While the NSO’s Periodic Labour Force Survey (PLFS) 2017-18 had estimated female labour force participation rate for 15 years and above at 23.3 per cent, the comparative numbers of other countries highlight the labour market’s gender skew.
The draft rules also state that expenditure on fuel, electricity and other miscellaneous items to constitute 20 per cent of minimum wage and expenditure for children’s education, medical requirement, recreation and expenditure on contingencies to constitute 25 percent of minimum wage.
Through this month, regional provident fund offices have been sending out queries in a specified format to companies seeking “employment data of the proportion of SC & ST employees in total employment”.
These measures, estimated to result in a revenue loss of around Rs 1,500 crore a year, are expected to give a boost to the tourism and hospitality sectors ahead of the festive season. The decisions were taken at the Council’s 37th meeting.
When asked about the impact of the measures on the fiscal deficit, Finance Minister Nirmala Sitharaman said the government is conscious of the impact and expects the economic buoyancy resulting from these changes to generate significant resources.
Net direct tax collections during April 1-September 15 grew just 5% to Rs 4.4 lakh crore — against year’s target 17.3%. This below-than-expected growth in direct tax collections will muddy the government’s fiscal math
The Mudra Yojana was launched in April 2015 to provide funding to the non-corporate small business sector through various financial institutions like banks, NBFCs and Micro Finance Institutions (MFIs).
The emerging consensus within India Inc. on the need for a government-led stimulus notwithstanding, the Centre has limited fiscal space given the lower tax collections. The Budget was a missed opportunity in terms of signalling reforms