CII urges ₹3-lakh crore stimulus
The Hindu
Industry group pushes for cash transfers, fuel tax cut to help revive demand
Mooting ‘urgent’ fiscal support to shore up the economy, industry body CII on Thursday said the government has room to provide a ₹3-lakh crore stimulus and advocated a reduction in fuel taxes and enhancement in cash transfers to households to revive demand. Stressing that livelihoods had taken a severe hit due to the COVID-19 pandemic, Confederation of Indian Industry (CII) president T.V. Narendran called for employment generation to be the central focus of policy measures and an expansion of the central bank’s balance sheet to accommodate a fiscal push of 1.3% of GDP. “The ongoing second wave has had a significant impact on economic activity in this quarter and a large part of the labour force faced health issues, either themselves or in their families,” Mr. Narendran said, stressing that health exigencies and job losses had squeezed spending ability.The election authorities are gearing up for the counting of votes cast in the simultaneous elections to Lok Sabha and Assembly seats in Andhra Pradesh, scheduled to be held on June 4. The Collectors and Election Officers of Visakhapatnam, Anakapalli and Alluri Sitharama Raju (ASR) districts said on May 23 (Thursday) that their teams were ready for the counting of votes.
Responding to the prolonged water scarcity, the residents of the area took to the streets in protest on Wednesday. The protest, which drew attention to their plight, stopped only after the intervention of the police. It was not until 1.30 p.m. that a 4000-litre tanker was finally delivered by BWSSB, providing relief to the water-starved residents.