Comparing 5 years of Congress’ UPA-II regime and BJP’s first term, Finance Minister Nirmala Sitharaman said in Rajya Sabha inflation was lower & growth higher under Modi govt.
One of the key drivers of the global economy during the 2001 and 2008 crises, China is unlikely to feed a fiscal stimulus given its massive buildup of debt.
The world economy might be messy and there will be regional divergences aplenty, but it is not terrible as IMF data shows there are still some chances of growth.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
A common thread runs through the memories of soldiers of the 1965 war—ingenuity, courage and camaraderie that withstood an apparently technologically superior foe.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
Government should make it conditional for companies for getting soft loans from banks, or restructuring them, or getting interest payment holidays etc. – – that, they will not sack workers. They may cause some salary cuts, but not retrench them altogether.
I almost fell on the floor laughing when I read this gem, “Let employers and employees negotiate their relationship …..”. When one side has all the bargaining powers and the other, none, it is not hard to imagine the result of such, “negotiation”.
It depends on how a surplus-value is defined. If surplus-value is defined purely in the form of profits that already have been returned to shareholders through dividends or share buybacks or capital investments then I don’t see how companies can pay the employees in cash. Unless, employees are ready to take a part of surplus value in other non-cash forms like promissory notes, ESOPs, etc. The fight is about the cash and liquidity and not of the assets.
The incoming tide wets King Canute’s feet as well. No entrepreneur would be happy to let go of an employee he has recruited and then mentored with emotional investment. One speaks of a small firm, but the principle applies to the largest corporations as well. Pink slips are fluttering like confetti. Fifty million people losing their jobs in a fortnight is a rampaging herd of wild elephants no one can obstruct. The government itself cannot lay off or furlough permanent employees, but aren’t VRSes happening in PSUs. For that matter, how does one read the “ voluntary “ pay cuts government servants at all levels are accepting. We are in for a Greek style period of austerity, no doubt about that. What the government can and should be doing – something it has strangely not accorded meaningful priority to all these years – is to restore the economy to health and high growth. An ideological agenda does not put food on the tables of ordinary Indians. Hindus, any more than Muslims.
Sir, I did not understand you last sentence. “HIndus, any more than Muslims”.
Modi’s call to the companies not to sack the employees is an attempt to position himself and his government as compassionate, and position employers as ruthless. It is well and good if his government is going to foot a part of the pay bill of employers. As a person running a small office, I at a loss to understand how to pay salaries of my colleagues when I have earned no revenue since mid-March? Money doesn’t grow on trees.
Government should make it conditional for companies for getting soft loans from banks, or restructuring them, or getting interest payment holidays etc. – – that, they will not sack workers. They may cause some salary cuts, but not retrench them altogether.
I almost fell on the floor laughing when I read this gem, “Let employers and employees negotiate their relationship …..”. When one side has all the bargaining powers and the other, none, it is not hard to imagine the result of such, “negotiation”.
It depends on how a surplus-value is defined. If surplus-value is defined purely in the form of profits that already have been returned to shareholders through dividends or share buybacks or capital investments then I don’t see how companies can pay the employees in cash. Unless, employees are ready to take a part of surplus value in other non-cash forms like promissory notes, ESOPs, etc. The fight is about the cash and liquidity and not of the assets.
The incoming tide wets King Canute’s feet as well. No entrepreneur would be happy to let go of an employee he has recruited and then mentored with emotional investment. One speaks of a small firm, but the principle applies to the largest corporations as well. Pink slips are fluttering like confetti. Fifty million people losing their jobs in a fortnight is a rampaging herd of wild elephants no one can obstruct. The government itself cannot lay off or furlough permanent employees, but aren’t VRSes happening in PSUs. For that matter, how does one read the “ voluntary “ pay cuts government servants at all levels are accepting. We are in for a Greek style period of austerity, no doubt about that. What the government can and should be doing – something it has strangely not accorded meaningful priority to all these years – is to restore the economy to health and high growth. An ideological agenda does not put food on the tables of ordinary Indians. Hindus, any more than Muslims.
Sir, I did not understand you last sentence. “HIndus, any more than Muslims”.
Modi’s call to the companies not to sack the employees is an attempt to position himself and his government as compassionate, and position employers as ruthless. It is well and good if his government is going to foot a part of the pay bill of employers. As a person running a small office, I at a loss to understand how to pay salaries of my colleagues when I have earned no revenue since mid-March? Money doesn’t grow on trees.