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In January 2020 before the pandemic, World Bank had pointed to virtually same growth in real GDP in India (5.8%) and China (5.9%) in 2020. By January 2021, its revised estimates suggest -9.6% degrowth for India and 2% growth for China

The government had imposed a lockdown to curb the spread of the pandemic but this impacted economic and commercial activities and resulted in job loss and later on the exodus of migrant workers which rocked the entire nation

Domestic and external demand have been improving since the easing of lockdown restrictions and added that private consumption and non-residential investment will pick up over the next few quarter.

The total withdrawal from EPF account stood at Rs 73,498 crore between April and December 2020 compared to Rs 55,125 crore during the same period last year

In January, the then President Donald Trump had extended the ban on issuing of new H-1B visas till March 31 arguing that the country is having a very high unemployment rate and the US cannot afford to have more foreign workers

Congress' chief spokesperson Randeep Surjewala said the third quarter GDP data proves yet again that fault lines in the Indian economy are more visible than ever before

Persistent negative growth in rural wages and soaring corporate profits accompanied by job and wage cuts demonstrate a clear disconnect between growth/profits and wellbeing of ordinary Indians

To emerge stronger, it is important for us as a country to bridge the gap between policy announcements and their implementation by strengthening and empowering institutions to bolster economic growth

The unemployment rate declined to 6.5 per cent in January 2021 from 9.1 per cent in December 2020, while the employment rate surged to 37.9 per cent as compared to 36.9 per cent, says CMIE

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The proposed programme can create sustainable livelihoods for 18 lakh educated youth, in addition to enabling MSE growth and indirect job creation and consequent economic growth, the report said

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Employment in India contracted by 2.8 per cent, compared to a drop of 23.9 per cent and 2.6 per cent recorded in June and September quarters, respectively

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While companies' income declined 6.9 per cent, costs on raw materials and purchase of finished goods -- biggest expense head -- declined by a much bigger margin at 18.9 per cent. In view of Covid curbs, expenses on salaries grew 3.4 per cent but other expenses fell 9 per cent

The CMIE projected that employment in India will decline by 2.5 per cent to 395 million in December quarter of FY21, compared to 405 million in the year ago period

Sectorally, gains in financials, banking, realty and pharma index were capped by losses in media, metal, FMCG, PSU banks and IT scrips

On month-on-month basis, employment declined by 0.9 per cent or 3.5 million in November, as against 0.1 per cent or 0.6 million fall registered in October

The central bank, however, cautioned that the positive assessment depends a great deal on the spread of coronavirus in coming days and progress on vaccine development front