Monthly Archives: July 2016

Rs. 7 lakh crore bad loan by 10 Corporates

08 Friday Jul 2016

Posted by in General, PSU

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Com. Sitaram Yechury, General Secretary, CPI(M) has written to the Prime Minister Shri Narendra Modi that why action is not being taken against the big corporates and borrowers, who have taken large amount of loans from banks and not returned them resulting in NPA of lakhs of crores of rupees. He mentioned 10 big corporates, together who are to repay more than Rs. 7 lakh crore. They are Adani Group (Rs. 96,031 crore), Essar Group (rs. one lakh crore), GMR Group (Rs. 47,976 Crore), GVK Group (Rs. 33,933 crore), Jaypee Group(Rs. 75,163 crore), JSW Group(Rs. 58,171 crore), Lanco Group(Rs. 47,102 crore), Reliance Group(Rs. 1.25 lakh crore), Vedanta Group (Rs. 1.03 lakh crore) and Videocon Group (Rs. 45,405 Crore).

Com.Sitaram Yechury also questioned why the SBI is recapitalising the Public Sector Banks with 2-4 lakhs crores of rupees, instead of recovering the loans by the banks from these defaulters?

From the available indications, it may be some Rs. 30 to 40 lakhs of crore which the corporates must have benefited by not returning the loans from the PSU Banks. And the Central Government, whether UPA or NDA, sit tight without taking any action. Is this not crony capitalism?

Rs. 45,000 crore telecom scam – spat between Congress and BJP

08 Friday Jul 2016

Posted by in BSNL, Telecom

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Instead of recovering the Rs. 15,000 crore (exactly Rs. 12,488.93) from the private telecom firms which the CAG has found out as the amount of tax due from them for the fraud committed by showing under-valued revenue, the Congress and the BJP are shouting at each other accusing the other for the fraud.

By under valuing the revenues, the six telecom private companies viz. Bharti Airtel, Vodafone, Reliance Communications, Idea Cellular Tata Teleservices and Aircel India had cheated the government of its taxes, as part of the revenue sharing. The CAG had submitted its report to the government that theses companies had shown their revenue less by about Rs. 45,000 crores, resulting in a loss of Rs. 15,000 crore to the government.

The fraud has taken place during the period of Congress, but even after coming in to power, the BJP has not taken any action.

In the meantime, the DOT has stated that the process for the recovery is being initiated.

Whether UPA or NDA, both take a soft stand when it comes to the corporate, MNCs  and big business. Of course, they are the governments of the corporates!

Minimum wage – Delay is Denial

07 Thursday Jul 2016

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The procrastination by the  Labour ministry in revising the minimum wage as promised by the government, is nothing short of betrayal of trust.

It is reported in today’s Economic Times that the Labour Ministry may put the raising of minimum wage in back burner, due to the opposition of the industry.

It seems that the govt is only interested in the industrialists and big business and not on the plight of workers.

Organise the 2 September Strike with massive participation to give a fitting reply to anti-worker govt. 

Start Wage Negotiations in BSNL

07 Thursday Jul 2016

Posted by in BSNL, BSNLEU, CG Employees

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The government is in the final stage of finalising decisions on the recommendations of the VII CPC for the CG employees after the latter has decided for a strike, which has been deferred for the present after certain assurances from the Finance and Home Minister.

The III Pay Revision Committee has been formed for the pay revision of executives in all PSUs, including BSNL, with effect from 01-01-2017 and it has started functioning.

What about the non-executives in BSNL? Their wage revision from 2017 is to be done through wage negotiation between the management and the recognised unions. Last time, it took about three years, hard bargaining, two strikes and many struggles to achieve a very good agreement, which largely benefit-ted the workers.

It is high time that the management starts the negotiations with out delay. The recognised unions should take the initiative.

Change of Designations in BSNL ; Start the second phase

07 Thursday Jul 2016

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A good agreement has been reached and implemented in BSNL with regard to the designation of the four major cadres, although it took about 10 years for the management to accept the reasonable proposals of the Staff Side. The same was initiated by BSNLEU, when it got recognition for the first time in 2004.

The demand raised was for the change of all designations of the non-executives which were obsolete, unattractive and time-lapsed. There were about 70 designations with some of them duplicate, some having no incumbent etc. It was decided to take the designations of the four majority cadres immediately and the others later.

Now that the issues of 4 cadres are settled, it is time to look in to the case of other cadres. Already it is delayed. Immediate action should be taken in the matter.

