Business
Kannur Airport reeling under heavy losses

Kerala’s fourth and the biggest of all airports — the Kannur International Airport Limited ( KIAL) — is reeling under heavy losses.
After four years since opening, the losses have now crossed Rs 300 crore, sources said.
It was inaugurated by Chief Minister Pinarayi Vijayan in 2018 and has turned out to be a big relief for all political leaders hailing from Kannur, including Vijayan and numerous others, who had to earlier take a flight to the state capital from the neighbouring Kozhikode district.
One reason why KIAL is lying in the red is because just as the airport was getting traffic, the Covid pandemic hit and since then it has been struggling despite the best efforts of getting more airlines to operate domestic and international flights from there.
Registered under the Companies Act, KIAL is a government company with the Kerala government holding the maximum shares, accounting for 39 per cent, followed by the Bharat Petroleum Corporation Limited with 16.20 per cent and billionaire Keralite businessman M.A. Yusuf Ali, who owns close to 9 per cent shares.
While sitting in the opposition, the CPI-M had gone hammer and tong against the then Oommen Chandy-led government (2011-16) for not doing anything to increase the runway of the airport to 4,000 metres as a further close to 240 acres of land had to be acquired. But though the Vijayan-led government has now completed six years in office, it has also not been able to increase the runway to 4,000 metres.
Though KIAL is running under losses, it can take heart from the fact that the country’s first airport built under the PPP model — the Cochin International Airport Limited — was opened in 1999, but it started paying dividends only from 2003-04. And by now the total dividend payout has crossed 282 per cent.
Authorities expect that things will change if more and more domestic and international flights begin operations from the the Kannur International Airport.
Business
Chhattisgarh CM to showcase new industrial policy during his two-day Mumbai visit

Mumbai, April 22: Chhattisgarh Chief Minister Vishnu Deo Sai will be on a two-day visit to Mumbai from Wednesday, where he will participate in two major national events, including the CMAI Fab Show and the India Steel 2025.
During these events, he will present Chhattisgarh’s new industrial policy, its investment potential and infrastructure vision before leading industrialists and policymakers from across the country.
According to the Chhattisgarh Chief Minister’s office, CM Sai will take part in the Fab Show on April 23, organised by the Clothing Manufacturers Association of India (CMAI). This annual event brings together leaders from garment manufacturing, exports, and branding. The chief minister will highlight the incentives and opportunities available for the textile sector under Chhattisgarh’s new industrial policy. Several major companies are also expected to sign MoUs for investment in the state during this event.
On April 24, Prime Minister Narendra Modi will address the ‘India Steel 2025’ event via video conferencing. CM Sai will also address the inaugural session as the Chief Guest. On this platform, he will present the highlights of Chhattisgarh’s new industrial policy, infrastructure readiness for the steel sector and the state’s long-term development vision.
On the same day, a Chhattisgarh Roundtable Meeting will also be held, where the CM will engage in direct dialogue with potential investors. The discussion will focus on specially developed industrial clusters for the steel sector, logistics infrastructure, single-window clearances, and labour-friendly policies.
CM Sai will also visit the Chhattisgarh State Pavilion set up at the Bombay Exhibition Centre. This pavilion will showcase the state’s robust industrial infrastructure, business-friendly environment, and emerging investment opportunities — aiming to attract national and international investors.
This is CM Sai’s second visit to the financial capital of the country since January this year. During that visit, Chhattisgarh had attracted investment worth Rs 6,000 crore in a range of sectors, including plastic, textile, cement, IT and food processing. He had told the investors that since the launch of the new industrial policy last year, the state had attracted investments of Rs one lakh crore. He had told the investors that the process of no-objection certificates had been streamlined, and clearances were now processed through a single window system.
Crime
Why Bengal govt is taking time to implement SC’s order on cancellation of school jobs: Calcutta HC

