17
Monday
February 2020
7:09 AM IST
News Headlines
China says significant drop in coronavirus cases; death toll climbs to 1,665        Two more Indians test positive for coronavirus on cruise ship off Japan        Agarwal back among runs, Pant too gets some form back        India to play day-night Test in Australia        Chennaiyin FC beat ATK 3-1 to boost play-off hopes        17 people from Delhi who returned from abroad before coronavirus screening showed symptoms, hospitalised        Kejriwal calls ministers-designate for dinner ahead of swearing-in, discusses development roadmap        Shaheen Bagh protesters say ready to meet Shah, but onus on govt to call them for talks        Surendran new Kerala BJP President        France confirms first coronavirus death outside Asia        Making efforts to disembark Indians from cruise ship after quarantine period ends: Indian Embassy        Kerala beat Chattisgarh by nine wickets in C K Nayudu trophy        Ishant passes fitness test, to join Indian team in NZ for Test series        Kerala Blasters register first win over Bengaluru FC in Hero ISL        Smriti Mandhana rises to 4th in ICC T20 rankings        Bopanna-Shapovalov pair enters semifinals in Rotterdam        DoT withdraws order that asked for no coercive action against defaulting telcos        Sensex, Nifty fall for 2nd day as banking, auto stocks slide        Erdogan raises Kashmir in Pak Parliament, says issue close to both countries        Born on a boat: new baby among 87 rescued off Canary Islands        
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Business News
Over 3,000 temporary jobs cut due to slowdown: Maruti Suzuki
 
New Delhi: Over 3,000 temporary employees have lost jobs with the country's largest carmaker Maruti Suzuki India (MSI) due to the ongoing slump in the automobile industry, a top company executive has said.

MSI Chairman R C Bhargava said contracts of the temporary workers were not renewed due to the slowdown while asserting that permanent workers have not been impacted.

"This is a part of the business, when demand soars, more contract workers are hired and reduced in case of low demand," he said while speaking to some leading private TV channels.

Bhargava was responding to a query on whether the current slump and production cuts have led to job cuts in Maruti.

"Around 3,000 temporary workers have lost jobs with Maruti Suzuki," he added.

Reiterating that automobile sector creates job in the economy from sales, service, insurance, licensing, financing, accessories, drivers, petrol pumps, transportation - he cautioned, "fewer automobiles (sales) will impact jobs on a larger scale."

These are not even visualised. The impact is much higher, he added.

When asked if the industry has hit the rock bottom in terms of sales in July, he said revival in the sense of positive growth will start from third or fourth quarter of this fiscal, partly because of the lower base effect.

"Hopeful to see strong revival in FY 2021. By then transition to BS VI will be over," he added.

Commenting on expectations from the upcoming festival season, he said due to the good monsoon, rural sales may pick up.

"If government makes an announcement and takes positive actions it should help improve the situation," he said, however, it was up to the government to decide on GST rate cut and take the corrective action.

"Personally we would like to see GST benefits linked to greener/cleaner cars...The government gave tax cut on EVs but hybrid should be given duty cut. There should be tax cut on CNG vehicles," he added.


DoT withdraws order that asked for no coercive action against defaulting telcos
Sensex, Nifty fall for 2nd day as banking, auto stocks slide
Sensex rallies over 300 pts ahead of IIP, inflation data releases
ABB India wins orders worth Rs 191 cr
Rupee settles 10 paise higher at 71.30 against USD on easing crude prices, weak dollar
Market falls for second day as coronavirus worries persist
PURE EV to set up second EV scooter unit in Telangana with Rs 100 Cr investment by 2021
Anil Ambani to pay USD 100 mn in conditional order for Chinese banks: UK court
Rupee slips 22 paise to 71.40 against USD on strong dollar demand
Not moving out of Andhra Pradesh, says Kia Motors
Deposit insurance hike: RBI says not to hit banks balance-sheets
Let's work together to make India USD 5-trn economy: PM
Volkswagen opens bookings for two new SUVs
Our target is USD 5 billion of defence export in next five years: Modi
RBI to come out with last monetary policy for FY20 on Thursday
New tax structure gives option to save tax: Revenue Secy
Govt allocates Rs 11,500 cr for Jal Jeevan Mission for FY21
FM proposes to hike customs duty on imported electric vehicles
Rupee rises 25 paise to 71.33 against US dollar
GST collection crosses Rs 1.1 lakh cr in Jan
KERALA NEWS
Surendran new Kerala BJP President
 Thiruvananthapuram: Young firebrand leader K Surendran has been named as the President of BJP Kerala  
Student who tested Positive for coronavirus discharged
CM Assembly Election : Kerala CM congrats Arvind Kejriwal for AAP''s victory
Coronavirus: 15 Kerala students stranded in China's Hubei reach Kochi
INTERNATIONAL NEWS
China says significant drop in coronavirus cases; death toll climbs to 1,665
 Beijing: China on Sunday announced a “significant drop” in coronavirus cases, as the WHO team scramb
Two more Indians test positive for coronavirus on cruise ship off Japan
France confirms first coronavirus death outside Asia
Making efforts to disembark Indians from cruise ship after quarantine period ends: Indian Embassy
NATIONAL NEWS
Kejriwal calls ministers-designate for dinner ahead of swearing-in, discusses development roadmap
 New Delhi: On the eve of his swearing-in as chief minister of Delhi, AAP national convener Arvind Ke
Shaheen Bagh protesters say ready to meet Shah, but onus on govt to call them for talks
SC allows Karti Chidambaram to travel to UK, France
Trump visit: Cong says AMC building wall to mask slum area
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