2018 wage growth uk

The Economic Survey 2018-19 has called for rationalising minimum wages in the country with Centre notifying a national floor level minimum wage to enable bottom rung wage drive up the aggregate demand in the country. “A well-designed and effective implementation of minimum wages will strengthen the trend towards decreasing wage inequality especially at lower levels. This becomes all the more significant as women constitute the majority of the bottom rungs of the wage distribution,” the Economic Survey 2018-19 said. Finance minister Nirmala Sitharaman tabled the survey in Parliament today. Än effective minimum wage policy that targets the vulnerable bottom rung of wage earners can help in driving up aggregate demand and building and strengthening the middle class, and thus spur a phase of sustainable and inclusive growth,” it said. According to the Survey, central government should notify a “national floor minimum wage” that can vary broadly across … [Read more...] about Economic Survey calls for rationalising minimum wages

LONDON: UK Chancellor Rishi Sunak has set out the UK government's plans to taper off the Coronavirus Job Retention Scheme from August as the economy gradually opens up from the pandemic lockdown. The Indian-origin finance minister on Friday said the furlough, or forced leave, scheme, under which the UK taxpayer covered 80 per cent of the wages of nearly a million jobs, will begin to wind down with employers asked to contribute a "modest" proportion of those costs from August before it ends in October. “The furlough scheme cannot continue indefinitely. Employers will be asked to contribute, alongside the taxpayer, to pay the wages of their staff,” said Sunak, as he highlighted that no British government in history had undertaken a scheme at such a scale. “From July 1, a flexible furlough will be in place. Employers will have maximum flexibility to decide to bring back employees for a number of days per week,” he said. As part of the changes, in June and July, … [Read more...] about UK’s COVID-19 job saving scheme to taper off from August: Rishi Sunak

Senior Congress leader P Chidambaram, however, slammed the central government, saying the latest figures were a "telling commentary on the economic management of the BJP government", adding "Remember, this is pre-lockdown. Of the 91 days of Q4, lockdown applied to only to 7 days." … [Read more...] about India’s economic growth slows to 3.1% in January-March amid COVID-19 crisis

“In view of nationwide lockdown during April 2020 due to COVID-19 pandemic, various industries - Coal, Cement, Steel, Natural Gas, Refinery, Crude Oil etc experienced substantial loss of production,” the ministry said in a statement. … [Read more...] about GDP growth dips to 3.1% in January-March; 4.2% in 2019-20

The Reserve Bank had pegged the GDP growth for 2019-20 at 5 per cent as projected by the NSO in its first and second advance estimates released earlier this year in January and February respectively. … [Read more...] about India GDP growth dips to 3.1% in Jan-Mar; 4.2% in 2019-20