Page 1836 - Economy & Policy News

Govt package only worth Rs 3.22 trn and 1.6% of GDP, not Rs 20 trn: Cong

Congress' senior spokesperson Anand Sharma Sharma said Prime Minister Narendra Modi must "walk the talk" and announce the measures required by giving money in the hands of the poor

Govt to privatise non-strategic PSUs, suspend new bankruptcy filings

Sitharaman also raised the allocation for the employment guarantee scheme by Rs 40,000 crore over and above the Rs 61,000 crore budgeted for MGNREGS

Fifth tranche of economic package: 7 measures announced by FM today

The fifth and last set of measures focuses on MGNREGA, health and education (rural and urban), businesses, decriminalisation of Companies Act, etc

Tea companies increasingly opting for loan moratorium to improve cash flows

Usually, during May-July, tea companies need a higher cash flow to ready the bushes for the second flush. This harvest is the most important in Assam and the second-most important in West Bengal

Covid-19: Why labour law relaxations will need to undergo judicial scrutiny

Geetika Srivastava checks out whether the recent labour law relaxations announced by several states pass the legal smell test

Centre to free up inter-state agri commodity trade without touching APMCs

For this, the govt will use Entry 42 of the Union list, along with Entry 33 of the Concurrent List, to frame a legislation

Rail minister doing politics over issue of trains for migrants: Baghel

Goyal had reportedly challenged Baghel to prove that the Centre did not approve the trains after receiving request from both the sending and receiving states

1.2 mn EPFO members withdrew Rs 3,360 cr of savings during lockdown: FM

The EPFO, under the Union labour and employment ministry, has settled a total of 1.2 million claims under the Pradhan Mantri Garib Kalyan Yojana package

PSUs in non-strategic sectors to be privatised, says FM Sitharaman

In strategic sectors, at least one enterprise will remain in the public sector but private sector will also be allowed

Economic stimulus includes Rs 8 trillion liquidity measures by RBI: FM

The stimulus totals to Rs 20.97 trillion, she said, adding this also comprises the Rs 1.92 trillion package of free foodgrain and cooking gas to poor

Covid-19 stimulus: Centre allows states to borrow up to 5% of their GSDP

Revenue deficit grants of Rs 12,390 crore were given to states on time in April and May despite the Centre's stressed resources, FM Sitharaman said

Non-strategic PSUs to be privatised; MGNREGS to get additional Rs 40,000 cr

Borrowing limit of states has been raised from 3 per cent of Gross State Domestic Product to 5 per cent in 2020-21, the finance minister said

No fresh insolvency to be initiated for 1 year under IBC: FM Sitharaman

Minimum threshold to initiative insolvency proceeding has been raised to Rs 1 crore from Rs 100,000 to benefit MSMEs

FM gives reforms pill for ailing economy with privatisation, policy tweaks

In the latest announcement, the government's focus was on structural reform in sectors such as coal, minerals, aviation, defence, aerospace, power, and social infrastructure

Govt ends monopoly over coal; opens mining sector to private players

Joint auctions of bauxite and coal blocks expected to reduce dependence on imports

Power distribution business to be privatised in Union Territories

Union Territories directly come under the central government. Hence, the path to privatisation is easier

Social infra: Viability gap funding boost may help create 45k hospital beds

Hospitals are a key part of social infrastructure now with the coronavirus pandemic raging across the country.

Launch pad: Centre opens up space sector for private players to grow

Private players would be allowed to use the Indian Space Research Organisation's (ISRO) facilities to improve their competencies

Untangling regulations: Defence on Make in India drive; FDI cap hiked

Measures include negative import list, corporatisation of ordnance factories

Kerala to cut spending to address coronavirus crisis: Thomas Isaac

The state government has set up a committee headed by Sunil Mani, director of the Centre For Development Studies, to assess the fiscal situation, and has sought a report in a month's time