At least one person was killed and around 50 labourers are feared buried under the debris of a blanket factory building that collapsed after an explosion in the burner late Sunday night in Jalandhar’s industrial area.
The building housed a textile industry, Sheetal Fibers, manufacturing high-quality blankets. According to the police, so far a labourer’s body had been recovered from the debris while around 100 labourers were trapped of which 60 had been rescued. Rescue operations were continuing to rescue the others.
Among the rescued labourers, 15 are in hospital with critical injuries. The local administration has also called in National Disaster Management teams.
***
Reserve bank might cut rates today
age CORRESPONDENT
MUMBAI, APRIL 16
The Reserve Bank of India (RBI) on Monday indicated that the balance of its monetary policy would shift to arrest the deceleration in growth momentum while keeping inflation under control.
While the RBI suggested that the rates are likely to decline going ahead, it also pointed out that the magnitude and timing would depend on the extent to which these inflation risks materialise.
“Inflation expectations moderated in Q4 of 2012-13 but remain high. With significant upside risks to inflation, monetary policy needs to keep them anchored, while shifting the balance of policy to arrest the deceleration in growth momentum,” said the RBI in its Macroec-onomic and Monetary Policy Development report released before Tuesday’s policy statement.
***
PM says centre ready to share security burden
Age Correspondent
New Delhi, April 16
Seeking the support of states opposing the Natio-nal Counter-Terrorism Ce-ntre, Prime Minister Man-mohan Singh on Monday said internal security is a matter in which the “states and the Centre must work together, hand in hand, and in harmony”. Dr Singh said “there is no question that the burden of the fight against terrorism falls largely on the states’ mach-inery. The Centre is ready to work with the states to put in place strong and effective institutional mec-hanisms to tackle this problem.”