Tag: Sector

  • Govt Approves Rs 329 Cr Project To Achieve Self Reliance In Mutton Sector

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    JAMMU: In view of huge mutton usage in Jammu and Kashmir, especially in the Kashmiri cuisine and in order to reduce meat import in the Union Territory, the government has approved an ambitious Rs 329 crore project for next five years to achieve self reliance in Mutton sector.

    The project is aimed at creating 6000 jobs besides setting up of 122 enterprises in the mutton sector in the Union Territory.

    The initiative also envisages achieving self-reliance in the mutton sector through a combination of innovative interventions including vertical upgrades, horizontal expansion besides focused attention on health cover and nutrition. One of the major interventions planned is import of muttonous breeds, which will lead to establishment of 72 breed-based farms to provide high genetic merit to animals. Additionally, the project aims to conduct 1,00,000 Artificial Inseminations (AIs) annually and establish 400 new commercial farms every year. The project also focuses on clusterization, creation of mandis, abattoirs and common facility centers (CFCs), to support marketing and value addition of the sector.

    “Investing in growth and improvement of mutton sector in J&K is not only about boosting production and reducing import costs, but it is also about providing quality and safe meat to consumers, improving the livelihoods of traditional farmers besides creating new job opportunities in the region,” said Atal Dulloo, Additional Chief Secretary, Agriculture Production Department.

    He added: “Apart from increase in production and productivity forward linkages, which are acutely lacking in the sector, will be established through formation of 50 Farmer Producer Organizations and Self Help Groups with linkage to 10 new abattoirs and in-built value chains integrated with 10 sheep mandis and 50 CFCs.

    Mutton has been an essential part of the Kashmiri cuisine for generations and Jammu and Kashmir, with its rich cultural heritage and diverse geography, has a significant demand for mutton. Despite the regions competitive advantage and potential to become self-reliant in the mutton sector, there is a shortfall of 41 per cent leading to an import bill of ₹1400 crore every year. Additionally, the existing mutton production is not only of insufficient quantity but also lacks quality and is not FSSAI compliant, putting consumers at risk.

    The majority of the livestock population is held by Bakerwals who follow traditional methods of farming, resulting in low productivity and profits. The UT has less than five breeds of sheep with the majority being dual purpose breeds such as Kashmir Merino, Rambouillet, and Corriedale. However, there is increasing demand for fast-growing mutton breeds like Dorper, Romnov, South Down and others.

    ‘Reorienting priorities: Self-Sustenance in mutton production’ is one among the 29 projects, which were approved by the Jammu and Kashmir administration after being recommended by the UT Level Apex Committee for holistic development of Agriculture and allied sectors in UT of J&K. The prestigious committee is being headed by Dr Mangala Rai, Former DG ICAR and has other luminaries in the field of Agriculture, Planning, Statistics & Administration like Ashok Dalwai, CEO NRAA, Dr. P. K Joshi, Secretary, NAAS, Dr. Prabhat Kumar, Horticulture Commissioner MOA & FW, Dr. H. S Gupta, Former Director, IARI, Atal Dulloo, Additional Chief Secretary, APD besides Vice Chancellors of the twin Agriculture Universities of the UT.

    The expected output from the project included import of 2700 high genetic merit/elite sheep and goats, increased lambing percentage from 80 to 120 and considerable reduction in marketable age for sheep and goats (40-50 kg in 6 months). The germplasm of the elite animals will be propagated through artificial insemination and embryo transfer techniques to intensify genetic conversion. The project aims to double the farm income through early weight gain, improved carcass yield and production and reduce lamb mortality. Effective health cover is expected to prevent production losses by 20-30% and provide consumers with safe and quality meat.

