The analysis shows that before the pandemic, most countries made steady progress in the creation of human capital, especially in low-income countries. However, despite this progress, a child can expect to achieve only 56 percent of their potential human development potential relative to education and health standards in an average country. World Bank group president David Malpass said, “The decade’s progress in building human capital has been put at risk by the pandemic, including health, life expectancy, school enrollment and a reduction in malnutrition.” The pandemic’s economic outbreak has been very high, especially for women and the most deprived families, with many families suffering from food insecurity and poverty. 

According to the report, it is essential to protect and invest in the people as countries are laying the foundations for sustainable and inclusive growth. Last year, India raised serious questions about the human capital index, in which India was ranked 115 in 157 countries. On asking about India’s objections last year, The World Bank’s chief economist for human development, Roberta Gatti, said that her team has worked with countries to improve the quality of data so that it can become a better index for all. She said that work has been done directly with some countries to improve the index, and India is one of them.

Mamta Murthi, vice president of human development at the World Bank Group, said that the human capital index gives a basis through which India’s Government can give priority and support to human capital.

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According to the CII survey, 50% of entrepreneurs are expected to increase their sales and new orders. However, 50% of entrepreneurs are expecting their profits to decline. According to the survey, 46% of entrepreneurs also believe that the inflation rate will increase in the coming months of the current financial year. 18% believe that the inflation rate will be reduced, and 28% believe that it is expected to remain at the same level of inflation in the coming months.

Most of the entrepreneurs are no longer expecting a change in the monetary policy of the RBI. 37% of the entrepreneurs who participated in the survey believe that the RBI will no longer cut rates. However, 20% of the entrepreneurs are expected to further cut the RBI rates by 25 basis points in the current financial year. The survey also revealed that the workers who went back to their original state due to corona are now returning rapidly. 42% of the entrepreneurs said that 75% of their laborers have returned to work. 22% of entrepreneurs are expressing the possibility of the rest of the workers returning in the coming months. 44% of the entrepreneurs have not made any change in their investment plan at the domestic level in the second quarter of the current financial year, —40% of the decline in business investment in the current quarter in India. Only 16% spoke of the increase in the domestic investment scheme in the current quarter. However, entrepreneurs are not very hopeful about their profits in the second quarter. 49% of the entrepreneurs expressed hope for a decline in their post-tax profits in the second quarter. Only 25% of entrepreneurs are expected to increase net profits in the second quarter. 26% are not expected to change the financial outcome of the company.

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Read also: Upcoming major changes in Google Pay: Know here what they are?

World Bank Human Capital Index of 2020 ranked India 116th in the list

What is the FD account? What are the benefits and how to open it

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If the job of the nominee within the Atal Bimit Vyakti Kalyan Yojna has gone through the corona crisis, he will be given an unemployment allowance. Such people will be provided 50% of their salary for three months. This help will be given to those whose jobs have gone between March 24 and December 31 this year. It may be recalled that the ESI Board has recently increased the unemployment allowance under the scheme. Earlier it was 25 percent of the salary, which has been 50 percent. This will benefit about 40 lakh employees working in the industrial sector.  The board has also given relief in the eligibility criteria of the scheme.

Recently, ESIC had also decided to extend the scheme for another year i.e., June 30, 2021. Also, the ESIC board has given beneficiaries of another major relief scheme. After 90 days of the first job, the relief amount could have been paid, now the deadline was reduced to 30 days.

How to make claim for it:

According to ESIC, the nominees within the Atal Bimit Vyakti Kalyan Yojna can put their claim directly in the branch office of the organization. As per the new conditions, instead of sending the claim to the old employer, the relief amount will be paid directly to the bank account of the insured person, which would provide immediate relief to the beneficiary.

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PNB offers prepaid cards services: Know here what it is and benefits

How to make changes in Income Tax Return (ITR) filing online or offline

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Shares of Mindtree Ltd rallied over 5 percent in early trade on Tuesday after the midcap IT company reported strong earnings for the third quarter of fiscal 2021, beating the street estimates. The company clocked a 28.7 percent sequential growth in consolidated profit at Rs 326.5 crore for the quarter ended December 2020.   Analysts polled by CNBC-TV18 had estimated a net profit of Rs 270.5 crore. Consolidated revenue rose 5.1 percent to Rs 2,023.7 crore from Rs 1,926 crore and dollar revenue rose 5 percent sequentially to $274.1 million during the quarter.  

CNBC-TV18 had an estimated revenue of Rs 2,007 crore and dollar revenue of $272 million. “Our third quarter has by far been the best performing in recent years backed by broad-based revenue growth of 5 percent across our verticals and service lines, robust margin expansion of 350 bps (basis points), and a healthy order book of USD 312 million,” Mindtree CEO and Managing Director Debashis Chatterjee said.  

