Top biz headlines: Exports fall at fastest pace, IMF concerns, and more

Business Standard brings to you the top headlines of the day

The govt, faced with the conflict between checking the pandemic and preventing the economy from skidding, has allowed business activities in a restricted manner. Meanwhile, IMF urged India to spend to tackle the Covid-19 impact. Here are the events which made it to the business headlines today:

Exports fall at fastest pace in 25 years in March amid Covid-19 outbreak

India’s exports contracted by 34.5 per cent in March, the steepest monthly fall in at least 25 years, as overseas demand remained lacklustre due to the coronavirus pandemic. Read more here

Lockdown 2.0: Economy gets a look-in; some relief for farming, industry

The Union government, faced with the conflict between checking the pandemic and preventing the economy from skidding, has allowed business activities in a restricted manner. This has been done primarily with the intention of “rural and agricultural development and job creation”. Read more here

Manufacturers reach out to govt for clarity, tweaks in lockdown norms

Large manufacturing companies have approached the central government, seeking clarification and relaxation of some rules in the new guidelines issued on Wednesday by the Ministry of Home Affairs, even as they decide when or if at all to open their units after April 20. Read more here 

Lockdown 2.0 guidelines: India Inc buckles up to deliver after reboot bid

Makers of fast-moving consumer goods (FMCG) such as Dabur, ITC, and Parle Products say the detailed guidelines issued on Wednesday by the Ministry of Home Affairs will ease supply chain concerns that have marred production over the past few weeks. Read more here

'Normal' monsoon forecast by IMD brings relief from coronavirus heat

Amid the gloom surrounding the coronavirus disease (Covid-19) pandemic and its after-effects, there was some good news on the weather front. India’s southwest monsoon this year is expected to be ‘normal’ at 100 per cent of the long period average (LPA), the India Metrological Department (IMD) said in its first-stage forecast for the season. Read more here

April 20 plan: Govt to meet with lenders on revival of economic activity

The government is set to hold a meeting with chief executives of public sector banks and other lending institutions on Thursday to draw an action plan to offer financial support to economic activities that will restart on April 20. Read more here

Covid-19: India must ease fiscal stance amid health emergency, says IMF

The International Monetary Fund (IMF) on Wednesday urged India to keep its fiscal deficit concerns aside and spend to tackle the Covid-19 impact. This will serve to arrest the economic slowdown, even though the fiscal space of the country remains limited, according to the IMF. Read more here

Services exports growth flattens at sub-7% in Feb amid coronavirus crisis

Growth in services exports almost stagnated by standing at 6.88 per cent in February. In January, export growth stood at 6.99 per cent. The exports stood at $ 17.73 billion in February. Read more here
 

Post April 20, focus is on return of young workforce: Labour Ministry

The labour ministry may soon issue guidelines to factories on procedures for workers when industrial activity resumes after April 20, the Economic Times reported.
 

Pandemic derails multiplex industry’s expansion plans

Since the lockdown due to coronavirus, the closure of cinema halls and suspension of film production have put India’s multiplex industry under severe stress, the Livemint reported.