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Lok Sabha passes bill to cut salaries of MPs by 30 per cent

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NEW DELHI:

Lok Sabha

on Tuesday passed a bill to reduce for one year the salaries of MPs by 30 per cent “to meet the exigencies arising out of Covid-19

pandemic

“. The Salary, Allowances and Pension of

Members

of

Parliament

(

Amendment

) Bill, 2020 was introduced in

the Lower House

on Monday.

It will replace the Salary, Allowances And Pension of Members of Parliament (Amendment) Ordinance, 2020.

The ordinance was cleared by the

Cabinet

on April 6 and promulgated the next day.

The Times of India is an Indian English-language daily newspaper owned by The Times Group. It is the third-largest newspaper in India by circulation and largest selling English-language daily in the world. according to Audit Bureau of Circulations.

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INDIA

India to support Sri Lanka boost its defence, security

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NEW DELHI: Kicking off the first virtual bilateral summit in the neighbourhood, India and Sri Lanka sought to advance defence and security cooperation, while India promised to consider Colombo’s request for delayed debt repayment and a $1 billion currency swap arrangement.

PM Modi met his Lankan counterpart Mahinda Rajapaksa virtually on Saturday morning. According to an official readout of the summit by MEA joint secretary (Indian Ocean Region) Amit Narang, PM Modi emphasised that implementation of the 13th amendment to the Sri Lankan Constitution is essential for carrying forward the process of peace and reconciliation.

“PM Modi called on the new government in Sri Lanka to work towards realising the expectations of Tamils for equality, justice, peace and dignity within a united Sri Lanka by achieving reconciliation nurtured by implementation of the constitutional provisions,” he said.

Narang added India’s focus areas with Sri Lanka are defence and security, Buddhism and economic development. “The outcomes of the Summit are substantial, forward looking and also help to set an ambitious agenda for bilateral ties,” he said.

“Under neighbourhood first policy and SAGAR Doctrine, we will give priority to Sri Lanka,” Modi told his counterpart in his opening remarks. Sri Lanka has requested for a $1 billion currency swap arrangement with India (India had, earlier this year, done a $400 million swap) and a delayed debt repayment schedule. India agreed to support Sri Lanka in defence and security, “strengthen the mutual cooperation on personnel exchange and training, maritime security cooperation.” Indian Coast Guard and Indian Navy recently helped to douse a major fire on a tanker MT Diamond off the Lankan coast.

However, there was no word on whether the Eastern Container Terminal (ECT) deal, which Rajapaksa had promised to review, would go to India and Japan as originally agreed. There was also no meeting point on the impasse regarding the Trincomalee container terminals, which has been hanging fire. Questioned, Narang stuck to generalities about the discussions being “positive and constructive.”

Modi also announced a grant assistance of $15 million for the promotion of Buddhist ties between the two countries. Rajapaksa invited Modi to inaugurate the Jaffa Cultural Centre, set up with Indian assistance. Narang indicated that India shared its assessments of the Ladakh crisis with the Lankan leadership.

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INDIA

Socio-economic cost of a road death Rs 91L, Rs 3.6L for those grievously injured

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NEW DELHI: The average socio-economic impact or cost of every person dying in a road crash was around Rs 91 lakh and it’s close to Rs 3.6 lakh in the case of each victim left with grievous injuries during 2018, a study commissioned by the road transport and highways ministry has found.

Going by the government’s report on fatalities and injuries, it has estimated the total impact at Rs 1.47 lakh crore during 2018 when 1.51 lakh people were killed and 4.69 lakh were left with grievous and minor injuries. However, considering that there is under reporting of fatalities and injuries, the study has also projected loss to the tune of Rs 5.9 lakh crore, which is 3.1% of the GDP.

The study was carried out by the TRIPP of IIT(Delhi) and DIMTS, which has come out with three different estimates of the socio-economic impact under three scenarios. The third estimate is based on the Global Burden of Disease (GDB) Study and the impact has been estimated close to Rs 8.63 lakh crore.

This is the second such study after 1999 to quantify the total economic loss due to road crashes, fatalities and injuries. Such studies are carried out across the world frequently to prepare strategies to see how with less investment in creating safe infrastructure and enforcement rules, huge cost in terms of lives and the socio-economic loss can be prevented. The report is yet to be made public and the ministry is going through the report.

Sources said the estimates have been calculated taking into account medical expenses, loss of income which is also known as lost output cost, pain, grief and suffering, damage to vehicle, public asset and administrative costs. The total impact in financial terms has been arrived at using the human capital approach method, which uses the present value of expected future earnings to estimate the potential loss to society, if an individual dies or becomes permanently disabled. It has also taken into account other studies across the globe and also in India.

TOI has learnt that major share in the socio economic impact of fatalities in road crashes is on account of lost output cost, which is nearly Rs 74 lakh per person while in the case of grievous injuries more than 50% of the share of the cost is towards medical expenses.

The report has also highlighted how the share of victim-related costs is about 98% of the total cost of road crashes and 70% of the entire accident cost is towards victims in the age group of 18-45 years.

Sources said the study was done after collecting primary data from police stations across 14 cities and 53 hospitals spread across 20 cities.

It has also revealed that 78% of the cost of all accident victims is towards two-wheeler drivers and pedestrians, who are most vulnerable and need attention of the government to improve enforcement of laws, improving infrastructure and healthcare services.

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INDIA

Govt will need 80,000 crore for Covid vaccine, says Serum CEO

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MUMBAI: The government may need Rs 80,000 crore over the next one year for distribution of Covid-19 vaccine and immunization of the country’s population, Adar Poonawalla, CEO and promoter of the world’s largest vaccine producer, Serum Institute, said on Saturday.

Calling it the “next concerning challenge”, which needs to be tackled, Poonawalla posted a tweet tagging the Prime Minister’s Office, which read: “We need to plan and guide vaccine manufacturers both in India and overseas to service the needs of our country in terms of procurement and distribution.”

Serum has tie ups with global manufacturers AstraZeneca and Novavax for potential Covid-19 vaccines, which are currently undergoing clinical trials. The tweet, perceived by many as alarming, also raised concerns over the government’s ability to fund the massive vaccine programme.

“The government has assured that there will be plenty of funds available for vaccines. We have now been assured by the highest levels in the government that enough funds will be available for vaccine procurement, supply and logistics. This is good news,” Poonawalla told TOI, when contacted.

While addressing the United Nations General Assembly on Saturday PM Modi said that as the world’s largest vaccine producing country, India’s vaccine production and delivery capacity will be used to help people across the world.

Although further details on Poonawala’s calculations were not immediately available, sources said, it could be assuming the benchmark price of $3-5 per dose, and including two doses for the over 1.3 billion population.

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