The maximum increase in employee cost, which includes salaries, welfare expenses, contribution to funds, and other employee costs, has been seen majorly in top IT/ITeS companies and banks. These two sectors have added employees even amidst Covid disruptions.
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Highest increase in employee costs
IT/ITeS and banking sectors have added employees even amidst Covid disruptions.

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When Interest Rates Head North…
Pricier overseas borrowing, higher bank loan rates and large issuances triggered the demand for corporate bonds.

Expenditure on Central schemes up 20% in FY24
India's expenditure on Central schemes in FY23 rose from budgeted ₹16.2 lakh crore to ₹18.6 lakh crore.

Retail, NBFCs drive credit offtake in FY23
India's gross bank credit off-take rose 15% in FY23 to ₹136.8 lakh crore. The growth was led by sectors such as NBFCs, personal loan and services segments.

The Start-up Boom
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More FromInfographics

When Interest Rates Head North…
Pricier overseas borrowing, higher bank loan rates and large issuances triggered the demand for corporate bonds.

Expenditure on Central schemes up 20% in FY24
India's expenditure on Central schemes in FY23 rose from budgeted ₹16.2 lakh crore to ₹18.6 lakh crore.

Retail, NBFCs drive credit offtake in FY23
India's gross bank credit off-take rose 15% in FY23 to ₹136.8 lakh crore. The growth was led by sectors such as NBFCs, personal loan and services segments.

The Start-up Boom
The Indian start-up ecosystem is now the third-largest in the world, thanks to the rise of digital technologies and growth in the number of young entrepreneurs.
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