Explore Business Standard
Don’t miss the latest developments in business and finance.
The Congress on Friday slammed the government over an International Labour Organisation report pointing to wage inequality in India, claiming this is a direct consequence of Prime Minister Narendra Modi's "pakoda-nomics" which is about 'pakodas' for the masses and 'halwa' for the chosen few. Congress general secretary in-charge communications Jairam Ramesh said the International Labour Organisation's just released Global Wage Report 2024-2025 has some concerning findings about wage inequality in India. Citing the report, he said the top 10 percentile of India's income-earners earn 6.8 times more than the bottom 10 percentile. "This is significantly more unequal than nearly every country in our neighourhood, including Pakistan, Bangaldesh, Bhutan, Nepal, and Myanmar," Ramesh said in a post on X. He further cited the report to state that India has one of the lowest share of wage-workers among all lower-middle-income countries. Most workers are engaged in self-employment which is ...
The BRICS countries need to urgently expand trade with each other rather than with the rest of the world, a top official of the International Labour Organisation (ILO) has said and offered technical support from the UN agency towards the realisation of such a goal. BRICS includes Brazil, Russia, India, China and South Africa. Jens Dyring Christensen, Senior Specialist in Enterprise Development and Management at the ILO, made the comment on Wednesday while speaking on the topic 'BRICS Productivity Ecosystems' at the bloc's second Employment Working Group (EWG). What we find is that trade with the United States is six times higher than within BRICS member states. What is needed is to expand inter-BRICS trade, he said. The meeting, which took place in South Africa's Port Alfred, is one of several preparatory ones ahead of the BRICS Summit scheduled to take place in Johannesburg in August. The heads of state of the five partner countries in the bloc are all expected to attend the ...
Comptroller and Auditor General of India (CAG) has been selected as external auditor of the International Labour Organization (ILO), Geneva for a four-year term from 2024 to 2027, the apex auditor said in a statement on Thursday. Girish Chandra Murmu is the CAG. CAG will take over from the incumbent external auditor of ILO, Supreme Audit Institution of Philippines. "CAG's appointment is a recognition of its standing among the international community as well as its professionalism, high standards, global audit experience and strong national credentials," it said. Giving details, the CAG said ILO had formed a selection panel for appointment of external auditor and invited bids from the Supreme Audit Institutions (SAIs). Based on the technical experience and other criteria, the ILO shortlisted three Supreme Audit Institutions (India, Canada and United Kingdom) for technical presentations. In Geneva, a three-member team from CAG of India presented the strengths, approach and skill se