“As an immediate impact, retail level price has started shooting up with rapidly depleting inventory here. Even worse is uncertain long term impact in the supply side in China. We are highly worried as the trade has almost completely become dependent on them,” said Bijoy Saha, a wholesaler in Siliguri dealing with Chinese kid’s ware, caps, belts etc.
Planters find political gameplan of TMC and BJP with tea sector scheme as fatal for the labour intensive industry
The proposal to build house for tea workers has become an issue of tug ob war in West Bengal between ruling party TMC and BJP. While both are keen on encashing the issue, tea entrepreneurs found this as ‘impractical’ and ‘fatal’ for industry.
In his last complete budget proposal prior to next assembly election in state, West Bengal Finance Minister has earmarked Rs 500 crore for a scheme to build permanent house for tea workers. As expected, workers have highly welcomed the scheme.
“Following our discussion on the issue, the Finance Minister has taken it into her consideration. While agreeing to the problems of tea sector associated to the policy, she has assured to bring in proper reforms in it,” BJP Loksabha MP from the heartland of Indian tea Darjeeling Raju Bista, told ET at a event organized by Siliguri Tea Traders Association.
India's first NiV outbreak victim town Siliguri is sinking deep under panic following Corona outbreak in China
With the death toll crossing 100, Corona Virus outbreak in China has set Siliguri in West Bengal under deep panic. The small city at close vicinity to Sino Indian border had once witnessed fatal assault of similar virus outbreak and lost 45 lives in just ten days.
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Public sector financial institution Life Insurance Corporation of India is shaping up plan to go for over 40% reduction in its stake in UTI Asset Management Company (UTIAMC). The process has been initiated following a directive issued by market regulator Sebi.
“A single unfavorable advice can initiate spiraling effect causing wide spread impact in eastern India as dependency of this region on tourism is quite high,” said veteran tourism adviser Raj Basu. “Now flow of cancellation calls from overseas clients has started making us worried,” said many tour operators. Foreign tourists form large chunk of tourism biz in the region.
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However, ‘regional tourists’ from India, Bangladesh and Maldives were not subjected to the SDF and visa fee. Bhutan is now going to introduce SDF and a permit processing fee for the regional tourists as well and a draft policy on the matter may be receive approval by the end of December.
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