http://www.arthapedia.in/index.php?title=Special:Contributions/Gayatrinair25&feed=atom&deletedOnly=&limit=50&target=Gayatrinair25&topOnly=&year=&month=Arthapedia - User contributions [en]2024-03-29T02:12:23ZFrom ArthapediaMediaWiki 1.17.0http://www.arthapedia.in/index.php/Repeat_House_Rent_SurveyRepeat House Rent Survey2011-08-23T03:39:24Z<p>Gayatrinair25: Created page with "<p>Repeat house rent survey (RHRS) is a survey conducted to collect data on house rent and related charges from a fixed sample of dwellings to measure the changes in rents for ..."</p>
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<div><p>Repeat house rent survey (RHRS) is a survey conducted to collect data on <br />
house rent and related charges from a fixed sample of dwellings to measure the <br />
changes in rents for a fixed standard of accommodation and amenities. The index <br />
calculated forms the house rent index which is a part of the Consumer Price <br />
Index CPI (IW) with a weightage of 15.27% in the total index. Labour Bureau <br />
which compiles the Consumer Price Index for Industrial workers conducts the <br />
repeat house rent survey in six monthly intervals which are termed as “rounds”(January <br />
to June and July to December). Every month is termed as sub rounds. All the <br />
dwellings covered in a sub round are surveyed in the same sub round of every <br />
round. For the purpose of the survey, rent along with repair and maintenance <br />
charges, service charges like water and taxes are included while electricity <br />
charges and sweeper charges are excluded.</p><br />
<p>The unit of the survey is a dwelling which is classified as rented, self <br />
owned and rent free. Rented dwelling is defined as the entire portion of the <br />
residential accommodation hired by the family on payment. Rent free dwelling is <br />
defined as the entire portion of dwelling occupied by the family which has been <br />
provided by the employer without charging any rent. Self owned dwelling means a <br />
residential accommodation owned and occupied by the worker. The weightage of the <br />
three types of dwelling rented, self owned and rent free in the house rent index <br />
are 75.46%, 9.49% and 15.05% respectively.</p><br />
<p>The housing index is compiled by Chain base method in which changes in rent <br />
is compared with the previous period’s rent and not with the base period as in <br />
case of other items of index. This method of calculation takes care of <br />
depreciation aspect of housing.</p><br />
<br />
<br />
==References==<br />
#http://www.labourbureau.gov.in/<br />
<br />
<br />
==Contributed by==<br />
*[http://www.ies.gov.in/myaccount-profile-view.php?memid=316 Gayatri Nair, IES(2004)]<br />
*Email- [mailto:gayatrinair25@gmail.com gayatrinair25@gmail.com]<br />
<br />
[[Category:concepts]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Quick_Employment_SurveyQuick Employment Survey2011-08-23T03:37:07Z<p>Gayatrinair25: </p>
<hr />
<div><p>The ' Quick Employment Survey ' is being conducted by Labour Bureau since <br />
January 2009 to assess the impact of economic slowdown on employment in India. <br />
The economic slowdown which had engulfed the world economy had its implications <br />
on the domestic economy. The Indian economy showed signs of deceleration and <br />
grew at 7.8% in the first half year of 2008-09 against an average annual rate of <br />
growth of 8.6% in the preceding three years. .The Ministry of Labour and <br />
Employment took a serious note of the economic slowdown and felt the need to <br />
assess the impact of the crisis on employment .The need for collection of <br />
employment statistics became imperative and Labour Bureau was entrusted with a <br />
work to carry out a quick survey in industries/sector supposed to be badly <br />
affected by the slowdown.</p><br />
<p>The Quick Employment Surveys are quarterly surveys. The first survey was <br />
conducted in the month of January, 2009 to study the impact of slowdown on <br />
employment during the quarter Oct-Dec, 2008. The survey was conducted in seven <br />
important sectors of the economy viz. Textiles, Metals, Automobiles, Gems &amp; <br />
Jewellery, Transport, IT/BPO and Mining. The first quarterly survey covered the <br />
construction sector .However due to non-cooperation of the sample units and <br />
unavailability of reliable data, results could not be compiled and therefore the <br />
sector is not being covered in the subsequent quarterly surveys. The second <br />
survey was conducted in the month of April 2009 to study the impact on <br />
employment during the quarter Jan-March, 2009. In this survey, two additional <br />
sectors namely leather and handloom/ power loom were covered whereas mining <br />
sector covered during the first survey was excluded. Hence eight sectors are <br />
being covered for this survey from then onwards. Ten quarterly surveys have been <br />
conducted so far</p><br />
<p>The Quick Employment Survey tries to capture changes in level of employment <br />
in two categories- Direct and contract covering both manual and nonmanual <br />
workers. The trend in exporting and non exporting units is also captured. The <br />
reports and the results of the surveys may be viewed at www.labourbureau.gov.in.</p><br />
<br />
<br />
==Contributed by==<br />
*[http://www.ies.gov.in/myaccount-profile-view.php?memid=316 Gayatri Nair, IES(2004)]<br />
*Email- [mailto:gayatrinair25@gmail.com gayatrinair25@gmail.com]<br />
