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Monday
May 2020
9:24 PM IST
News Headlines
Need to find a way to outlast Pujara in summer series: Cummins        La Liga can resume week of June 8 - Spanish Prime Minister        Extend loan automatically to all eligible borrowers without fear of 3Cs: FM to banks        Will try to restart international flights before August: Puri        Iran warns US not to interfere with Venezuela oil shipment        Sri Lanka to ease coronavirus restrictions from May 26        Coronavirus cases cross 10,000-mark in Ahmedabad, 24 deaths        Amphan toll rises to 85 in Bengal; protests over electricity, water supply        Prisoners aged above 60 to be released on emergency parole to decongest jail in Delhi        Record jump in COVID-19 cases, 137 more deaths        Bryant items fetch premium prices, Trout card sets record        Baseball players respond to MLB on virus protocols        RBI extends moratorium on loans for another 3 months till Aug        Sensex, Nifty turn choppy; RIL jumps on KKR deal        Quarantine must for domestic air travellers: Kerala govt        At least 57 killed in Pakistan passenger plane crash in Karachi        China introduces new security bill in parliament to tighten controls over Hong Kong        Trump lashes out at scientists whose findings contradict him        COVID-19 death toll climbs to 3,583 in India        Pak troops shell LoC areas in twin sectors of Poonch, Rajouri        
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Business News
Find out novel ways for revival of economy, not the failed ideas: BMS
 
New Delhi, May 16 (PTI) RSS-backed Bharatiya Mazdoor Sangh (BMS) on Saturday asked the government to "find novel ways to revive the economy and not failed ideas".
The comments came after Finance Minister Nirmala Sitharaman unveiled the fourth edition of the revival package for the economy facing the impact of lockdown to combat COVID-19.

"The fourth day of announcements of FM is a sad day for the nation and its people, who were on a euphoria hearing the first three days’ announcements," a BMS statement said.

Eight Sectors (Coal, Minerals, Defence Production, Airspace management, airports, Power distribution, Space, Atomic Energy) are in focus but the government saying that it has no option except privatization is a show of dearth of ideas on economic revival in times of crisis, it said.

The impact of every change first falls adversely on employees. For employees, privatisation means massive job loss, below quality jobs will be generated, profit-making and exploitation will be the rule in the sector, it said.

The government becoming shy of consultation and dialogue with trade unions, social representatives and stakeholders shows lack of confidence in their own ideas and is highly condemnable, it said.

"For our policymakers structural reforms and competition mean privatisation. But we have recently experienced, in time of crisis private players and market were paralysed and public sector played the crucial role," it opined.

Coal privatisation and for that purpose allotting Rs 50,000 crore is highly objectionable, it said.

Seamless mining, auctioning 500 mining blocks including bauxite and coal blocks, rationalising stamp duty for that purpose is against national interest, it added.

Raising the FDI limit for the defence from 49 per cent to 74 per cent in the name of reducing huge defence bill and corporatisation of ordinance factory board is objectionable, it pointed out.

"Privatisation of space, ISRO, space exploration also will have serious consequences to our security. We depend on space for many security and surveillance measures which are dangerous to be privatised. Indian start-ups are not so much equipped to take up space challenges," it said.

Even atomic energy is being converted to PPP mode which is a major step towards privatisation, it opined. Corporatisation and PPP are the routes for privatisation, and privatisation is the route for "foreignization", it held. PTI


Extend loan automatically to all eligible borrowers without fear of 3Cs: FM to banks
Will try to restart international flights before August: Puri
RBI extends moratorium on loans for another 3 months till Aug
Sensex, Nifty turn choppy; RIL jumps on KKR deal
Rupee rises 13 paise to 75.67 against US dollar in early trade
Bajaj Auto shares jump 6.50 pc after Q4 earnings
Rupee rises 6 paise to 75.60 against US dollar in early trade
Decide corruption cases in time involving retiring bank, govt officials: CVC
Consumers footfall increase, average basket value goes up at retail stores in lockdown 3.0
Decentralisation of cities, devt of far-flung areas can help address migrant workers' woes: Gadkari
Reliance Industries' Rs 53,000-crore rights issue to kick off on May 20
Rupee falls 13 paise to 75.59 against US dollar in early trade
Investor wealth plunges Rs 1.99 lakh cr as mkts plummet
Kotak Mahindra Bank Q4 profit down 4 pc to Rs 1,952 cr
Jet Airways insolvency resolution professional seeks fresh EoI for defunct airline
Rupee falls 22 paise to 75.95 against US dollar in early trade
Maruti resumes operations at Manesar plant on single shift basis
Warehousing demand in 8 major cities drops 29% in Jan-Mar, new supply down 14%: Report
Reliance fixes May 14 as record date for rights issue
Reliance fixes May 14 as record date for rights issue
KERALA NEWS
Quarantine must for domestic air travellers: Kerala govt
 Thiruvananthapuram: Domestic flyers arriving in Kerala must undergo strict home quarantine as per th  
12 fresh COVID-19 cases in Kerala, total rises to 642
Central financial package lacks public healthcare initiatives: Kerala CM
29 fresh cases in Kerala; Over 67,000 under observation
INTERNATIONAL NEWS
Iran warns US not to interfere with Venezuela oil shipment
 Tehran: Iran's president on Saturday warned the United States not to interfere with a shipment of oi
Sri Lanka to ease coronavirus restrictions from May 26
At least 57 killed in Pakistan passenger plane crash in Karachi
China introduces new security bill in parliament to tighten controls over Hong Kong
NATIONAL NEWS
Coronavirus cases cross 10,000-mark in Ahmedabad, 24 deaths
 Ahmedabad: Coronavirus cases in Ahmedabad crossed the 10,000-mark and rose to 10,001 after 277 new p
Amphan toll rises to 85 in Bengal; protests over electricity, water supply
Prisoners aged above 60 to be released on emergency parole to decongest jail in Delhi
COVID-19 death toll climbs to 3,583 in India
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