Double Salary for Indian Employees – Some Other Reasons Bring Cheer to this Festive Season!!

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Double Salary for Indian Employees - Some Other
Double Salary for Indian Employees - Some Other

Double Salary for Indian Employees – Some Other Reasons Bring Cheer to this Festive Season!! Festivals are being celebrated as the number of Covid infections is decreasing across the country. Covid restrictions have been fully relaxed in all states of India. Meanwhile, the number of new hires in e-commerce and technology companies has continued to rise. However, the ongoing war in Ukraine and inflation have dampened festival enthusiasm.

IT Hiring Will Drop to 20% in FY 2023-24 | Report Said!!

Last month, India overtook the UK to become the world’s fifth largest economy. And reports suggest that India will become the third largest economy by 2029. According to the International Monetary Fund (IMF) forecast, India is expected to grow by 7.4% in FY2023. Meanwhile, there are reports that Indian workers will be given a double wage hike in the next financial year. According to an AON PLC survey on this, average wage increases in India will increase by 10.4% by 2023.

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Of these, e-commerce companies are offering the highest wage hike of 12.8%. Similarly, start-ups (12.7%), hi-tech, information technology, and IT-related services (11.3%), and financial institutions (10.7%) are likely to give their employees a pay rise. On the other hand, reports say that India’s infant mortality rate (IMR) for boys and girls is almost equal in the year 2020. Meanwhile, India has recorded “normal” or “above normal” monsoons for the fourth year in a row. Although some damage was caused by this rain, its overall impact was reported to be not that great.

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