    The project is anticipated to bring significant benefits to farmers and consumers in Jammu and Kashmir. The creation of commercial farms and establishment of breed-based farms will boost mutton production and improve the quality of meat available to consumers. The marketing and value addition initiatives will help farmers get better returns for their produce, while health cover and nutrition interventions will reduce production losses and improve the overall well-being of the animals. The project will also create job opportunities and promote entrepreneurship, contributing to the economic development of the region.

    Ultimately, the project which is aimed at to achieve self-reliance in the mutton sector in Jammu and Kashmir, is a crucial step towards meeting the growing demand for mutton in the region. The project also intends to address the shortcomings in the existing mutton production and provide consumers with safe and quality meat. The project is also likely to bring numerous benefits to farmers and consumers, create job opportunities and contribute towards overall economic development of the region.

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    #Govt #Approves #Project #Achieve #Reliance #Mutton #Sector

    ( With inputs from : kashmirlife.net )

  • J&K Govt approves Rs 329 cr 5 year project to achieve self reliance in Mutton sector

    J&K Govt approves Rs 329 cr 5 year project to achieve self reliance in Mutton sector

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    JAMMU, FEBRUARY 12: In view of huge mutton usage in Jammu and Kashmir, especially in the Kashmiri cuisine and in order to reduce meat import in the Union Territory, the government has approved an ambitious Rs 329 crore project for next five years to achieve self reliance in Mutton sector.

    The project is aimed at creating 6000 jobs besides setting up of 122 enterprises in the mutton sector in the Union Territory.

    The initiative also envisages achieving self-reliance in the mutton sector through a combination of innovative interventions including vertical upgrades, horizontal expansion besides focused attention on health cover and nutrition. One of the major interventions planned is import of muttonous breeds, which will lead to establishment of 72 breed-based farms to provide high genetic merit to animals. Additionally, the project aims to conduct 1,00,000 Artificial Inseminations (AIs) annually and establish 400 new commercial farms every year. The project also focuses on clusterization, creation of mandis, abattoirs and common facility centers (CFCs), to support marketing and value addition of the sector.
    “Investing in growth and improvement of mutton sector in J&K is not only about boosting production and reducing import costs, but it is also about providing quality and safe meat to consumers, improving the livelihoods of traditional farmers besides creating new job opportunities in the region.”, said Atal Dulloo, Additional Chief Secretary, Agriculture Production Department.
    He added: “Apart from increase in production and productivity forward linkages, which are acutely lacking in the sector, will be established through formation of 50 Farmer Producer Organizations and Self Help Groups with linkage to 10 new abattoirs and in-built value chains integrated with 10 sheep mandis and 50 CFCs.

    Mutton has been an essential part of the Kashmiri cuisine for generations and Jammu and Kashmir, with its rich cultural heritage and diverse geography, has a significant demand for mutton. Despite the regions competitive advantage and potential to become self-reliant in the mutton sector, there is a shortfall of 41 per cent leading to an import bill of ₹1400 crore every year. Additionally, the existing mutton production is not only of insufficient quantity but also lacks quality and is not FSSAI compliant, putting consumers at risk.

    The majority of the livestock population is held by Bakerwals who follow traditional methods of farming, resulting in low productivity and profits. The UT has less than five breeds of sheep with the majority being dual purpose breeds such as Kashmir Merino, Rambouillet, and Corriedale. However, there is increasing demand for fast-growing mutton breeds like Dorper, Romnov, South Down and others.

    ‘Reorienting priorities: Self-Sustenance in mutton production’ is one among the 29 projects, which were approved by the Jammu and Kashmir administration after being recommended by the UT Level Apex Committee for holistic development of Agriculture and allied sectors in UT of J&K.