<br />
[[Category:concepts]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Quick_Employment_SurveyQuick Employment Survey2011-08-23T03:36:33Z<p>Gayatrinair25: Created page with "<p>The ' Quick Employment Survey ' is being conducted by Labour Bureau since January 2009 to assess the impact of economic slowdown on employment in India. The economic slowdow..."</p>
<hr />
<div><p>The ' Quick Employment Survey ' is being conducted by Labour Bureau since <br />
January 2009 to assess the impact of economic slowdown on employment in India. <br />
The economic slowdown which had engulfed the world economy had its implications <br />
on the domestic economy. The Indian economy showed signs of deceleration and <br />
grew at 7.8% in the first half year of 2008-09 against an average annual rate of <br />
growth of 8.6% in the preceding three years. .The Ministry of Labour and <br />
Employment took a serious note of the economic slowdown and felt the need to <br />
assess the impact of the crisis on employment .The need for collection of <br />
employment statistics became imperative and Labour Bureau was entrusted with a <br />
work to carry out a quick survey in industries/sector supposed to be badly <br />
affected by the slowdown.</p><br />
<p>The Quick Employment Surveys are quarterly surveys. The first survey was <br />
conducted in the month of January, 2009 to study the impact of slowdown on <br />
employment during the quarter Oct-Dec, 2008. The survey was conducted in seven <br />
important sectors of the economy viz. Textiles, Metals, Automobiles, Gems &amp; <br />
Jewellery, Transport, IT/BPO and Mining. The first quarterly survey covered the <br />
construction sector .However due to non-cooperation of the sample units and <br />
unavailability of reliable data, results could not be compiled and therefore the <br />
sector is not being covered in the subsequent quarterly surveys. The second <br />
survey was conducted in the month of April 2009 to study the impact on <br />
employment during the quarter Jan-March, 2009. In this survey, two additional <br />
sectors namely leather and handloom/ power loom were covered whereas mining <br />
sector covered during the first survey was excluded. Hence eight sectors are <br />
being covered for this survey from then onwards. Ten quarterly surveys have been <br />
conducted so far</p><br />
<p>The Quick Employment Survey tries to capture changes in level of employment <br />
in two categories- Direct and contract covering both manual and nonmanual <br />
workers. The trend in exporting and non exporting units is also captured. The <br />
reports and the results of the surveys may be viewed at www.labourbureau.gov.in.</p><br />
<br />
<br />
==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=316 Gayatri Nair, IES(2004)]<br />
<br />
[[Category:concepts]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Labour_BureauLabour Bureau2011-08-23T03:35:14Z<p>Gayatrinair25: Created page with "<p>Labour Bureau, an attached office under Ministry of Labour and Employment, was set up on 1st October 1946. It is entrusted with the work of compilation, collection, analysis..."</p>
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<div><p>Labour Bureau, an attached office under Ministry of Labour and Employment, <br />
was set up on 1st October 1946. It is entrusted with the work of compilation, <br />
collection, analysis and dissemination of statistics on different aspects of <br />
labour. Labour Bureau has two main wings stationed in Shimla and Chandigarh. It <br />
has four regional offices at Ahmedabad, Chennai, Kolkata and Kanpur with a sub <br />
regional office at Mumbai.</p><br />
<p>The foundations of Labour Bureau can be traced to the The Royal Commission on <br />
Labour in 1931 which emphasised the need for systematic collection of labour <br />
statistics relating to living, working and socio-economic conditions of <br />
industrial labour. The rise in prices post world war II also necessitated the <br />
need for setting up of a machinery for measuring change in prices for <br />
compensation of wages of workers. The Rau Court of Enquiry was set up in 1940 to <br />
recommend a statistical machinery for measuring change in prices. Accordingly <br />
the Directorate of Cost of Living was set up at Shimla in 1941 for conducting <br />
Family Budget Enquiries and compiling index numbers. Later in 1946 the <br />
directorate was renamed as Labour Bureau.</p><br />
<p>Labour Bureau collects and publishes statistics and related information on <br />
wages, earnings, productivity, absenteeism, labour turn-over, industrial <br />
relations, working and living conditions and evaluation of working of various <br />
labour enactments etc. Besides important economic indicators like Consumer Price <br />
Index Numbers for Industrial, Agricultural and Rural Labourers; wage rate <br />
indices and data on industrial relations, socio-economic conditions in the <br />
organised and unorganised sector of industry etc are also released by the <br />
office.</p><br />
<p>The functions/activities of Labour Bureau can be classified under the <br />
following major heads:</p><br />
*Labour Intelligence: This consists of compilation and maintenance of Consumer Price Index Numbers for Industrial Workers, Agricultural/Rural Labourers, Retail Price Index of Selected Essential Commodities in Urban <br />
Areas, Wage Rate Indices, Productivity Indices.<br />
