal wage rates are to blame The ?11,000 crore fraud that diamond merchant Nirav Modi is said to have created is a figure that needs to be put in perspective. The total amount of wages pending under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme for the whole country (2016-17) was around ?11,000 crore too. This sum is a...
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 »Rural income: looking beyond agriculture -Sanjay Kaul
-Livemint.com China’s example shows the benefits of the rural workforce shifting from the farm to the non-farm sector The government announced its ambitious dream of doubling farmers’ income by 2022-23 in 2015-16. Incomes would have to grow annually by 10.4% to double in seven years. The data on growth rates of farm income given by NITI Aayog in its policy paper on doubling farmers’ income shows that the real income of farmers has...
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