Jignesh Mevani's rally cancelled, triggers massive protests in Delhi

Washington, Feb 12: US President Donald Trump said on Tuesday he would sign a trade deal with Prime Minister Narendra Modi if 'it was the right one'.

The two countries have been trying to reach a limited trade pact with lower tariffs, but talks have run into problems over issues with data privacy and e-commerce controls.

Trump further said that he is looking forward to his visit to India later this month where millions of people would welcome him. "He (Modi) is a great gentleman and I look forward to going to India. So, we'll be going at the end of the month," Trump told reporters in his Oval Office, a day after the White House announced dates of his anticipated India trip.

Responding to a question, the president indicated that he is willing to sign a trade deal with India if it is the right one. "They (Indians) want to do something and we'll see... if we can make the right deal, (we) will do it," said Trump, a fortnight ahead of his visit to the country as the 45th US president.

India's new Ambassador to the US, Taranjit Singh Sandhu told PTI that Trump's forthcoming visit is a "reflection of the strong personal rapport" between Trump and Modi. "It also demonstrates their strong desire to take the relationship to new heights," said Sandhu, who had presented his credentials to Trump in Oval Office last week.

Over the last three years, Trump and Modi have developed a personal friendship and in 2019, the duo met four times including their joint address before a strong 50,000 crowd of Indian Americans in Houston.

This year, they have spoken over the phone on two occasions, including the one over the weekend. "Just spoke with Prime Minister Modi," Trump told reporters on Tuesday in response to a question on his India visit.

Excited to travel to India later this month, said Trump referring to his conversation with Modi during which the prime minister apparently told him about the hundreds and thousands of Indians who would be there to welcome him in Ahmedabad.

Trump jokingly told reporters that now he will "not feel good" about the size of the crowd that he addresses in the US which is usually between 40,000 to 50,000. "He (Modi) said we will have millions and millions of people. My only problem is that last night we probably had 40 or 50,000 people... I'm not going to feel so good... There will be five to seven million people just from the airport to the new stadium (in Ahmedabad)," Trump said.

"And you know (it) is the largest stadium in the world. He's (Modi) building it now. It's almost complete and it's the largest in the world," Trump said. The two leaders are expected to joint address a massive public rally at the newly build Motera Stadium in Ahmedabad.

Being built at an estimated cost of USD 100 million, the Motera Stadium with a seating capacity of 100,000 spectators will be the world's largest cricket stadium overtaking the Melbourne Cricket Ground in Australia.

New Delhi, Mar 19: Hit hard by coronavirus, budget carrier IndiGo today announced that it will cut salaries of senior employees. IndiGo CEO Ronojoy Dutta, who will himself take a 25% cut in salary, said senior vice presidents and above are taking a 20% pay cut while vice presidents and cockpit crew are taking a 15% pay cut.

With precipitous drop in revenues, the very survival of airline industry is now at stake, Dutta said while announcing the pay cut. "We have to pay careful attention to our cash flow so that we do not run out of cash," Dutta said adding that he knew how hard it was for families to take a cut in "take-home pay".

"With a great deal of reluctance and a deep sense of regret, we are therefore instituting pay cuts for all employees, excluding Bands A and B, starting April 1, 2020," the chief executive officer said. Band A and B are the lowest brackets in salary class, where most of the employees are.

IndiGo's flight operations chief Ashim Mitra had written an email to pilots this morning saying that the economic environment has deteriorated significantly and no airline is insulated from this severe downturn.

"It has become a necessity to initiate some tough calls and we are working on a string of measures that will be shared and implemented over the next few days and weeks," Mitra said.

With countries sealing their borders partially or fully across the world due to the novel coronavirus pandemic, aviation sector has been hit extremely hard as most airlines globally have drastically curtailed their flight operations.

Another budget airline GoAir has already terminated contracts of expat pilots amid curtailed operations due to the coronavirus pandemic.

Citing "unprecedented" decline in air travel, the budget carrier announced it was suspending international operations and offering leave without pay programme to its staff on a rotational basis.

Government-owned Air India may also cut salary of employees by 5% amid its growing financial woes particularly in the wake of the coronavirus pandemic, which has nearly grounded its entire international operations. The reduction will be across the board, according to a PTI report.

The loss-making airline, which is in the process of a second attempt of privatization after failing to get a single buyer nearly two years ago, has already taken some steps such as reduced flying allowances to cabin crew besides withdrawing entertainment allowance to executive pilots, among others.