*Labour Research: Labour research consist of conducting research studies and surveys on labour related matters in organized and unorganized sector covering inter-alia SC/ST Workers, Women Labour, Contract Workers etc. Quick <br />
Employment Survey and Employment-Unemployment survey are also being conducted by Labour Bureau.<br />
*Monitoring and evaluation studies: This entails collection, compilation and dissemination of statistical information on various aspects of labour such as employment, wages and earnings, absenteeism, labour turnover, social <br />
security, welfare amenities, industrial relations, etc. based on statutory and voluntary returns under different Labour Acts and surveys conducted.<br />
<br />
<br />
==References==<br />
#http://www.labourbureau.gov.in/<br />
<br />
<br />
==Contributed by==<br />
*[http://www.ies.gov.in/myaccount-profile-view.php?memid=316 Gayatri Nair, IES(2004)]<br />
*Email- [mailto:gayatrinair25@gmail.com gayatrinair25@gmail.com]<br />
<br />
[[Category:concepts]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Public_Sector_Undertakings/EnterprisesPublic Sector Undertakings/Enterprises2011-08-23T03:32:05Z<p>Gayatrinair25: </p>
<hr />
<div><p>At the time of independence in 1947, Indian industry was ill-developed and <br />
required considerable policy thrust. The Second Five year Plan (1956-61) and the <br />
Industrial Policy Resolution of 1956 provided the framework for public sector <br />
undertakings/enterprises in India, which were expected to play a substantial <br />
role in preventing the concentration of economic power, reducing regional <br />
disparities and ensuring that planned development serves the common good. A list <br />
of 17 industrial sectors was reserved for the public sector in Schedule A of the <br />
1956 Resolution and no new units in the private sector in these categories would <br />
be permitted. Another list of industries was included in Schedule B where the <br />
Government actively encouraged public ownership. The Union Government and <br />
various sub-national governments made considerable investment on setting up and <br />
running public sector undertakings/enterprises.</p><br />
<p>Public Sector undertakings refer to commercial ventures of the Government <br />
where user fees are charged for services rendered. The tariff/fees may be market <br />
based or subsidised. They are usually fully owned and managed by the Government <br />
such as Railways, Posts, Defence Undertakings, Banks etc. Public sector <br />
enterprises on the other hand refer to those companies registered under the <br />
Companies Act, 1951,which are predominantly owned by Government and which are <br />
managed by a Government appointed Chairman and Managing Director. Government <br />
nominees represent the interests of the Government on the board of Public sector <br />
enterprises. Public sector companies usually compete with private sector <br />
enterprises in the domestic as well as international market.</p><br />
<p>Initially, the public sector was confined to core and strategic industries <br />
such as irrigation projects (e.g. the Damodar Valley Corporation), Fertilizers <br />
and Chemicals (e.g. Fertilizers and Chemicals, Travancore Limited) Communication <br />
Infrastructure (e.g. Indian Telephone Industries), Heavy Industries (e.g. Bhilai <br />
Steel Plant, Hindustan Machine Tools, Bharat Heavy Electricals, Oil and Natural <br />
Gas Commission etc.). Subsequently, however, the Government nationalized several <br />
banks (starting with nationalization of the Imperial Bank of India which was <br />
renamed State Bank of India in 1955) and foreign companies (Jessop &amp; Co, <br />
Braithwaite &amp; Co, Burn &amp; Co.).Later Public Sector companies started <br />
manufacturing consumer goods (e.g. Modern Foods, National Textile Corporation <br />
etc) and providing consultancy, contracting, and transportation services.</p><br />
<p>Investment decisions of PSUs are passed by the respective boards and then <br />
appraised and approved by the adminsitrative ministry to which they are <br />
accountable (e.g. Shipping Corporation of India is under the Department of <br />
Shipping in the Union Ministry of Surface Transport) or the Public Investment <br />
Board under the Department of Expenditure, Union Ministry of Finance and if the <br />
investment is beyond a certain threshold level or if a new public sector company <br />
is being created, then the proposal has to be approved by Cabinet. Central <br />
public sector enterprises are classified as “mahratnas” “mini-ratnas” and other <br />
enterprises depending on their track record based on guidelines approved by the <br />
Government from time to time.</p><br />
<p>The internal (profits) and extra-budgetary resources (borrowed funds) of <br />
public sector undertakings are factored into the preparation of the Annual <br />
Financial Statement (Budget) of the Government. However, poor productivity, poor <br />
project management, over-manning, lack of continuous technological upgradation, <br />
and inadequate attention to R&amp;D and human resource development resulted in a <br />
large number of public enterprises showing a very low rate of return on the <br />
capital invested and the need for budgetary support for day to day running. <br />
Several of them accumulated huge losses and ran up huge debts which had to be <br />
written off /settled from time to time by the Government.</p><br />
<p>Reviewing the role of the public sector, the Industrial Policy Resolution <br />
