Surya Sarathi Ray

Articles By Surya Sarathi Ray

746 Articles

‘NHAI capable of raising requisite funds from market’

For the current fiscal, the National Highway Authority of India (NHAI) has set a target to build 4,500-km national highways.

The total debt of the National Highways Authority of India (NHAI) went up by nearly 9.5 times to Rs 2,28,252 crore in February this year, from Rs 24,188 crore as on March 31, 2015. News

Covid effect: MSME definition to be widened further, here’s what Centre planning

Days after announcing a new set of criteria to define micro, small and medium enterprises (MSMEs) on which various official benefits will be extended, the government is considering a proposal to widen the definition again —

MSME and transport minister Nitin Gadkari told FE his ministry is floating a proposal to raise the annual turnover limit for a medium enterprise to Rs 250 crore from Rs 100 crore. News

States’ labour reform moves hit hurdle; Centre may say ‘no’ to key changes

A senior functionary with the Union labour ministry told FE that suspension of labour laws by the states under the Factories Act can’t last for more than three months at a time.

Economy News

How delayed mining approvals dampening investor spirit

Sitharaman last week announced a plan to auction off as many as 500 mineral blocks over an unspecified period, but given the pace at which even the auctioned blocks turn operational, the investment landscape in the sector doe

Apart from the sticky regulatory issues and the tedious delays associated with grant of environmental and forest clearances, the enormity of taxes and levies also continue to be an irritant News

Outlay for rural jobs scheme raised 65% to Rs 1,01,500 crore

The finance minister said with the infusion, nearly 300 crore person days of jobs can be generated under the scheme and a larger number of durable and livelihood assets can be created.

rural jobs scheme, migrnat labourers, MGNREGS, PMGKY, finance minister, livelihood assets, Budget for 2020-21, latest news on rural jobs scheme News

FM Nirmala Sitharaman’s big reforms push in mining, but no action on high levies

With 500 mining blocks to be auctioned – no timeline has been given, though – along with a Rs 50,000 crore investment to ramp up critical infrastructure, and significant improvement in the process of getting mining licens

Apart from the sticky regulatory issues and the tedious delays associated with grant of environmental and forest clearances, the enormity of taxes and levies also continue to be an irritant News

Delayed EPFO payment not to attract penalty

Depending on the duration, delayed payment now attracts penalty of between 5% and 25% on the shortfall of payment of dues.

EPFO payment, delayed EPFO payment,EPFO money, Employees Provident Fund, EPFO penalty,EPFO news, latest news on EPFO  News

Jaypee Infra resolution: Jaiprakash Associates moves NCLAT against NCLT order

Jaiprakash Associates (JAL), the parent firm of Jaypee Infratech (JIL), has moved the National Company Law Appellate Tribunal (NCLAT) challenging the March 3 order of the National Company Law Tribunal (NCLT).

The NCLT approved state-run NBCC’s resolution plan for JIL on March 3, 2020. News

PM pension schemes for very poor, small traders get off to a slow start

The two old-age pension schemes launched last year – one for the poorest of the poor namely street vendors, rickshaw pullers and rag pickers and the other for self-employed and small traders – have had only modest starts.

The scheme was launched in February last year with a target to cover 10 crore people in five years. News

Govt footing EPF bills of some firms for short period welcome, but it has been big defaulter: Ex-central provident fund commissioner KK Jalan

This facility provides liquidity support to employers, but is of no benefit to employees. Rather, employees will lose due to the delayed deployment of their funds by EPFO and resultant loss of interest income.

The government has recently relaxed the norms for Employees' Provident Fund (EPF) to provide liquidity support to both employers and employees. News

Covid-19 crisis: Labour productivity goes hand in hand with workers’ interests, says BJD MP

The changes have happened not only in some BJP-ruled states, but also in Congress-ruled states like Rajasthan and Punjab where working hours have been extended by four hours, but that four hours will be treated as overtime.

Economy News

MGNREGS: Govt spends 35% of FY21 budget in 40 days

The Centre has released Rs 21,753 crore or 35% of the annual budget outlay under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MG-NREGS) in the first 40 days of the current financial year, as it sought to use

Economy News

States suspend/relax labour laws to help industry emerge from crisis

The laws that will remain in force in UP during the three year period include those which provide basic facilities and security to the labourers.

