Congress an equal partner in GST decision, says PM Modi

Bhopal, Mar 12: The Madhya Pradesh Congress on Thursday took a dig at Jyotiraditya Scindia, who broke ranks with the party and joined BJP on Wednesday, by pointing out that neither Prime Minister Narendra Modi nor Amit Shah had not even put out as much a tweet to welcome him in the party, and construed it as "humiliation" for the "maharaja".

"Not even a tweet by Narendra Modi-ji or Amit Shah-ji to welcome Scindia-ji! Modi-ji, Shah-ji, at least do not do it so soon. It has not even been 24 hours yet and you guys have already started humiliating him...!" Madya Pradesh Congress tweeted in Hindi.

Taking a jibe at Mr Scindia, a member of the erstwhile royal family of Gwalior who ended his 18-year-long association with the Congress party on a bitter note, the state Congress said: "He is a maharaja, the one whose history is often mentioned by Shivraj-ji (former Madhya Pradesh Chief Minister Shivraj Singh Chouhan)."

On Wednesday, Jyotiraditya  Scindia joined BJP in New Delhi in the presence of party president JP Nadda. He had resigned from Congress a day earlier after meeting Amit Shah and Prime Minister Narendra Modi.

Mr Scindia will file his nomination for the Rajya Sabha elections on March 13. He is expected to go to Bhopal today.

Feb 19: Pay increases across India’s organized sector will probably grow at the slowest pace since 2009 this year, according to a survey from Aon Plc.

Companies will increase average pay by 9.1% in 2020, down from 9.3% in 2019 and 9.5% the previous year, Aon said in a report published Tuesday. The small increase reflects a deep slowdown in Asia’s third-largest economy, where growing pessimism about job prospects have led many to cut down on consumption -- the main driver to growth.

India still leads the Asia-Pacific region in pay rises, but that is mainly due to higher inflation and a “war for key talent and niche skills,” Aon said.

“There is a general air of caution about the economy as we enter into 2020,” Tzeitel Fernandes, partner for rewards solutions at Aon, told reporters in New Delhi. “Low GDP projection and weak consumer sentiment are the reasons behind our lowest ever prediction.”

E-commerce companies and start-ups will probably get the biggest salary increases, projected at an above-average 10%, while financial institutions will hand out 8.5%. Unsurprisingly, the auto sector witnessed the biggest drop in growth -- down to 8.3% from 10.1% in 2018, according to Aon. The survey covered more than 1,000 companies across over 20 industries.

Mumbai, May 22: The Reserve Bank of India (RBI) on Friday reduced repo rate by 40 basis points to 4 per cent in an effort to further boost liquidity in the economy which has been reeling under the impact of COVID-19 induced countrywide lockdown.

As a result, the reverse repo rate stands at 3.35 per cent, said RBI Governor Shaktikanta Das. The six-member monetary policy committee (MPC) voted 5:1 in favour of the decision.

Repo rate is the rate at which a country's central bank lends money to commercial banks, and the reverse repo rate is the rate at which it borrows from them.