
CM Stalin inaugurates India's first exclusive Tuna fishing harbour in Chennai
CHENNAI: Chief Minister M K Stalin on Wednesday reiterated his party's demand on retrieving Katchatheevu from Sri Lanka to put an end to the ordeals faced by Tamil Nadu fishermen. He said this after inaugurating an exclusive fishing harbour for Tuna fishing constructed at a cost of Rs 272.70 crore at Tiruvottiyur here.
A release said this is the first such exclusive harbour for Tuna fishing in the country. The facilities available will help fishermen returning with tuna from deep sea to swiftly sell the catch to exporters without impacting the quality.
It said around 6,250 people involved in fishing and related jobs in 12 fishing villages will benefit from the fishing harbour, which has the capacity to handle 70,000 tonnes of fish every year.
He also inaugurated 12 other projects completed by the fisheries department across the state through video conference. These projects were implemented at a total cost of Rs 426.13 crore.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


New Indian Express
12 minutes ago
- New Indian Express
RBI opens happy hour window, borrowers can pack themselves a picnic basket
It's a big week for interest rates with the RBI trailblazing a rate cut bonanza on Friday. The benchmark repo rate is reduced by a larger-than-expected 50 bps with immediate effect, while the cash reserve ratio (CRR) will be reduced by 100 bps in four equal tranches by November. This is the third consecutive rate cut and the benchmark repo rate now stands at a 6-year-low of 5.5%. With 100 bps rate cuts coming in quick succession, the RBI also decided to change the policy stance to accommodative from neutral. In other words, the rate cut kindness party has well and truly begun and as RBI officially opens its happy hour window keeping the path for rates downwards, analysts expect the repo rate to settle at 5%-5.25% or even lower this fiscal. It also means, borrowers can pack themselves a picnic basket as interest rates on fresh home loans are set to fall lower than 7.5% over the coming weeks. India Inc too can spread a thick layer of jam and kickstart the much-awaited capex cycle. It's true that money is important to revive credit growth, but perhaps Governor Sanjay Malhotra believes that a lot of money is important. So he crushed the CRR, or the money banks need to set aside as liquid cash, to 3% from 4%, releasing primary liquidity of as much as Rs 2.5 lakh crore. This is expected to do multiple things at once. It'll reduce the cost of funding, improve monetary policy transmission, provide cheap credit to industry and above all stimulate consumption and investment. In short, RBI has finally emerged victorious seizing the inflation monster by the throat and has now turned its single-minded focus towards growth, though Malhotra reasoned that he wasn't favouring one over the other. Few expected RBI to brake this harder on policy rate cuts. While SBI Research was an outlier giving out a rare prediction of 50 bps reduction to revive the credit cycle and stimulate growth, others argued that a super sized rate cut may be seen as a underlying symbol of tough times and set off inflationary expectations, which are harder to manage than inflation itself. But Malhotra stressed that inflation expectations have moderated and will continue to moderate. And putting a cherry on the picnic cake, he revised FY26 inflation forecasts downwards to 3.7% from 4% projected in April. Q1 estimates are pegged at 2.9% lower than 3.6% estimated earlier, followed by Q2 at 3.4% (3.9% earlier), Q3 at 3.9% (from 3.8%) and Q4 at 4.4%. While the inflation monster has retreated back to the barn, RBI is well aware that the devil can be a liar. Moreover, as Malhotra noted, globally the last mile of disinflation is getting a little more protracted and so central banks remain extremely cautious. Back home though, we are witnessing broad-based moderation in price rise and the above normal-monsoon is expected to rein in food price pressures in the coming quarters. As for growth, although consensus estimates project India's FY26 real GDP at about 6.2%, RBI retained its previous forecast of 6.5%. But given the potential downside risks from geopolitical tensions and trade policy uncertainties, it revised the quarterly growth projections with Q1 set at 6.5%, Q2 at 6.7%, Q3 at 6.6% and Q4 at 6.3%. Meanwhile, transmission remains uneven with big banks like SBI yet to pass on the February and April rate cuts to borrowers. Analysts expect the rate transmission to gain momentum and with Friday's cut, home loan rates are expected to fall below 7.5%. External economic pressures like trade policies and others would require continued RBI's accommodative stance and policy support for the Indian industry to sustain the growth. Besides, subdued manufacturing growth, uneven consumption demand, a delayed recovery in private capital expenditure and weak exports need attention.


United News of India
14 minutes ago
- United News of India
Haryana minister Vij hears complaints of residents
Ambala, Jun 6 (UNI) Haryana's Energy, Transport and Labour Minister Anil Vij redressed the grievances of residents from the Ambala Cantonment assembly constituency at his residence at Ambala Cantt and issued instructions to officials for necessary action. During the minister's interaction, a vendor employed by a catering contractor at Ambala Cantt railway station alleged he was not being paid the minimum wage, and was also denied benefits such as ESI and EPF. Despite having raised the issue earlier, no action had been taken. Taking serious note of this, Vij reprimanded the labour inspector present on the occasion. 'Labour officers must take workers' issues seriously. Strict action should be taken against the contractor in this matter,' Vij told officials. A retired Army Colonel informed the minister that he had bought a plot in Defence Colony, but the dealer was refusing to register the property. Vij directed the Panjokhra police station to take action in this case. Similarly, a Junior Warrant Officer from the Air Force complained that although he owns a plot in Boh, a nearby dairy operator was dumping cow dung in front of it, causing a constant stench in the area. Vij instructed civic body officials to address the issue. A woman from Defence Colony, Ambala informed Vij that she had sold her plot to a dealer for Rs 6.5 lakh, but the dealer paid her only Rs 4.5 lakhs, withholding the remaining Rs 2 lakh. Vij directed the police to take appropriate action. UNI GS XC PRS


Hans India
15 minutes ago
- Hans India
Hyderabad: Duo Arrested for Alleged Fraud at Private Firm
Nacharam police detained two employees of a Mallapur-based private company scam on charges of defrauding their employer and misappropriating Rs 2.1 crore. The operations manager MNS Bhushan Reddy and accountant D Srinivas from Neon Metal Crafts supposedly violated company regulations by forming Adinath Industries. Police reports show that the two individuals created corporate cheating Hyderabad sales invoices and work documents under their employer's name and transferred roughly Rs 35 lakhs illegally from Neon Metal Crafts' bank account to an Adinath Industries account online. The two arrested in fraud misappropriated about Rs 2.1 crore through fraudulent work orders. The Nacharam police initiated a case investigation and apprehended the suspects after receiving a complaint from the company owner. Over 4,000 people duped Through the Falcon Invoice Discounting Application platform the accused managed to collect Rs 4,215 crore from 7,056 depositors. By presenting fraudulent investment deals as opportunities from well-known multinational firms the accused managed to entice investors with promises of high returns on short-term plans. Scams involving cheating and conspiracy have resulted in a loss of Rs 792 crore for nearly 4,065 people according to initial reports. The Economic Offences Wing of Cyberabad Hyderabad police update filed charges under sections 316(2), 318(4), 61(2) of the BNS and Section 5 of the TSPDEF Act, 1999 based on the filed complaint. CID Telangana began supplementary investigations into these cases from March 6 onwards. The younger brother Sandeep escaped to Dubai soon after the scam became known. He entered India through the Nepal-India border without official permission before establishing residence with his family in Danapur, Patna.