VVOLOL NO.NO. XIIXII ISSUEISSUE NNO.O. 5522 PPAGES.AGES. 88+8+8 ` //-- 4
EENGLISHNGLISH DDAILYAILY THE15 THURSDAY, OCTOBER,SOUTH 2020 PUBLISHED FROM: HYDERABAD, CHENNAI INDIA & BANGALORE EDITOR INTIMES CHIEF: BUCHI BABU VUPPALA www.thesouthindiatimes.com /facebook/thesouthindiatimes.yahoo.in / thesouthindiatimes.yahoo.in
2 AFGHAN PUNJAB TO LAUNCH PM MODI TO RELEASE HELICOPTERS CRASH AMID ITS OWN SC POST MATRIC RS 75 COIN TOMORROW HELMAND FIGHTING SCHOLARSHIP SCHEME
SHORT TAKES Rain continues in Hyderabad; India, Australia Cabinet approves World Bank aided project to collaborate in sustainable ground- death toll goes up to STARS for improving school education water management New Delhi, Oct 14 (UNI) The Hyderabad, Oct 14 Union Cabinet on Wednesday New Delhi, Oct 14(UNI) (UNI): Several residen- approved Rs 5,718 crore World The Union Cabinet was on tial areas in Hyderabad Bank aided project STARS for Wednesday apprised of an and suburbs remained improving school education. MoU signed between Cen- inundated on Wednes- Addressing mediaper- tral Ground Water Board day as unprecedented sons here after the Cabi- (CGWB), Department of rainfall has left at least net meeting, Information Water Resources, River 15 people dead. and Broadcasting Minister Development and Ganga Hyderabad has been Prakash Javadekar said, rejuvenation, India and lashed by rains since the Union Cabinet has ap- Managing Aquifer Recharge Tuesday evening. The proved Implementation of and Sustaining Ground- rains abated early the Strengthening Teach- water use through village- Wednesday, but doz- ing-Learning and Results level intervention (MARVI) ens of colonies both in and open nalas fl ooded ter level touched its Full all private institutions in for States (STARS) project PARTNERS, Australia in the city and suburbs roads and colonies. Reservoir level (FRL) of GHMC area today and with a total project cost of October, 2019, Information remained under wa- Authorities on Wednes- 1,763.500 feet. tomorrow. In a release Rs 5,718 crore with the fi- and Broadcasting Minister ter while water logging day opened 13 of the In view of the unprece- here, the Chief Secretary nancial support of World Prakash Javadekar said. Ad- and fallen trees affected 17 gates of Himayat dented rains for the last also advised GHMC of- Bank amounting to US $ 500 dressing a press conference the vehicular traffi c Sagar reservoir on the 12 hours and as per the fi cials and District Col- million (approximately Rs to brief the media about de- within the city and also outskirts of Hyderabad direction of Chief Min- lectors to arrange relief 3,700 crore). STARS project cisions taken by the Cabinet, on the national high- to let excess water into ister K Chandrashekar camps and shift the would be implemented as han, Maharashtra, Madhya ment a similar ADB funded chaired by Prime Minister ways to Vijayawada the Musi river which Rao, Telangana Chief people residing in low a new Centrally Sponsored Pradesh, Kerala and Odisha. project in five states namely Narendra Modi, Mr Javadek- and Bengaluru. The fl ows through the city. Secretary Somesh Ku- lying and inundated ar- Scheme under Department The identified States will Gujarat, Tamil Nadu, Ut- ar said, ‘the MoU has been heavy rains under the Hyderabad Metro Wa- mar reviewed the fl ood eas. Kumar also advised of School Education and Lit- be supported tor various tarakhand, Jharkhand and signed to promote coopera- impact of deep depres- ter Supply and Sewer- situation on Wednesday the people not to come eracy, Ministry of Education interventions for improv- Assam. All states will part- tion in surface and ground- sion wrecked havoc in age Board (HMWS&SB) and declared a public out from their houses (MOE). He said the project ing the quality of educa- ner with one other state for water training, education the Telangana capital opened the gates of Hi- holiday to all Govern- unless there is a serious covers 6 States namely Hi- tion. Besides this project, it sharing their experiences and research to achieve wa- as overfl owing lakes mayat Sagar as the wa- ment offi ces including necessity. machal Pradesh, Rajast- is also envisaged to imple- and best practices. ter security for agricultural, urban, industrial and envi- ronmental purposes.’ BJP’s Tripura MLAs, Covid underscores need for greater Sushant case: ED raids India developed a super- 4 locations linked to filmmaker sonic cruise missile Brahmos party cadres meet global cooperation: President in association with Russia Dinesh Vijan whose range of under 500 New Delhi, Oct 14 (UNI) Mumbai, Oct 14 (UNI) kilometers. In the last few central leadership President Ram Nath Ko- The Enforcement Direc- weeks, India has test-fi red a Agartala, Oct 14 (UNI) Amid that the state party leadership vind on Wednesday said torate (ED) on Wednes- number of missiles including media speculation about dis- was not aware of the visit to the that the Covid-19 pan- day carried out searches a new version of the surface- sidence in the BJP’s Tripura national capital. “Anyone can demic has underscored at four locations linked to-surface