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Hindustan Times
3 days ago
- Business
- Hindustan Times
Cash-strapped Himachal to raise loan of ₹1,000 cr for development
The cash-strapped Himachal Pradesh government will take loan by selling government stock (securities) of ₹1,000 crore for carrying out development works of the state. The cash-strapped Himachal Pradesh government will take loan by selling government stock (securities) of ₹ 1,000 crore for carrying out development works of the state. (Representational image) The Himachal Pradesh government has started the process of taking a loan of ₹1,000 crore by issuing a new notification. This loan is being taken by the state government for 22 years and it will be issued in the form of government securities. The state government has a debt of ₹1.03 lakh crore, though the Sukhvinder Singh Sukhu-led Congress government in the state has been blaming Bharatiya Janata Party for fiscal mismanagement and pushing the state into debt trap. The committed liability of the government on payment of salary and DA to employees and the pensioners was about ₹30,000 crore per annum and 13% pending DA instalments and arrears of revised pay scales are yet to be cleared. This government stock will be sold in auction through the Reserve Bank of India (RBI) on July 29. The auction will be held through the E-Kuber electronic platform at the RBI office in Mumbai. The auction will be held between 10.30 am and 11.30 am. The state government has also obtained formal permission from the central government for this loan. It has been clarified in the notification that this amount will be spent on various development schemes going on in the state. The successful bidders participating in the auction will make the payment on 30 July 2025. The term of the stock will also start from the same day, which will be completed on July 30, 2047. That is, the government will repay this loan in 22 years. The interest rate to be received on this stock will be decided during the auction, which is called the 'cut-off yield'. Interest will be paid twice a year — on January 30 and July 30. Banks investing in government stock will be able to count it in their statutory liquidity ratio (SLR). Also, this stock will be valid for forward and repo transactions. This notification has been issued by the Principal Secretary of the Finance Department, Devesh Kumar, on July 24, 2025. Loan of about ₹2,500 crores taken in five months Earlier, in the month of April also, the government had taken a loan of ₹900 crore. At the same time, before the end of the financial year, in March also, loans were taken twice, ₹337 crores and the second time ₹322 crores. It is worth noting that till March 31, 2023, the state had a debt of ₹76,185 crore. But after that the current government has taken a loan of more than ₹30,000 crore till now.
News18
22-07-2025
- Politics
- News18
Himachal Cabinet to review decision to postpone reservation roster for ULB polls
Last Updated: Shimla, Jul 22 (PTI) The Himachal Pradesh Cabinet will review its decision to postpone the reservation roster for the urban local body (ULB) elections in its meeting scheduled to be held on July 24, a senior official said on Tuesday. Himachal Pradesh Principal Secretary of Urban Development, Devesh Kumar, also informed the State Election Commission (SEC) that only the state Cabinet can revoke or modify its June 28 decision. 'The department shall place the matter in the next Cabinet meeting to be held on July 24. Therefore, it is requested that any further action regarding ULB elections may be postponed till a decision is taken by the Cabinet," Kumar said in the letter to the SEC secretary. The SEC, on July 10, took strong exception to the Urban Local Body (ULB) Department's letter to all deputy commissioners, seeking the postponement of the election reservation roster for the ULB elections due to the non-availability of updated census data. The commission, in a letter to the state's chief secretary, asserted that the ULB Department has no authority to alter the schedule issued by the SEC, which is a constitutional body, and asked the government to immediately withdraw the directions. The elections to all municipal bodies in the state except Shimla Municipal Corporation are scheduled to be held in seven municipal corporations, 29 municipal councils and 37 nagar panchayats. Elections are also to be held in more than 3,600 panchayats. For the municipal elections, the Election Commission released the schedule for deciding the ward division, delimitation, reservation roster of all the wards two months ago which lapsed on July 11 and to provide complete information of the reserved wards to the Election Commission by July 15. Principal Urban Development had asked all ten DCs of non Tribal districts in the state asked to postpone the reservation process for ULBs due non-availability and absence of actual updated demographic data of electors of Scheduled Castes (SC), Scheduled Tribes (ST) and Other Backward Classes (OBC) communities and due to delayed national Census, the implementation/finalization of the reservation roster for the ULBs elections shall be postponed until the latest Census data becomes available. As such, the Census 2011 data remains the relevant and legitimate basis for the reservation of seats in the upcoming ULB elections, as it is the last published census data available, the SEC said and directed that the ULB Department' letter be withdrawn immediately. PTI BPL RHL view comments First Published: July 22, 2025, 20:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India.com
28-05-2025
- Business
- India.com
Meet Devesh Kumar, whose once decision took his salary from Rs 5.5 LPA to 45 lakh due to..., he works as....