Kolkata, April 21: The Calcutta High Court, on Monday, observed why the West Bengal government and West Bengal School Service Commission (WBSSC) are taking time to implement the order by the Supreme Court (SC), cancelling 25,753 teaching and non-teaching jobs in state-run schools.
Acting on a contempt-of-court petition filed against the state government and WBSSC for not implementing the apex court order, Calcutta High Court’s division bench of Justice Debangsu Basak and Justice Shabbar Rashidi also directed the state government and the commission to explain to the court within a day.
The next hearing on the matter will be on April 23, and the state government and the commission will have to submit their explanations on the same day.
Last year, the same division bench of Justice Basak and Justice Rashidi cancelled 25,753 teaching and non-teaching jobs, which is the entire panel of WBSSC for 2016. The state government approached the SC challenging the order.
Earlier this month, the SC division bench of Chief Justice of India Sanjiv Khanna and Justice Sanjay Kumar upheld the order of the Calcutta High Court and also accepted the observation that the entire panel had to be cancelled because of the failure on the part of the state government and the commission to segregate the “genuine” candidates from the “tainted” ones.
Thereafter, the contempt of court petition was filed at the same division bench of the Calcutta High Court, accusing the state government and the commission of not even initiating the termination of jobs of those who have already been identified as “tainted” by the commission itself.
During the hearing in the matter on Monday, the division bench observed that there will be problems if even the “tainted” candidates continue receiving their salaries.
On Monday, the division bench also raised the question of why the Central Bureau of Investigation (CBI) officials are not interrogating those candidates who have already been identified as “tainted.”
The division bench also observed that the CBI should find out how those who were paid money by the “tainted” candidates against jobs.
On Wednesday, the CBI counsel will also have to give an explanation to the court in the matter.
Business
IMF, World Bank see India’s potential as engine of global trade: FM Sitharaman

San Francisco, April 21: Finance Minister Niramala Sitharaman said on Monday that India has become the fastest-growing economy, driven by the “visionary leadership” of Prime Minister Narendra Modi and the stability provided by a continuing government.
Addressing the Indian diaspora in the US, the Finance Minister said, “When we say that India is the fastest-growing economy and when the IMF and World Bank recognise that India can be the engine driving global trade, what they are recognising is the immense potential that exists in India.”
Highlighting the steps to strengthen the Indian economy, Sitharaman said, “During the Covid-19 pandemic, our fiscal deficit went up. But in 2021, we came up with a clear signal as to how we wanted to manage our fiscal deficit. We set year-on-year targets and committed to bringing the fiscal deficit below 4.5 per cent by 2026. And that’s what we have been following each year without fail.”
She said the government’s primary focus under Prime Minister Narendra Modi is achieving ‘Viksit Bharat’ by 2047. This vision encompasses improvements across sectors impacting women, the impoverished, youth, and farmers.
FM Sitharaman highlighted that India prioritises ‘Sunrise Sectors’ and stands out as a leader in Digital Public Infrastructure, driving innovation and growth..
She also said, “Prime Minister Narendra Modi makes it a part of his every overseas visit to connect with the Indian diaspora because he thinks that it is important that India connects with each one of you who, located in whichever part of the world, are doing your best to contribute to the world and stand out as an example.”
Sitharaman is on a five-day visit to the United States. Upon her arrival in San Francisco, she was received by Indian Ambassador Vinay Mohan Kwatra
During the visit, she is slated to deliver a keynote speech at Stanford University and hold discussions with CEOs in San Francisco on investment and technological advancements. The visit will also include participation in diaspora events, enhancing India’s global cultural presence.
In Washington DC, Sitharaman will attend the IMF and World Bank Spring Meetings, and the G20 Finance Ministers and Central Bank Governors meetings. She will also hold bilateral talks on the sidelines with counterparts from the US, the UK, France, Germany, Saudi Arabia, and other countries, as well as top officials from international financial institutions. After completing her US trip, Sitharaman will travel to Peru for a visit from April 26 to 30.
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