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SBI urges government to release payroll data monthly

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Mumbai, April 25 (IANS) Calling on the government to release payroll data on a monthly basis, state-run State Bank of India said on Wednesday said that this would allow for truer estimates of employment in the country for the benefit of policymakers.

In support of the call, SBI Chief Economist Soumya Kanti Ghosh, in his Ecowrap report titled “Beginning of Payroll Reporting in India”, cited the Ghosh & Ghosh study published in January this year which had estimated that around 70 lakh jobs might be generated in fiscal 2018, and had “advocated the need for monthly payroll reporting in India like in other economies.”

“Research has revealed that the payroll data have the most profound impact of all high frequency economic reports and major policy implications,” the Ecowrap report said.

“It is good that Government has finally accepted the recommendations and released the monthly payroll data from September 2017 to February 2018 as per the records of EPFO, NPS and ESIC.”

“When Ghosh & Ghosh had published the study, it was erroneously criticized by a number of experts that 70 lakh employment generated in this country is wrong. As per the data released by Government, we now find that the Ghosh & Ghosh estimate is significantly close to the actual number of payroll in India,” the Chief Economist said.

Noting that employment counts in India continue to be survey-based that are limited in size, scope, Ecowrap said that “using these to gauge overall numbers could result in completely distorted conclusions”.

“This now needs to be corrected so that debate shifts to analysis based on real time
data,” the report said.

“We recommend that the Government release this data on a monthly basis, as for long, absence of payroll data in India has been the missing link in policy making, and there have been too many conjectures and hypothetical assumptions based on surveys in public domain regarding the size of employment in India,” it added.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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