    The prestigious committee is being headed by Dr Mangala Rai, Former DG ICAR and has other luminaries in the field of Agriculture, Planning, Statistics & Administration like Ashok Dalwai, CEO NRAA, Dr. P. K Joshi, Secretary, NAAS, Dr. Prabhat Kumar, Horticulture Commissioner MOA & FW, Dr. H. S Gupta, Former Director, IARI, Atal Dulloo, Additional Chief Secretary, APD besides Vice Chancellors of the twin Agriculture Universities of the UT.
    The expected output from the project included import of 2700 high genetic merit/elite sheep and goats, increased lambing percentage from 80 to 120 and considerable reduction in marketable age for sheep and goats (40-50 kg in 6 months). The germplasm of the elite animals will be propagated through artificial insemination and embryo transfer techniques to intensify genetic conversion.

    The project aims to double the farm income through early weight gain, improved carcass yield and production and reduce lamb mortality. Effective health cover is expected to prevent production losses by 20-30% and provide consumers with safe and quality meat.

    The project is anticipated to bring significant benefits to farmers and consumers in Jammu and Kashmir.

    The creation of commercial farms and establishment of breed-based farms will boost mutton production and improve the quality of meat available to consumers. The marketing and value addition initiatives will help farmers get better returns for their produce, while health cover and nutrition interventions will reduce production losses and improve the overall well-being of the animals. The project will also create job opportunities and promote entrepreneurship, contributing to the economic development of the region.

    Ultimately, the project which is aimed at to achieve self-reliance in the mutton sector in Jammu and Kashmir, is a crucial step towards meeting the growing demand for mutton in the region.

    The project also intends to address the shortcomings in the existing mutton production and provide consumers with safe and quality meat. The project is also likely to bring numerous benefits to farmers and consumers, create job opportunities and contribute towards overall economic development of the region.

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    #Govt #approves #year #project #achieve #reliance #Mutton #sector

    ( With inputs from : roshankashmir.net )

  • J&K Govt approves Rs 329 cr 5 year project to achieve self reliance in Mutton sector

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    Jammu, Feb 12 (GNS): In view of huge mutton usage in Jammu and Kashmir, especially in the Kashmiri cuisine and in order to reduce meat import in the Union Territory, the government has approved an ambitious Rs 329 crore project for next five years to achieve self reliance in Mutton sector.

    The project is aimed at creating 6000 jobs besides setting up of 122 enterprises in the mutton sector in the Union Territory.

    The initiative also envisages achieving self-reliance in the mutton sector through a combination of innovative interventions including vertical upgrades, horizontal expansion besides focused attention on health cover and nutrition. One of the major interventions planned is import of muttonous breeds, which will lead to establishment of 72 breed-based farms to provide high genetic merit to animals. Additionally, the project aims to conduct 1,00,000 Artificial Inseminations (AIs) annually and establish 400 new commercial farms every year. The project also focuses on clusterization, creation of mandis, abattoirs and common facility centers (CFCs), to support marketing and value addition of the sector.

    “Investing in growth and improvement of mutton sector in J&K is not only about boosting production and reducing import costs, but it is also about providing quality and safe meat to consumers, improving the livelihoods of traditional farmers besides creating new job opportunities in the region.”, said Atal Dulloo, Additional Chief Secretary, Agriculture Production Department.

    He added: “Apart from increase in production and productivity forward linkages, which are acutely lacking in the sector, will be established through formation of 50 Farmer Producer Organizations and Self Help Groups with linkage to 10 new abattoirs and in-built value chains integrated with 10 sheep mandis and 50 CFCs.

    Mutton has been an essential part of the Kashmiri cuisine for generations and Jammu and Kashmir, with its rich cultural heritage and diverse geography, has a significant demand for mutton. Despite the regions competitive advantage and potential to become self-reliant in the mutton sector, there is a shortfall of 41 per cent leading to an import bill of ₹1400 crore every year. Additionally, the existing mutton production is not only of insufficient quantity but also lacks quality and is not FSSAI compliant, putting consumers at risk.

    The majority of the livestock population is held by Bakerwals who follow traditional methods of farming, resulting in low productivity and profits. The UT has less than five breeds of sheep with the majority being dual purpose breeds such as Kashmir Merino, Rambouillet, and Corriedale. However, there is increasing demand for fast-growing mutton breeds like Dorper, Romnov, South Down and others.

