Page 1811 - Economy & Policy News

Agri sector may not be hit by lockdown; likely to grow 2.5% in FY21: Crisil

The government has announced MSP hike for 14 kharif crops, assuring farmers 50-83 per cent returns on their cost of production

Covid-19: Bank NPAs may worsen to 11.6 per cent by FY21 end, says Icra

With an increase in stress on asset quality and profitability, state-owned banks may need Rs 45,000-82,500 crore of capital in this financial year under a weak credit growth scenario, it said

Global revenue from diamond sales to drop 30-40% amid Covid-19: Moody's

Rough diamond sales volume and prices will fall in 2020 as a result of the near shutdown of the global economy, Moody's Investors Service said in a report

Investments in construction sector to see 12-16% dip in FY21: Crisil report

The decline in investment factors in lower capex by central and state governments due to diversion of funds towards healthcare, public welfare and social obligations

BMS says Govt has no moral right to sell PSUs, will protest move on June 10

Trade union arm of RSS described advisors to govt as 'predatory'

Employers not paying full salary must present balance sheet in court: Govt

The MHA had passed an order on March 29 asking all employers to make payment of wages to their workers without any deduction for the period their establishments were under closure during the lockdown.

Centre paves way for licence-free purchase directly from farmers

Any buyer with a PAN can purchase from farmers; no state or central taxes on direct procurement; food items removed from EC Act

How pandemics past and present fuel the rise of mega-corporations

Certain large organisations have stepped up to the opportunities provided by Covid-19

After the lockdown: Indian economy's path ahead is riddled with potholes

While some economists believe the Indian economy would contract 5%, others say there could be a double-digit fall in FY21. A K Bhattacharya lists the challenges facing India's economic recovery

Top 10 biz headlines: Make in India boost, fall in air traffic & more

Here are the top ten headlines on Thursday morning

India's retail and SME loans to deteriorate as well, says Moody's

Moody's Investors Service has said that policymaking institutions face increasing challenges from lower growth, weaker fiscal conditions and rising financial sector stress.

Make in India boost: Samsung, Foxconn, Lava likely to apply for PLI scheme

The government will offer the scheme to five global and domestic entities.

Windfall for sugar mills as Centre allows export of alcohol-based sanitiser

Hit by the slump in sugar demand following lockdown and consequent subdued realisations, mills have run up huge farmers' outstanding pertaining to the current sugar season 2019-20

India must shed its protectionist attitude: Ex-CEA Arvind Subramanian

If we turn protectionist, I don't know how can we be an exporting power. Self-sufficient exporting powerhouse is an oxymoron," he said.

Piyush Goyal asks property developers to cut prices to survive downturn

Unless you reduce your rates, you will be stuck with your inventory, Goyal said to developers.

Covid-19: Govt clears plan to suspend IBC for 6 months, ordinance soon

Suspension could be extended to one year and is expected to allow companies to get their business back on track without the fear of being dragged into insolvency

Empowered group of secys to expedite clearances, says Anil Swarup

"The hope is that this empowered group will use its powers to expedite clearances."

Covid-19 crisis: Cabinet forms group of secys to attract foreign investment

The two bodies also aim to make Indian products go global, help develop investible pipelines

Dismantling of labour laws will take away workers' protection, says Ex-CEA

India's January-March GDP growth sank to 3.1 per cent, a low not seen in at least 17 years

Interest waiver will impact financial viability of banks: RBI to SC

The RBI also said that the moratorium on loans, which was recently extended to August 31, is in the nature of a deferment and cannot be construed to be a waiver