-PTI/ The Hindu Business Line Union Minister Nitin Gadkari on Thursday said that micro, small and medium enterprises (MSME) sector is on the verge of collapse, and urged major industries to release the outstanding dues to such companies within a month. He said that the position of MSMEs was the “worst” as they were now engaged in a “battle for their survival”. The Minister also noted that the pendency of dues owed...
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Gurugram workers allege they were turned away on religious grounds -Ashok Kumar
-The Hindu Garments unit’s management denies charges as baseless, cites non-discriminatory hiring policy Gurugram: Several Muslim workers at Richa & Co., a garments unit based in the Udyog Vihar Phase-III area of Gurugram, have alleged that they were turned away from the company’s gate on Thursday citing their religion and told to wait till “there were orders from the higher-ups”. The company, however, denied the allegations made by the workers, saying it...
More »How Covid has flattened prices, shifted demand curve for agri-commodities -Harish Damodaran
-The Indian Express Lockdown has led to demand destruction similar to demonetisation even for commodities such as potato and milk that were till recently in short supply While there is debate on how much the lockdown has helped in “flattening the Covid-19 curve”, one thing is clear: It has led to a flattening of prices through a “leftward shift in the demand curve”. The best way to illustrate this is through two agricultural...
More »Boost wages to stimulate India’s growth -Jayan Jose Thomas
-The Hindu The economic crisis can be overcome only by raising the consumption of and investment for the poor Impoverishment among English workers during the early years of the Industrial Revolution had prompted Leicester framework knitters to frame this resolution in 1817: “… if liberal Wages were given to the Mechanics in general throughout the Country, the Home Consumption of our Manufactures would be immediately more than doubled, and consequently every hand...
More »Not at the cost of food security -Siraj Hussain & Ajit Ranade
-The Indian Express Diverting rice to produce ethanol during the pandemic is unethical. Surplus grains should be used to feed those in distress. In the middle of the COVID-19 pandemic and a country-wide lockdown came an announcement that was difficult to believe. The press release said the National Biofuel Coordination Committee (NBCC) chaired by the Union Minister of Petroleum and Natural Gas has decided to use “surplus” rice available with the Food...
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