ECONOMY

Monthly Archives: SEPTEMBER 2017


ONE YEAR EXTENSION
Arvind Subramanian gets extension as Chief Economic Advisor
23.09.17 - TEAM PT
Arvind Subramanian gets extension as Chief Economic Advisor



CHEIF ECONOMIC ADVISER Arvind Subramanian will get a one-year extension, the Finance Ministry announced Saturday. His three-year tenure was due to end on October 16 this year.

Interacting with reporters today, Jaitley said Subramanian will get one-year extension. 

The BJP-led NDA government's 5-year term ends in May 2019. 
 
The Ministry had, earlier in the week, denied that Subramanian was resigning after media outlets reported he might do so before his tenure was completed.

The CEA is usually the main go-to person for advice for the finance minister on macro-economic matters, and primary responsibilities, among others, include authoring the mid-year analysis and the Economic Survey. 
 
Subramanian's predecessor was Raghuram Rajan, who quit the position in September 2013 after being appointed the Governor of the Reserve Bank of India (RBI). 

Subramanian’s term as CEA has been marked by dynamic suggestions and analysis to do with the economy — including coining of the term ‘JAM trinity’ (for Jan Dhan, Aadhaar, and Mobile) and elaborating on its benefits.

The CEA has also mooted the idea of a ‘bad bank’ to deal with the persistent problem of non-performing assets (NPAs) afflicting the balance sheets of banks and corporates, and of a Universal Basic Income.
 
Subramanian graduated from St Stephen's College, Delhi, and got an MBA from the Indian Institute of Management, Ahmedabad. He obtained M.Phil and D.Phil from the University of Oxford, UK.
 
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Disclaimer : PunjabToday.in and other platforms of the Punjab Today group strive to include views and opinions from across the entire spectrum, but by no means do we agree with everything we publish. Our efforts and editorial choices consistently underscore our authors' right to the freedom of speech. However, it should be clear to all readers that individual authors are responsible for the information, ideas or opinions in their articles, and very often, these do not reflect the views of PunjabToday.in or other platforms of the group. Punjab Today does not assume any responsibility or liability for the views of authors whose work appears here.

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Punjab Today believes in serious, engaging, narrative journalism at a time when mainstream media houses seem to have given up on long-form writing and news television has blurred or altogether erased the lines between news and slapstick entertainment. We at Punjab Today believe that readers such as yourself appreciate cerebral journalism, and would like you to hold us against the best international industry standards. Brickbats are welcome even more than bouquets, though an occasional pat on the back is always encouraging. Good journalism can be a lifeline in these uncertain times worldwide. You can support us in myriad ways. To begin with, by spreading word about us and forwarding this reportage. Stay engaged.

— Team PT





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Robots To Steal Jobs
7 lakh Indians to go jobless in IT sector
07.09.17 - TEAM PT
7 lakh Indians to go jobless in IT sector



About 7 lakh low-skilled workers in IT and BPO industry in India are likely to lose their jobs to automation and artificial intelligence by 2022, says a report by US-based research firm HfS Research. 
 
The report says a rise in adoption of automation and artificial intelligence would lead to a fall in the number of low skilled workers in India’s IT and BPO service sectors from 2.4 million in 2016 to 1.7 million in 2022.
 
However, it is not a bad news for everyone, as the report predicts that medium and high skilled jobs will see a rise during the said period.
 
The number of medium-skilled jobs in IT/BPO industry in India could rise from 9,00,000 to 10,00,000 by 2022, while the number of high-skilled jobs could rise to 5,10,000 in 2022 from 3,20,000 in 2016.
 
The prediction for IT and BPO/Jobs in India are in line with the global trends. Across the world, increasing adoption of automation and artificial intelligence is predicted to kill around 31% low skilled jobs in this sector, while the medium skill jobs may rise by 13 per cent and high skill jobs by 57 per cent. Globally, the adoption of automation and artificial technology are predicted to lead to a 7.5% fall in jobs, majorly hitting countries like India, the US and the UK.
 
According to the report, Robotic Process Automation (RPA) is merely accelerating the elimination of rote jobs (routine jobs). "The emergence of RPA is eventually going to sound the death knell for most high-throughput, high-intensity jobs, as both service providers and enterprises master the ability to apply these technologies effectively," it said.

It further said, "the next five years we can manage, it's the five after that when the impact on labour becomes much more challenging."
 
The report said that in order to encash the increase of high-skilled IT jobs, which are set to grow by 57% in the next five years, near about 20% of the current IT force must be reskilled while we still have time.

"While companies are taking time to build the impact of RPA into service contracts … Time is on our side to manage the transition and train staff for the future,” the report said.

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Disclaimer : PunjabToday.in and other platforms of the Punjab Today group strive to include views and opinions from across the entire spectrum, but by no means do we agree with everything we publish. Our efforts and editorial choices consistently underscore our authors' right to the freedom of speech. However, it should be clear to all readers that individual authors are responsible for the information, ideas or opinions in their articles, and very often, these do not reflect the views of PunjabToday.in or other platforms of the group. Punjab Today does not assume any responsibility or liability for the views of authors whose work appears here.

 ____________________________________________________

Most shared Punjab Today articles:

RELAX! ALL 30 WERE DERA PREMIS: The utter absence of any questions about the death of 30 people on the roads of a city reeking of wealth says something stinking about its conscience.

LET'S KILL PAASH: Dr Sumail Singh Sidhu unravels the layers of the latest row about the revolutionary poet’s work and asks why is Paash being summoned from the ashes to answer our allegations?

THE BLOODY VILLAIN OF PARTITION: As Radcliffe drew a line between India and Pakistan, resulting in 600,000 lives lost and 14 million displaced, we revisit the key question: Were the massacres avoidable, preventable?

A DOKLAM IN EVERY FIELD: Farmers not only produce food. They produce peace. And agitated farmers are no guarantee of a lasting peace. Not every danger lurks at Doklam. 
TO SUKHBIR SINGH BADAL, SINCE NO ONE ELSE WILL SAY IT: Speaking truth to power, and asking some tough questions to a party that refuses to behave like one. Does it even register the sense of a loss?

DECONSTRUCTING NAVJOT SINGH SIDHU: This is a duel -- pistols drawn, hands on hip, 20 steps across, aim taken, fingers on trigger. Right now, it looks like Amarinder has forgotten his gun home. Sidhu is itching to shoot. 

SURGICAL STRIKE YOU DID NOT KNOW ABOUT: Indian jawans killed everyone at this forward post of Pakistan and brought back seven bodies besides a trophy signed by Musharraf.

PUNJAB: AN IDEA IN SEARCH OF WORDS: The English writing on Punjab has constructed an urbane Punjabi universe. Punjab is more than a poster boy of progress or a renegade from the promise of modernity.
-------------

Punjab Today believes in serious, engaging, narrative journalism at a time when mainstream media houses seem to have given up on long-form writing and news television has blurred or altogether erased the lines between news and slapstick entertainment. We at Punjab Today believe that readers such as yourself appreciate cerebral journalism, and would like you to hold us against the best international industry standards. Brickbats are welcome even more than bouquets, though an occasional pat on the back is always encouraging. Good journalism can be a lifeline in these uncertain times worldwide. You can support us in myriad ways. To begin with, by spreading word about us and forwarding this reportage. Stay engaged.

— Team PT




[home] 1-2 of 2


Comment

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comments*
You may use these HTML tags:<p> <u> <i> <b> <strong> <del> <code> <hr> <em> <ul> <li> <ol> <span> <div>

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