    ‘Reorienting priorities: Self-Sustenance in mutton production’ is one among the 29 projects, which were approved by the Jammu and Kashmir administration after being recommended by the UT Level Apex Committee for holistic development of Agriculture and allied sectors in UT of J&K. The prestigious committee is being headed by Dr Mangala Rai, Former DG ICAR and has other luminaries in the field of Agriculture, Planning, Statistics & Administration like Ashok Dalwai, CEO NRAA, Dr. P. K Joshi, Secretary, NAAS, Dr. Prabhat Kumar, Horticulture Commissioner MOA & FW, Dr. H. S Gupta, Former Director, IARI, Atal Dulloo, Additional Chief Secretary, APD besides Vice Chancellors of the twin Agriculture Universities of the UT.

    The expected output from the project included import of 2700 high genetic merit/elite sheep and goats, increased lambing percentage from 80 to 120 and considerable reduction in marketable age for sheep and goats (40-50 kg in 6 months). The germplasm of the elite animals will be propagated through artificial insemination and embryo transfer techniques to intensify genetic conversion. The project aims to double the farm income through early weight gain, improved carcass yield and production and reduce lamb mortality. Effective health cover is expected to prevent production losses by 20-30% and provide consumers with safe and quality meat.

    The project is anticipated to bring significant benefits to farmers and consumers in Jammu and Kashmir. The creation of commercial farms and establishment of breed-based farms will boost mutton production and improve the quality of meat available to consumers. The marketing and value addition initiatives will help farmers get better returns for their produce, while health cover and nutrition interventions will reduce production losses and improve the overall well-being of the animals. The project will also create job opportunities and promote entrepreneurship, contributing to the economic development of the region.

    Ultimately, the project which is aimed at to achieve self-reliance in the mutton sector in Jammu and Kashmir, is a crucial step towards meeting the growing demand for mutton in the region. The project also intends to address the shortcomings in the existing mutton production and provide consumers with safe and quality meat. The project is also likely to bring numerous benefits to farmers and consumers, create job opportunities and contribute towards overall economic development of the region.(GNS)

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    #Govt #approves #year #project #achieve #reliance #Mutton #sector

    ( With inputs from : thegnskashmir.com )

  • 45 Shops Linked To Health Sector Sealed In Banihal, Two Demolished

    45 Shops Linked To Health Sector Sealed In Banihal, Two Demolished

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    SRINAGAR: The government on Sunday sealed almost 45 shops in Banihal and most of them were either pharmacies or diagnostic centres. The market existed on the state land in, what is being called “hospital gali” and has mostly been sealed and taken over by the local municipal committee.

    Reports reaching from the highway town said that authorities demolished a shop and a ‘tin shed’ located n the same lane. All the shops we linked directly or indirectly with the health sector.

    Authorities had informed the shopkeepers in anticipation that their shops are being sealed and they had removed their belongings enabling officials to seal the market. Local residents said the decision will seriously impact healthcare sector and will result in jobless of around 400 people. One report said the sealed shops include 22 pharmacies – shops were medicine are sold, nine clinical laboratories and five optical shops. One report said some of the facilities that were being provided by these shops are missing in the hospital.

    Two political activists were taken into preventive custody before the start of the drive to retrieve state land along the sub-district hospital road amid tight security arrangements, they said.

    Fearing disruptions, police had taken into custody two local activists, Mohammad Ilyas Wani of the Democratic Azad Party (DAP) and Qaiser Hamid Sheikh of the Congress party.

    The anti-encroachment drive was a joint effort led by the civil administration and the Jammu and Kashmir Police. There were symbolic protests as well.

    Officials said the market had come illegally on the state land on the banks of a stream. The encroachments that were undone include part of the premises taken over by a private school.

