The IIP number for the month of June 2017 came in sharply lower at -0.1% compared to 1.7% in the previous month of May 2017. A correction in the IIP was expected in the month of June due to the impact of the GST launch, although it was not expected to dip into negative territory.
In view of the challenging economic condition, Lanco Infratech approached corporate debt restructuring (CDR) cell to recast its Rs 9,000-crore debt. Of the Rs 9,000-crore debt, Rs 4,000 crore is fund-based exposure and Rs 5,000 crore non-fund-based.
Ajit Gulabchand, Chairman and Managing Director of Hindustan Construction Company (HCC), has been appointed Chairman of the Construction Skills Development Council (CSDC), the Sector Skill Council for the construction sector approved by the National Skill Development Corporation,
Skill enhancement: Availability of skilled manpower and semi-skilled manpower is becoming a bottleneck in execution of projects.Thus enhancing skills for construction sector would help the GDP growth as well. While this problem is being addressed and does not have an immediate solution, semi-skilled manpower development programmes may be included in schemes like NREGA which should encourage skill-enhancement so that over a period they would be employable by the industry.