JIO Modi JIO! After HAL, now BSNL fails to pay employees due to Modi’s crony capitalism

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Last week, Prime Minister Narendra Modi stressed that the ‘Development’ plank was high on the agenda of his government, as he launched a slew of projects across the country. However, this is what the report from five government institutions has to suggest. Read On…

BSNL

State-owned telecom firm Bharat Sanchar Nigam Limited (BSNL) has failed to pay the February salaries to around 1.76 lakh employees due to its financial crisis. This is the first time the company has defaulted in payment of its monthly salaries. The fully government-owned corporation is undergoing a major cash crunch due to the price war with private companies. The salary for the month of February has been delayed by 10 days.

The company usually pays its employees on the last working day of the month or the first working day of the next. While BSNL continues its enviable market share, such a crisis has befallen the operator for the first time. While telecom prices have been reduced drastically, mostly after the entry of Reliance Jio, BSNL continues to operate with its large staff as compared to lean numbers employed by rivals.

 

 

HAL

The defence PSU Hindustan Aeronautics Limited (HAL) had to borrow money for the first time in last 20 years to pay for salaries and meet some urgent expenses.

The report quoted HAL CMD R Madhavan saying,

“Our cash in hand is in the negative, we’ve had to borrow close to Rs. 1,000 crore as an overdraft (OD). By March 31, we’ll have minus of Rs. 6,000 crore, which becomes unsustainable. We can borrow for day-to-day work, but not for project purchases.”

Sources in the HAL also said that the situation had been deteriorating for the last one-and-a-half years.

Image result for hal borrows to pay salaries

DEFENCE SERVICES

As per a report published by Hindustan Times in February this year, The Indian Navy and the Indian Air Force will not have funds to pay for platforms and equipment they have agreed to buy (or have actually bought) in the past years in the coming financial year 2019-2020, unless the government allocates more money to them.

The Indian Army is better off, but in general the forces face a cash crunch, a senior defence ministry official, who did not want to be named. He also added that Defence minister Nirmala Sitharaman had already been briefed about this and has taken it up with the finance ministry.

Image result for air force navy stare at fund crunch next fiscal

TIFR

The government-run Tata Institute of Fundamental Research (TIFR) issued a notice that they will pay only half of the net salary to its staff for February due to a funds crunch.

“Due to insufficient funds, all staff members and students/ post-doctoral fellows of TIFR, its centres and field stations will be paid 50 per cent of the net salary for the month of February immediately,” TIFR registrar Wing Commander (retd) George Antony said in a letter to the staff.

“Remaining part of the salary will be paid when sufficient funds are available,” he said in the letter. 

TIFR is a national centre of the Government of India under the umbrella of the Department of Atomic Energy, as well as a deemed university awarding degrees for master’s and doctoral programmes.

Image result for TIFR to pay half salaries

STATUE OF UNITY 

Contrary to the bold claims made with regards to the tallest statue in the world, a local daily in Gujarat reported that the employees working at the site did not receive salaries for last 3 months. The workers of the UDS company that have been contracted to work at the site of the Statue of Unity had been on strike since the past quarter now, alleging that private players were exploiting local employees.

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Image result for statue of unity fails to pay salaries divya bhaskar

Later the authorities from Statue of Unity contacted khabarbar and their version has been added as a continuation to the story in this report.

Its time for Citizens of India to think what exactly is going to feed our families? Development talks and the way forward OR diversion from main issues to trivial news.

Image result for modi in newspaper ads lok sabha

 

 

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