He added that the company is witnessing strong business momentum across all verticals with significant demand for cloud, data and analytics capabilities. EBIT during Q3FY21 surged 18.8 percent sequentially to Rs 396.2 crore, while EBIT margin expanded by 230 bps QoQ to 19.6 percent. 

In This Article We Mentioned About:

Mindtree Stocks| Mindtree Stocks Increased |

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The circular economy starts at the design phase — you can’t remanufacture a product if it’s not designed to be recycled. For example, gluing can prevent recycling. Even black plastic can interfere, because it’s not recognized by machines at the waste management facility.” said Zoe Bezpalko, a manager of sustainable strategy at Autodesk.  

This practise consists of taking products in or near to deterioration and flipping them into being useful again. This can be done through techniques like 3-D printing. Instead of recycling to its original state, this allows the upgradation of a product making it equipped with the latest technology.  

This might sound something like the practice of refurbishing taking place since long but is quite different. For example, a refurbished Air Conditioner has still been running since say the past 5 years but the re manufactured one will be brand new in its looks and efficiency.  

The ultimate goal of the practice is the reduction of landfills. While this is still a relatively new concept, more and more companies are in attempts to adapt it and is a major part of the said circular economy.  

“Remanufacturing is a smart way to continue to advance without creating a lot of waste. The development of new technology is allowing remanufacturing to grow stronger,” Nasr said. “Most of the emission and waste from manufacturing comes from material mining and processing.” said Nabil Nasr, the director of the Golisano Institute for Sustainability at the Rochester Institute of Technology. And we completely agree! Way to go ecological developments.

In This Article We Mentioned About:

Circular Economy | What Is Circular Economy? | Why Companies are adopting Circular Economy?

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But all things good come with a price, in this case, an enormous cost of living.This relatively high cost of living provided the employees access to state-of-the-art remote-work tools. The COVID-19 pandemic has been the reason for the companies to reconsider traditional working modes and formulating future plans with decentralized staff i.e, the work from home culture.  

Up until the pandemic, the employees in Silicon Valley have been privileged with amenities ranging from free food going up until in house yoga studios if not beyond. Then why the pay cut you ask?   It is a standard practice to change wages based on the local cost of living and other factors, say the companies. This seems pretty logical as the people who live in The Valley itself face a much higher cost of living as compared to those who don’t. Also, you can’t possibly find a job paying the same high wages as Bay Area anywhere in the small cities.  

But all this comes with consequences. Cutting salaries of people who want to live in a cheaper area might lead to unhappy employees and increase the chances of quitting.   A survey by Blind for the month of September stated that over 48% weren’t in favor of pay cut if moving to a city with a lower cost of living, while 44% said they would be.  Twitter Inc., was notably the first one to announce it would allow remote working permanently. They also said that they might resort to a competitive approach to pay localization.  

In May, Facebook Inc. also announced a shift toward a substantially remote workspace over the next decade. It had also stated that the work location would mean a shift in salaries. Facebook has asked its employees to report the company of relocation plans by Jan. 1.  Last week, Microsoft announced its ‘hybrid workplace’ through a blog post. It also said that the salaries enjoyed by the employees will vary as per their location and the company’s geopay scale.   These are just a few names, companies like Stripe Inc., VMware Inc. and a few more have also taken the same approach.  Valid or not? The results will tell over the years.

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Do you think Attracting Industries To West Bengal Is A Good Part Of His Plan?  

Anti-Industrial moment is practiced in west bengal since ages. Mamta Banarjee also supported the movement and never promoted industrialization in West Bengal.  

She also led the movement against the nano plant at singur. As a result, Tata moved to gujrat. BJP has promised to get industries and create more number of jobs in West Bengal.  

Amit shah conducted a press conference and said that West bengal is lacking in all economic parameters. At the time of independence, 1/3rd of the entire GDP was coming from Bengal but it has reduced drastically due to communiest rule and tmc rule. The income was also double as compared to Maharashtra in 1960 but it stands nowhere as compared to Indian Business in other states. Home minister further asked “Who is responsible for all this?”  

Growth rate in Bengal is 1 percent since 2011 and there is scope of falling below that number. Mamta banarjee never considered this issue and said it was all rubbish and lies.  

