ECONOMY UPDATE!!

NEW YEAR CHEER IN JOB STREET, HIRING RISES ACROSS SECTORS

Reversing back the sluggish trend witnessed in the previous month, positive hiring activity was witnessed across all key industry sectors in January over December 2011.

The Naukri Job Speak index - an indicator of online job demand - for January 2012 stood at 1,121, which is 4 per cent higher than the December 2011 index and 16 per cent more than the January 2011 index.

A sectorwise analysis shows that ITeS, oil & gas and telecom witnessed the strongest hiring trends, where recruitment improved by 19 per cent, 18 per cent and 16 per cent respectively, the report said.

City-wise, New Delhi maintained strong hiring trends where hiring improved by 10 per cent compared to the previous month, followed by Bengalore (9 per cent), Chennai (8 per cent). 

Kolkata, Mumbai maintained steady hiring levels while both Hyderabad and Pune saw the index moving up by a minor 6 per cent respectively in January 2012 over December 2011, the report said.

SLOWDOWN HITS INDIA'S GROWTH, GDP TO SINK TO 6.9%

The economic growth is likely to fall to a three-year low of 6.9 per cent in 2011-12, mainly due to sharp slowdown in manufacturing, agriculture and mining sectors, against 8.4 per cent expansion in the last fiscal.

Agriculture and allied activities are likely to grow at 2.5 per cent in 2011-12, compared to a robust growth of 7 per cent in 2010-11, according to the Advanced Estimates released  by the Central Statistical Organisation (CSO).

Manufacturing growth is also expected to drop down to 3.9 per cent in this fiscal from 7.6 per cent last year.

INDIA SHINING: PER CAPITA INCOME TO CROSS RS 60,000!

Reflecting general rise in living standard, India's per capita income is estimated to grow above Rs 60,000 per annum or over Rs 5,000 per month, said the government data.

"The per capita income at current prices during 2011-12 is estimated to be Rs 60,972 compared to Rs 53,331 during 2010-11, showing a rise of 14.3 per cent," said the Advanced Estimates of National Income released by the Central Statistical Office (CSO)