Indian economy resilient enough to overcome challenges

Amid declining value of the rupee and rising inflation, finance minister Pranab Mukherjee on Wednesday said the Indian economy was resilient enough to overcome challenges and the government will make efforts to moderate the rate of price rise and reduce current account deficit (CAD).

“I have full faith in the resilience of the Indian economy and am sure that we will be able to overcome the current economic challenges successfully as we have done in the past, many times,” he said.

Read more: NDTV

Just Arrived

Deloitte India, Human Capital Advisory Services (HCAS) recently concluded a cross-industry compensation trends survey that provided key insights on salary increments and variable pay trends. A total of 142 companies participated in the survey and the key highlights include sectoral analysis on compensation trends. Overall median salary increase across sectors is 12 percent; Manufacturing and infrastructure & real estate sectors have reported highest increment figures for 2012 – 2013 at 15 percent; The financial services sector has been most conservative in increment projection for 2012 –2013 at 10 percent; Overall variable pay (as a percent of CTC) across sectors is 16 percent. The frequency of payout is annual for a majority of companies. Pharmaceutical, healthcare and life sciences faces highest overall attrition at 22 percent. This is followed by ITeS and media & advertising at 16 percent; sectors, which have registered lowest attrition rates, are the manufacturing and energy and resources. According to Catalyst’s latest study, expanding work-life perspectives: Talent Management in Asia, and its related report, Talent Management in India, there’s a mismatch between employees’ workplace flexibility needs and work-life program at global companies in Asia.

Read more:  The Times of India

15 tech jobs that saw plus-20% increment in ‘12

Even in a slowing market, where job cuts and meager salary increases are the norm, some professionals are enjoying robust salary hikes. According to a salary guide for the Asia Pacific, due to be released by staffing firm Kelly Services, permanent positions in some domains have seen an increase of up to 30%, including niche roles such as ERP technical consultant, e-commerce architect, cloud computing architect, risk analyst, environmental engineer, head geologist, project manager, SAP and regulatory affairs director.

“Experienced professionals with niche knowledge, specialist skill sets and leadership capability continue to be sought after across all industry categories and role functionalities in the region,” says Kamal Karanth, MD, Kelly Services India. Shreya Biswas takes a look at some roles that have seen a 20% to 30% increase in salaries this year.

NCR 5th costliest place in Asia-Pac in office rentals

Setting up an office is most expensive in the national capital region in terms of rental cost across the country, while it is fifth costliest place in the entire Asia Pacific region, a study has found. The country’s second most expensive location Mumbai is the only other Indian city among the 10 most expensive locations in Asia Pacific in terms of office rentals (at 10th place), as per the study by consultant Cushman & Wakefield. The list is topped by Hong Kong as the most expensive Central Business Districts (CBD) across Asia Pacific, followed by Tokyo, Beijing and Singapore in the top five, C&W said in its office market report that compared the rental values of Central Business Districts (CBD) across Asia Pacific. The monthly office rentals of NCR stood at Rs 366 per sq ft, meaning an office space measuring about 1,000 sq ft would entail a monthly rent of about Rs 3.7 lakh. “Rentals in the New Delhi CBD location’s have surpassed rental values prevailing in the Mumbai CBD and Bandra Kurla Complex (BKC),” the report said. Office rentals of Mumbai stood at Rs 275 per sq ft a month. Among the Indian cities, Delhi NCR and Mumbai are followed by Kolkata, Bangalore, Chennai, Pune and Hyderabad.

Read more:  The Financial Express | The Economic Times  | Business Standard | The Times of India | The Indian Express  

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