ILO’s response came after 10 central trade unions (CTUs), barring RSS-affiliated Bharatiya Mazdoor Sangh, requested the ILO to engage with the Indian authorities and urge them to take necessary action for protection of workers’ rights News

NHAI defers plan to generate funds by leasing off its assets

The National Highways Authority of India (NHAI) has put its plan to monetise operational publicly-funded highway projects on hold for two months, given that investors might not commit long-term investments at this juncture, d

The total debt of the National Highways Authority of India (NHAI) went up by nearly 9.5 times to Rs 2,28,252 crore in February this year, from Rs 24,188 crore as on March 31, 2015. News

Trade unions want timeline for employers on delayed contributions to EPFO

Trade unions are of the view that the retirement fund body should set a definite timeline for employers to deposit the money already deducted from employee’s monthly salary.

The EPFO earlier extended to May 15 the due date for depositing contributions for the wage month of March which was due to be paid by April 15. News

Highway projects: Infrastructure panel wants HAM curtailed, favours BOT model; here’s why

The Hybrid Annuity Model (HAM) for highway projects that insulates private developers from virtually any commercial risks, is putting stress on the highly-leveraged balance sheet of the National Highways Authority of India (N

The sustainability of the model has been questioned by lenders which have become increasingly averse to funding HAM projects. News

Migrant workers: House panel opposes move to cap minimum wages

The Centre’s bid to arrogate to itself the power to fix the wage floor for inter-state migrant workers in the name of uniformity across the country has hit a hurdle.

labour law, UP relaxes labour law, migrant workers, foreign companies in India News

Fixed-term employment: House panel for defining job tenures, adding safeguards

FTE workers/employees are entitled for all the benefits (except retrenchment compensation as termination of service as a result of completion of the tenure of FTE would not be considered as retrenchment) which are available t

It is not clear at this stage whether the panel’s views would impel the government to make the necessary changes in the Code and address its concerns. (Representative image) News

NBCC moves NCLAT challenging NCLT order on Jaypee Infra resolution plan

The NCLT also allowed JIL’s fixed deposit holders, who have not filed their claims within the statutory timelines, to continue their claims even after approval of the resolution plan.

Industry News

COVID-19 relief measure: Firms may get EPF relief for April too

The due date for depositing statutory contributions, aggregating one-fourth of one employee’s monthly wages, towards provident fund, to be deposited by an employer, falls within the first 15 days of the next month.

Money News

COVID-19 crisis: Hit by liquidity crunch, SAIL looks to conserve cash, push recoveries

Employees have been directed to reach out to customers and maintain continuous offtake of finished steel from the plants so that cash flows are maintained and consequences of a liquidity crunch are avoided.

The steelmaker has seen piling-up of inventories and cash flows drying because of the lockdown. News

Livelihood support: ESIC reserves to help low-income workers

The government, experts point out, is charging excess amount to the employers and building surpluses under various schemes including EPF and ESIC.

The ESIC reserves are mostly invested in fixed-income instruments like fixed deposits with public sector banks (PSBs). News

Fighting Rural Distress: Modi govt speeds up release of funds under MGNREGA

“Given the nature of the crisis, that (RE) is when the government will take a call. We don’t apprehend a problem," said the official.

In the Budget for 2020-21, a total of Rs 61,500 crore has been earmarked under MGNREGA, down from a revised outlay of Rs 71,002 crore in 2019-20 and Rs 61,815 crore spent in 2018-19. News

Relief to construction workers: 18 states transfer Rs 1,000-5,000 each in 1.8 crore beneficiary A/Cs

As on September 30, 2018, India had around 3.2 crore registered construction workers of which the highest were in Uttar Pradesh at 42 lakh followed by 31 lakh in West Bengal, 30 lakh in Madhya Pradesh, 29 lakh in Tamil Nadu a

Economy News

COVID-19 lockdown: How national highways construction will take a hit

After a fiscal that saw the pace of work slowing down, a first for the NDA govt, FY21 is likely to be impacted by Covid-19 and its aftermath.

Infrastructure News

Centre non-committal on extra aid to pension schemes during Covid-19 period

Under both the schemes, a monthly pension of Rs 3,000 is guaranteed to the beneficiaries after attaining the retirement age.

Those belonging to the entry age group of 18-40 years are eligible for the two schemes. News

Lockdown impact: March toll collections down a third, April may draw a blank

To slow the spread of the deadly coronavirus, the Prime Minister announced a 21-day lockdown of the nation with effect from March 24 midnight.

The total debt of the National Highways Authority of India (NHAI) went up by nearly 9.5 times to Rs 2,28,252 crore in February this year, from Rs 24,188 crore as on March 31, 2015. News
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