India's unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed
India's unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed on Monday.
The unemployment rate rose to 7.9% in December from 7.0% in November, its highest since 8.3% in August.
Economic activity and consumer sentiment have been hit in the South Asian nation after a rise in cases of the Omicron coronavirus variant and social distancing restrictions in many states.
Urban unemployment rate rose to 9.3% in December from 8.2% in the previous month while the rural unemployment rate was up 7.3% from 6.4%, the data showed.
Many economists worry that the Omicron variant could reverse the economic recovery seen in the previous quarter.
Mumbai-based CMIE data on unemployment is closely watched by economists and policymakers as the government doesn't release monthly figures.
According to the RBI, banks have written off over Rs 2 lakh crore of bad loans in the fiscal ended March 2021. Find out more about the types of loans and when they are categorized as bad People borrow money for various reasons. It could be to expand their business, to fund higher education, to buy a home or car, to get a ring for their girlfriend or wife. Loans generally fall into two categories, secured and unsecured. Let us first understand what a secure loan is. Secured loans are those for which a borrower keeps some asset as surety or collateral to borrow money. Collateral can be your car, your home, or anything that is valuable. It simply means that in the event of default, the lender can use the asset to repay the funds it has advanced the borrower. Common types of secured loans are mortgages and auto loans, in which the item being financed becomes the collateral for the financing. With a car loan, if the borrower defaults on the payment, the loan issuer can seize the vehicle. Wh...
The deadline for filing IT return is drawing close. Many wait till the last moment to finish the exercise, but that is not advisable. Find out the different categories of ITR forms that taxpayers fill Economy & Policy : For individuals who are not subject to audit, the income-tax return filing deadline for the financial year 2020-21 was extended by three months from September 30 to December 31. It was first extended from the usual deadline of July 31 because of glitches in the new income tax portal developed by Infosys. Taxpayers also have the option to choose between the old and new income tax regimes while filing the return. Those who choose the new regime will not be able to claim certain deductions such as the standard deduction, house rent allowance and those under Section 80C and 80D. It is also important to select the right ITR form based on your sources of income and residential status. For instance, ITR-1 can only be used by a resident individual having an income of up to ...
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