    Local businesses believe that since the shops have been formally taken over by the Municipal Committee, these may, in the coming days, be reallocated to the shopkeepers who were running their business from these shops and did not own them. Authorities, however, are tight-lipped, making no promises. They left after sealing the shops and pasting a paper on every one of them suggesting the property belongs to the MC Banihal.

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    #Shops #Linked #Health #Sector #Sealed #Banihal #Demolished

    ( With inputs from : kashmirlife.net )

  • Satellite’s successful launch shows ISRO’s prowess in space sector: Andhra CM

    Satellite’s successful launch shows ISRO’s prowess in space sector: Andhra CM

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    Amaravati: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Friday said that the placement of three satellites successfully into their intended orbits showed the prowess of the Indian Space Research Organisation (ISRO).

    CM Jagan Reddy extended congratulations to the team of ISRO for the launch of SSLV-D2, propelling the nation’s space initiatives.

    “The mission of placing three satellites into the intended orbits shows the prowess of Indian Space acumen,” Chief Minister Jagan Mohan Reddy said and wished ISRO team and the youngsters associated with the project all success in future endeavours.

    The Small Satellite Launch Vehicle – SSLV-D2 has been successfully launched from Satish Dhawan Space Centre at Sriharikota in the morning and successfully placed three satellites EOS-07, Janus-1 and AzaadiSAT-2 into their 450 km circular orbit.

    “SLV-D2/EOS-07 Mission is accomplished successfully. SSLV-D2 placed EOS-07, Janus-1 and AzaadiSAT-2 into their intended orbits,” said ISRO.

    The launch has put ISRO’s an earth observation satellite EOS-07 and two co-passenger satellites Janus-1 and AzaadiSAT-2 into a 450 km circular orbit around the Earth.

    Soon after the launch, Mission Director, ISRO Vinoth said “Janus 1 satellite separated. SSLV D2 mission accomplished.”

    The new vehicle was developed to capture the emerging small and microsatellite commercial market.
    Speaking on the occasion, ISRO chief S Somanath said, “Congratulations to all three satellite teams for making the satellites as well as placing them in right orbit.

    We analysed the problems faced in SSLV-D1, identified corrective actions and implemented them at a very fast pace to ensure the vehicle becomes successful this time.”

    He said, “Today, after this launch, we are preparing to commence the launch campaign of PSLV-C55. This launch is for NSIL and will probably be launched by the end of March. So the launch campaign will commence today by placing the rocket at launch pedestal in a new facility.”

    According to ISRO, the second developmental flight of SSLV-D2 was scheduled at 09:18 hours IST from the first launch pad at SDSC SHAR in Sriharikota. SSLV-D2 is intended to inject the EOS-07, Janus-1 and AzaadiSAT-2 satellites into a 450 km circular orbit, in its 15-minute flight.

    EOS-07 is a 156.3 kg satellite designed, developed and realized by ISRO. New experiments include mm-Wave Humidity Sounder and Spectrum Monitoring Payload. Janus-1, a 10.2 kg satellite belongs to the US-based firm Antaris. It is configured with three solid propulsion stages and a velocity terminal module. It is a 34 m tall, 2 m diameter vehicle having a lift-off mass of 120 t.

    Meanwhile, the 8.7 kg satellite AzaadiSAT-2 is a combined effort of about 750 girl students across India guided by Chennai-based Space Kidz India.

    SSLV caters to the launch of up to 500 kg satellites to Low Earth Orbits on a ‘launch-on-demand’ basis.
    The space research body said it provides low-cost access to Space, offers low turn-around time and flexibility in accommodating multiple satellites, and demands minimal launch infrastructure.
    The first test flight of SSLV ended in partial failure on August 9, 2022.