1991 reduced the number of industrial undertakings exclusively reduced to the <br />
public sector to just six areas which included strategic industries like atomic <br />
energy, defence, coal, mineral oils etc. as well as railway transport. Efforts <br />
were made to divest non strategic public sector industries and to increase <br />
private participation in the equity of profitable public sector industries. At <br />
the same time a Board for Reconstruction of Public Sector Enterprises has been <br />
set up to suggest ways to turn around sick and loss making public sector <br />
enterprises.</p><br />
<p>Sub national governments also own and manage public sector undertakings and <br />
in most cases they are loss making and require considerable budgetary support.</p><br />
<p>The audit of public sector undertakings is done by the Comptroller and <br />
Auditor General of India while that of public sector enterprises is done first <br />
by Chartered Accountants and the supplementary audit is done by the Comptroller <br />
and Auditor General of India.</p><br />
<br />
<br />
==References==<br />
#http://dpe.nic.in<br />
#http://dipp.nic.in<br />
<br />
<br />
==Contributed by==<br />
*[http://www.ies.gov.in/myaccount-profile-view.php?memid=128 Dr. Anuradha Balaram, IES (1986)]<br />
*Email- [mailto:pabalaram@hotmail.com pabalaram@hotmail.com]<br />
<br />
[[Category:concepts]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Labour_Force_Participation_RateLabour Force Participation Rate2011-08-20T14:46:24Z<p>Gayatrinair25: </p>
<hr />
<div><p>The Labour Force Participation Rate (LFPR), obtained by dividing the number <br />
of persons in the labour force by total population, is an important parameter in <br />
employment projections and formulation of employment strategies.</p><br />
<p>NSSO defines Labour force participation rate (LFPR) as the number of <br />
persons/person days in labour force per thousand persons/person days.</p><br />
<p>LFPR = No. of persons/person days employed + No. of persons/person days <br />
unemployed x 1000<br><br />
Total Population</p><br />
<p>The crucial issue, however, is the basis, or the decision rule, on which a <br />
person is classified as belonging to the labour force. There are four different <br />
concepts used in India in this regard. These are*: </p><br />
<p>a) Usual Principal Status (UPS)<br><br />
b) Usual Principal and Subsidiary Status (UPSS)<br><br />
c) Current Weekly Status (CWS), and<br><br />
d) Current Daily Status (CDS).</p><br />
<br />
<br />
==References==<br />
#http://nceuis.nic.in/working_paper_1.pdf<br />
<br />
<br />
==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=361 Monica Thind, IES(2008)]<br />
<br />
[[Category:concepts|LABOUR]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Liquidity_Adjustment_Facility_(LAF)Liquidity Adjustment Facility (LAF)2011-08-20T14:46:15Z<p>Gayatrinair25: </p>
<hr />
<div><p>Liquidity adjustment facility (LAF) is a monetary policy tool which allows <br />
banks to borrow money through repurchase agreements. LAF is used to aid banks in <br />
adjusting the day to day mismatches in liquidity.LAF consists of repo and <br />
reverse repo operations. Repo or repurchase option is a collaterised lending <br />
i.e. banks borrow money from Reserve bank of India to meet short term needs by <br />
selling securities to RBI with an agreement to repurchase the same at <br />
predetermined rate and date. The rate charged by RBI for this transaction is <br />
called the repo rate. Repo operations therefore inject liquidity into the <br />
system. Reverse repo operation is when RBI borrows money from banks by lending <br />
securities. The interest rate paid by RBI is in this case is called the reverse <br />
repo rate. Reverse repo operation therefore absorbs the liquidity in the system. <br />
The collateral used for repo and reverse repo operations comprise of Government <br />
of India securities. Oil bonds have been also suggested to be included as <br />
collateral for Liquidity adjustment facility</p><br />
<p>Liquidity adjustment facility has emerged as the principal operating <br />
instrument for modulating short term liquidity in the economy. Repo rate has <br />
become the key policy rate which signals the monetary policy stance of the <br />
economy.</p><br />
<p>The origin of repo rates, one of the component of liquidity adjustment <br />
facility, can be traced to as early as 1917 in U.S financial market when war <br />
time taxes made other sources of lending unattractive . The introduction of <br />
Liquidity adjustment facility in India was on the basis of the recommendations <br />
of Narsimham committee on banking sector reforms. In April 1999, an interim LAF <br />
was introduced to provide a ceiling and the fixed rate repos were continued to <br />
provide a floor for money market rates. As per the policy measures announced in <br />
2000, the Liquidity Adjustment Facility was introduced with the first stage <br />
starting from June 2000 onwards. Subsequent revisions were made in 2001 and <br />
2004. When the scheme was introduced, repo auctions were described for <br />
operations which absorbed liquidity from the system and reverse repo actions for <br />
operations which injected liquidity into the system. However in international <br />
nomenclature, repo and reverse repo implied the reverse. Hence in October 2004 <br />
when revised scheme of LAF was announced, the decision to follow the <br />
