All things Money Thread
- Thread starter Big Daddy
- Start date
This is very Scarry.
You mean on BCMT.
Yes, why not? This is a show off site to an extent. These people go after people with money and cars. Here you get pictures of everything you need. If people can get names, business locations, living address and family members then it is only matter of time. This whole business needs a degree of social engineering and that can be easily done here. I have seen elements of that on this board and that does not mean that these are bad people but all it means is that this can be done here easily. What is not known here can then be found by going to other sites like Facebook, etc. People do have the required IT skills on this board.
But one needs a criminal bend of mind to do that.
Same information is available to family friends, neighborhood, co workers e.t.c. but that does not means you are at high risk.
That is true.
cat
Senior Billi
It's something i realised in last few years, there is no limit to what people do to maintain themselves. I mean there is all types of things.
Then like one person said, with the pandemic situation...lockdown situation, now it is worse, it is more. So many people had to come up with something else to do. Media mentions it, in passing, but it is much more and much worse than the media shows.
Then like one person said, with the pandemic situation...lockdown situation, now it is worse, it is more. So many people had to come up with something else to do. Media mentions it, in passing, but it is much more and much worse than the media shows.
adsatinder
Peace
Economic recovery is not complete
By Mahesh Vyas
December 04, 2020 10:54 IST
The recovery seen in the increased economic activity till September or October is running out of steam.
Labour statistics indicate a substantial slowing down of the economy in November, notes Mahesh Vyas.
IMAGE: Balbir Singh sells food items to customers from his food stall, at Meera Bagh in New Delhi, October 22, 2020.
Singh opened the food stall on his scooter after he lost his job as a driver in a hotel, owing to the coronavirus pandemic.
Now, he doesn't feel the need to get a job again as he became self-employed. Photograph: PTI Photo
Labour markets have been weakening in the last four weeks.
The labour participation rate and the employment rate have fallen in each of these.
The unemployment rate has bounced between 5.5 per cent and 7.8 per cent with an average of 6.8 per cent.
But, this is almost inconsequential. What is important is that the labour markets were unable to absorb adequate proportions of the working age population during the festive season of 2020.
Labour participation touched a recent peak of 41.3 per cent in the week ended October 25.
Since then, it has slid in each of the following four weeks.
Note that this recent peak of 41.3 per cent itself is very low.
Labour participation had reached 42 per cent in June during its recovery from the fall in April and May.
The level could not be sustained.
The LPR oscillated between 40.4 per cent and 42.2 per cent during mid-June through late August. Then, it fell during September and October to between 40 and 41.4 per cent.
We had expressed concern that the recovery process had started showing signs of fatigue in July.
This has turned out to be true. The LPR did not recover entirely before it started sliding again.
The average LPR in 2019-20 was 42.7 per cent. It had never fallen below 42 per cent till the lockdown.
Now, it seems to be heading towards a sub-40 per cent level.
The LPR was 39.5 per cent in the week ended November 15 and it was 39.3 per cent in the week ended November 22.
A falling LPR implies that an increasingly smaller proportion of the working age population is seeking employment.
In absolute terms, the LPR translates into the labour force.
If the LPR continues to fall sharply, the labour force shrinks.
This is what happened in September 2020 after the recovery process lost steam.
This labour force stagnated in October. It could be falling in November.
This is worrisome. The unemployment rate is the proportion of the labour force that fails to find employment.
In the week ended November 22, 7.8 per cent of the labour force could not find employment.
This is much higher than the 5.5 per cent unemployment rate pencilled in the preceding week.
Or, compared to any of the preceding four weeks when the unemployment rate hovered between 5.5 per cent and 7.2 per cent. The sharp rise of the unemployment rate is against the trend seen since the recovery began.
The trend has been one of falling unemployment rates with an occasional spike.
This happened during the first fortnight of October 10.
Nevertheless, since the sudden rise in the unemployment rate in the latest week of November 22 was accompanied by a fall in the labour participation rate, the result was a steep fall in the employment rate.
This fell by a substantial 114 basis points from 37.38 per cent in the week ended November 15 to 36.24 per cent in the week ended November 22.
