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MTNL wants to lay off two-thirds of its employees to reduce costs as it is losing money. It currently has 45,000 employees but only needs 15,000 to run its business. MTNL spends over 30% of its revenues on employee wages and had losses of Rs. 2514 crore for the year ending March 2010 due to retirement benefit expenses. It will face opposition from strong employee unions for the layoffs.
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Sohail Ahmed, Head of the Stitching Department, writes a memo to Mr. Zaheer Khan, Head of Human Resources. 30 workers, 20% of the workforce, were injured in a bus accident and cannot work on an important export order worth Rs 25 million. He requests the recruitment of 25 temporary workers on an urgent basis to complete the order.
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The document summarizes recent news related to HR in the Indian government and private sector from November 1-5, 2010. It discusses plans to introduce an incentive system for government employees based on performance and cost savings. It also outlines proposals to raise salaries for employees at the Securities and Exchange Board of India and plans to speed up implementation of social security schemes for Indian workers through a high-level committee. The document concludes with the appointment of Uday Suri as head of sales and marketing at BNP Paribas Asset Management India.
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Employees of State Bank of India will go on a 2-day strike from November 25-26 to demand a salary hike, additional allowances, and increased pensions. Over 40 unemployed youth in the Tricity area of Mohali-Panchkula-Chandigarh received jobs under a Micro, Small and Medium Enterprises project that trains and places people in local businesses. Reserve Bank of India deputy governor Usha Thorat retired after 38 years of service overseeing departments like banking operations and rural planning; she will be replaced by Anand Sinha but it is unclear if he will oversee the same departments.
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The document provides economic, regulatory, and market updates from India. It mentions that the Indian government will allow investing 5-15% of employees' provident fund contributions in equity funds. It also notes new tax rules for provident funds and an upcoming meeting between the finance minister and industry on tax forms. Additionally, it lists recent changes and notifications from regulatory bodies like SEBI, RBI, and ICSI, along with introductions of historical events and current market indexes.
Code on Wages - CoW - Avoidable row on New Wages Bill and Overhaul Minimum Wa...
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The document discusses the proposed Code on Wages Bill in India and the controversy surrounding it. Key points:
- The bill aims to consolidate existing wage-related laws into a single code and give statutory powers to align state minimum wages with central stipulations. However, media claims the bill will introduce a single national floor wage of Rs 18,000 have caused confusion.
- The author analyzes state minimum wages and finds inconsistencies - wages vary widely between industries and skill levels within states. The current system of extrapolating wages is flawed.
- Studies show real Indian factory wages have remained stagnant while productivity increases were not passed to workers. Supply of labor exceeds demand, allowing employers to pay below minimum wagesFourth draft of Chidambaram‘s Direct Taxes Code How long can the country go o...
Fourth draft of Chidambaram‘s Direct Taxes Code How long can the country go on discussing such imperfect drafts - T.N. Pandey - Article published in Business Advisor, dated July 10, 2014 http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Weekly media update 02.02.2015
The document provides news clips from various media sources related to public sector enterprises (PSEs) in India and industries relevant to Balmer Lawrie. The articles discuss reforms being considered for central PSEs including fixing the tenure of chairmen, a new strategy for PSU disinvestment focusing on smaller firms, plans for more PSU stake sales in February and March to meet fiscal targets, a proposal to lower the government stake requirement for classifying a company as a PSU, and efforts to increase retail participation in PSU disinvestments. Crude oil prices and their impact on the Indian economy are also mentioned.
Newsletter on daily professional updates- 29/01/2020
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the greater our ignorance unfolds.”
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Union Budget 2019: How it Impacts Businesses of all Scales
The document summarizes key points from the Economic Survey of 2019 and the Union Budget of 2019. It discusses measures to provide liquidity support to non-banking financial companies (NBFCs), including allowing public sector banks to purchase high-rated NBFC assets and providing credit guarantees. It also outlines tax changes that lower corporate tax rates for small and medium enterprises. Concerns are raised about a potential slowdown in investment and manufacturing activity.
Union Budget 2017-18
The Union Budget for 2017-18 pledged relief for rural India, middle class taxpayers and small and medium-sized companies in the Union Budget 2017-18, saying the government would spend thousands of crores to double farmers' incomes, upgrade infrastructure and provide affordable housing. While unveiling the budget the Hon’ble Finance Minister emphasised that the budget is built on three pillars “Transform, Energise and Clean India”, that is, TEC India. This agenda of TEC India seeks to transform the quality of governance and quality of life of the citizens of India, energise various sections of society, especially the youth and the vulnerable sections of the society and enable them to unleash their true potential. The emphasis of TEC India is also to clean the country from the evils of corruption, black money, and non-transparent political funding. The main focus of the Budget has been to boost government expenditure in order to increase growth, and to muster employment generation.
The Finance Minister said the Indian economy was doing well despite global trends of slowing growth in other emerging economies. He also delivered a big relief to foreign portfolio investors by exempting them from indirect transfer provisions. The centre’s budget size has been pegged at Rs. 21.47 lakh crore, with an increase of 25.47 per cent in capital expenditure. As regards fiscal consolidation, the FM has targeted fiscal deficit of 3.2 per cent for 2017-18 as against earlier target of 3 per cent. For agriculture and rural sector, Mr Jaitley has increased the allocation by 24 per cent to Rs. 1.87 lakh crore for 2017-18. In the case of infrastructure, the planned public investment stood at massive Rs. 3.96 lakh crore.