international usage of terms was adopted.</p><br />
<p>Repo and reverse repo rates were announced separately till the monetary <br />
policy statement in 3.5.2011. In this monetary policy statement, it has been <br />
decided that the reverse repo rate would not be announced separately but will be <br />
linked to repo rate. The reverse repo rate will be 100 basis points below repo <br />
rate. The liquidity adjustment facility corridor, that is the excess of repo <br />
rate over reverse repo, has varied between 100 to 300 basis points. The period <br />
between April 2001 to March 2004 and June 2008 to early November 2008 saw a <br />
broader corridor ranging from 150-250 and 200-300 basis points respectively. <br />
During March 2004 to June 2008 the corridor was narrow with the rates ranging <br />
from 100-175 basis points. A narrow LAF corridor is reflected from November 2008 <br />
onwards. At present the width of the corridor is 100 basis points. This corridor <br />
is used to contain any volatility in short term interest rates.</p><br />
<br />
<br />
==References==<br />
#http://www.rbi.org.in/<br />
<br />
<br />
==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=316 Gayatri Nair, IES(2004)]<br />
<br />
[[Category:concepts|LIQUIDITY]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Labour_ForceLabour Force2011-08-20T14:46:01Z<p>Gayatrinair25: </p>
<hr />
<div><p>The concept of Labour force also known as the ‘economically active <br />
population’ is used by NSSO in collection of data on employment and <br />
unemployment. An economically active person is one who is engaged in some <br />
economic activity or seeks to engage him/herself in some economic activity. <br />
Accordingly, to classify a person as belonging to labour force or not during a <br />
reference period, first his/her activity status is determined. The NSSO defines <br />
following three broad Activity Status:</p><br />
<p>i) Working (engaged in an economic activity) i.e. ‘Employed’,<br><br />
ii) Seeking or available for work i.e. ‘Unemployed’,<br><br />
iii) Neither seeking nor available for work.</p><br />
<p>All those persons who were either ‘working’ or ‘seeking or available for <br />
work’ during the reference period are classified as being in the ‘labour force’. <br />
Those who are ‘working’ are further classified into following categories i) self <br />
employed ii) regular salaried/wage employees iii) casual wage labour. Workers <br />
are part of the labour force.</p><br />
<p>A person ‘seeking/available for work’ is the one who did not work due to lack <br />
of work but was actively looking for work through various channels like <br />
employment exchanges, friends and relatives etc. and was willing/available to <br />
work under the prevailing conditions of work and remuneration. Such persons are <br />
also the part of labour force.</p><br />
<p>Persons who were neither ‘working’ nor ‘seeking/available for work’ during <br />
the reference period are classified as being outside the labour force. These are <br />
students, rentiers, pensioners, those engaged in domestic duties, recipients of <br />
remittances, too young persons, etc and casual labourers not working due to <br />
sickness.</p><br />
<br />
<br />
==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=361 Monica Thind, IES(2008)]<br />
<br />
[[Category:concepts|LABOUR]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Consumer_Price_Index_for_Industrial_Workers_CPI(IW)Consumer Price Index for Industrial Workers CPI(IW)2011-08-20T14:44:29Z<p>Gayatrinair25: </p>
<hr />
<div><p>This index is the oldest among the CPI indices as its dissemination started <br />
as early as in 1946. The history of compilation and maintenance of Consumer <br />
Price Index for Industrial workers owes its origin to the deteriorating economic <br />
condition of the workers post first world war which resulted in sharp increase <br />
in prices. As a consequence of rise in prices and cost of living, the provincial <br />
governments started compiling Consumer Price Index. The estimates were however <br />
not satisfactory. In pursuance of the recommendation of Rau Court of enquiry, <br />
the work of compilation and maintenance was taken over by government in 1943. <br />
Since 1958-59, the compilation of CPI(IW) has been started by Labour Bureau ,an <br />
attached office under Ministry of Labour &amp; Employment.</p><br />
<p>Consumer Price Index Numbers for Industrial workers measure a change over <br />
time in prices of a fixed basket of goods and services consumed by Industrial <br />
Workers. The target group is an average working class family belonging to any of <br />
the seven sectors of the economy- factories, mines, plantation, motor transport, <br />
port, railways and electricity generation and distribution . CPI (IW) is <br />
currently calculated at base 2001=100 for 78 centres and prices are collected <br />
from 289 markets across these 78 centres. The previous base periods of the index <br />
have been 1944,1949,1960 and 1982=100. The 2001 index is a more representative <br />
index than 1982 series CPI(IW) as its coverage of centres, markets and sample <br />
size for coverage of working class family income &amp; expenditure survey is much <br />
more wider.. The index has a time lag of one month and is released on the last <br />
working day of the month. It is used for wage indexation and fixation of <br />
dearness allowance for government employees.</p><br />
