'There is lack of demand because people have no jobs, and no income.' 'Lakhs of people have lost their jobs and they have no income which has led to no demand in the market.'
If 2019-20 (FY20) was an unusual year for highway construction in India, with the pace of work slowing down for the first time since the Narendra Modi government assumed power in 2014, largely due to the general elections in May and liquidity crunch, the outbreak of the Covid-19 pandemic in 2020-21 (FY21) only made matters worse with lockdowns and labour unavailability. The pace of highway construction in 2021-22 (FY22) has not been able to bulldoze the pandemic barriers in a year marred by two Covid-19 waves - the second at the start of the fiscal year, the third towards the close. With localised lockdowns and restrictions on mobility, highway construction growth in the country has now fallen to a five-year low.
At item level, rice, coconut oil, fish fresh, poultry, milk, onion, vegetables, fruits, sugar, cigarette, electricity charges etc. are responsible for increase in the index.
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
The Essential Defence Services Bill, 2021, introduced by Minister of State for Defence Ajay Bhatt amid din created by the Opposition over three new agri laws and the alleged Pegasus snooping controversy, seeks to replace an ordinance issued in June.
The statement comes in the wake of two independent members of the NSC, P C Mohanan and J V Meenakshi, quitting the Commission over disagreements with the government on the back-series GDP data and delay in release of labour force survey. Mohanan was also the acting chairperson of the Commission.
While majority of the state governments and union territory administrations have made at least seven days' quarantine compulsory for anyone arriving in their jurisdiction, a few of them have opted for home quarantine for those reaching their administrative limits. According to an official estimate, as on May 26, a total of 22.81 lakh people were in quarantine facilities arranged by different states and union territories -- almost double from 12 days ago (May 14) when the people put under quarantine were 11.95 lakh, a government official told PTI.
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
Maharashtra Health Minister Rajesh Tope on Saturday said the lockdown rules will remain unchanged in the state will May 3. Tope said there was no clarity in the Centre's latest order regarding reopening of shops.
India's COVID-19 recoveries have sprinted past 27 lakh, taking the recovery rate to 76.61 per cent, while the case fatality rate has further dropped to 1.79 per cent, the health ministry said on Sunday.
'Modi personally provides the higher direction of the ministry and the minister then works with bureaucrats on implementation,' points out Aakar Patel.
The output of eight core sectors grew by 16.8 per cent in May, mainly due to a low base effect and uptick in production of natural gas, refinery products, steel, cement and electricity, official data released on Wednesday showed. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 21.4 per cent in May 2020 due to the lockdown restrictions imposed to control the spread of the COVID-19 infections. In March this year, these key sectors had recorded a growth of 11.4 per cent, and 60.9 per cent in April.
The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments.
Just a few weeks ago, the Centre has come out with the long-awaited Motor Vehicle Aggregator Guidelines, which have drawn a dismayed response from the companies concerned.
The letter from West Bengal Chief Secretary Rajiva Sinha to Chairman of Railway board V K Yadav dated May 22, stated that the state has been severely impacted by Super Cyclone Amphan on May 20-21 which caused extensive damage to the infrastructure.
Apart from Bihar, Chhattisgarh and Jharkhand, where none of the estimated 6.7 million construction workers got cash transfer benefits, the coverage of the construction workers was the lowest in Delhi, where only about 5 per cent of the estimated workers received cash under the PMGKY, followed by Kerala and Uttar Pradesh (22 per cent), among major states. In India, construction workers belong to the unorganised sector but account for the highest share of non-farm jobs after manufacturing.
Mudasir Ahmed, a businessman from Kashmir, tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
Sawant took the oath in Konkani language.
As the COVID wave gradually shifts to rural areas, several states are gearing up to check its spread through self-proclaimed lockdowns by Panchayati Raj institutions, creating a database of migrants and providing free online medical consultation to the sick.
Centre's off-the-record instructions through WhatsApp and a squeeze on funds brought the rural work programme to collapse after a roaring first half of the year.
He also announced an assistance of Rs 3,000 for accredited journalists while acknowledging their role in the dissemination of information on COVID19.