supersonic cruise unit, party President JP Nadda go to Delhi and meet the central the need for greater global to filmmaker Dinesh Vi- missile BrahMos and anti- met four legislators from the leadership.” cooperation to ensure col- jan in connection with radiation missile Rudram-1. state in New Delhi and dis- “If anyone is found indulg- lective health and econom- its probe into the money along with Kirti Sanon cussed various issues, party ing in anti-party activities, the ic well-being, expressing laundering angle in the in “Raabta”, which was militants killed in MLA Ram Prasad Paul said on party will take action. Ranajay hope that the international Sushant Singh Rajput released in 2017. Vijan encounter Wednesday. Deb had resigned from the community will soon find a and Botswana, Reuben all the three countries. death case. An ED source was also the co-producer Paul, a former Tripura BJP party before the 2018 Assem- solution to the pandemic. Gauci and Gilbert Shimane “Our ties are deeply root- said currently the agency of the movie. The film Srinagar, Oct 14 (UNI) Two Vice-President, said that a bly elections and his resig- He was speaking after Mangole respectively, pre- ed in a common vision of was carrying out searches bombed at the box office. militants were killed in a brief 14-member delegation of the nation was accepted,” Bhat- accepting letters of cre- sented their credentials to peace and prosperity.” in four locations linked The ED registered a case encounter, which ensued af- state BJP leaders, led by for- tacharjee told IANS. Paul said dence from the Ambas- Kovind. The President also to Vijan. The source re- of money laundering on ter security forces launched a mer state President Ranajay that Nadda held a one-hour sador of Switzerland and Speaking on the occa- thanked their governments fused to share further July 31 on the basis of Cordon and Search Operation Deb, met BJP national General meeting on Tuesday evening the High Commissioners sion, President Kovind for supporting India’s details. However, IANS an FIR filed by the Bihar (CASO) in south Kashmir dis- Secretary Arun Singh as well with the four Tripura legisla- of Malta and Botswana in conveyed his good wishes candidature for the non- tried to contact Vijan Police on the complaint trict of Shopian on Wednes- and discussed organisational tors in the presence of BJP a virtual ceremony. Ralf to the envoys on their new permanent seat in the UN and a reply from him was of Sushant’s father K.K. day. Offi cial sources said that and state matters. On the other national Vice-President Jay Heckner, Ambassador of assignments and noted Security Council for 2021- awaited. Vijan debuted Singh. In the FIR, Singh following specifi c information hand, Tripura BJP’s spokesman Panda and national General Switzerland, and the High that India enjoyed warm 22, a Rashtrapati Bhavan with “Raabta” as a film had alleged that an about presence of militants, Nabendu Bhattacharjee said Secretary Arun Singh. Commissioners of Malta and friendly relations with statement said. director. Sushant starred amount. troops of Rashtriya Rifl es (RR), CRPF and Special Operation Group (SOG) of Jammu and ‘Common man’s Diwali in your Kashmir police launched a India’s FY21 GDP outlook worsens, joint Cordon and Search Op- hands’: SC seeks speedy interest waiver eration (CASO) in orchards at Chakura, Shopian. However, New Delhi, Oct 14 (UNI) government should see give us proper format,” IMF sees 10.3% contraction when the security forces were The Supreme Court on the plight of the common he submitted. Justice moving towards a particular Wednesday told the Cen- man, as they know that Bhushan said the court New Delhi, Oct 14 (UNI) With area in the orchards after seal- tre that the common Centre has taken a deci- will hear the matter in No- the coronavirus pandemic still ing all exit points, militants man’s Diwali is in the sion in their favour. “But vember and then the Cen- to be contained and the central hiding there, opened fi re. “Se- government’s hands, as they want some concrete tre should inform it steps government’s stimulus mea- curity forces retaliated ensu- it sought implementation result,” he added. Mehta taken to implement its sures having limited impact on ing in an encounter, ‘ he said. of the decision to waive said the government has decision. “We want order economic activities and con- interest-on-interest for considered the plight of for circular for implemen- sumer demand, the outlook UP: Woman burnt loans up to Rs 2 crore for the common man and it tation of this decision,” he for the Indian economy for the alive for dowry eight categories. does not gain anything by said. current financial year has only The top court gave delaying its decision un- The bench reiterated worsened. Etah, Oct 14 (UNI) A woman time till November 2 to “This is not fair on the necessarily, but there are that it welcomes the deci- In its latest global outlook, was killed after being set ablaze the Centre to update it on part of the government,” certain formalities which sion of the Centre, but the the International