<br />
<br />
==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=316 Gayatri Nair, IES(2004)]<br />
<br />
[[Category:concepts|C]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Consumer_Price_Index_for_Urban_Non_Manual_Employees_(CPI(UNME))Consumer Price Index for Urban Non Manual Employees (CPI(UNME))2011-08-20T14:43:32Z<p>Gayatrinair25: Created page with "<p>The need for an all Indian middle class cost of living index was felt on several occasions in connection with the fixation and adjustments of emoluments of Central Governmen..."</p>
<hr />
<div><p>The need for an all Indian middle class cost of living index was felt on <br />
several occasions in connection with the fixation and adjustments of emoluments <br />
of Central Government employees. The Central Statistical Organisation carried <br />
out a family living survey of urban middle class population during 1958-59 to <br />
facilitate construction of middle class cost of living indices. On the basis of <br />
this survey data, a cost of living index number named as CPI(UNME) on <br />
base1960=100 was compiled and published since 1961.</p><br />
<p>This index depicts the changes in the level of average retail prices of goods <br />
and services consumed by the urban segment of the population. The target group <br />
of this index was urban families who derived major portion of their income from <br />
non manual occupations in the non-agricultural sector.This index had a limited <br />
use as it was used for determining dearness allowances of employees of some <br />
foreign companies working in India in service sectors such as airlines, <br />
communications, banking, insurance and other financial services. Release of <br />
Centre-wise monthly CPI (UNME) on the basis of 1984-85 =100 has been <br />
discontinued since April 2008 as per the recommendation of National Statistical <br />
Commission because of outdated base year and also deployment of field <br />
investigators for collection of price data for a broad based CPI (Urban) index. <br />
The Commission also decided that release of all-India linked CPI (UNME) would <br />
continue till CPI (Urban) is brought out. The monthly linked all India CPI (UNME) <br />
was being compiled by linking to CPI (IW) with base 2001=100 and taking CPI (UNME) <br />
as weights. This index was released with a time lag of two moths, usually during <br />
the third week of the month. The release of all-India linked CPI(UNME) has been <br />
discontinued with effect from January 2011.</p><br />
<br />
<br />
==References==<br />
#http://www.labourbureau.gov.in/<br />
#http://www.mospi.nic.in/<br />
<br />
<br />
==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=316 Gayatri Nair, IES(2004)]<br />
<br />
[[Category:concepts|C]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Consumer_Price_Index(Urban)_and_Consumer_Price_Index(Rural)Consumer Price Index(Urban) and Consumer Price Index(Rural)2011-08-20T14:41:43Z<p>Gayatrinair25: Created page with "<p>The CPI(IW) and CPI(Al &amp; RL) pertain to specific segment of population. Since these indices do not cover all segments of population, it is difficult to ascertain the tru..."</p>
<hr />
<div><p>The CPI(IW) and CPI(Al &amp; RL) pertain to specific segment of population. Since <br />
these indices do not cover all segments of population, it is difficult to <br />
ascertain the true variations in the price level . To overcome this problem, a <br />
new index with a wider coverage is now being computed, CPI(Urban) and CPI(Rural) <br />
by Central Statistics Office under Ministry of Statistics and Programme <br />
Implementation.</p><br />
<p>This series of CPI has two components, one a representative of the entire <br />
urban population, viz. CPI (Urban), and another for the entire rural population, <br />
viz. CPI (Rural) These indices reflect the changes in the price levels of <br />
various goods and services consumed by the urban and rural population <br />
respectively. The indices are compiled at State/UT and all-India levels and are <br />
based on 2010 as base year. CPI (urban) covers 310 towns while the span of <br />
CPI(rural) is 1181 villages. Index Numbers for both rural and urban areas and <br />
also combined have been started from January 2011 index onwards. Provisional <br />
indices based on the data available are first released with the time lag of 30 <br />
days. Revised and final numbers with complete data for all India and also for <br />
all the States/UTs will be released with a time lag of two months.</p><br />
<br />
<br />
==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=316 Gayatri Nair, IES(2004)]<br />
<br />
[[Category:concepts|C]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Consumer_Price_Index_for_Agricultural_Labourers_and_Rural_Labourers_(CPI(AL)_%26_CPI(RL))Consumer Price Index for Agricultural Labourers and Rural Labourers (CPI(AL) & CPI(RL))2011-08-20T14:41:05Z<p>Gayatrinair25: Created page with "<p>Labour Bureau has been compiling CPI Numbers for Agricultural Labourers since September, 1964.The base of CPI(AL) was 1960-61=100. This series of CPI Numbers was then replac..."</p>
<hr />
<div><p>Labour Bureau has been compiling CPI Numbers for Agricultural Labourers since <br />
September, 1964.The base of CPI(AL) was 1960-61=100. This series of CPI Numbers <br />
was then replaced by CPI for (i) Agricultural and (ii) Rural Labourers with base <br />
1986-87=100 from November, 1995 onwards . CPI for Agricultural and Rural <br />