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    #Satellites #successful #launch #shows #ISROs #prowess #space #sector #Andhra

    ( With inputs from www.siasat.com )

  • Syrian health sector suffers from US sanctions: Minister

    Syrian health sector suffers from US sanctions: Minister

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    Damascus: Syria’s Health Minister has said that the Syrian health sector is reeling under pressure from the US sanctions.

    Speaking at a press conference, Hassan al-Ghabbash on Thursday stressed that the suffering of the Syrian medical sector is not a result of the recent massive earthquake that hit the country on Monday but rather the Western sanctions imposed on Syria for 12 years.

    He also stated that the death toll from the earthquake rose to 1,347 and the injuries to 2,295, Xinhua news agency reported.

    Al-Ghabbash stressed that from the first moments of the earthquake, the Syrian Health Ministry’s emergency room was mobilised to coordinate the response and send ambulances, mobile clinics, and supply trucks to the most affected provinces.

    The hospitals and health centres are working at their maximum capacity to provide medical services, he said, adding that one of the most important priorities and challenges is to continue to provide health services in shelters and prepare for any emergency.

    “We are determined to provide services to Syrian citizens despite all the circumstances and challenges, and the Syrian state has largely succeeded,” he said.

    Al-Ghabbash added that the shortfall caused by Western sanctions would be made up through the concerted efforts of private sector institutions, trade unions, non-governmental organisations and civil society.

    The Minister called on the UN, the International Committee of the Red Cross and other international organisations to provide assistance to Syria to deal with the disaster.

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    #Syrian #health #sector #suffers #sanctions #Minister

    ( With inputs from www.siasat.com )

  • Technology sector cuts most jobs in January in US: Report

    Technology sector cuts most jobs in January in US: Report

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    San Francisco: Led by the technology sector, US-based employers announced 102,943 cuts in January, a massive 136 per cent increase from the 43,651 cuts announced in December, a new report has said.

    It is 440 per cent higher than the 19,064 cuts announced in the same month in 2022, according to a report by global outplacement and business and executive coaching firm, Challenger, Gray & Christmas, Inc.

    The technology sector announced the most cuts with 41,829, 41 per cent of all cuts, announced in January. From Amazon to Meta, from Alphabet to Google, almost every big tech company laid off employees in thousands.

    It is 158 per cent higher than the 16,193 cuts announced in December 2022 and 57,996 per cent higher than the 72 tracked in January 2022.

    Since November 2022, which saw the highest monthly total for the sector since Challenger began tracking in 1993 with 52,771, technology companies have announced 110,793 job cuts. January’s total is the second-highest for the sector on record, the findings showed.

    “We’re now on the other side of the hiring frenzy of the pandemic years,” said Andrew Challenger, labor expert and Senior Vice President of Challenger, Gray & Christmas, Inc.

    “Companies are preparing for an economic slowdown, cutting workers and slowing hiring,” he added.

    The media industry announced 754 cuts in January, the highest monthly total since 1,001 cuts were announced in June 2021.

    Of those, 360 were in digital, print, and broadcast news organisations.

    In January, US employers announced plans to hire 32,764 workers, primarily in entertainment/leisure. This is down 58 per cent from the 77,630 announced in January 2022 and down 37 per cent from the 51,693 new jobs employers announced in December of last year, said the report.

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    #Technology #sector #cuts #jobs #January #Report

    ( With inputs from www.siasat.com )

  • Technology sector cuts most jobs in January in US: Report

    Technology sector cuts most jobs in January in US: Report

    [ad_1]

    San Francisco: Led by the technology sector, US-based employers announced 102,943 cuts in January, a massive 136 percent increase from the 43,651 cuts announced in December, a new report has said.

    It is 440 percent higher than the 19,064 cuts announced in the same month in 2022, according to a report by global outplacement and business and executive coaching firm, Challenger, Gray & Christmas, Inc.

    The technology sector announced the most cuts with 41,829, 41 percent of all cuts, announced in January. From Amazon to Meta, from Alphabet to Google, almost every big tech company laid off employees thousands.