Monetary market and developing econ- per cent in 2020, as per IMF’s by her in-laws for failing to ful- the issuance of circulars said Justice Bhushan, not- have to be completed. To only thing is that it should Fund (IMF) predicts that In- omy regions are expected to latest estimate. In her fore- fill their dowry demands in the in this matter. A bench, ing that the top court has this, the bench said the be translated practically. dia’s GDP will contract by 10.3 contract this year, IMF’s World word to the World Economic Jasrathpur area here, police headed by Justice Ashok given enough time to the government. Justice Shah said that per cent in the 2020-21 fiscal. Economic Outlook said: “Revi- Outlook, IMF Chief Economist said on Wednesday. Senior Bhushan and comprising government to act in the should have issued a “the common man’s Di- This is a downward revision of sions to the forecast are par- Gita Gopinath noted that pre- Superintendent of Police (SSP) Justices M.R. Shah and matter. “When you have circular to implement its wali is in the government’s its previous estimate of 5.8 per ticularly large for India, where venting further setbacks to the Sunil Kumar Singh said that before her death, the woman R. Subhash Reddy told decided, then why it is tak- decision. Mehta replied hands”. The top court cent. The outlook for the next GDP contracted much more global economy will require had accused six people includ- Solicitor General Tushar ing time,” he asked. that banks will waive in- has scheduled the mat- financial year (2021-22), how- severely than expected in the that policy support is not pre- ing her husband and in-laws Mehta, representing the The bench insisted that terest on interest and then ter for further hearing on ever, has improved. The IMF second quarter. As a result, the maturely withdrawn. “The of burning her alive. Based on Centre, that it does not the Centre should issue they will get reimburse- November 2. The govern- now estimates an 8.8 per cent economy is projected to con- path ahead will require skilful a written complaint furnished require one month time necessary orders based ment from the govern- ment has agreed to waive growth in the country’s GDP in tract by 10.3 per cent in 2020, domestic policies that manage by the deceased’s father Sa- to implement its decision on its decision so that ment in the eight cat- compound interest on FY22, higher than the previous before rebounding by 8.8 per trade-offs between lifting near- typal, all six have been booked on waiver of interest on the common man can re- egories of loans up to Rs 2 MSME and personal loans estimate of 2.8 per cent. cent in 2021.” Global economy term activity and addressing under IPC Sections 498 A, 304 B and 3/4 of the Dowry Act . interest on loans up to Rs ceive the benefits. Justice crore. “To implement this, up to Rs 2 crore during the Noting that all emerging is now projected to contract 4.4 medium-term challenges. 2 crore. Shah told Mehta that the we have to ensure banks moratorium. EDIT 2 THE SOUTH INDIA TIMES 15 THURSDAY, OCTOBER, 2020 Email : [email protected] / (H.O) Hyderabad THE SOUTH INDIA TIMES Startup3.0: Supporting Entrepreneurs, Building 15 THURSDAY, OCTOBER, 2020 Entrepreneurship through Acquisition & Search
Spending time abroad Entrepreneurship through Acquisition, less uncertainty given the businesses are also known colloquially as the Search already functioning and steadier. Overall, can transform your life Fund, is an emerging avenue through the chance to go deep in an industry, which aspiring entrepreneurs can quickly understand how to grow a business and It was spring when I first set foot on the picturesque give shape to their entrepreneurial spirit build a team are all invaluable skills and French Riviera. Driving along the winding coastal roads, I leveraging their own managerial abilities. learning experiences. could not help but be mesmerized by the deep blue of the What is it? On the flip side, the best search is one Mediterranean Sea. Each of the pretty towns had an artistic The Stanford Center for that is industry and geography agnostic. flair to them; so much so that I felt like I was wandering Entrepreneurial Studies defines search Many investors in search funds encourage through a living painting, complete with picturesque fund as “An investment vehicle through the searcher to carry out a geography scenes, fragrant gardens, and animated society. It is no which investors financially support an agnostic search in order to maximize the wonder that artists and authors such as Pablo Picasso, entrepreneur’s efforts to locate, acquire, chances of finding the best business to Henri Matisse, Francis Bacon, Edith Wharton, and Pierre- manage, and grow a privately held buy. Simply put, you will have to move to Auguste Renoir flocked to this region for inspiration. company. The model offers relatively whichever city the business is based in. In 1924, American novelist F. Scott Fitzgerald moved to inexperienced professionals with While the move may be possible for the the French Riviera with his family to focus on his