This week felt some after effects of the budget unveiled earlier this month. The All-India Nabard Employees' Association voiced it concern over what it called as 'pernicious provisions' in the Union Budget for 2014-15. In a follow up of Budget provisions, contributions by private sector subscribers to the National Pension System (NPS) over the past five years may have become taxable in certain situations. With an aim towards making unemployed women self-reliant, the New Delhi Municipal Council launched a unit to give training to prepare quality food products and then sell it through a tiffin service.
Looking at the job market, numerous companies are looking to cut jobs as a consolidation effort across the globe. This week Microsoft announced the biggest ever job cut of 18,000 employees. BBC also plans to cut 400 jobs as part of an austerity drive. In more job related news, automation in the IT sector is leading to fewer jobs for graduates. However, recruitment in the aviation sector is on the rise due to entry of new carriers, addition of more routes by global players, mushrooming of new airports and modernisation of old carriers. On the international front, Samsung temporarily suspended business on a plant with one of its suppliers in China over the suspected use of child workers. On the Indian front, Britannia is hoping to reopen it Delhi plant soon after the employees went on strike in the first week of this month.
Various movements that happened over the week were; NIIT Ltd director Madhabi Puri Buch resigned from the company. Payback announced the appointment of Rahul Rana as its new Chief Executive Officer (CEO).Google Inc appointed former Ford Motor Co CEO Alan Mulally to its board of directors. The Board of Directors of Ahmedabad-based Excel Castronics Ltd has elected Jayesh Madiyar as their new Chairman. Upendra Kamath was appointed Tamilnad Mercantile Bank’s new MD. Zee Entertainment Enterprises Ltd (ZEEL) appointed Pradeep Hejmadi as Business Head-Zee TV. Emirates NBD appointed Sharad Agarwal as the Chief Representative and Country Head for India.Sameer Nair joined Balaji Telefilms as the new CEO.