New Delhi, January 1
It may rain jobs in the New Year as companies are gearing up to add over 8 lakh employees to their payrolls and dole out salary hikes of up to 20 per cent to best performers in 2014, say experts.

As per estimates of various human resource consultants, the year 2014 seems promising for job market unlike 2013, when hirings went slow across mid and senior levels and recruitments were done only to replace “key” gaps.

In the New Year, the country is likely to witness a huge surge of opportunities for job seekers with more and more corporates investing in their businesses.

“Yes, 2014 looks bullish on hiring. 2014 will be seen as a good happening year from the jobs perspective as the global economy is improving and India being one of the largest service provider for the global market,” leading executive search firm GlobalHunt MD Sunil Goel said.

According to industry estimates, over 8.5 lakh new jobs may be created in the calendar year 2014. The issuance of new banking licences will be a major contributor, while IT, healthcare, agri-business, infrastructure and education sectors are also likely to witness robust hiring trends.

“The last calendar year was not good either for job seekers or for employers due to uncertain and fluctuated economical and political conditions. 2014 is coming with positive vibes for jobseekers and expecting to create 8.5 lakh jobs in different 
sectors,” Rajesh Kumar, CEO, MyHiringClub.com & FlikJobs.com said.

With regards to salary, the average hike for most sectors is expected in single digits, while top performers can expect a pay rise of around 15-20 per cent in 2014, the experts say.

“This New Year is going to bring cheer for employees with a salary hike of double-digit of at least 10-12 per cent. In 2014, companies are expected to revise the compensation package and explore a more motivational approach,” Indian Staffing Federation vice-president Rituparna Chakraborty said.

“All indications are that the average increase will be around 10 per cent across the industries. However, as pressure is mounting on companies to keep its growth intact, high achievers will be getting increase better than last year, which may range between 15-18 per cent in different sectors,” GHCL Ltd VP and Head-Human Resources Rajesh Tripathi said.

Echoing similar sentiments, Vdopia's spokesperson, Preetesh Chouhan, VP-APAC, believes ideally a high performer receives an incremental hike of 12-15 per cent in comparison to an average rise in salary.

According to Changeyourboss.com CEO Bhupender Mehta, sectors like services, mining, construction and infrastructure are expected to up their hiring activities and companies are expected to give a 12 per cent average salary hike. — PTI

New Delhi, January 1
“You want land, go and buy land” was the message given to the worried industry by Rural Development Minister Jairam Ramesh on the day when the new Land Acquisition Act came into force.

Ramesh allayed apprehensions of the industry saying that there was no bar whatsoever on the purchase of private land, but the industry must look beyond land acquisition by the government and explore land purchase opportunities.

The minister said, “It will not take more than three to three-and-a-half years if the acquisition is made with a saaf neeyat (good intention).”

“The problem is that the land acquisition in this country is not done with good intentions. Where 100 acres is needed, 1,000 acres is acquired,” he said.

The new Act, he said, had been enacted to address “widespread and historical injustices” done to tribals and farmers who were subjected to forceful displacement while acquiring land using the old Act. “If implemented properly in the Maoist-affected areas, its effect will be visible in two years,” he said.

Investors, however, have expressed apprehension that the new law — the Right to Fair Compensation and Transparency in Rehabilitation and Resettlement Act, 2013, which replaces the archaic Land Acquisition Act, 1984 —would make land acquisition more expensive for industrial and infrastructure development.

The minister said the new law would apply only to the land acquired by central and state authorities for any public purpose. There was no bar on the purchase of private land. The government would not acquire any land for private investors for their projects. “Why should the government acquire land to a private builder to construct country homes for the well-offs?” he asked.

The Act was passed by both Houses of Parliament last year and received Presidential assent on September 27. 

When the retrospective clause is effective

n Where land acquisition proceedings under the old Act have started and the award has not been announced.

n Where the award has been announced for the acquired land five years ago, but its physical possession has not taken place.

n Where acquisition proceedings have started five years ago under the old Act, but a majority of the farmers have not been paid the compensation. In such circumstances, the compensation will have to be paid as per the new Act.

 New Delhi, January 1
The government today indicated further liberalisation of the foreign direct investment (FDI) policy in coming weeks to attract foreign investments into the country.

“The government will continue its endeavour for liberalising the FDI policy further in the coming weeks to ensure that India retains its leadership position for attracting foreign investments,” Commerce and Industry Minister Anand Sharma said in a statement.

Last year, the government has relaxed the FDI norms in several sectors such as telecom, defence, PSU oil refineries, commodity bourses, power exchanges and stock exchanges.

In 2013, India was rated as the most favoured investment destination globally, he said, adding “The decisions of the government have resonated with the global community and we have seen results in the last few months.”

The ministry is now working to relax the FDI norms in railways and construction activities. During April-October this fiscal, India attracted FDI worth $12.6 billion, a decline of 15 per cent over the same period last year.

Expressing optimism over the economy in 2014, he said the coming months would see a greater push for development of industrial corridors across the country and work would commence for establishment of the first few cities along the Delhi-Mumbai Industrial Corridor (DMIC).

The $90-billion DMIC project is aimed at creating mega industrial infrastructure along the Delhi-Mumbai Rail Freight Corridor, which is under implementation. Japan is providing financial and technical aid for the project, which will cover seven states totalling 1,483 km.

“I expect that with greater foreign investment and technology collaborations, Indian manufacturing will also move up the value chain and acquire greater competitiveness globally,” he said.

On India’s exports, Sharma said despite weak demand in traditional markets, shipments had done reasonably well during the first eight months of the current fiscal.

“I am sure that in the remaining period of this financial year, exports will show a strong and dynamic growth,” he said.

In April-November 2013, exports grew by 6.27% to $204 billion while imports aggregated at $304 billion. Trade deficit for the period stood at $100 billion.

Further, he said the steps taken by the government both on fiscal and current account front had yielded positive results. —PTI

BRIEFLY

ATF price up by 2.7%
New Delhi: The jet fuel or aviation turbine fuel (ATF) prices were on Wednesday hiked by over 2.7%, the second increase in rates in a month. The ATF price at Delhi was hiked by Rs 2,036.59 per kilolitre, or 2.74%, to Rs 76,241.33 per kl, according to Bharat Petroleum Corp Ltd (BPCL). The increase follows a marginal Rs 597.48 per kl or 0.8% hike in rates effected from December 1. — PTI

Re down 10 paise vs dollar
Mumbai: The rupee washed out almost all of the previous day’s gains and fell 10 paise to 61.90 against the dollar on Wednesday in a lukewarm session on the first trading day of the New Year. — PTI

Trai imposed `5 cr fine in 2013
New Delhi: The Telecom Regulatory Authority of India (TRAI) imposed fines totalling about Rs 5 crore in 2013 on operators for poor services and on telemarketers for pesky calls. The regulator disconnected 9 lakh numbers and blacklisted over 1.74 lakh unregistered individuals for making pesky calls and SMSes during the year. — PTI

Ex-Infy board member joins AAP
Bangalore: In a surprise move, V. Balakrishnan, who stepped down as the Board member of Infosys recently creating ripples in the corporate circles, has joined the Aam Admi Party. “Yes, I have become the AAP member, have got the confirmation on Wednesday,” Balakrishnan said.— PTI

IRDA to charge service tax
New Delhi: The Insurance Regulatory Development Authority (IRDA) will charge service tax from industry players on providing services such as registration and renewal. The regulator is required to collect service tax from its insurance companies, brokers and agents, said an IRDA notification. TPAs, insurance repositories, web aggregators, referral entities and surveyors too will have to pay tax for availing services, it said.— PTI