India's unemployment highest since 2016, climbs to 7.2% in Feb

Agencies
March 6, 2019

New Delhi, Mar 6: The unemployment rate in India rose to 7.2 percent in February 2019, the highest since September 2016, and up from 5.9 percent in February 2018, according to data compiled by the Centre for Monitoring Indian Economy (CMIE) that was released on Tuesday.

The unemployment rate has climbed despite a fall in the number of job seekers, Mahesh Vyas, head of the Mumbai-based think-tank said, citing an estimated fall in the labour force participation rate. The number of employed persons in India was estimated at 400 million in February compared with 406 million a year ago, he said.

The CMIE numbers are based on a survey of tens of thousands of households across the country. The figures are regarded by many economists as more credible than the jobless data produced by the government.

The figures will be unwelcome news for Prime Minister Narendra Modi ahead of the Lok Sabha elections due to be held by early May. Concerns about weak farm prices and low jobs growth are often brought up as election issues by opposition parties.

When the government has released official data for the jobless rate in the past it has tended to be out-of-date. But recently it withheld a batch of data because officials said they needed to check its veracity.

The figures that were withheld in December were leaked to a local newspaper a few weeks ago, and showed that India’s unemployment rate rose to its highest level in at least 45 years in 2017/18.

A CMIE report released in January said nearly 11 million people lost jobs in 2018 after the demonetisation of high value notes in late 2016 and the chaotic launch of a new goods and services tax in 2017, hit millions of small businesses.

The government told Parliament last month that it did not have data on the impact of demonetisation on jobs in small businesses.

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Well Wisher
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Wednesday, 6 Mar 2019

Hahaha. effects of Achche din.

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News Network
July 16,2020

Belgaum: Canon, Epson and Nikon reside in a house named "Click" in Karnataka's Belgaum district.

The newly built house of photographer couple Ravi and Krupa Hongal, which resembles a giant DSLR camera, has not only enamoured locals but has become quite a sensation on social media.

The three-storied camera-shaped house located in Shastri Nagar is an expression of passion and love for the art of photography of the couple whose children- three boys- have all been named after the iconic camera brands.

Their names ''Canon'', ''Epson'' and ''Nikon'' feature prominently on the house whose exterior resembles a camera. Just like a camera, the building has a glass window shaped as a viewfinder and another as a lens. It sports a wide film strip, a flash and even a memory card.

The walls of the house walls and its interior have graphics related to photography.

"I have been photographing since 1986. Building this house is like a dream come true. We also named our 3 children-Canon, Nikon and Epson. These all are three camera names. I love the camera and hence named them on camera companies name. My family were opposed to it, but we remain adamant," photographer Ravi told media persons.

Karnataka: A photographer couple, Krupa Hongal&Ravi Hongal, has built a camera-shaped house in Belgaum. Krupa (pic3) says,"It's a dream come true. We also named our 3 children-Canon,Nikon&Epson." Ravi (pic4) says,"We borrowed money for it&also sold our previous house."(14.07.20) pic.twitter.com/8Mkh1JOUk1

— ANI (@ANI) July 14, 2020
The photographer says the couple had to borrow money from relatives and friend for constructing the house. "We also sold our previous house to build this house," he added.

Krupa said that it was their cherished dream to build a house like a camera.

"My husband is a photographer. It was our dream to build a house like a camera. We planned and built this house. We feel like we are living inside a different world, inside a camera. I am very proud of my husband," she said.

Canon, their elder child said, "My friends used to ask me whether it was my real name. Now, I tell them yes, photography is my father's passion and hence he named me Canon."

On social media, the picture of the unique shaped house has been shared widely.

"This is called love for the passion," said one user on Twitter.

Another user commented: "A camera-obsessed photographer from India builds a camera-shaped house! 49-year-old Ravi Hongal has spent over $95,000 building the 3-story house, which looks like a camera in the town of Belgaum in India."

The family seems to be indeed living a picture-perfect dream.

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News Network
January 11,2020

Bengaluru, Jan 11: India’s second-biggest IT company, Infosys Ltd, said it found no evidence of financial misconduct by its executives following a investigation into whistleblower complaints.

Bengaluru-headquartered Infosys, which earlier on Friday raised its revenue forecasts due to upbeat demand from Western clients, said an audit committee report exonerated Chief Executive Officer Salil Parekh and Chief Financial Officer Nilanjan Roy of all allegations, including accusations that the duo prevented employees from presenting data on large deals.

“I’m very happy that CEO Salil Parekh and CFO Nilanjan Roy have emerged from this stronger,” Infosys Chairman Nandan Nilekani told reporters. “The last two years since Salil has been here the company has changed dramatically for the better.”

Parekh took over as Infosys CEO in January 2018, after his predecessor Vishal Sikka quit following a public row with the company’s founder executives amid whistleblower allegations of wrongdoing.

The company earlier said it expected revenue to grow between 10 per cent and 10.5 per cent on a constant currency basis in the year ending March 2020, compared with its previous forecast of between 9 per cent and 10 per cent.

“We continue to see momentum in the market and we have an extremely robust pipeline driven by segment leaders,” CEO Parekh told a news conference.

“With the strength of large deal wins and digital momentum, we were able to clearly see that we have support to raise our guidance.”

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News Network
May 28,2020

Udupi, May 28: The India Meteorologic Department (IMD) on Thursday warned fishermen in coastal belt of Karnataka against venturing out into the deep sea between May 31 and June 4.

The Department stated that depression is expected to occur in the south-eastern part of Arabian Sea and the nearby areas and it would be dangerous for the fishermen of Karnataka, Kerala and Lakshadweep to go out towards the deep sea.

The Department officials said that they would provide information on development in weather conditions. In the backdrop of the current weather forecast, however, the fishermen in the western coastline were advised against venturing into the sea.

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