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India to see 10% pay hike in 2019: Report - 18 January 2019
MUMBAI: There’s good news on the salary front. Management consulting firm Korn Ferry has predicted salaries would increase by 10% in India this year as compared to 9% in 2018. Inflation-adjusted real-wage increases are expected to inch up to 5% from 4.7%.
India leads the salary growth forecast in Asia, with pay increases in the country nearly double those in Asia. According to the Korn Ferry forecast, salaries in Asia are expected to increase by 5.6%, up from 5.4% last year. “Consequent to rapid economic growth, India continues to enjoy the highest overall salary increases and real-wage growth in Asia,” said Navnit Singh, chairman & regional managing director, Korn Ferry India. (full story) |
How India’s economy smoothly navigated troubled wa - 18 January 2019
Given its integration with the world economy, India cannot continue to grow rapidly as global growth declines
is an economist
ABHIJIT BHATELKAR/MINT
The economic outlook is gloomy. However, let me start on a positive note. The advance estimates of national income indicate that real gross domestic product (GDP) will grow at 7.2% in FY 2018, up from 6.7% last year. The advance estimates, based on data for the first six months and up to November for some indicators, are a fair assessment of the likely outcome. The earlier projections of the Reserve Bank of India (RBI), the International Monetary Fund (IMF) and the World Bank are also all higher than the advance estimates. Hence, barring any major shock in the next 10 weeks, it is quite likely that the year will end with at least 7% growth. This robust growth is also fairly diversified with more than 8% growth in manufacturing and 9% growth or more in electricity and other utilities, construction, and public services.
It is particularly encouraging that the growth upturn is being led by the recovery of investment instead of debt-financed consumption as in the recent past. After stagnating for several years, quarterly growth of gross fixed capital formation (GFCF) has been recovering since the second quarter of FY 2017. It is now estimated to grow by 12.2% in real terms in FY 2018 compared to 7.6% in FY 2017. The investment rate, which had declined to 31%, is now estimated to be back up to 33%. (full story) |
RIL Q3 result: Flat profit, rising debt are a grow - 18 January 2019
While Reliance Jio and Reliance Retail are growing at a brisk pace, the heavy lifting—as far as driving growth goes—stays with the mainstay refining and petrochemical businesses
Shares of Reliance Industries Ltd (RIL) have risen 22% in the past year, compared to a 6% decline in the Nifty 500 index. This is despite the fact that refining margins are subdued right now and spreads in the petrochemicals business have come off. While the consumer businesses—Reliance Jio Infocomm Ltd and Reliance Retail—are growing at a brisk pace, they account for roughly a fifth of overall profits. As such, the heavy lifting, as far as driving growth goes, stays with the mainstay refining and petrochemicals businesses. (full story) |
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