Under fixed-term employment, workers are entitled to all statutory benefits available to a permanent worker in the same factory. However, employers may not give notice to a fixed-term worker on non-renewal or expiry of his or her contract.
The largest upward contribution to the change in current index came from food group which increased by 1.22 per cent, contributing 1.64 percentage points to the total change. At item level, rice, arhar dal, fish fresh, poultry (chicken), milk, chillies green, garlic, ginger, tomato, root and green vegetables, tea leaf, tea (readymade), cigarette, country liquor prices, electricity charges, medicine (allopathic), and repair charges, are responsible for the rise in index.
Ruia, a chartered accountant whose business ranged from sugar to textiles and heavy engineering to tyres, refused to comment on queries about his interest in Air India.
The migrants were ferried to their villages in sanitised buses arranged by the Jharkhand government to take them home after preliminary medical screening at the station, officials said.
The "intentions and motive" behind filing of the plea are evident from the fact that the instant project has been singled out by the petitioners despite several other agencies, including Delhi Metro, carrying out construction activities across the national capital, the Centre has alleged.
The agriculture ministry, in the last few weeks, issued guidelines and letters to states to ensure agriculture and food products reach consumers in a timely manner, while farmers don't have to come to the mandis to sell them.
The Centre and states are looking to further tighten the GST registration process and legal measures to deal with the rising cases of fake invoicing. A meeting of the law committee of the GST Council has been convened on Wednesday to discuss these issues, finance ministry sources said. The committee, comprising senior central and state tax officers, would also discuss the GST fake invoice frauds, further tightening of the GST registration process and work out other legal measures including necessary law amendment required in the GST Act to curb the menace of fake invoicing, they added. Also the provisions related to deemed registration under Goods and Services Tax (GST) law may be tightened to prevent the misuse of such provisions by fake dealers and the provisions related to suspension of registration may also be streamlined to make the procedure of suspension and cancellation of registration more efficient and faster, so that such fraud operators can be prevented in time from continuing to pass on fake credit down the chain.
Earlier on Wednesday, Reuters reported that Swiss business tycoon Hansjoerg Wyss is considering buying football club Chelsea from Abramovich, Wyss told Swiss newspaper Blick as British lawmakers continued to push for sanctions against the billionaire.
'The belief that FDI will shift from China appears to be a strategy of politicians to keep the media busy, chasing irrelevant news to ward off pressure and questions about the government's plans to deal with COVID,' observes Debashis Basu.
MNREGS labourers are usually engaged in irrigation projects.
With 1,209 new deaths reported across the country, the toll due to the disease stands at 76,271.
His appeal came when certain organisations of the neighbouring Barak Valley region of Assam observed a 12-hour bandh on Wednesday and have been staging an economic blockade on the National Highway-306 that connects Mizoram with the rest of the country since July 26, disrupting transportation of goods to the state.
Seeking to reach out to the fishing community in poll-bound Kerala, Congress leader Rahul Gandhi on Wednesday interacted with the fishermen at Thangassery beach in the district.
Union Finance Minister Nirmala Sitharaman will address a press conference in New Delhi at 4 pm on Wednesday. The information regarding the press conference by the Union finance minister was given through a tweet by the ministry of finance in the morning.
Some of the violations that will lead to community service include failure to pay social security contribution of workers, maintain records, furnish information to inspectors, pay gratuity to workers, provide crche facility and medical pay, and retrenching women workers during maternity leave.
Trade deficit during the month narrowed to USD 14.54 billion from USD 15.3 billion in January 2020. It was USD 15.44 billion in December 2020.
Does IAS officers' work go unappreciated, asks Ajit Balakrishnan.
The chief minister, who had on Wednesday expanded his new cabinet by inducting 29 ministers, had played it safe by and large retaining old faces, as 23 of them were Ministers in the previous Yediyurappa cabinet, while six were new.
Spurring the economy, currently in the throes of a slowdown, remains the prime focus for most ministries, but the government is also looking to make women's welfare and environmental protection key to policymaking in this term.
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