We have developed an analysis of the budget, which includes opinion pieces from eminent economists and experts.
PGC Newsletter dated 25th December,2014
The document provides various news updates across different sectors. It reports that the Reserve Bank of India's Corporate Debt Restructuring cell has eased loan repayments worth Rs. 3.7 lakh crore but has refused RTI requests for information. It also notes that the Delhi High Court questioned RBI limits on ATM withdrawals and that CBI has filed charges against an income tax official for alleged bribery. Further, it outlines proposed reforms and regulatory changes in areas like provident funds, foreign investment rules, and customs duties. Market indexes are also reported as having declined.
[ TAXMANN | THIS WEEK ]
The document summarizes key developments from the previous week reported on Taxmann.com, including:
1) PM Modi announced a Rs. 20 lakh crore special economic package to make India self-reliant in response to COVID-19. Key aspects include support for MSMEs, definition changes, global tender reforms, and job creation.
2) Finance Minister Sitharaman provided details on the package, such as collateral-free loans for MSMEs, debt support for stressed MSMEs, tax changes, and support for real estate, power utilities and more.
3) Taxation measures include reduced TDS/TCS rates, extended return filing deadlines, and extensions for the
Budget changes 2011 12
The Union Budget of India is presented each year on the last working day of February. It outlines the economic planning of the Government of India for the next year. Some key points from the budget include allocating Rs. 2,14,000 crores for infrastructure development, introducing tax reforms such as the Direct Taxes Code and Goods and Services Tax, providing subsidies for certain essential goods, and strengthening measures to curb black money and corruption. The budget also proposes certain amendments to direct tax laws related to charitable organizations, infrastructure funding, investment in science research, and transfer pricing regulations.
Legal Implication of Labour Laws due to COVID 19 and Interpretation thereof
The traders and Industry were expecting more packages from the Central Govt. to reduce the burden of employers. The applicability of several labour laws has been explained here.
Newsletter on daily professional updates- 05/03/2020
"Like the muscle in our bodies,
the brain gets strong in the places where we train it."
Here is your Daily dose of professional updates 05.03.2020
Tax world reacts to interim budget 2019
Who's who of India Tax world reacts to the Interim Budget 2019 presented by the acting FM
Dinesh Kanabar Ketan Dalal sudhir kapadia Gautam Mehra TP Oswal Uday Ved Rohit Jain SUNIL KAPADIA Amit Singhania Pankaj Vasani @Amit Maheshwari Sanjay Sanghvi Tejas Desai Milind S Kothari Rajendra Nayak
Employment growth by irfan
A component of the Employment Situation Summary, reported monthly by the Bureau of Labor Statistics. The job growth figure is expressed as the gross number of jobs created in the American economy in the previous month.
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Learning is a treasure that will follow its owner everywhere
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SBI employees called off a planned two-day strike after the government agreed to increase wages and pensions. The government agreed to provide half of basic pay as pension based on 2007 pay scales instead of 2002. Wages will be increased by 17.5% benefiting 1.7 lakh employees. Jet hired around 50 pilots from Kingfisher as co-pilots and commanders due to growing demand. IDFC Mutual Fund appointed Kalpen Parekh as deputy CEO from Birla Sun Asset Management. Taurus Mutual Fund made senior appointments including Jude Abraham as head of institutional sales and Deepali Dholepatil as head of HR. IOC and ONGC will appoint independent directors such as lawyers and professors to boost corporate governance
Et news 10
Google approved pay hikes of 30% and bonuses of up to 250% of base salary for top executives in response to performance reviews and market data. Four executives will see salaries increase to $650,000 and receive equity awards between $5-20 million. Coal India may give employees a second chance to purchase company shares after many did not apply due to union pressure. Roche is cutting 4,800 jobs, or 6% of its workforce, over the next two years to reduce costs due to product setbacks and price pressure. The government will make environmental reporting mandatory for companies to encourage cleaner production methods.
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The document summarizes recent human resources related news from September 20-24, 2010. It discusses companies using employee stock option plans (ESOPs) to retain talent and comply with shareholding norms. It also mentions the appointment of Dipak Jain as the new dean of INSEAD business school and leadership changes at advertising agency Draftfcb Ulka and steel producer ArcelorMittal.
Final slides
This document analyzes the shipment and transportation costs for Vardhman Textiles' export shipments to various destinations. It includes tables showing the major shipping lines used for different ports and regions. The analysis finds that JK Logistics is more efficient than 3 ACES and provides recommendations like giving JK more business to reduce costs and lead times and diversifying business across multiple shipping lines to avoid reliance on any single line.
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Et news1
1) HUL has become a global talent export hub for Unilever, sending 40 managers abroad in 2008, 140 in 2009, and 195 in 2010.
2) HUL managers are valued for their experience working in a large, complex market like India and are moved to positions in Asia, East Europe, Africa, and Singapore.
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