-The Times of India Government on Wednesday said that around seven crore people in the country were either unemployed or under-employed. "As per results of the latest survey conducted by the National Sample Survey Organization (NSSO) during 2009-10, the number of unemployed or under-employed persons on usual status basis in the country was 95 lakh and about six crore, respectively," the Union labour and employment minister Mallikarjun Kharge said in the Rajya...

-The Indian Express FDI in retail will bring competition to non-tradable services, and make Indian firms globally competitive India removed barriers to trade in goods in the 1990s. Removing protection brought global competition and raised productivity. But introducing global competition in services is harder. In certain services that are tradable, like legal or financial services, the removal of trade barriers can introduce competition and increase productivity. But these often involve complicated and...

-The Indian Express Too many of our economic prescriptions are based on dogma, empirical half-truths It has become fashionable to say, following the conclusions of Michael Spence’s Growth Commission, that there is no single recipe for growth, only some common ingredients. Such a claim brings a due degree of modesty to what we do or do not know about growth. And at the very least, such a claim has the virtue of...

-Live Mint Decline came as labour productivity grew 7.6%; wage growth remains far below pre-crisis levels globally  India’s real wages fell 1% between 2008 and 2011, while labour productivity grew 7.6% in the same period, International Labour Organization (ILO) data showed on Friday, indicating that the benefits of the country’s economic growth didn’t translate into better pay for workers in the aftermath of the global economic crisis. In contrast, China’s real wage growth...

-Reuters India’s efforts to clamp down on illegal mining have handed a $15 billion lifeline to global iron ore giants, and there could be more to come. Steps taken by central and state authorities to clean up the mining and export of iron ore have shut down output in two key producing states, slashing shipments and forcing steel mills to import a raw material the country has in abundance. Now the Shah Commission,...