The employment rate is the best measure of the summary health of the Indian economy.
It measures the proportion of working age population that are employed.
The employment rate was 39.4 per cent in 2019-2020.
It has been falling systematically since 2016-2017 when it was 42.8 per cent. It dropped to 27.2 per cent in April and was at 30.2 per cent in May.
Then it rose hesitatingly to reach 37.8 per cent in October.
In the first three weeks of November the employment rate has been sliding slowly and steadily.
It was 37.5 per cent in the first week, then 37.4 per cent in the second week and now 36.2 per cent in the third week.
The 36.2 per cent employment rate in the week of November 22 is the lowest employment rate since the recovery stagnated in late June 2020.
It also marked the fourth consecutive fall in the rate since the week of October 25.
The deterioration of labour metrics in November is a signal again, of the early exhaustion of the recovery process that began in late May this year.
The recovery is not complete.
The employment rate never reached its pre-lockdown levels. And before reaching there, it has started to decline again.
In the past few weeks, India has been celebrating a quick recovery of its economy from the precipitous fall suffered in April and May.
Labour statistics from CMIE's Consumer Pyramids Household Survey were the first to quantify the intensity of the economic cost of the lockdown.
It was also the first to chronicle the quick and substantial recovery of the economy.
Subsequently, fast-frequency official production statistics including the Index of Industrial Production, railway freight movement and GST collections charted a similar trajectory.
However, the recovery seen in the increased economic activity till September or October is running out of steam.
Labour statistics indicate a substantial slowing down of the economy in November.
A brisk beginning of the rabi sowing season provides some hope that agriculture will continue to perform well in the current fiscal year.
But India worked hard to move labour out of low-productivity farms into higher productivity factories and then offices.
It cannot revel in a reverse migration of labour back to the farmlands.
Mahesh Vyas is MD and CEO of CMIE P Ltd.
Economic recovery is not complete
By Mahesh Vyas
December 04, 2020 10:54 IST
The recovery seen in the increased economic activity till September or October is running out of steam.
Labour statistics indicate a substantial slowing down of the economy in November, notes Mahesh Vyas.
IMAGE: Balbir Singh sells food items to customers from his food stall, at Meera Bagh in New Delhi, October 22, 2020.
Singh opened the food stall on his scooter after he lost his job as a driver in a hotel, owing to the coronavirus pandemic.
Now, he doesn't feel the need to get a job again as he became self-employed. Photograph: PTI Photo
Labour markets have been weakening in the last four weeks.
The labour participation rate and the employment rate have fallen in each of these.
The unemployment rate has bounced between 5.5 per cent and 7.8 per cent with an average of 6.8 per cent.
But, this is almost inconsequential. What is important is that the labour markets were unable to absorb adequate proportions of the working age population during the festive season of 2020.
Labour participation touched a recent peak of 41.3 per cent in the week ended October 25.
Since then, it has slid in each of the following four weeks.
Note that this recent peak of 41.3 per cent itself is very low.
Labour participation had reached 42 per cent in June during its recovery from the fall in April and May.
The level could not be sustained.
The LPR oscillated between 40.4 per cent and 42.2 per cent during mid-June through late August. Then, it fell during September and October to between 40 and 41.4 per cent.
We had expressed concern that the recovery process had started showing signs of fatigue in July.
This has turned out to be true. The LPR did not recover entirely before it started sliding again.
The average LPR in 2019-20 was 42.7 per cent. It had never fallen below 42 per cent till the lockdown.
Now, it seems to be heading towards a sub-40 per cent level.
The LPR was 39.5 per cent in the week ended November 15 and it was 39.3 per cent in the week ended November 22.
A falling LPR implies that an increasingly smaller proportion of the working age population is seeking employment.
In absolute terms, the LPR translates into the labour force.
If the LPR continues to fall sharply, the labour force shrinks.
This is what happened in September 2020 after the recovery process lost steam.
This labour force stagnated in October. It could be falling in November.
This is worrisome. The unemployment rate is the proportion of the labour force that fails to find employment.
In the week ended November 22, 7.8 per cent of the labour force could not find employment.
