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Covid spike: Nirmala Sitharaman says second wave won’t impact industry in recovery mode

Sitharaman said Budget proposals with regard to disinvestment and setting up of Development Finance Institution (DFI) are on course. The government has set a disinvestment target of Rs 1.75 lakh crore for the current year;

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Union Finance Minister Nirmala Sitharaman on Thursday said the second wave of the pandemic will not affect the institutional reforms, including the disinvestment plans outlined in the Budget, although the focus right now was to take steps towards meeting the immediate requirement of saving lives.


Speaking at a webinar, organised by The Indian Express and Financial Times, the Finance Minister said the situation in 2020 when a nationwide lockdown was announced and the situation now are very different. Sitharaman said, the government has been taking steps to deal with the second wave of COVID-19 with regard to supply of medicines and oxygen.

Sitharaman said the second wave has been challenging on many grounds, including supply of medicines and oxygen, the government has been taking decisions, including on imports of medical oxygen and boosting supply of medicines. She said India was importing medical oxygen to meet the immediate challenge and had the testing capacity and vaccines to tackle the second wave.

She said Budget proposals with regard to disinvestment and setting up of Development Finance Institution (DFI) are on course. The government has set a disinvestment target of Rs 1.75 lakh crore for the current year; BPCL, Air India, Shipping Corporation are among the key strategic sale proposals under process.

Quoting the Prime Minister, Sitharaman said there will not be a country-wide lockdown comparable to 2020. A fresh wave of infections has led to localised containments in some parts of the country, affecting the movement of people and goods.

Sithraman said, there are numbers and the surge in certain pockets that is so significant — as in Delhi — the Centre’s week-long lockdown would affects the movement of goods and also, the industry suffer because the movement of raw materials would get affected.

She said that there are part lockdowns but hopefully it will be lifted once the infection chain is broken. In the context of lockdown not really having been imposed, however, lives being in difficulty because of the pandemic. the government would focus on these life saving Covid safety measures such as supply of medicines and oxygen.

The minister said it was too early to say if the restrictions are going to affect India beyond this week. India registered over 3.14 lakh new coronavirus cases in a day, the highest-ever single-day count recorded in any country, taking the the total tally of Covid-19 cases in the country to 1,59,30,965, according to the Union Health Ministry data updated on Thursday. A total of 3,14,835 fresh infections were registered in a span of 24 hours, while the death toll increased to 1,84,657 with a record 2,104 new fatalities.

kicking off Thursday’s discussion on ‘India’s Quest for Economic Power’ as the keynote speaker, she said at this stage, the focus is to address the immediate requirements for saving lives and also making sure that vaccination is ramped up.

Read Also: Arvind Kejriwal’s televised discussion with PM Modi sparks controversy, his office says sorry later

The first part of the series organised under the broad theme ‘India’s Place in the Post-Pandemic World’ began Thursday, wherein policy, business and finance leaders from India and overseas discussed the challenges and opportunities for India in its quest for economic poweer

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Centre pushes states to cut levies to boost PNG adoption

The Centre has asked states to reduce local levies and streamline approvals to accelerate PNG adoption and city gas infrastructure growth.

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LPG Cylinder

The Ministry of Petroleum and Natural Gas has urged states and Union Territories to ease local levies and procedural barriers affecting City Gas Distribution (CGD) projects, in a bid to accelerate the adoption of piped natural gas (PNG) as a cleaner fuel alternative.

In a communication sent to Chief Secretaries, Petroleum and Natural Gas Secretary Neeraj Mittal highlighted that high right-of-way charges, road cutting fees, lease rentals and other local levies imposed by urban bodies are discouraging investments in CGD infrastructure.

High costs slowing expansion

The ministry pointed out that the CGD sector, particularly PNG supply to households and commercial establishments, does not receive direct subsidies. As a result, it depends heavily on viable returns, which are being impacted by excessive and inconsistent local charges across states.

It noted that these financial and procedural hurdles are slowing down infrastructure expansion and affecting the broader adoption of natural gas.

