"Jobs must be protected even if it means some reduction in compensation at various levels in these times of economic downturn," thundered the Union finance minister, Pranab Mukherjee, at the International Labour Conference recently.

Clearly, the Central government and the finance ministry in particular, seem to practice the contrary.

During the current fiscal year, the incremental growth in the headcount of the bureaucracy is estimated at 91,907.

And, if we go by the interim budget figures, the ranks of those who serve in the finance ministry are expected to go up by 30,315 or by as much as 33% of the additional influx to the corridors of power.

The global financial crises have India in their grip, too. Weak demand and a sharp fall in commodity prices have adversely impacted the profitability of Indian companies. In such a situation, the smaller players are predictably more affected compared with larger ones, particularly the highly leveraged companies facing an acute shortage of funds.

Washington  - If massive government action to revive the US economy is successful the recession affecting the world's largest economy could begin to turn around this year, Federal Reserve Chairman Ben Bernanke said Tuesday.

Testifying before the US Senate Banking Committee, the central bank chairman said the government stimulus is essential to break the cycle of adverse feedback that helps to keep the economy down.

Stock analysts have maintained ‘buy’ rating on Reliance Capital stock with an intraday target of Rs 441.

According to them, interested traders can purchase the stock between Rs 426-428 with a strict stop loss of Rs 405. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 450.