labourers on base 1986-87=100 is a weighted average of 20 constituent state <br />
indices and it measures the extent of change in the retail prices of goods and <br />
services consumed by the agricultural and rural labourers as compared with the <br />
base period viz 86-87. This index is released on the 20th of the succeeding <br />
month. CPI-AL is basically used for revising minimum wages for agricultural <br />
labour in different States.</p><br />
<br />
<br />
==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=316 Gayatri Nair, IES(2004)]<br />
<br />
[[Category:concepts|C]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Consumer_Price_Index_for_Industrial_Workers_CPI(IW)Consumer Price Index for Industrial Workers CPI(IW)2011-08-20T14:39:46Z<p>Gayatrinair25: Created page with "<p>The need for an all Indian middle class cost of living index was felt on several occasions in connection with the fixation and adjustments of emoluments of Central Governmen..."</p>
<hr />
<div><p>The need for an all Indian middle class cost of living index was felt on <br />
several occasions in connection with the fixation and adjustments of emoluments <br />
of Central Government employees. The Central Statistical Organisation carried <br />
out a family living survey of urban middle class population during 1958-59 to <br />
facilitate construction of middle class cost of living indices. On the basis of <br />
this survey data, a cost of living index number named as CPI(UNME) on <br />
base1960=100 was compiled and published since 1961.</p><br />
<p>This index depicts the changes in the level of average retail prices of goods <br />
and services consumed by the urban segment of the population. The target group <br />
of this index was urban families who derived major portion of their income from <br />
non manual occupations in the non-agricultural sector.This index had a limited <br />
use as it was used for determining dearness allowances of employees of some <br />
foreign companies working in India in service sectors such as airlines, <br />
communications, banking, insurance and other financial services. Release of <br />
Centre-wise monthly CPI (UNME) on the basis of 1984-85 =100 has been <br />
discontinued since April 2008 as per the recommendation of National Statistical <br />
Commission because of outdated base year and also deployment of field <br />
investigators for collection of price data for a broad based CPI (Urban) index. <br />
The Commission also decided that release of all-India linked CPI (UNME) would <br />
continue till CPI (Urban) is brought out. The monthly linked all India CPI (UNME) <br />
was being compiled by linking to CPI (IW) with base 2001=100 and taking CPI (UNME) <br />
as weights. This index was released with a time lag of two moths, usually during <br />
the third week of the month. The release of all-India linked CPI(UNME) has been <br />
discontinued with effect from January 2011.</p><br />
<br />
<br />
==References==<br />
#http://www.labourbureau.gov.in/<br />
#http://www.mospi.nic.in/<br />
<br />
<br />
==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=316 Gayatri Nair, IES(2004)]<br />
<br />
[[Category:concepts|C]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Consumer_Price_IndexConsumer Price Index2011-08-20T14:37:57Z<p>Gayatrinair25: Created page with "<p>Consumer Price Index is a measure of change in retail prices of goods and services consumed by defined population group in a given area with reference to a base year. This b..."</p>
<hr />
<div><p>Consumer Price Index is a measure of change in retail prices of goods and <br />
services consumed by defined population group in a given area with reference to <br />
a base year. This basket of goods and services represents the level of living or <br />
the utility derived by the consumers at given levels of their income, prices and <br />
tastes. The consumer price index number measures changes only in one of the <br />
factors; prices. This index is an important economic indicator and is widely <br />
considered as a barometer of inflation, a tool for monitoring price stability <br />
and as a deflator in national accounts. Consumer price index is used as a <br />
measure of inflation in around 157 countries. The dearness allowance of <br />
Government employees and wage contracts between labour and employer is based on <br />
this index. The formula for calculating Consumer Price Index is Laspeyre’s index <br />
which is measured as follows;</p><br />
<p>Total cost of a fixed basket of goods and services in the current period * <br />
100<br><br />
Total cost of the same basket in the base period</p><br />
<p>The origin of Consumer Price Index can be traced to the period after first <br />
world war when there was a sharp rise in prices and cost of living. The erosion <br />
in the real wages of the workers led to a demand by the workers for <br />
compensation. This led to the conduct of socio-economic surveys among the <br />
working classes as a preliminary to the measurement of cost of living. Consumer <br />
price index numbers were known as “ Cost of Living Index Numbers” prior to July <br />
1955. The Sixth International Conference of Labour Statisticians recommended the <br />
change in nomenclature from Cost of Living Index to Consumer Price index. The <br />
Cost of living index is a more broader term which includes not only changes in <br />
prices but several other factors like change in consumption habits and standard <br />
