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Historic job growth in 2022 reflects strong but uneven economic recovery: State and local lawmakers should prioritize rebuilding the public sector in 2023

CFO News Room

Although the private sector has recovered quickly, public-sector employment—particularly in state and local government—remains weak. With billions of dollars in relief funds for state and local recovery yet to be spent , this is a once-in-a-generation opportunity to reimagine and rebuild the public sector.

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State and local governments should use ARPA pandemic funds in 2023 to rebuild the public sector and support working families and children

CFO News Room

Sadly, more than $150 billion remains unspent and is sorely needed to bolster public-sector employment and the care economy. As 2023 begins, state and local governments should prioritize spending relief funds on three critical areas that are incredibly important for the welfare of children and families: rebuilding the public sector.

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Hiring activity slows by 10% YoY in November

CFO News

On a month-on-month basis, the government, public sector and defence industries showed the sharpest increase in job postings, with a 14% increase in hiring on the back of government policies and initiatives such as ‘Make In India’ and the Aatmanirbhar Bharat Rojgar Yojana.

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5G spectrum auctions, design-led manufacturing scheme on the cards

CFO News Room

The government will be conducting spectrum auctions this year to enable the launch of 5G services by private telecom operators within the current fiscal. Although the spectrum auctions will be conducted this year, the government has fixed a very modest revenue target from the telecom sector at Rs 52,806.36 in FY22-23.

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Illinois Workers’ Rights Amendment sets new bar for state worker power policy: Other state legislatures should seize the moment to advance worker, racial, and gender justice in 2023

CFO News Room

workers’ basic rights to unionize: 1) threats to repeal or erode public-sector workers’ collective bargaining rights, and 2) threats to constrain private-sector workers’ collective bargaining rights with so-called “right-to-work” (RTW) restrictions that prohibit unions and employers from negotiating union security agreements into union contracts.

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Concessional corporate tax rate: Govt wants private companies to set up new manufacturing units fast

CFO News Room

Stating that direct and indirect tax collections are going up and have good buoyancy, Bajaj said it means that the corporate sector is also doing well, and India’s tax to GDP ratio could be “highest ever” in the current year. And unless the corporate sector does well, I don’t think we can move the wheels of the economy.“So,

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Keep 25-30% in cash now, exhaust fixed income options: Ajay Srivastava

CFO News

Experts suggest investors should maintain 25-30% cash in the bank and purchase government treasury bills or 10-year dated bonds which offer a better yield due to indexation benefits on tax. Private sectors are said to be better investments than public sector banks.