Some of us in Marcellus were still in primary school when Indira Gandhi was the Prime Minister. In that era, our parents would give the news broadcast on Doordarshan a miss and tune into the BBC World Service’s 9pm broadcast to understand what was happening in India. Ironically, the BBC reported both Indira Gandhi’s and Rajiv Gandhi’s assassinations before India’s state run TV did.
Life has come a full circle for us because now even the private sector Indian media is as silenced as Doordarshan was in the Gandhian era. As a result, one has to once again turn to foreign media to get a more realistic perspective on matters closer to home.
In this piece, Amy Kazmin highlights, amongst other things, that: “In 2008, the then Congress-party government started a quarterly employment survey, which sampled 2,000 enterprises — each with at least 10 employees — in eight labour-intensive sectors to track trends. That has since been expanded to cover some 10,000 businesses. In 2010, the government also started an annual survey of households, asking questions about employment status, type of work, frequency and earnings, capturing trends in both formal and informal jobs.
But Mr Modi’s administration has not released the quarterly survey since March. Those results showed a paltry 136,000 new jobs from July to October 2017, far far below the numbers needed to absorb the 12m young Indians entering the labour market each year. New Delhi hasn’t released the household employment survey for the 2016-2017 financial year either, though the data is thought to have been collected.”
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Note: The above material is neither investment research, nor financial advice. Marcellus does not seek payment for or business from this publication in any shape or form. The information provided is intended for educational purposes only. Marcellus Investment Managers is regulated by the Securities and Exchange Board of India (SEBI) and is also an FME (Non-Retail) with the International Financial Services Centres Authority (IFSCA) as a provider of Portfolio Management Services. Additionally, Marcellus is also registered with US Securities and Exchange Commission (“US SEC”) as an Investment Advisor.
