India needs payroll data system to map job creation: Assocham
New Delhi, June 10: India needs to develop a credible system for mapping job creation, at least in the formal sector, to enable government policies to be oriented accordingly, industry chamber Assocham said on Sunday.
Citing the example of inflation data, industrial output and other economic numbers released every month, the industry chamber said that a similar system should be created for the regular release of payroll data.
"Like we release inflation data, industrial output numbers and several other high frequency data every month, we must create a system sooner than later so that the payroll numbers are released month on month," an Assocham statement said here.
"If a large part of the economy is getting formalised, the mapping of job creation should not be difficult," Assocham Secretary General D.S. Rawat said.
"We do not need traditional sample surveys. Since the wages are all paid through banking channels, we can just capture the salary data from the banks, collate it and compare it."
"The monthly data can make it clear that it is about the fresh jobs in the formal sector. With measures like the Goods and Services Tax by which a larger part of the economy gets captured into formalisation, we would go on improving on the job data base," he added.
Payroll data is crucial for any mature economy for anchoring policies with regard to interest rates, welfare measures, investment incentives and taxation, Assocham said.
National economic policies must be data driven, rather than anecdotal pieces of information collected from here and there, it added.
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Power tariffs under BESCOM to rise from May 1
Bengaluru (PTI): Power bills for consumers under the Bangalore Electricity Supply Company Limited (BESCOM) will go up from May 1, following an order issued by the Karnataka Electricity Regulatory Commission (KERC) on Friday.
The hike comes after KERC allowed the BESCOM to recover a revenue deficit of Rs 2,068 crore incurred in 2024-25, from the consumers.
As a result, for every unit of electricity consumed in 2024-25, the customers will be charged an additional 56 paise, it said.
"BESCOM shall calculate, for each of the active consumers of FY2024-25 the amount to be recovered based on their actual energy consumption during FY2024-25. Such amount shall be recovered during FY 2026-27 in equal monthly instalments, to be called as 'FY25 True up Charges', commencing from the first meter reading date falling on or after 1 May 2026 and concluding with the reading date ending on 30 April 2027," the order said.
"It is further ordered that BESCOM shall maintain a separate head of account, allocated for the purpose, to record the adjustment of the said amount to ensure full recovery of the deficit," it added.
Similarly Chamundeshwari Electricity Supply Corporation Limited (CESC) has also recorded a revenue deficit of Rs 121.71 crore and can collect an additional 15 paisa per unit for consumption in 2024-25, official sources said.
