Chander removed to bring in younger generation: Parrikar

Hyderabad, Apr 12: Indicating that prolonged lockdown to contain coronavirus spread may lead to job cuts in the Indian IT industry, NASSCOM former president R Chandrashekhar has said that the work-from-home culture may become a positive development in the long run as it opens up newer avenues and save investments by IT firms.

The former bureaucrat also said startups which are surviving on funds infused by venture capitalists may face tougher situations if the present scenario deteriorates.

"The larger companies may not be actually cutting jobs for two reasons. One is that they do not want to lose their employees and they have money to pay. Many of them ( big companies), even if they do shed some jobs it might be at the most people who are on temporary or intern type and all. But they would not want regular and permanent employees to go. So as long as they have sufficient flexibility in their books, they would continue," said NASSCOM former president.

"But beyond a point that it goes on, for let us say, two months or three months, then even for them, they will feel the pressure. They may not just keep on providing subsidies to the employees. So the key question will be how long that goes on," Chandrasekhar said.

He also said the work-from-home systems being adopted by several firms across the globe, including India, may have a negative impact on the industry in the short-term, but in the long run it would change the work culture which hitherto was not experienced by many of the IT firms in India.

 On impact of the prolonged lockdown on startups, he said it would be a big challenge for the budding enterprises as the investments they get are based on their ideas and future revenues and the present situation under which peoples movement is curbed may shackle their progress.

 "Where will they (startups) get money to pay salaries to their employees. Venture capital investors would not pay the money or invest their money to pay salaries because they are not in the charity business."

If the employees are not paid and if they leave and it is difficult for the startup againto come up. So the whole investment plan goes for a toss, he said.

Former chairman of NASSCOM, B V R Mohan Reddy said a clear picture as to what is going to happen has not yet emerged as the situation with all respects is still evolving. Reddy said there will be a demand shrinkage for the IT industry as the entire world is under stress. "There is no economy in this world that is going to do well in this situation.

So, therefore, there will be a demand shrinkage, he said, indicating tougher times of the industry ahead.

New Delhi, Mar 24: Nearly 500 coronavirus cases have been reported in India so far, according to Health Ministry data on Tuesday.

According to the data updated Tuesday morning, the total number of COVID-19 cases rose to 492, including 446 active cases.

The figure includes 41 foreign nationals and the nine deaths reported so far, the Health Ministry said.

West Bengal and Himachal Pradesh reported a casualty each on Monday while seven deaths were earlier reported from Maharashtra (two), Bihar, Karnataka, Delhi, Gujarat and Punjab.

Thirty-seven people have been cured/discharged/migrated, it added.

The number of active cases at 446 saw an increase of 22 from last night's figure.

As cases of the viral infection surged, authorities have put almost the entire country under lockdown, banning gathering of people and suspending road, rail and air traffic till March 31.

Kerala has reported the highest number of COVID-19 cases so far at 95, including eight foreign nationals, followed by Maharashtra which recorded 87, including three foreigners, according to the ministry data.

Karnataka has reported 37 cases of coronavirus patients, while cases in Rajasthan increased to 33, including two foreigners.

Uttar Pradesh has 33 positive cases, including a foreign national.

Telangana has so far reported 32 cases, including 10 foreigners.

Cases in Delhi rose to 31, including one foreigner, while Gujarat has reported 29 cases.

In Haryana, there are 26 cases, including 14 foreigners, while Punjab has reported 21 cases.

Ladakh has 13 cases, while Tamil Nadu has reported 12 cases, including two foreigners.

West Bengal, Madhya Pradesh and Andhra Pradesh have reported seven cases each so far.

Chandigarh has six cases, while Jammu and Kashmir has four cases.

Uttarakhand and Himachal Pradesh have reported three cases each, while there are two cases each in Bihar and Odisha.

Puducherry and Chhattisgarh have reported a case each.

May 28: Congress President Sonia Gandhi on Thursday asked the central government to unlock its coffers and help the needy affected by the coronavirus-induced lockdown.

In a video message posted as part of the Congress' 'Speak Up India' campaign, she lamented that even though the country is passing through a serious economic crisis with loss of livelihood due to the pandemic and the lockdown, the central government has not heard the cries of pain and trauma of people.

"We again urge the Centre to unlock its coffers and help the needy. Put direct cash of Rs 7,500 per month in the account of every family for the next six months and provide Rs 10,000 immediately; ensure safe and free travel of labourers back home, employment opportunity and rations; and also increase the number of work days under MNREGA to 200 days to facilitate jobs in villages," Gandhi said.

LIVE: Congress President Smt. Sonia Gandhi's message to the people & the BJP govt. #SpeakUpIndia https://t.co/OqpYFaU6AD

— Congress (@INCIndia) May 28, 2020

"Instead of loans, provide financial relief to small and medium industry so that crores of jobs are saved and the country progresses," she said in her video message on the party's social media handles.