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Economic Times
5 days ago
- Business
- Economic Times
Labour force survey may include migration trends
New Delhi: The statistics ministry is considering the inclusion of migration data in the Periodic Labour Force Survey (PLFS) 2026, a government official told ET."Discussions are underway to include this data point in the survey," the official migration data is expected to help identify regions with high labour demand and better inform employment and welfare strategies of government policies. Additionally, information on migrants is crucial for designing and delivering welfare schemes like the 'One Nation One Ration Card'. The initiative is part of the broader effort by the ministry of statistics and programme implementation (MoSPI) to make employment data more robust and accurate. Questions such as whether an individual moved from their previous usual place of residence and why they shifted cities or states may become part of the 2026 survey design. The data will be collected across states and is expected to be released in present, the PLFS covers indicators such as unemployment rate, labour force participation rate (LFPR), and worker population ratio across rural and urban areas. While the current design does not focus on capturing information on migration, such data was collected once during the 2020-21 say this will offer deeper insights from business as well as policy making perspective. "This will enrich the tracking of economic activity and employment trends, given the diversity of India's labour market across regions," said Sakshi Gupta, principal economist at HDFC Bank. A person is classified as a migrant if their current residence differs from their last usual place of residence."For many social welfare schemes, information on migration makes your targeting more efficient," said Gupta. Currently, the e-shram portal launched by the ministry of labour and employment tracks unorganised sector workers including migrants. A 2024 report by the Prime Minister's Economic Advisory Council stated that the number of domestic migrants declined by 11.8% to 40.2 crore between 2011 and 2023. "This was on account of improved conditions and opportunities at the places of origin," it 2020-21, the overall migration rate was 28.9%, significantly higher among women at 47.9% compared to 10.7% for men, according to the PLFS data. For women, marriage was the key reason for migration, while for men it was employment. Across regions, urban areas recorded a higher migration rate of 34.9% than rural areas at 26.5%.The ministry also aims to include age-disaggregated data on individuals not in employment, education or training (NEET) in the PLFS schedule from July, ET reported earlier.
Time of India
5 days ago
- Business
- Time of India
Labour force survey may include migration trends
The statistics ministry is considering adding migration data to the Periodic Labour Force Survey (PLFS) in 2026 to better understand labor demand and improve government policies. This inclusion aims to enhance the effectiveness of welfare schemes like 'One Nation One Ration Card'. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: The statistics ministry is considering the inclusion of migration data in the Periodic Labour Force Survey (PLFS) 2026, a government official told ET."Discussions are underway to include this data point in the survey," the official migration data is expected to help identify regions with high labour demand and better inform employment and welfare strategies of government information on migrants is crucial for designing and delivering welfare schemes like the ' One Nation One Ration Card '.The initiative is part of the broader effort by the ministry of statistics and programme implementation ( MoSPI ) to make employment data more robust and such as whether an individual moved from their previous usual place of residence and why they shifted cities or states may become part of the 2026 survey design. The data will be collected across states and is expected to be released in present, the PLFS covers indicators such as unemployment rate , labour force participation rate (LFPR), and worker population ratio across rural and urban areas. While the current design does not focus on capturing information on migration, such data was collected once during the 2020-21 say this will offer deeper insights from business as well as policy making perspective."This will enrich the tracking of economic activity and employment trends , given the diversity of India's labour market across regions," said Sakshi Gupta, principal economist at HDFC Bank A person is classified as a migrant if their current residence differs from their last usual place of residence."For many social welfare schemes, information on migration makes your targeting more efficient," said the e-shram portal launched by the ministry of labour and employment tracks unorganised sector workers including migrants.A 2024 report by the Prime Minister's Economic Advisory Council stated that the number of domestic migrants declined by 11.8% to 40.2 crore between 2011 and 2023. "This was on account of improved conditions and opportunities at the places of origin," it 2020-21, the overall migration rate was 28.9%, significantly higher among women at 47.9% compared to 10.7% for men, according to the PLFS data. For women, marriage was the key reason for migration, while for men it was employment. Across regions, urban areas recorded a higher migration rate of 34.9% than rural areas at 26.5%.The ministry also aims to include age-disaggregated data on individuals not in employment, education or training (NEET) in the PLFS schedule from July, ET reported earlier.
