Page 1805 - Economy & Policy News
Lockdown-hit corn starch makers find silver lining in downstream pharma
Although pharma accounts for 10-15% of corn starch supplies, manufacturers are looking to partly make up for loss in production, as offtake has received some support from the crash in input corn price
 "Lockdown-hit corn starch makers find silver lining in downstream pharma")
Goyal expects better exports performance in May, contraction to be lower
There was a huge decline in exports in April but "my sense is that in May, it will improve significantly", he said while speaking at CII's Export Summit
 "Goyal expects better exports performance in May, contraction to be lower")
Coal supply by Coal India to power sector dips 22% to 32 MT in April
The PSU removed 114.43 million cubic metres of overburden in its open cast mines in April 2020, as compared to 104.22 million cubic metres a year ago, registering an increase of 9.7 per cent
 "Coal supply by Coal India to power sector dips 22% to 32 MT in April")
Rs 3-trn relief package for MSMEs to offer pre-approved loans, details out
The loan will be extended in the form of additional working capital term loan facility in case of banks and additional termloan facility in case of NBFCs to eligible MSMEs/ business enterprises
 "Rs 3-trn relief package for MSMEs to offer pre-approved loans, details out")
At home in a coronavirus world: IT companies manage change and disruption
India's biggest IT firms moved swiftly when a lockdown became imminent in March. How prepared are they to deal with the challenge of clients reducing spending on technology or asking for discounts?
 "At home in a coronavirus world: IT companies manage change and disruption")
Export body asks Mamata's intervention for early resumption of border trade
The letter said that if there is no improvement on the ground immediately, many exporters will have to shut their offices and become bankrupt
 "Export body asks Mamata's intervention for early resumption of border trade")
PM Modi reviews power sector, says state-specific solutions needed
During the review, policy initiatives including revised tariff policy and the Electricity (Amendment) Bill 2020 to redress the problems afflicting the power sector were also discussed
 "PM Modi reviews power sector, says state-specific solutions needed")
After Fitch and CRISIL, S&P projects Indian economy to contract 5% in FY21
New cases have been averaging more than 6,000 a day over the past week as authorities begin easing stringent lockdown restrictions gradually to prevent economic costs from blowing out further
 "After Fitch and CRISIL, S&P projects Indian economy to contract 5% in FY21")
Top 10 biz headlines: Boeing cuts 12,000 jobs, SBI slashes FD rate and more
Here are the top 10 headlines on Thursday morning
 "Top 10 biz headlines: Boeing cuts 12,000 jobs, SBI slashes FD rate and more")
Anti-dumping duty likely on rubber imported from China, 3 other countries
Apcotex Industries Ltd has alleged that dumping of the product from these countries are impacting the domestic industry
 "Anti-dumping duty likely on rubber imported from China, 3 other countries")
Covid-19 crisis: Govt wants PSUs to ramp up dividends, share buybacks
With Covid-19 set to hit FY21 revenue mop-up, Centre looks for options
 "Covid-19 crisis: Govt wants PSUs to ramp up dividends, share buybacks")
India can tide over worst recession, but govt must be careful: Experts
Montek Singh, D Subbarao were participating in a webinar hosted by Bhavan's SP Jain Institute of Management Research
 "India can tide over worst recession, but govt must be careful: Experts")
UCO Bank slashes lending rate by 40 basis points, MSME loans to get cheaper
The government expects banks to reduce lending rates, which is required to kick start the economy hit hard by the coronavirus-forced lockdown, among other factors
 "UCO Bank slashes lending rate by 40 basis points, MSME loans to get cheaper")
Telangana govt to pay 50% salary to staff for third consecutive month
The government noted that the relaxations extended to sectors like the transport and the stamps and registrations from the lockdown restrictions had not made any substantial difference
 "Telangana govt to pay 50% salary to staff for third consecutive month")
Labour pains: Thane's MSMEs operating at 10-15% capacity amid lockdown
The third of a five-part series looks at how lack of manpower and cash flow issues have put small units in dire straits despite govt announcing a Rs 3-trn package
 "Labour pains: Thane's MSMEs operating at 10-15% capacity amid lockdown")
Lockdown impact: NHAI to extend contract for private highway developers
25% average toll collection loss to get one-day extension
 "Lockdown impact: NHAI to extend contract for private highway developers")
Punjab approves reforms to avail additional borrowing of 1.5% of GSDP
The additional borrowing would help state tide over the estimated 30 per cent revenue shortfall in 2020-21 fiscal
 "Punjab approves reforms to avail additional borrowing of 1.5% of GSDP")
India's Q1 GDP may contract 40%, states to lose Rs 30 trillion: Report
For FY21, the SBI Ecowrap report has projected a 6.8 per cent contraction in the country's real GDP
 "India's Q1 GDP may contract 40%, states to lose Rs 30 trillion: Report")
Indian economy may expand by around 5% in FY22: Ex-RBI governor Subbarao
According to Subbarao, the country is going to face its worst recession in the current financial year
 "Indian economy may expand by around 5% in FY22: Ex-RBI governor Subbarao")
1 in 10 Indian jobseekers lost job, most think layoff imminent: Survey
Jobseekers from the IT, pharma, medical or healthcare and BFSI industries were less impacted by layoffs and salary cuts as compared to their counterparts from other industries.