writing. limited capital resources, a quick path searcher, it could be the very difficult for He had been struggling to get anything done at his home to managing a company in which they existing business is as old as doing business need. Another is a penchant for being a their partner. Similarly, the industry the in Long Island, New York, with so many distractions and have a meaningful ownership position.” itself, search funds as a separate asset class generalist: enjoying finance, operations, company operates in would usually be the hefty cost of living. His sojourn in the south of France Although many variations exist within are relatively new and niche. According to strategy, people management and going a traditional industry given the desire proved to be fruitful, as it was there that he wrote “The search funds, the most common one is the Search Fund 2020 study by Stanford, into the weeds of running a business for stable and recurring nature of the Great Gatsby,” which was widely acclaimed to be one of where the individual raises a fund from the number of new search funds stand at day to day as opposed to being biased cash flows. These would usually not be the best American novels of the 20th century. investors to “search” for a company and 51 in 2019. As an asset class, they generated towards a particular function. Lastly, frontier/disruptive technology industries Meanwhile, US journalist and novelist Ernest then buys the company with a mix of debt 32.6 per cent IRR and RoI of 5.5 times. there was a desire to own an already usually associated with start-ups (if at all Hemingway was among the many foreigners who lived in and equity capital. This process typically One of the most well-known examples of functioning business as opposed to that could be considered a con). Paris during the 1920s. Hemingway was introduced to the takes 18-24 months. The individual gets a a successful search fund is Asurion, which going through the process of establishing If you want to work in blockchain, French capital’s illustrious literary and artistic circles by his meaningful equity stake in the company, was acquired for $6 million by two Stanford one from scratch. machine learning or autonomous mentor, Sherwood Anderson. He quickly developed strong operates it for 5-7 years typically, before Business School graduates in 1995 and is Pros and Cons vehicles, want to only live in a large friendships with Gertrude Stein, Sylvia Beach and James exiting usually by selling it to a strategic now a multibillion (yes, billion!) technology No other path allows for becoming a urban hub, want venture type growth Joyce, and was even acquainted with painters Joan Miro acquirer or a lower middle market private insurance company used by approximately CEO of an established business at such and returns, this is probably not the and Picasso. These friendships would play a pivotal role in equity firm. Compared to the other one in four people in the US. an early age. The experience is hard to ideal path for you. If you like operating elevating Hemingway’s craft as a writer, paving the way for two models of entrepreneur capacity Who should do it? replicate and would be valued in the and growing an existing business, if you him to publish two seminal works, “In Our Time” and “The building (Entrepreneur-in-Residence The common profile of a searcher is market very highly after exiting. Purely are flexible putting down roots for a few Sun Also Rises.” In 1964, his sumptuous Paris memoir, “A and Venture Studio) which help you someone around 30, usually an MBA, from a financial perspective, the median years in a relatively smaller place and Moveable Feast,” was published. Living abroad to seek or launch a venture from the ground with a few years of solid work experience equity compensation for those who had if you want a solid payout from a risk- renew inspiration is not a new concept. In fact, during the up, search funds would make you an under their belt though investors are exited the business was $3.25 million return perspective, this is a great option. 17th and 18th centuries, many young aristocrats would entrepreneur through acquisition (EtA). becoming more comfortable backing with a per-year value of $0.67 million for Conclusion spend a few years touring several European cities as an Typically, the company for acquisition non-MBA searchers especially if they every year of operation and the median Startup 1.0 was when investors felt essential part of their education in the arts. Several famous would be one with stable and recurring have specific expertise (industry or compensation was $253,500 (base salary comfortable backing entrepreneurs writers and artists have credited living abroad with helping revenue, strong EBITDA margins, in a functional). Having seen many friends plus bonus). Risk adjusted, these are and ideas and then sitting back hoping their creative flow, saying it allowed them to build a unique fragmented industry, with favourable go down this route, there are some better economics than most traditional to reap returns. There was minimal repertoire of