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.
Chemicals, heavy engineering, automobiles, transportation and steel are some of the sectors which need supportive policy decisions, the industry has demanded. The committee of secretaries headed by cabinet secretary K M Chandrashekhar will meet industry representatives from sectors which feel that they need help from the government to tide over the economic crisis.
Some of India's biggest employers are testing for antibodies to either comply with regulatory norms or gauge the effectiveness of precautionary measures.
The regulator said if the variable pay is up to 200 per cent of the fixed pay, at least 50 per cent of it should be in non-cash, and if the variable pay is above 200 per cent, 67 per cent of it should be paid via non-cash instruments.
'The economy needed 3 or 4 major fixes. The major one was, of course, the direct tax structure, but we ended up complicating the existing convoluted tax structure,' says M R Venkatesh, chartered accountant and lawyer.
Several opposition members, including from the Dravida Munnetra Kazagham and the Communist Party of India-Marxist, also pointed out that the government took almost two months to impose the lockdown after the first case came to light in January, and claimed the delay had proved costly.
President Ram Nath Kovind addressed the nation on the eve of India's 75th Independence Day. Here's the text of what he said:
Despite higher allocations, core sector likely to see reduced profitability.
'The situation is quite terrifying as you have no job creation and there will be loss of jobs.'
'Let us all keep calm and face this medical emergency unitedly.' 'Our top priority is to fight the pandemic and win this war.'
Singh also interacted with delegations representing different communities, including Kashmiri Pandits, Sikhs, Shias, Gujjars, Bakarwals and Paharis.
The centre will be cautious in withdrawing the fiscal stimulus packages given to key-sectors and will do so only after ensuring growth is sustainable in the economy, Union Minister for Commerce and Industry Anand Sharma said.
Trade, transport and hotels form a major part of the country's GDP and these sectors were crippled by the strike
The year saw India's biggest corporate fraud, falling earnings, stock market crash, job losses and soaring food prices which hit the common man
Irani said the "Government of India took a series of measures for ensuring safety, security and well-being of women during the COVID-19 pandemic."
The Indian Army has shown it can face down the PLA, but is too often held back by a political leadership that lacks boldness, asserts Ajai Shukla.
Thursday's announcement partially fulfils a provision in the Persons with Disabilities Act, 1995, offering the private sector incentives to reserve 5 per cent of jobs for this category of people. The central scheme approved by the Cabinet Committee on Economic Affairs provides for funds to pay the employers' share of the Employees Provident Fund and Employees State Insurance each year for the first three years.
The increase in excise duty will have minimal impact on supplies to other user industries, as it is cenvatable. Where the industry supplies to the replacement sector without providing the break up of the product and the excise duty, impact will be felt. So, the players have to hike prices in respect of the supplies to replacement market.
FM's revival package for life insurance sector will lead to high growth-high risk investments, lesser documentation
The Interim Budget highlights the focus on aam aadmi in the development process. The year 2008-09 has seen substantial increase in outlays spanning across sectors.
Continue the lower excise duty on various commodities, as similar to FY 09-10, says the glass industry.
The government is expected to infuse Rs 200 crore (Rs 2 billion) into Scooters India shortly as the Cabinet approval is there in place for revival, said O P Rawat, Secretary, Department of Public Enterprises.
''Fashion without a conscience is a ticking time bomb.'
Dairy companies in the organised sector are yet to state their stance on the proposed stir
'The financial sector will be hit even harder than the overall market.' 'The banking sector will eventually be rescued.' 'But it may go into a long downwards spiral before things turn around.' 'Threat or buying opportunity?' asks Devangshu Datta.
Value addition is one of the chief requirements for coconut to become a commercially lucrative crop. Surinder Sud reports.
'MFs have a combined exposure of Rs 3.2 lakh crore to NBFCs, out of which Rs 1.1 lakh crore matures by September 2019.'
Some of the key proposals of the agenda relate to transforming the banking sector, addressing agrarian distress, countering hate crimes and discrimination, and spurring employment generation.
Country can regain growth momentum with rate cuts and telecom reforms.
India's regulators still remain the preserve of the IAS. The time has now come to check out if the government has indeed used the better pay package for its regulators to widen the choice and attract private sector people.
Back of the envelope calculations put government expense on each of the new schemes promised by the DMK and the AIADMK at tens of thousands of crores. But then, neither party has said how they are going to also address the mounting debt burden either, says N Sathiya Moorthy.
Glass and Glass Products: Abolish customs duty on Soda Ash
Shinzo Nakanishi had a total pay package of Rs 2.8 crore (Rs 28 million) last fiscal ended March 31, 2012, slightly higher than Rs 2.4 crore (Rs 24 million) in the previous year, as per Maruti Suzuki's latest annual report for 2011-12.
'Once we are past this electoral season, during which all promises are presented as free lunches, could we bring such non-populist issues into focus?' 'Like fixing the problems of the public sector?' points out T N Ninan.
New foreign trade policy to stress manufacturing exports.
Budget should be a platform for govt to take bold steps.
Among the major ones are fewer restrictions on market access for US medical device manufacturers, as well as access for other key products.
In its letter Voda Idea has warned that it is not in a sound financial state, and added that it would be in a position to meet its liabilities only if the government initiates steps including allowing set-offs for GST credit accumulated so far, and permitting staggered mechanism for payment of balance amount of interest, penalty, and interest on penalty.
There will be uncertainty about outcomes,but one must hope for the best, observes T N Ninan.
