NEW DELHI, Feb 18 (PTI): Over one lakh people have lost their jobs in the export sector in the last five months due to the global downturn, the Rajya Sabha was informed today.
“A sample survey conducted by the Department of Commerce for 402 exporting units spread over 17 different sectors, primarily employment-oriented, revealed job loss (both direct and indirect) to the tune of 1,09,513 persons during the period August 2008 to mid-January,” Minister of State for Commerce and Industry Jairam Ramesh said in a written reply.
He said that the global slowdown, particularly in the US and European countries, have impacted India’s exports, which witnessed a decline in growth since October 2008.
After registering a handsome growth rate of over 30 per cent in the first-half of the fiscal, India’s exports entered the negative zone in October 2008, dipping by 12.1 per cent.
The shipments from India during April-December 2008 was $130.91 billion compared to $113.48 billion in the corresponding period last year, the minister said.
Loan disbursement: The government today said some of the banks were reluctant to disburse loans against the already sanctioned limits in the recent past. “In view of the tight liquidity conditions in the markets in the recent past, some of the banks were averse to disbursing working capital limits and term loans (including short-term loans) to their clients against the sanctioned limits,” Minister of State for Finance Pawan Kumar Bansal told Lok Sabha in a written reply.
With improvement of the liquidity positions, he said, the concerned banks were advised by the RBI to review all such cases and permit drawal of sanctioned limits, guided by their usual commercial judgment.
In addition, the banks were also advised by the RBI to consider restructuring of the dues of the Small and Medium Enterprises on merit and in accordance with the revised prudential guidelines on restructuring of advances, he added.
NHAI bonds: The National Highways Authority of India (NHAI) is looking at issuing Capital Gains Bonds worth Rs 3,700 crore in the ongoing financial year.
In a written reply to a question in Lok Sabha today, Minister of State for Shipping, Road Transport and Highways KH Muniyappa said tax saving bonds worth Rs 1,330 crore have already been issued until February 10 for the current fiscal.
The minister said NHAI issued bonds in the 2007-08 and 2006-07 fiscals worth Rs 305.18 crore and Rs 1,500 crore, respectively. The bonds, issued by NHAI, are of value of Rs 10,000 each and have a lock-in period of three years.
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