Top headlines: 15-day curfew in Maha from April 14; Monsoon to be normal

From 15-day curfew in Maharashtra starting April 14 to govt clearing FCI's liabilities to National Small Savings Fund, here are top headlines this morning

15-day curfew in Maharashtra from April 14; essential services exempted

Maharashtra Chief Minister Uddhav Thackeray on Tuesday announced 15-day curfew in the state and sought central help in airlifting medical oxygen as Covid-19 cases continue to spike in the state, putting a burden on its health infrastructure. Public transport will continue but travel in suburban trains and buses will be only for people giving essential services. The tightening of curbs comes into effect on Wednesday night. Read More

Clean slate: Govt clears FCI's liabilities to National Small Savings Fund

The Union government has cleared the unsecured debt Food Corporation of India (FCI) owes the National Small Savings Fund (NSSF), ending a process that began in 2017. The government made the cash infusion before the financial year 2020-21 ended, letting FCI begin FY22 on a clean slate in terms of unsecured loans. Now FCI will have the usual working capital loans through bonds, ways and means advances, and short-term loans on its books. Read More

Bharti Airtel to leverage existing 4G network assets to offer 5G service

Bharti Airtel has decided to leverage its existing 4G network assets to offer 5G network technology. The firm expects to launch commercial services across the country within four to five months of getting spectrum. It expects the auctions to happen sometime at the end of this year or early next year. Non-standalone (NSA) 5G is the first or interim stage in the evolution of 5G technology which enables telcos to use their existing 4G core — the nerve centre which controls a network. Read More

India fast-tracks emergency use of foreign-made Covid-19 vaccines

In a significant move, the Union government on Tuesday allowed emergency use of foreign Covid-19 vaccines through a fast-track route, striking off the need for a prior local trial. In line with the recommendations of the National Expert Group on Vaccine Administration for COVID-19 (NEGVAC), vaccines which have been developed and are being manufactured in foreign countries, with approval from health regulators in the US, UK, European Union and Japan, would now be permitted for emergency use in India. Those in the World Health Organisation (WHO) emergency use list will also be allowed. Read More

Monsoon likely be normal this year in India, marking a hat-trick: Skymet

India is likely to get normal southwest monsoon rains this year, private weather forecasting agency Skymet said on Tuesday, raising prospects of bumper farm growth in the country. Monsoon rains are expected to be 103 per cent of long-period average (LPA) of 880.6 millimetres (mm) for the four-month period from June to September. The forecast is with an error margin of plus/minus 5 per cent of LPA. Read More

Central govt's indirect tax collection up 12% in FY21, GST number falls

The Centre’s indirect tax collection rose by more than 12 per cent to Rs 10.71 trillion in 2020-21 (FY21) compared to Rs 9.54 trillion in the previous year, even as goods and services tax (GST) mop-up declined by 8 per cent. Experts attributed it to the hikes in customs duties as well as petrol and diesel taxes, coupled with some recovery in consumption during the second half. Read More

April likely to be a washout for appliances as fresh Covid-19 curbs hit biz

April is turning out to be a challenge for appliances makers as curbs to curtail the spread of Covid-19 is hurting business badly. April is a crucial month in the annual calendar of appliances majors, since it kicks off their summer season sales. It contributes close to 15 per cent of sales in the June quarter. Read More

Valuation concern clouds TCS' Q4 performance; stock falls over 4%

Tata Consultancy Services’ (TCS’) strong March quarter (Q4) performance failed to impress Dalal Street and the stock tanked over 5 per cent to hit an intra-day low of Rs 3,074.55 apiece on the BSE Sensex on Tuesday. It recouped some of the losses to end the day down 4.21 per cent at Rs 3,105, but was the worst-performing Sensex stock. Read More