    It is 158 percent higher than the 16,193 cuts announced in December 2022 and 57,996 percent higher than the 72 tracked in January 2022.

    Since November 2022, which saw the highest monthly total for the sector since Challenger began tracking in 1993 with 52,771, technology companies have announced 110,793 job cuts. January’s total is the second-highest for the sector on record, the findings showed.

    “We’re now on the other side of the hiring frenzy of the pandemic years,” said Andrew Challenger, a labor expert and Senior Vice President of Challenger, Gray & Christmas, Inc.

    “Companies are preparing for an economic slowdown, cutting workers and slowing hiring,” he added.

    The media industry announced 754 cuts in January, the highest monthly total since 1,001 cuts were announced in June 2021.

    Of those, 360 were in digital, print, and broadcast news organizations.

    In January, US employers announced plans to hire 32,764 workers, primarily in entertainment/leisure. This is down 58 percent from the 77,630 announced in January 2022 and down 37 percent from the 51,693 new jobs employers announced in December of last year, said the report.

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    #Technology #sector #cuts #jobs #January #Report

    ( With inputs from www.siasat.com )

  • Adani crisis: Banking sector resilient and stable, says RBI

    Adani crisis: Banking sector resilient and stable, says RBI

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    Mumbai: Amid concerns over banks’ exposure to the embattled Adani Group, the Reserve Bank on Friday said India’s banking sector is resilient and stable, and the central bank maintains a constant vigil on the lenders.

    Responding to media reports expressing concern about the exposure of Indian banks to a “business conglomerate”, the Reserve Bank said in a statement that it is constantly monitoring the banking sector.

    However, the RBI did not name the Adani Group.

    As per the current assessment, the RBI said, “the banking sector remains resilient and stable. Various parameters relating to capital adequacy, asset quality, liquidity, provision coverage and profitability are healthy.”

    “As the regulator and supervisor, the RBI maintains a constant vigil on the banking sector and on individual banks with a view to maintaining financial stability. The RBI has a Central Repository of Information on Large Credits (CRILC) database system where the banks report their exposure of Rs 5 crore and above which is used for monitoring purposes,” the central bank said.

    The RBI, the statement said, remains vigilant and continues to monitor the stability of the Indian banking sector.

    It further said that banks are also in compliance with the Large Exposure Framework (LEF) guidelines issued by the RBI.

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    #Adani #crisis #Banking #sector #resilient #stable #RBI

    ( With inputs from www.siasat.com )

  • Job growth in Indian IT sector slumps 25% amid layoffs

    Job growth in Indian IT sector slumps 25% amid layoffs

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    New Delhi: Due to corrections in hiring in the IT industry, job growth in the Indian IT sector has declined by 25 per cent this year as compared to last year, a report showed on Thursday.

    The hiring intent declined across both large IT giants and unicorns, while trends across other IT startups remained stable as compared to last year, according to a report by naukri.com.

    Regarding the hiring dip across experience levels, fresher hiring faces the biggest slump followed by a mid-experience hiring decline, while hiring across senior levels (greater than 12 years of experience) remained stable in IT, the report mentioned.

    “As the year begins, Non IT sectors hold the fort for hiring activity in India with insurance, oil and hospitality flying high. Interestingly, IT-linked metros, which were the main growth drivers last year, were overshadowed by emerging cities like Ahmedabad and Baroda,” saidAPawan Goyal, Chief Business Officer, Naukri.com.

    In the era of hiring corrections, increasing demand for senior professionals with more than 12 years of experience continues to dominate the hiring activity at the beginning of 2023, recording more than 20 per cent growth vs. last year.

    Hiring activity remains stable for freshers and mid-experience level professionals, said the report.

    In the New Year, the Indian job market continues to show resilience and stability, said the report.

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    #Job #growth #Indian #sector #slumps #layoffs

    ( With inputs from www.siasat.com )