For corporate employees, the months of April, May, and June are especially crucial. Many are busy filling out their KRAs (Key Result Areas) and eagerly awaiting promotions, designation changes, or a 30-40% salary hike. On the other hand, another common route to a significant salary increase is switching companies, where it's not uncommon to see a 60-70% raise, or even 100% in lucky cases. But what if we tell you where one Job switch has caused a 700% hike. Don't believe us! Read the story below.. A young tech professional from Delhi set social media abuzz after sharing his incredible journey: from starting out at Rs 5.5 lakh per annum with IBM just a year ago to now landing a Rs 45 lakh package. Sharing a post on X(previously Twitter), the man wrote, 'Never mentioned it but tbh, I still sometimes think I am still in a dream, bcoz I started my full time career last year at IBM with just a CTC of 5.5 LPA, and now having an offer of over 45 LPA CTC in hand within an year, for a middle class guy like me, it's still a dream❤️.' The user, identified as Devesh through his social media handle, described this remarkable achievement as 'still a dream.' The viral post has left the netizens in shock and amazement. The post was posted on May 27, 2025. Devesh's comment section is now flooded with congratulatory messages, a million questions, and words of admiration from people eager to know more about his journey. A user wrote, 'in an span of 1 year how does that feel ?' Devesh replied, 'Proud of myself.' Later in the post, Devesh emphasized that early-career professionals should prioritize gaining experience over chasing high salaries. 'In starting of your career, prioritize job over money. If you are not getting good package, just enter with low and work so hard that you take a massive jump,' he wrote. Never mentioned it but tbh, I still sometimes think I am still in a dream, bcoz I started my full time career last year at IBM with just a CTC of 5.5 LPA, and now having an offer of over 45 LPA CTC in hand within an year, for a middle class guy like me, it's still a dream❤️. — Devesh (@theywayshhh) May 26, 2025 Devesh also responded to skepticism about the scale of his salary jump. He wrote, 'Those people who have a doubt like how is it possible to directly jump from CTC like Rs 5–6 LPA to Rs 45 LPA the MAANG or FAANG companies have their base pay and CTC preset. So it's similar for everyone. They won't judge you on your previous pays.' According to his LinkedIn profile, Devesh Kumar studied at Netaji Subhas Institute of Technology, where he earned a Bachelor of Technology (BTech) degree in Electronics and Communication Engineering (ECE). He worked at IBM as an application developer in March 2024.
Hindustan Times
28-05-2025
- Business
- Hindustan Times
RERA office being shifted to Dharamshala: HP govt in HC affidavit
The state government on Monday told the Himachal Pradesh high court through an affidavit that the Real Estate Regulatory Authority (RERA) office was being shifted to Dharamshala to congest Shimla, and it needed time to complete the formalities. The affidavit was submitted by principal secretary (housing) Devesh Kumar to the division bench of chief justice GS Sandhawalia and justice Ranjan Sharma during resumed hearing of a petition challenging a six-month extension granted to chief secretary Prabodh Saxena, filed by one Atul Sharma. The court had questioned the government on the delay in appointments of the RERA chairperson and two members. The case will now be heard on June 20. HC issues notice to CS Saxena The high court issued notice to Saxena. The petitioner contended that the extension was given in violation of the Central Services Rules and guidelines of department of personnel and training (DoPT). The petitioner argued that vigilance clearance can't be granted to an officer who is nominated in a corruption case. The petition pointed out that a chargesheet had been filed before Saxena was granted the extension, Saxena was chargesheeted in the infamous INX Media scam, in which then Union finance minister P Chidambaram and his son Karti are also named as accused. Saxena served as the director of the Department of Economic Affairs (DEA) between April 2008 and July 2010. Saxena was considered frontrunner for the RERA chairperson post, but the selection committee, headed by the high court chief justice, had raised objection to his candidature.