experiences. industry trends, history of profitability common personality traits I observed. jobs including investing roles and are support and the entrepreneurs had In today’s globalized world, it is important that people and growth, low capex and multiple The first was a desire to do something only topped by outcomes for start-up to figure out solutions without any are groomed to be global citizens who can connect with levers of adding value post acquisition. entrepreneurial and independent founders with very successful exits which playbook. In Startup 2.0, there was more others in an intelligent, cultured, and sensitive manner. Generally, companies that first-time without necessarily being wedded to an are outliers not the norm. hands-on support in additional to the Living abroad gives people the opportunity to immerse acquirers typically look for fall in the $1 idea or an industry. The idea of operating Search funds offer the same flexibility financial one as venture capital became themselves in a number of unique and unforgettable - 3million EBITDA range. a company was appealing to them as and independence as start-ups and more competitive and investors had to experiences. Living abroad offers the opportunity While the concept of acquiring an opposed to preference for a sector or a arguably a better work-life balance and compete for the best deals. to become immersed in a number of unforgettable experiences. The sum of these experiences is enough to improve one’s well-being and allow one to revel in beautiful memories. Travelers can enroll in a language Expenditure matters more than borrowing school to understand the nuances of the local language. Many countries are also culturally rich, with renowned Indian state governments have market all its Class B and C employees. Several museums and art galleries that captivate curious minds. loans (SDLs), borrowings of Rs 1.93 lakh of the Class C employees are temporary One can also begin to understand the interconnected crore so far this year, this is 76 per cent contract employees, till such time a new histories of different countries at various periods in higher than the corresponding period policy does not come out there is unlikely history and the value of diplomacy in maintaining peace last year. This rise is already sitting to be any recruitment in these segments. and prosperity. Bookshops and libraries hold within on leverage balance sheet of states, Hence no extra expenditure on salaries them the finest of thoughts, knowledge, and stories especially states like Uttar Pradesh and or allowance. to illuminate the intellect. Furthermore, people can Maharashtra. Uttar Pradesh had an Almost 18 states have reduced their enjoy unforgettable nature experiences, such as hiking outstanding debt of around Rs 6 lakh expenditure on salary and pension by in Switzerland, swimming in Lake Como or strolling crore while Maharashtra had a debt of Rs over 10 per cent and on subsidies by through a lavender field in Provence. But, perhaps most 5 lakh crore. Will they be able to cross the almost 40 per cent. But expenditure on importantly, we can meet fascinating individuals from all river of debt safely. Every state in India is public health/administrative because walks of life and make lifelong friendships. The sum of all facing a liquidity crisis the degree varies of Covid prevention or management these experiences is enough to improve one’s well-being depending upon their management measures pushed ‘other expenditure up and allow one to revel in beautiful memories. One of the of planned expenditure. States are by 40.1 per cent. immediate rewards of living abroad is savoring the local borrowing has shot up in the last Borrowing more debt on a highly cuisine. I can’t think of a more suitable story in this regard quarter and they have started reducing leveraged or burdened balance sheet than that of American chef and TV personality Julia expenditure but it is not enough. State means that one the cost of borrowing Child. Having lived with her diplomat husband in Paris, government investment is important keeps rising and second a large part of Marseille and Provence, Child was certainly romanced and is the largest component driving the the expenditure goes towards servicing by the French cuisine. She fondly recalled being smitten economy, it is much more than private debt. This leads to a debt trap, something by her first French meal at La Couronne restaurant in the sector or union government investment. that can happen in Punjab. The sate has city of Rouen, describing the menu of oysters and sole Hence if the states stop investing in to go for more market borrowings at least fillets as “an opening up of the soul and spirit.” Entranced capital expenditure due to financial crisis to meet some committed expenditure of by the food culture in Paris, she enrolled in the famous they are facing the overall economy will Rs 58,981 crore for 2020-21 (67 per cent Le Cordon Bleu cooking school for a yearlong program further slow down. estimates that the total shortfall in employees, and in the mid-term will slow