This is much higher than the 5.5 per cent unemployment rate pencilled in the preceding week.
Or, compared to any of the preceding four weeks when the unemployment rate hovered between 5.5 per cent and 7.2 per cent. The sharp rise of the unemployment rate is against the trend seen since the recovery began.
The trend has been one of falling unemployment rates with an occasional spike.
This happened during the first fortnight of October 10.
Nevertheless, since the sudden rise in the unemployment rate in the latest week of November 22 was accompanied by a fall in the labour participation rate, the result was a steep fall in the employment rate.
This fell by a substantial 114 basis points from 37.38 per cent in the week ended November 15 to 36.24 per cent in the week ended November 22.
The employment rate is the best measure of the summary health of the Indian economy.
It measures the proportion of working age population that are employed.
The employment rate was 39.4 per cent in 2019-2020.
It has been falling systematically since 2016-2017 when it was 42.8 per cent. It dropped to 27.2 per cent in April and was at 30.2 per cent in May.
Then it rose hesitatingly to reach 37.8 per cent in October.
In the first three weeks of November the employment rate has been sliding slowly and steadily.
It was 37.5 per cent in the first week, then 37.4 per cent in the second week and now 36.2 per cent in the third week.
The 36.2 per cent employment rate in the week of November 22 is the lowest employment rate since the recovery stagnated in late June 2020.
It also marked the fourth consecutive fall in the rate since the week of October 25.
The deterioration of labour metrics in November is a signal again, of the early exhaustion of the recovery process that began in late May this year.
The recovery is not complete.
The employment rate never reached its pre-lockdown levels. And before reaching there, it has started to decline again.
In the past few weeks, India has been celebrating a quick recovery of its economy from the precipitous fall suffered in April and May.
Labour statistics from CMIE's Consumer Pyramids Household Survey were the first to quantify the intensity of the economic cost of the lockdown.
It was also the first to chronicle the quick and substantial recovery of the economy.
Subsequently, fast-frequency official production statistics including the Index of Industrial Production, railway freight movement and GST collections charted a similar trajectory.
However, the recovery seen in the increased economic activity till September or October is running out of steam.
Labour statistics indicate a substantial slowing down of the economy in November.
A brisk beginning of the rabi sowing season provides some hope that agriculture will continue to perform well in the current fiscal year.
But India worked hard to move labour out of low-productivity farms into higher productivity factories and then offices.
It cannot revel in a reverse migration of labour back to the farmlands.
Mahesh Vyas is MD and CEO of CMIE P Ltd.
Economic recovery is not complete
adsatinder
Peace
4 states worst affected by rising inflation
By Indivjal Dhasmana
Last updated on: December 03, 2020 08:45 IST
At over 6 per cent, most states in October had inflation rates above the Reserve Bank of India’s target band of 2-6 per cent.
Four states — Andhra Pradesh, Odisha, Telangana, and West Bengal — saw the maximum rise in prices in October, with retail inflation rate in double digits against the national average of 7.61 per cent — which was a six-year high.
Comparing this to January, when inflation at the national level — at 7.59 per cent — was closer to October’s figure, shows a different trend.
In the first month of this calendar year, none of the states had inflation rates in double digits, highlighting that the price rise was more evenly distributed among states in January than in October.
In September, only West Bengal had a double-digit inflation rate.
Rural most affected
In October, all the four states had inflation rates over 10 per cent in rural areas.
Another state not in the list — Chhattisgarh — also had 10.19 per cent inflation rate in rural areas, but with urban areas at 7.01 per cent, the overall price rise was recorded at 8.95 per cent in the state.
Only West Bengal among these states had double-digit inflation rate in urban areas, besides Bihar, which witnessed overall inflation rate at 9.76 per cent, almost touching double digits.
Odisha and Chhattisgarh also had a wide variation in inflation rates in their rural and urban areas.
While villages in Odisha saw prices rising 11.13 per cent, cities and towns witnessed a 7.61 per cent rate.
The rural areas of Chhattisgarh saw 10.19 per cent inflation rate, while urban areas witnessed 7.01 per cent.
