Jagmoha Garg News Delhi India has lost 550 jobs a day in last 4 years: Study

As many as 550 have disappeared every day in last four years and if this trend continues, employment would shrink by 7 million by 2050 in the country, a study has claimed.


Farmers, petty retail vendors, contract labourers and construction workers are the most vulnerable sections facing never before livelihood threats in today, the study by Delhi-based civil society group PRAHAR has said.


According to the data released by Labour Bureau early 2016, created only 1.35 lakh in 2015 in comparison to 4.19 lakh in 2013 and 9 lakh in 2011, the group said in a statement.


“A deeper analysis of the data reveals a rather scary picture. Instead of growing, livelihoods are being lost inon a daily basis. As many as 550 are lost inevery day (in last four year as per Labour Bureau data) which means that by 2050, in would have got reduced by 7 million, while population would have grown by 600 million,” the statement said.


The data clearly points to the fact that job creation in is successively slowing down, which is very alarming, it pointed out.


“This (rise in unemployment) is because sectors which are the largest contributor of are worst-affected. Agriculture contributes to 50 per cent of employment in followed by SME sector which employs 40 per cent of the workforce of the country,” the statement said.


The organised sector actually only contributes a minuscule less than one percentage of employment in India. has only about 30 million in the organised sector and nearly 440 million in the unorganised sector.


According to the World Bank data, percentage of employment in agriculture out of total employment in has come down to 50 per cent in 2013 from 60 per cent in 1994.


It said that the labour intensity of small and medium enterprises is four times higher than that of large firms.


It further said that the multinationals are particularly capitalistic a fact vindicated during investment commitments of $225 million made for the next five years during the Make in Week in February 2016.


However, what went unnoticed is that these investments would translate into creation of only 6 million jobs, it said.


needs to go back to the basics and protect sectors like farming, unorganised retail, micro and small enterprises which contribute to 99 per cent of current livelihoods in the country. These sectors need support from the Government not regulation. needs smart villages and not smart cities in the 21st century,” it added.
SOURCE: http://www.business-standard.com/article/current-affairs/7-million-jobs-can-disappear-by-2050-says-a-study-116101600378_1.html

Jagmohan Garg News Delhi PM’s new health insurance scheme may cost over Rs 8000 crore

Insurance agents: Exits outnumber entry

Prime Minister National Scheme, which is under consideration for providing up to Rs 1-lakh health cover to poor families, may bring Rs 8000 crore income for insurance companies.


Currently, the poor (below-poverty-line) families are covered under Rashtriya Swasthya Bima Yojana (RSBY) for up to Rs 30,000 expenses. There were 11.8 million hospitalisations under the RSBY scheme till the end of last the financial year. RSBY will be phased out once the PM’s new health scheme is rolled out.


“Health ministry will require at least Rs 4,000 crore to Rs 5,000 crore budgetary support in order to pay the insurance premium,” a health ministry official said. “The centre will be responsible for disbursing 60% of thefor the scheme, while the states will be responsible for the rest,” he said. This would mean higher contribution from most of the states who currently bear only 25% of the cost for cover under RSBY. The contribution of Northeastern states and Jammu & Kashmir to the for coverage under RSBY is even lower at 10%.


The health ministry is now preparing the guidelines for the scheme. It also plans to start the process to empanel insurance companies and hospitals for the scheme soon. A cabinet note is in the making to lay down all the rules for companies to participate in the scheme, said the official.


The scheme was first announced this year by the prime minister Narendra Modi on the independence day. The number of people covered under has crossed over 36 crore as per Insurance Regulatory and Development Authority, most of them are under government schemes.
SOURCE: http://www.business-standard.com/article/economy-policy/pm-s-new-health-insurance-scheme-may-cost-over-rs-8000-crore-116101600381_1.html