Time of India
11-06-2025
- Business
- Time of India
How a top bank's employee stole Rs ₹4.5 cr from customers
How a top bank's employee stole Rs ₹4.5 cr from customers Rajesh Sharma Updated: Jun 11, 2025, 18:56 IST Sakshi Gupta's arrest for a massive ICICI Bank fraud in Kota is just the tip of a deeper crisis. Insiders misusing access, weak digital safeguards, and a surge in fraud cases is threatening public trust in India's banking system At a time when banks are routinely urging customers to beware of cybercriminals, what happens when the fraudster is the one who is sitting behind the desk and is actually the one entrusted with your financial life? On February 18 this year, the branch manager of ICICI Bank 's DCM branch in Kota, Rajasthan, arrived at Udyog Nagar police station with a shocking complaint. Over a period of two and a half years, a former employee — relationship manager Sakshi Gupta — had allegedly siphoned off Rs 4.58 crore from over 110 accounts belonging to 41 customers.
Time of India
10-06-2025
- Business
- Time of India
RBI to stop daily variable rate repo auctions on surplus liquidity
Mumbai: The Reserve Bank of India on Monday said it will discontinue the daily variable rate repo ( VRR ) auctions – a window that allows banks to borrow from the central bank daily – from June 11, considering surplus liquidity in the banking system. The RBI had introduced daily VRR auctions on January 16 to support banks against the liquidity deficit seen in the system then. The system has had a daily average surplus liquidity of Rs 2.75 lakh crore so far in June, taking system liquidity above 1% of net demand and time liabilities (NDTL). Liquidity has been in surplus since late March. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo 'Given the surplus – above 1% of NDTL – the need to do additional liquidity injection is not there,' said Sakshi Gupta, principal economist at HDFC Bank . Additionally, yields on benchmark paper rose six basis points to 6.35% after the change in monetary policy stance to 'neutral' last week, signalling a slow cycle ahead. Live Events 'The daily auctions were done to stabilise liquidity. So, now that it has happened, they (RBI) withdrew the daily auctions,' said Madan Sabnavis, chief economist at Bank of Baroda . 'This also falls in line with the fact that no new OMOs (open market operations by the central bank to manage liquidity) are announced. Now, whoever has to borrow will go to the call market, which is what the RBI wants to deepen,' he added. In April, RBI governor Sanjay Malhotra had said the central bank would aim for a range near 1% of NDTL as a target for surplus liquidity in the system. Sentiments in the bond market, however, turned slightly negative after the bumper reduction in policy rates on Friday and changing of stance to 'neutral'. Possible triggers of stop losses for institutions may have added to the pressure on yields, which closed at 6.35% on Monday, up from its previous close of 6.29%, according to CCIL data. Stop loss is an automated trading instruction to buy or sell a security once its price reaches a predetermined 'stop price'. 'Bonds are trading with a negative sentiment, now that the terminal rate is in sight. Markets and analysts thought that we would see cuts till mid FY26, but after this policy, that view has changed,' a bond trader from a primary dealership said. 'I also think stop losses for some may have been triggered, which added to the selling of bonds.'
Time of India
09-06-2025
- Business
- Time of India
Electricity & housing indices to be tweaked in revised CPI by adding fixed & meter charges
The government plans to revamp the electricity index in the Consumer Price Index (CPI) to capture slab-wise power consumption in the country, people familiar with the development told ET. The move is a part of the overhaul of the current CPI to better capture price trends and the cost of living. Currently, electricity prices in the CPI are recorded on a per unit volume basis. The revised index will also incorporate fixed and meter charges, providing a more accurate picture of electricity consumption and its cost to people. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The price of dental implants may surprise you Dental Implants | Search Ads Search Now Undo ET Bureau "Moving towards a slab rate system will give a better reflection of consumption than using the average per unit cost. It will offer a more comprehensive view in terms of the burden on households," said Sakshi Gupta, principal economist at HDFC Bank . She added that this will also allow the CPI basket to better capture seasonal variations. For instance, during summers, electricity usage typically rises in the North, which the slab-wise data will capture better, Gupta explained. "If you are using per-unit cost, then you are not capturing the increase in consumption." Live Events Electricity accounts for 2.26% weightage in the CPI. The electricity index recorded an average inflation of 6.4% in FY25 compared to 9.7% in FY24. The Housing Index will also undergo changes in the new CPI series, set to be released in the first quarter of 2026. Under the revamped series, the housing index will exclude employer and government provided accommodation, ET has learnt. "The current house price index underestimates the money spent on housing," noted Gupta. Although government-provided housing accounts for a lower share of the CPI basket and does not reflect the overall market, it tends to influence the headline inflation. Housing inflation declined to 2.8% in FY25 from 3.9% in FY24. "Rentals in non-government and non-employer housing are significantly higher, as recent trends from other price indices or anecdotal evidence have shown," said Gupta. Housing accounts for 10.07% weight in the CPI. The current CPI series, with a base year of 2012, covers only the urban sector. The new series will also include a rural housing index, as consumption surveys indicate spending on house rents in rural areas.