of living.</p><br />
<p>Presently the consumer price indices compiled in India are CPI for Industrial <br />
workers CPI(IW), CPI for Agricultural Labourers CPI(AL) &amp; Rural Labourers CPI(RL) <br />
and CPI ( Urban) and CPI(Rural). Consumer Price Index for Urban Non Manual <br />
Employees was earlier computed by Central Statistical Organisation. However this <br />
index has been discontinued since April 2008.The CPI(IW) and CPI(AL&amp; RL) <br />
compiled are occupation specific and centre specific and are compiled by Labour <br />
Bureau. This means that these index numbers measure changes in the retail price <br />
of the basket of goods and services consumed by the specific occupational groups <br />
in the specific centres. CPI(Urban) and CPI(Rural) are new indices in the group <br />
of Consumer price index and has a wider coverage of population. This index <br />
compiled by Central Statistical Organisation tries to encompass the entire <br />
population and is likely to replace all the other indices presently compiled.</p><br />
<br />
<br />
==References==<br />
#http://www.labourbureau.gov.in/<br />
#http://www.mospi.nic.in/<br />
<br />
<br />
==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=316 Gayatri Nair, IES(2004)]<br />
<br />
[[Category:concepts|C]]</div>Gayatrinair25http://www.arthapedia.in/index.php/Liquidity_Adjustment_Facility_(LAF)Liquidity Adjustment Facility (LAF)2011-08-20T14:37:10Z<p>Gayatrinair25: Created page with "<p>Liquidity adjustment facility (LAF) is a monetary policy tool which allows banks to borrow money through repurchase agreements. LAF is used to aid banks in adjusting the day..."</p>
<hr />
<div><p>Liquidity adjustment facility (LAF) is a monetary policy tool which allows <br />
banks to borrow money through repurchase agreements. LAF is used to aid banks in <br />
adjusting the day to day mismatches in liquidity.LAF consists of repo and <br />
reverse repo operations. Repo or repurchase option is a collaterised lending <br />
i.e. banks borrow money from Reserve bank of India to meet short term needs by <br />
selling securities to RBI with an agreement to repurchase the same at <br />
predetermined rate and date. The rate charged by RBI for this transaction is <br />
called the repo rate. Repo operations therefore inject liquidity into the <br />
system. Reverse repo operation is when RBI borrows money from banks by lending <br />
securities. The interest rate paid by RBI is in this case is called the reverse <br />
repo rate. Reverse repo operation therefore absorbs the liquidity in the system. <br />
The collateral used for repo and reverse repo operations comprise of Government <br />
of India securities. Oil bonds have been also suggested to be included as <br />
collateral for Liquidity adjustment facility</p><br />
<p>Liquidity adjustment facility has emerged as the principal operating <br />
instrument for modulating short term liquidity in the economy. Repo rate has <br />
become the key policy rate which signals the monetary policy stance of the <br />
economy.</p><br />
<p>The origin of repo rates, one of the component of liquidity adjustment <br />
facility, can be traced to as early as 1917 in U.S financial market when war <br />
time taxes made other sources of lending unattractive . The introduction of <br />
Liquidity adjustment facility in India was on the basis of the recommendations <br />
of Narsimham committee on banking sector reforms. In April 1999, an interim LAF <br />
was introduced to provide a ceiling and the fixed rate repos were continued to <br />
provide a floor for money market rates. As per the policy measures announced in <br />
2000, the Liquidity Adjustment Facility was introduced with the first stage <br />
starting from June 2000 onwards. Subsequent revisions were made in 2001 and <br />
2004. When the scheme was introduced, repo auctions were described for <br />
operations which absorbed liquidity from the system and reverse repo actions for <br />
operations which injected liquidity into the system. However in international <br />
nomenclature, repo and reverse repo implied the reverse. Hence in October 2004 <br />
when revised scheme of LAF was announced, the decision to follow the <br />
international usage of terms was adopted.</p><br />
<p>Repo and reverse repo rates were announced separately till the monetary <br />
policy statement in 3.5.2011. In this monetary policy statement, it has been <br />
decided that the reverse repo rate would not be announced separately but will be <br />
linked to repo rate. The reverse repo rate will be 100 basis points below repo <br />
rate. The liquidity adjustment facility corridor, that is the excess of repo <br />
rate over reverse repo, has varied between 100 to 300 basis points. The period <br />
between April 2001 to March 2004 and June 2008 to early November 2008 saw a <br />
broader corridor ranging from 150-250 and 200-300 basis points respectively. <br />
During March 2004 to June 2008 the corridor was narrow with the rates ranging <br />
from 100-175 basis points. A narrow LAF corridor is reflected from November 2008 <br />
onwards. At present the width of the corridor is 100 basis points. This corridor <br />
is used to contain any volatility in short term interest rates.</p><br />
<br />
<br />
==References==<br />
#http://www.rbi.org.in/<br />
<br />
<br />
==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=316 Gayatri Nair, IES(2004)]<br />
<br />
[[Category:concepts|L]]</div>Gayatrinair25