Besides Bihar, Assam — at 9.26 per cent — also recorded inflation over 9 per cent but less than 10 per cent.
Aditi Nayar, principal economist at ICRA, said, “Different timelines for extension of localised lockdowns, variation in availability or urban and rural labour, as well as a differentiated pace of economic revival, could have contributed to higher inflation rates in some states.”
Most breach RBI target
At over 6 per cent, most states in October had inflation rates above the Reserve Bank of India’s target band of 2-6 per cent.
Only states such as Delhi, Rajasthan, Himachal, Punjab had inflation rates less than 6 per cent.
The RBI is mandated by law to keep the inflation rate within the 2-6 per cent range at the national level.
October was the fifth straight month that saw inflation above the RBI’s mandate.
If imputed inflation rates for April and May are also taken into account, October was the seventh month in a row to breach the upper band of the RBI’s target.
Imputation means prices of some groups are taken as substitutes of those of similar segments (and assorted accordingly) for which information is not available.
This happened as the country was under a lockdown in April and May.
While the market expects headline inflation to ease to 4.2 per cent in Q4 from 6.6 per cent in Q2, Motilal Oswal has estimated inflation to remain at 6 per cent in December and January before rising back to 6.5 per cent by March and staying at 6 per cent till September.
Photograph: PTI Photo
4 states worst affected by rising inflation
By Indivjal Dhasmana
Last updated on: December 03, 2020 08:45 IST
At over 6 per cent, most states in October had inflation rates above the Reserve Bank of India’s target band of 2-6 per cent.
Four states — Andhra Pradesh, Odisha, Telangana, and West Bengal — saw the maximum rise in prices in October, with retail inflation rate in double digits against the national average of 7.61 per cent — which was a six-year high.
Comparing this to January, when inflation at the national level — at 7.59 per cent — was closer to October’s figure, shows a different trend.
In the first month of this calendar year, none of the states had inflation rates in double digits, highlighting that the price rise was more evenly distributed among states in January than in October.
In September, only West Bengal had a double-digit inflation rate.
Rural most affected
In October, all the four states had inflation rates over 10 per cent in rural areas.
Another state not in the list — Chhattisgarh — also had 10.19 per cent inflation rate in rural areas, but with urban areas at 7.01 per cent, the overall price rise was recorded at 8.95 per cent in the state.
Only West Bengal among these states had double-digit inflation rate in urban areas, besides Bihar, which witnessed overall inflation rate at 9.76 per cent, almost touching double digits.
Odisha and Chhattisgarh also had a wide variation in inflation rates in their rural and urban areas.
While villages in Odisha saw prices rising 11.13 per cent, cities and towns witnessed a 7.61 per cent rate.
The rural areas of Chhattisgarh saw 10.19 per cent inflation rate, while urban areas witnessed 7.01 per cent.
Besides Bihar, Assam — at 9.26 per cent — also recorded inflation over 9 per cent but less than 10 per cent.
Aditi Nayar, principal economist at ICRA, said, “Different timelines for extension of localised lockdowns, variation in availability or urban and rural labour, as well as a differentiated pace of economic revival, could have contributed to higher inflation rates in some states.”
Most breach RBI target
At over 6 per cent, most states in October had inflation rates above the Reserve Bank of India’s target band of 2-6 per cent.
Only states such as Delhi, Rajasthan, Himachal, Punjab had inflation rates less than 6 per cent.
The RBI is mandated by law to keep the inflation rate within the 2-6 per cent range at the national level.
October was the fifth straight month that saw inflation above the RBI’s mandate.
If imputed inflation rates for April and May are also taken into account, October was the seventh month in a row to breach the upper band of the RBI’s target.
Imputation means prices of some groups are taken as substitutes of those of similar segments (and assorted accordingly) for which information is not available.
This happened as the country was under a lockdown in April and May.
While the market expects headline inflation to ease to 4.2 per cent in Q4 from 6.6 per cent in Q2, Motilal Oswal has estimated inflation to remain at 6 per cent in December and January before rising back to 6.5 per cent by March and staying at 6 per cent till September.
Photograph: PTI Photo
4 states worst affected by rising inflation