Govt bats for pvt investments in UT power DISCOMs, social infrastructure projects

Union Finance Minister Nirmala Sitharaman.

New Delhi: Power distribution companies (DISCOMS)in Union Territories will be privatised in line with the new tariff polices,  Finance Minister Nirmala Sitharaman said on Saturday.

There has been sub-optimal performance of power, distribution and supply. "However, the new initiatives will lead to better service to consumers with DISCOMs ensuring adequate power. This will enable to strengthen indstries and bring in efficiency adequate power. This will enable to strenghten industries and bring in efficiency in the entire power sector," she said.

The inefficiencies of DISCOMS will not burden consumers. The will be a standard of service and penalties for DISCOMs. This will also enable stability in the power sector, said Sitharaman, while addressing a press conference here along with Minister of State for Finance Anurag Thakur.

The Finance Minister also called for boosting private sector investment in social insfrastructure through a revambed Viability Gap Funding Scheme of Rs8,100 crore. "The government will enhance the quantum of viability gap funding up to 30 percent each of total project coast as VGF by the Centre and state or statutory bodies," she said, adding the projects will be proposed by the Central ministries and state governments.
By: ANI.

Rahul Gandhi expresses grief over death of migrant labourers in UP accident

Congress Leader Rahul Gandhi.

New Delhi: Congress leader Rahul Gandhi Saturday expressed grief over the deqath of 24 migrant labourers who were killed in a road accident in Uttar Pradesh's Auraiya district.

He said that he prays the deceased rest in peace and those who were injured recover soon.

"Pained by the news of the death of 24 labourers and injuries to many people in the accident in Uttar pradesh"s Auraiya. I express my deepest condolences to the families of the deceased and wish sppedy recovery for those injured," Gandhi tweeted.

In yet another mishap involving migrants, 24 labourers were killed after the truck they were traveling in, collided with another truck in Uttar Pradesh's Auraiya district.
By: ANI.

Vice Media Group to lay off over 150 employees from US, international units

(Photo: ANI)

Washington DC (ANI): Vice Media Group is laying off more than 150 employees from its US and international units, the company said on Friday amid an industrywide slowdown in digitl advertising as the world battles the coronavirus pandemic.

The Wall Street Journal reported that in a note to eployees on Friday (local time), Vice Chief Executive Nancy Dubuc said the cuts would focus primarily on Vice's digital-media business, which she said represents an outsize portion of its spending relative to its revenue.

The digital organization accounts for about 50 percent of the company's head-count costs but only generates about 21 percent of the company's revenue, wrote Dubuc. "Looking at our business holistically, this imbalance needed to be addressed for the long-term health of our company," she wrote, reported WSJ.

Dubuc wrote that about 55 employees will be cut from Vice's U.S. division, and 100 from international operations. A Vice spokeswoman didn't respond to a request for comment, the WSJ said in its report.

The Coronavirus pandemic has taken a toll on World Economy with countries placing several restrictions on movements.

American private-sector has shed around 20.2 million jobs in April, the worst month on record, as per a report of Automatic Data Processing (ADP) National Employment earlier this month.

Last month, the international Monetary Fund (IMF) projected that the world economy is likely to cntract sharply by "minus three percent" due coronavirus pandemic.

According to the latest data from John Hopkins Unversity, the number of coronavirus cases in US 1,443,188 while the death toll has resen to 87559.
By: ANI.

Pm Modi condoles death of 24 migrants in UP road accident

Prime Minister Narendra Modi

New Delhi: Prime Minister Narendra Modi Saturday expressed grief over the death of 24 migrant labourers who were killed earlier today in an accident in Uttar Pradesh's Auraiya district.

"The road accident in Auraiya of Uttar Pradesh is extremely tragic. The government acted propmtly and is involved in relief work. I express my condolences to the families of those killed in this accident, as well as wish the injured my condolenes to the families of those killed in this accident, as well as wish the injured speedy recovery," Prime Minister tweeted.

Earlier in the day, 24 labourers were killed and several injured after the truck they were traveling in, collided with another trck in Uttar Pradesh's Auraiya district.
By: ANI.