Housing prices bound to go up in medium to long term on rising construction cost: Credai
Credai President-Elect Boman Irani said the construction cost has risen by about 15 per cent because of a sharp hike in cement and steel prices.
Payment of wages to outsourced persons of Ministries/Department and other organizations of Central Government during 2nd Wave of COVID-19: The Central Government has decided to provide full wages to all contractual, casual and outsourced staff who were forced to stay at home during lockdowns this year. The Government will consider such workers “on duty” even if they had to stay at home during lockdowns from April 1 to June end.
In an Office Memorandum (O.M) dated 8th June 2021, the Department of Expenditure (DOE) noted the impact of lockdowns on contractual, casual and outsourced staff engaged by various Central Government departments and ministries.
- Non-life insurers’ gross direct premium rises 11 pc to Rs 12,316 cr in May
- Housing prices bound to go up in medium to long term on rising construction cost: Credai
- How homebuyer needs and preferences are changing in Covid times
“It has been seen that the 2nd wave of COVID-19, starting mid — April and continuing till now has impacted a large number of people in the country. However, unlike a nationwide lockdown last year, lockdown during this year has varied throughout the country based on the severity of the 2nd wave. Due to this there is a likelihood of a number of contractual, casual and outsources staff such as housekeeping staff etc. being required to stay at home for various reasons, which under normal circumstances, would result in a deduction in their pay/wages,” O.M. said.
ALSO READ | Central Government Employees’ pension rules simplified amid pandemic – Check details
The O.M. further announced relief for such workers by considering them “on duty” while they stayed at home during lockdowns.
How homebuyer needs and preferences are changing in Covid times
It’s not just the home buyer sentiments that have changed, real estate developers are keeping up with the changing needs of the buyers too.
“In order to avoid any undue hardships under the prevailing extraordinary circumstances, it has been decided that wherever any such contractual, casual and outsourced staff of Ministries/Departments and other organizations of Government of India, is required to stay at home due to state wise lockdown imposed by States/UT Governments or otherwise as deem fit by the competent authority, they may be treated as “on duty” during such period of absences and necessary pay/wages would be paid accordingly,” the DOE said.
The above instruction will for the period between 1st April, 2021 and 30th June, 2021. It will also apply to Attached/Subordinate Offices, Autonomous/Statutory Bodies of the Government of India.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
- No pay cut! Modi govt to treat Central Government workers on duty if they stayed at home during lockdowns
New Income Tax Site: Ill-timed launch of heavy, data guzzling site frustrates return filers
The private income tax softwares have also stopped working as they will start the software updation process once the income tax website is fully updated.