Gap between connections and usage

According to the government, while around 12.63 crore PNG connections have been recorded, only about 1.6 crore are currently active. The ministry stressed that improving ease of doing business at state and local levels could help bridge this gap and expand the consumer base.

Officials believe that rationalising levies may initially reduce local revenues but could lead to higher long-term gains through increased gas consumption and economic activity.

LPG shortage adds urgency

The push for PNG adoption comes amid supply constraints in liquefied petroleum gas (LPG), linked to ongoing tensions in the Middle East. Oil marketing companies are currently supplying only 20 per cent of normal commercial LPG demand to states.

To address this, the ministry has proposed increasing LPG allocation to 30 per cent for states that implement reforms supporting PNG and CGD expansion.

Reform-linked incentives for states

The Centre has suggested a set of measures that states can adopt to qualify for higher LPG allocations. These include:

  • Setting up empowered state and district-level committees for faster approvals
  • Introducing single-window clearance with deemed approvals within 24 hours
  • Implementing a dig-and-restore model using bank guarantees instead of restoration charges
  • Eliminating annual rental or lease charges for CGD infrastructure

The ministry said compliance with these reforms would be verified before granting additional LPG allocations.

Industry support measures

The communication also noted that GAIL and its subsidiaries have already allocated full gas supply to the commercial PNG segment to support businesses affected by reduced LPG availability.

The government reiterated that expanding natural gas usage aligns with its broader push for cleaner and domestically sourced energy.

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BJP seals Assam seat-sharing pact, Modi to hold 3 rallies in April

BJP has finalised its Assam seat-sharing plan with allies and is gearing up for an intense campaign led by PM Modi and Amit Shah.

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The Bharatiya Janata Party has finalised its seat-sharing arrangement for the upcoming Assam Assembly elections, firming up its strategy alongside National Democratic Alliance partners as campaigning gathers pace in the state.

Under the agreement, the BJP will contest 89 seats, while its allies — Asom Gana Parishad and Bodoland People’s Front — will field candidates in 26 and 11 constituencies respectively. The distribution has been decided after internal deliberations, with the focus now shifting to candidate announcements and campaign execution.

Campaign push led by top leadership

Prime Minister Narendra Modi is expected to address three rallies in Assam during the final leg of the campaign. Tentative dates for the rallies are April 1, April 3 and April 6, with events likely to be held in key constituencies.

Union Home Minister Amit Shah is also set to spearhead an extensive campaign across the state through March, aiming to energise party workers and strengthen voter outreach.

Candidate selection underway

The party’s Central Election Committee is currently meeting to finalise candidates. Sources indicate that approvals for most constituencies are expected soon, and the BJP may release its complete list of candidates within the next two days.

Ticket distribution remains a crucial exercise, with internal discussions highlighting its potential impact on local political dynamics. Party leaders have also touched upon the proposed delimitation exercise scheduled for 2027, which is expected to have long-term implications for Assam’s electoral landscape.

Polling and counting dates

Voting for all 126 Assembly seats in Assam is scheduled for April 9, while the votes will be counted on May 4.

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Delhi Palam fire leaves 6 dead, massive rescue operation underway

Six people died after a fire broke out in a residential building in Delhi’s Palam. Firefighters continue rescue efforts with 30 tenders at the spot.

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A tragic fire incident in southwest Delhi’s Palam area on Wednesday morning claimed the lives of six people, triggering a large-scale emergency response.

According to officials, the blaze erupted in a residential building, prompting immediate action from fire and police authorities. Around 30 fire tenders were rushed to the spot to control the flames and carry out rescue operations.

Authorities said they received a distress call at approximately 7 am reporting the fire at a house within the building. Firefighters were deployed swiftly amid concerns that several residents could be trapped inside the structure.

A fire services official stated that initial information suggested people might still be inside, leading to an intensive search and rescue effort. Emergency teams, including police personnel, reached the congested locality to assist in evacuation and crowd management.

The firefighting operation was still ongoing at the time of reporting. The exact cause of the fire has not yet been determined, and further details are awaited as authorities continue their investigation.

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