“Air India is considering a 5 per cent pay cut to its employees as it faces huge financial crisis due to the ongoing coronavirus outbreak, which has brought almost its entire international operations save the US, Canada and a few other markets, to the ground," a source told news agency.

New Delhi, Mar 26: The government on Thursday announced a Rs 1.7 lakh crore stimulus that included free foodgrain and cooking gas to poor for three months, and cash doles to women and poor senior citizens as it looked to ease the economic impact of the nationwide lockdown.

While over 80 crore poor ration card holders will each get 5 kg of wheat or rice and one kg of preferred pulses free of cost every month for the next three months, 20.4 crore women having Jan Dhan bank accounts would get one-time cash help of Rs 1,500 spread over three months.

Over 8.3 crore poor women, who were handed out free cooking gas connections since 2016, will get free LPG refills for the next three months, while poor senior citizens, widows and disabled will get an ex-gratia cash of Rs 1,000.

"Since the lockdown has been in force (since Wednesday) and therefore we have come out with a package which will immediately take care of the concerns and welfare of poor and suffering workers and those who need immediate help," Finance Minister Nirmala Sitharaman said at a news conference here.

The package, she said, is being announced within 36 hours of the 21-day nationwide lockdown announced by the Prime Minister to protect the nation's 130 crore people from the fast-spreading coronavirus. "We do not want anyone to remain hungry."

She hinted at more announcements if a need arises.

"So, today's measures are very clearly aimed at reaching out with food and money that they need to have it in their hands. We will obviously think about other things. I will gradually address if there is more to attend," she said.

The package included advancing the payment of one-third of the Rs 6,000 a year pre-2019 general election cash dole scheme for farmers, government contributions to retirement funds for the next three months of small companies with 90 per cent of staff earning less than Rs 15,000, and a Rs 50 lakh insurance cover to healthcare workers.

For rural workers, the daily wage under the MNREGA employment guarantee programme has been increased to Rs 202 from Rs 182, benefiting 5 crore workers of about Rs 2,000 in all.

India joins countries -- from the US to Singapore -- that have pledged spending to contain the economic fallout of the pandemic that has infected almost 5 lakh people globally and left over 21,000 dead.

The pandemic has infected 649 persons in India and has killed 13 so far.

While the free food grains and pulses would cost Rs 45,000 crore, Rs 2,000 payment to 8.7 crore farmers under Pradhan Mantri Garib Kalyan Yojana will cost Rs 16,000 crore.

The cash to women Jan Dhan account holders will cost Rs 31,000 crore and another Rs 13,000 crore is estimated to be the expenditure for providing free cooking gas.

Sitharaman, however, evaded a reply to questions on how the government will finance the package given that the impact of the closure of businesses across the country will be felt over the next few months and would have a direct bearing on already strained tax collections.

She also did not say if the government will relax budget deficit targets or resort to additional borrowings to fund the programme.

The revised fiscal deficit - the gap between revenue and expenditure - has been put at 3.8 per cent of the GDP in the current fiscal. For the fiscal starting April, the government is targeting a 3.5 per cent fiscal deficit.

"Today's measures are very clearly aimed at reaching out to the poor," she said. "At this stage, I am more concerned about reaching out to those who need help."

With businesses closed during the lockdown, the government will contribute employees as well as employer's contribution to the provident fund for the next three months of companies with up to 100 employees with 90 per cent earning not more than Rs 15,000. The contribution will be a total of 24 per cent of eligible wages.

Also, workers will be allowed to draw a non-refundable advance of 75 per cent from credit in provident fund account or three months salary, whichever is lower, she said.

Sitharaman said the limit of collateral-free loans to 63 lakh women self-help groups is being doubled to Rs 20 lakh, impacting 7 crore households.

The free foodgrain and pulses are over-and-above the existing entitlement through the public distribution system (PDS). The ration card holders can take the foodgrain and pulses from the PDS in two installments, she added.

The government had previously relaxed timelines for meeting tax and other statutory filing requirements as well as allowed companies to divert their philanthropy or CSR funds to support the fight against coronavirus.

These measures and the ones announced on Thursday will be topped up by the expected announcement of interest rate cuts by the Reserve Bank of India (RBI) at its bi-monthly monetary policy review meet slated next week.

Commenting on the package, Anil Talreja, Partner, Deloitte India said the announcements are is expected to give reprieve to the mass sections of the population. "This is a good way to ensure that the poor and needy get what they deserve. It has ensured that the farmers, poor senior citizens, widows and specified sections of the society as well as people who are attached to the healthcare sectors get rewarded for their hard work and sacrifices".