Committee to recommend ‘New Financial Year’.

07 Thursday Jul 2016

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The Central Government has appointed a committee with Former CEA Shankaracharya as Chairman to look in to changing the financial year from April to March and submit recommendations. The financial year for countries are different, some starting with January, some April, Some July and some October. India follows the British system of starting from April and the US financial year starts from October.

Is the proposal to change the financial year, a political one? Is it intended to change from April to October in order have more compatibility with US with whom India is  strategically coming closer and closer?

Central Govt. Employees Strike Deferred

07 Thursday Jul 2016

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The National Joint Council of Action of the CG Employees has deferred the Indefinite Strike from 11th July. The statement issued by NJCA is given below: Congratulations to the NJCA for the great achievement!

“WEDNESDAY, JULY 6, 2016

NJCA Defers Strike on the face of Government Assuring Consideration of Staff Side Views
NJCA UNANIMOUSLY RESOLVES TO DEFER THE INDEFINITE STRIKE

After the meeting with the Home Minister today by the NJCA and further developments leading to issue of a Press Release by the Government of India assuring consideration of the issues raised by the Staff Side relating to the pay scales and other recommendations of the Pay Commission by a High Level Committee, the NJCA has decided to defer the Indefinite Strike in the background of meetings with the Ministers and the assurance by the Government of India.

The Press Release by the Government today is reproduced below:

Press Information Bureau
Government of India
Ministry of Finance

06-July-2016 20:50 IST

Government assures Representatives of Unions representing employees of the Central Government that the issues raised by them relating to the pay scales and other recommendations of the 7th Pay Commission would be considered by a High Level Committee.

Representatives of Unions representing employees of the Central Government had met the Home Minister Shri Rajnath Singh, the Finance Minister Shri Arun Jaitley and the Minister for Railways Sh. Suresh Prabhu in the evening of 30th June, 2016.

They had requested that certain issues raised by them in relation to the pay scales and other recommendations of the Pay Commission be allowed to be raised before a Committee of Secretaries looking into different aspects of grievances of employees in relation to the Pay Commission recommendations.

The Ministers assured the Union leaders that the issues raised by them would be considered by a High Level Committee.”

CONFEDERATION CIRCULAR DATED 06-07-2016

06 Wednesday Jul 2016

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CONFEDERATION CIRCULAR DATED 06-07-2016

The National Joint Council of Action (NJCA) met at the Staff Side office, JCM, New Delhi today at 11:30 AM as scheduled. During the discussions, the Convener received an invitation from the Honourable Home Minister, Shri Rajnath Singh. The following members of the NJCA met the Home Minister in a delegation.

1. Dr. M. Raghavaiah (NFIR), 2. Shiv Gopal Misra (AIRF), 3. Rakhal Dasgupta (AIRF), 4. Guman Singh (NFIR), 5. K. K. N. Kutty (Confederation), 6. C. Srikumar (AIDEF), 7. M. Krishnan (Confederation), 8. Ashok Singh (INDWF), 9. R. Srinivasan (INDWF), 10. M. S. Raja (Confederation), 11. J. R. Bhosale (AIRF), 12. Bhatnagar (NFIR), 13. R. N. Parashar (NFPE), 14. Giriraj Singh (NFPE), 15. Satish Chander (FNPO), 16. Shiv Kumar (FNPO), 17. N. Kannaiah (AIRF).

The issues in the Charter of demands were discussed with special reference to the 7th CPC related demands. The delegation brought to the notice of the Honourable Home Minister that the NJCA has not received a communication from the Government over the assurances held out on 30th June, 2016, when the NJCA delegation met the Honourable Home Minister, Finance Minister and the Railway Ministers. On 30th June 2016, the Government had assured to refer the revision of Minimum wage and fitment formula to a Committee. The Finance Minister has also clarified that the Government has taken the decision to implement the recommendation of the 7th CPC to bring about parity between the past and present pensioners. They added that such a communication in confirmation of the assurances will enable them to take a decision over the strike action which is to commence from 11th July, 2016.

The Honourable Home Minister assured the delegation that the Government will honour the assurances held out to the NJCA leaders on 30th June, 2016 and accordingly the Honourable Finance Minister, Shri Arun Jaitly will issue a Press Statement today, with copy to NJCA.

After receipt of the copy of the Press Communique issued by the Honourable Finance Minister, the NJCA will take a final decision.

M. KRISHNAN

Secretary General

Confederation

(Courtesy: Confederation)