A panel led by Bibek Debroy, chairman of the Prime Minister’s Economic Advisory Council, is working on a comprehensive framework for public and private infrastructure financing in India. The framework, expected by September, aims to address challenges in long-term funding and encourage private sector investment in key sectors like roads, railways, and ports.
The Karnataka government has temporarily put on hold the private sector quota bill, which aimed to reserve 50% of administrative and 75% of non-administrative jobs for Kannadigas in private industries. The decision came after industry concerns and backlash from the BJP, who claim the bill is unconstitutional. The government plans to hold consultations with industries to address their concerns.
The Karnataka government’s decision to implement a 100% reservation for Kannadigas in private sector Group C and D posts has ignited controversy, with industry leaders expressing concerns about its potential impact on the state’s economy and tech hub status. The bill aims to reserve 50% of management jobs and 75% of non-management jobs for locals in the private sector, while also mandating government officers to monitor its implementation. Industry leaders argue that this policy is discriminatory, regressive, and potentially unconstitutional, and could deter investment and talent acquisition.
European private sector economic activity rebounded strongly in April, driven by robust demand in services. However, inflationary pressures remain a concern, raising uncertainty about the European Central Bank’s (ECB) rate cut plans. The Eurozone Composite PMI Output Index rose to 51.4 from 50.3 in April, indicating growth in the services sector and a contraction in manufacturing activity.
