Construction sector Current Affairs - 2020

Kamath Panel constituted by RBI to restructure loans

The Reserve Bank of India has constituted a panel under former ICICI bank CEO K V Kamath. The panel will make recommendations on financial parameters that are to be considered to structure loans that are impacted by COVID-19. About the committee The Committee will recommend financial parameters that are required to be factored in the Read More…

Home Ministry issues SOPs for movement of stranded migrant labourers

On April 19, 2020, the Ministry of Home Affairs issued Standard of Operating Procedure for movement of stranded migrant labourers. Highlights The workers employed in construction, agriculture, industries and other sectors have been moved from their work places and have been housed in shelter camps and relief shelters. These centres are being run by the Read More…

Unemployment Rate in India has increased to 23% due to Lock Down

The Centre for Monitoring Indian Economy (CMIE) recently released a survey on the current unemployment situation in India. According to the survey, more than 20% of Indian Economy has lost their jobs since the lock down. Highlights The report said that the unemployment rate for the month of March is expected to be 8.7% as Read More…

Labour Ministry transfers Cess Funds for the Construction Workers to fight against COVID-19

On March 24, 2020, the Ministry of Labour and Employment transferred funds to the account of construction workers in the backdrop of outbreak of COVID-19. Highlights The Labour Ministry has directed the state governments and Union Territories to transfer Rs 52,000 crores to the accounts of construction workers. Around 3.5 crore workers who were registered Read More…

Andhra Pradesh Government plans to deliver sand at door steps

The Andhra Pradesh Government announced that it will deliver sand at customers’ door steps. As a pilot project, the government is to begin the initiative on experimental basis. Highlights Under the new initiative, the government will collect transportation charges from the customers and deliver sand at door steps. In order to make the initiative successful, Read More…