of the state’s revenue receipts). Earlier, under the tutelage of master chef Max Bugnard. The GST council in its October 5th this fiscal year will be about Rs 3 down their economy, further creating a they permitted Punjab net market meeting almost rejected the demand lakh crore at a GDP growth rate of vicious downward spiral. If states do not borrowings of Rs. 9098 crore in April- of 10 states for immediate payment 10 per cent that is disputable. Out manage their priorities of spending well, December, it quickly exhausted this of compensation arising out of GST of this Rs 65,000 crore is expected a debt trap can also happen. borrowing limit and asked the central Printed, Published and Owned by Buchi Babu. Vuppala, Printed implementation. Though the council to be generated through cess. The The union government was generous government to enhance the limit. The at. Meera Offset Printers. No. 104. V.R. Pallai Street. Triplicane, approved an additional Rs 24,000 estimated deficit of Rs 2.35 lakh in April-May period, transferring double centre has the power to allow states, crore of IGST dues and Rs 20,000 crore this financial year has to be the gross amount of collection under GST based on borrowing needs and actual Chennai- 5, Published from: No. 31 (Old) No. 58 (New) Nagappa crore of compensation to be released bridged through borrowing by states to states as their share of central taxes, cash availability, in the early second half Mudali Street. Pudupet, Chennai-2. immediately. This may ease the liquidity But even in states that have borrowed but this liquidity is no longer available. of the financial year. States borrowing Editor. Buchi Babu Vuppala. crisis faced by state government but does to meet the shortfall, the cost of debt The amount of transfer has been falling costs may spike, as in the first bond RNI.No.TNENG/26176/2008. not solve the problem. The problem is rising. Property transactions are since June 2020, when it was down by 9 auction of the current financial year in is liquidity, debt management, and down because of lockdown and lack of per cent, almost Rs 4,000 crore compared April, Kerala paid the highest borrowing Administration Office : No.18 B, Alikulam Shopping Complex, expense prioritisation. There is a sea of certainty in home buyers’ mind. Revenue to April-May. From to August the states rate of 8.96 per cent. Compared to fixed More Market, Chennai - 600 003. expense, and a rising debt burden, due to receipts from stamp-paper sales on have got a monthly average amount of interest deposits of banks paying 3.5 - 7 the delay of compensation now there is a property transactions, one of the biggest Rs 42,000 crore, 9-10 per cent down from per cent. Registered Office : No. 31 (Old) No. 58 (New) Nagappa Mudali liquidity crisis too. sources of revenues, is now scarce. This earlier periods, as per RBI figures. Take the largest state Uttar Pradesh, Street. Pudupet, Chennai-600 002. Every state government is facing an loss of revenues means deficit financing States like Haryana, Uttar Pradesh, in the April-June 2020 period, the state important dilemma. How to navigate the has to be done through only market Himachal Pradesh, Uttarakhand and has notched up revenues receipts of Rs Hyderabad : 17-1-469/A/42/23,Adarsh Nagar, sea of expenses on a borrowed boat. A boat borrowings. Maharashtra are facing more than a 30 44,801 crore but its expenditure shot up near Unique Grammar school, Saidabad, that is continuously being overloaded The immediate challenge for some per cent decline in their GST revenues to more than Rs 58,500 crore. That means Hyderabad -500059, Telangana. with more and more debt. The falling states is to keep paying the salaries, during April and August 2020, according it has borrowed between Rs 10,000 to Rs GST revenue from center combined with pension and subsidies. There is an Anurag Thakur Minister of State for 14,000 crore to fill the deficit. The state Rni no. Teleng/2009/29225 lower state’s tax collection from housing immediate liquidity crisis in several Finance. This sharp drop in GST revenues will have to continue borrowing for the Bangalore : 3rd Main Road- 4, L.N. Pura, and excise revenues is pushing towards a states. Finance department in states are automatically means that the Union next six months, but Corona is not going liquidity crisis. delaying payments of subsidies or release government will share less. away and the economy will not revive bangalore- 560 021, karnataka. The union government deferment of payment even under MNREGA. This is The states have reduced expenses, soon. Farmers, migrant workers and Rni no. Kareng/2012/43253 of compensation is like a hole in affecting implementation of state level beginning with temporary staff. UP is set other sections of the society will need the that unsteady boat. The GST Council schemes, employment of temporary to overhaul the recruitment policy for state support. NATION 3 THE SOUTH INDIA TIMES 15 THURSDAY, OCTOBER, 2020 Email : [email protected] / (H.O) Hyderabad PM TO RELEASE RS COVID-19: INDIA'S RECOVERY RATE Madras HC warns Rajinikanth