Page 241 - Latest Updates on Lockdown
BRICS' New Development Bank provides $1 bn loan to India to fight Covid-19
The Shanghai-based New Development Bank (NDB) was established by the BRICS (Brazil, Russia, India, China, South Africa) countries in 2014 and is headed by veteran Indian banker K V Kamath.
 "BRICS' New Development Bank provides $1 bn loan to India to fight Covid-19")
PM CARES allocates Rs 3,100 crore for migrants, buying ventilators
Out of the Rs 3,100 crore, nearly Rs 2,000 crore will be earmarked for the purchase of "Made in India" ventilators and Rs 1,000 crore for care of migrant labourers, it said.
 "PM CARES allocates Rs 3,100 crore for migrants, buying ventilators")
Covid-19 crisis: Jerome Powell warns of lasting harm; US stocks slump
The Dow Jones Industrial Average was down 496.84 points, or 2.09 per cent, at 23,267.94, the S&P 500 was down 52.72 points, or 1.84 per cent, at 2,817.40 (at 9:37 pm IST).
 "Covid-19 crisis: Jerome Powell warns of lasting harm; US stocks slump")
Fiscal stimulus package fails to provide succour to the poorest: Opposition
Senior Congress leader P Chidambaram said the need of the hour was to put money into the pockets of the people, particularly the poorest 130 million people
 "Fiscal stimulus package fails to provide succour to the poorest: Opposition")
Premium diners hit the brakes hard; look to reinvent for survival
There will be ongoing speed bumps and resets and at least six months before 80 per cent stability returns to dining
 "Premium diners hit the brakes hard; look to reinvent for survival")
Labour law changes in India should adhere to global standards, says ILO
'Such amendments should emanate from tripartite consultation involving the government, workers and employers'
 "Labour law changes in India should adhere to global standards, says ILO")
Govt likely to purchase gold from households without seeking the source
To use it as collateral, along with forex reserves, to print currency
 "Govt likely to purchase gold from households without seeking the source")
FM Sitharaman announces big-bang package for MSMEs to revive economy
Rs 6-trn stimulus includes Rs 3 trn of collateral-free loans; Rs 30,000-crore special liquidity scheme for NBFCs, HFCs, MFIs
 "FM Sitharaman announces big-bang package for MSMEs to revive economy")
Fake websites to emails, fraudsters see opportunities in Covid-19 crisis
Fraudsters see opportunities in these uncertain times
 "Fake websites to emails, fraudsters see opportunities in Covid-19 crisis")
Bigger reforms coming, we'll see a V-shaped recovery: CEA Subramanian
Addressing a virtual conference organized by All India Management Association (AIMA), the CEA said the economy will witness a V-shaped recovery
 "Bigger reforms coming, we'll see a V-shaped recovery: CEA Subramanian")
India to grow at 1.2% in CY20, global GDP to shrink by 3.2%, says UN
The World Economic Situation and Prospects as of mid-2020 released on Wednesday by the UN said that global gross domestic product is forecast to shrink by 3.2 per cent in 2020
 "India to grow at 1.2% in CY20, global GDP to shrink by 3.2%, says UN")
Without more stimulus, India's GDP may contract 9% in FY21: Pronab Sen
Sen said that on the face of it, the package looked good, with roughly the kind of damage that has happened to the economy
 "Without more stimulus, India's GDP may contract 9% in FY21: Pronab Sen")
Lockdown impact: Weak volumes to aggravate margin pressures for Maruti
Shift towards entry-level segment a positive given its contribution to revenues
 "Lockdown impact: Weak volumes to aggravate margin pressures for Maruti")
Coronavirus impact: Nestle Q1 an outlier as consumers focus on food
Robust portfolio, cost efficiency to keep earnings momentum strong
 "Coronavirus impact: Nestle Q1 an outlier as consumers focus on food")
FM Nirmala Sitharaman's TDS, TCS move will not ease tax burden: Experts
The move will help release liquidity worth Rs 50,000 crore, according to government estimates. Experts, however, feel that its impact will be limited as tax incidence remained the same.
 "FM Nirmala Sitharaman's TDS, TCS move will not ease tax burden: Experts")
Indices jump reined in by global risk aversion amid Covid-19 fears
The Sensex gained 638 points or 2.03% to close at 32,009, while the Nifty rose 187 points or 2.03% to close at 9,384
 "Indices jump reined in by global risk aversion amid Covid-19 fears")
FM announces Rs 90,000 cr liquidity infusion in power distribution sector
PFC, REC to extend one-time loans with riders
 "FM announces Rs 90,000 cr liquidity infusion in power distribution sector")
Banks, NBFCs may see some rally after Rs 6 trn relief package by FM
Investors may pause to see the entire scheme of funding, and impact on bonds
 "Banks, NBFCs may see some rally after Rs 6 trn relief package by FM")
Fiscal stimulus 2.0: No global firms in govt tenders below Rs 200 crore
For this purpose, the general financial rules (GFR) will be amended to disallow global tender enquiries.
 "Fiscal stimulus 2.0: No global firms in govt tenders below Rs 200 crore")
Big crises, big solutions
Most of the non-fiction I read over the past month had one thing in common, though they were otherwise very different