Addressing a press conference at the end of two-day visit, Shah said that the eastern state was at 20th position in industrial growth out of 32 in India. He said the growth rate in the service sector was 5.8 per cent and it stood at 28th position. “FDI in Bengal continues to stand at just 1 per cent from 2011 till date. There is no space to fall below,”  

In This Article We Mentioned About:

Ranjan Banrjee| West Bengal Elections 2021 News 

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On Tuesday during the session of Rajya Sabha, there was a discussion related to cryptocurrency, The Minister of State For Finance Anurag Thakur said that the government is working on some steps, and soon the bill will be showcased in Union Cabinet to curb any kind of uninvited situation. A member of Rajya Sabha KC Ramamurthy from Karnataka ( Member of BJP) has raised the question in the session that whether the government has decided on any bill to curb the problem related to cryptocurrency.

In response to the question that arose in Rajya Sabha, Mr. Anurag Thakur has said that it is clear that cryptocurrency doesn’t come directly under the currencies or the asset, so the government is trying its best to frame the bill that can put control over the cryptocurrency. As the discussion speed up further, the statements were made. The bodies like RBI and SEBI doesn’t have the framework that deals with legal decisions as these can’t be termed as the currency or asset or securities.

As per the current provision, there is no law to deal with this particular type of issue. The government has set up an internal committee to deal with this particular issue. This committee of secretaries is headed by the cabinet secretary who is keeping up with each and every little information provided by the team and it has been mentioned on the report. The bill is under construction and the government has assured that the bill will be finalized soon and will come into action. There are many issues coming up due to the cryptocurrency, so bringing the bill to keep the upper hand by the government will be helpful as no one can misuse the cryptocurrency. The framework is much needed to keep control of the digital currency and keep functioning properly.

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Organizations, reeling under the Covid sway, are auditing possible changes in the compensation structure by running different models to agree with the pay code and decide remuneration costs. Expensive segments under investigation remember a review of the increment for liabilities for the advantage plans, for example, gratuity and leave encashment, especially for associations where the worker base is for the long-term.

The review increment in gratuity and leave encashment liabilities and extra Provident Fund (PF) commitments, for example, may prompt an audit of the compensation increase financial plans for 2021. Opportune Fund commitments will increment if associations embrace the extended meaning of wages as prior PF was determined distinctly on ‘fundamental compensation’ and dearness and other uncommon recompenses.

The government is putting its best efforts to enforce the 29 central labour laws into four sections, which include laws related to salaries and social security. After speaking about it Nishith Desai Associates head (HR laws) Vikram Shroff has said that labour codes are going to introduce some new and fresh concepts, but the maximum significant change is the prolonged definition of ‘salaries. “This definition is consistent across all the four labour codes and will have considerable implications for both employers and workers, with the possibility of adversely affecting take-home pay.” Was quoted by shroff.

The calculation of ‘incomes’ which comes under the new codes that include key categories such as basic pay, dearness, retaining, and special allowances. Certain classes such as HRA, conveyance, statutory bonus, overtime allowance, and commissions are for computing wages, which, under the code, must have at least 50% of the total salary of a particular individual.

As the new labor code indicates certain omissions cross 50% of the salary, then the excess amount can be considered to determine ‘salaries’ under the codes. For example, to understand it more clearly, gratuity which was previously calculated on the basic salary will be counted on the ‘salaries’ can be resulted in higher pay for that employee and larger spending at the employer’s front.

As the new labour codes will be effective from April 1, the new financial year the employer must be ready to make it effective. However, the labour code doesn’t have any such provision for the employer to change their CTC.

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Gold is viewed as support against expansion. Gold fates on MCX were down 0.33 percent or Rs 160 at Rs 47,853 for every 10 grams. Silver prospects plunged 0.88 percent or Rs 608 to Rs 68,318 for each kg. “Delay in the US dollar’s decay has squeezed gold. Additionally, burdening cost is more vulnerable to financial backer interest and improvement in the infection circumstance. Be that as it may, supporting cost is the Fed’s wary tone on the US economy and any expectations of extra US upgrade. 

Gold may observe rough exchange during the absence of new signals anyway there is a chance of revision if the US dollar figures out how to recuperate,” said Ravindra Rao, VP-Head Commodity Research at Kotak Securities. In the spot market, gold costs fell possibly by Rs 38 to Rs 47,576 for every 10 grams in the public capital on Wednesday as rupee appreciation covered the cost of the valuable metal. Couple, silver costs tumbled Rs 783 to Rs 68,884 for every kg. 

Exchanging procedure “The yellow metal was exchanging imperceptibly down on a more grounded dollar. We anticipate that gold costs should exchange sideways to up for the afternoon. MCX Gold April fates have key help at Rs. 47,800 and opposition at Rs.48,200 per 10 grams,” said Tapan Patel, Senior Analyst (Commodities), HDFC Securities. Worldwide business sectors Gold crept lower on Thursday as more fragile US expansion information reduced bullion’s allure, albeit a milder dollar and lower Treasury yields held the misfortunes under control.

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