Page 1856 - Economy & Policy News

Centre misusing disaster laws to step on states' rights, say experts

The imposition of Section 188 in the Indian Penal Code for "disobedience to order duly promulgated by public servant" during the pandemic, was also seen by many as an overreach by the Central govt

Govt mulling introduction of import substitution policy, says Gadkari

The Minister for MSME and Road Transport and Highways said a policy on import substitution is being thought of in the wake of the economic situation created by the COVID-19 pandemic.

India's unemployment rate soars to 27.11% amid Covid-19 crisis: CMIE

The Mumbai-based think tank said the rate of unemployment was the highest in the urban areas

London-Delhi flight ticket to cost Rs 50,000: Govt on evacuating Indians

On arrival from abroad, all passengers will be screened and put under quarantine for a period of 14 days as a COVID-19 precautionary measure, Aviation Minister Hardeep Singh Puri said

Lockdown impact: Dip in electricity demand hits coal-fired power generation

During 2019-20, the average Plant Load Factor (PLF) tumbled to 55.5 per cent owing to a decline in power demand and increasing traction from renewable power sources

Lockdown impact: UP to reboot export oriented units, SEZs on priority

Chief Minister Adityanath directed officials to expedite the rebooting of these industrial plants apart from industries for which permissions have been granted under lockdown 3.0

Chennai MSMEs allege bias in grant of permission to restart operations

They say they may end up losing the orders on hand to units in other belts; may not be able to pay April wages; foresee law and order problem with agitated labour

IT professionals think worse coming in next 6 months: LinkedIn survey

One in three Indians have reported a decrease in their personal incomes, says 'Workforce Confidence Index' of LinkedIn.

Andhra hikes liquor prices twice in the trot as queues expand at stores

25% hike yesterday, another 50% today, both in the form of additional retail excise tax

Covid-19 may slow India IT and business service growth to 6.5% in 2020: IDC

The IT and business services market grew by 8 per cent annually in the second half of 2019

BofA Securities pegs PSBs recap requirement at Rs 52,990 cr - Rs 113,550 cr

BofA Securities believes one way to fund the requirement is via recapitalisation bonds.

Covid-19: Jharkhand launches roadmap to restore rural economy, provide jobs

The roadmap, dovetailed with, MGNREGA Act, 2005, comprises a series of projects like Birsa Harit Gram Yojna, Neelambar Pitambar Jal Sammridhi Yojana, and Poto Ho Khel Vikas Yojana

Hand out temporary ration cards to feed the poor: Abhijit Banerjee

According to the nobel laureate, spending is the easiest way to revive the economy as MSME sector will get back to its position which will have subsequent chain reaction

Delhi raises VAT on fuel, petrol up by Rs 1.67, diesel by Rs 7.10 per litre

On Tuesday, the Delhi govt had also raised excise duty on liquor to shore up its revenues

Maharashtra govt announces measures to meet expenditures, shore up revenue

The state's finance department on Monday issued a government resolution (GR) outlining a slew of measures it has undertaken to prevent its coffers from getting depleted further

Top 10 biz headlines: Virus rattles markets, industry still in limbo & more

Here are top 10 business headlines on Tuesday morning

Covid-19: US Treasury plans to borrow record $2.9 trn in April-June qtr

This is five times what the United States borrowed at the peak of the 2008 financial crisis

India's economic growth rate may contract 16-20% in Q1, says Icra

This would mean a contraction of 1-2 per cent for entire FY21, against the agency's earlier projection of -1 per cent to 1 per cent

Curbs on transport, commerce lifted partially as West Bengal eases lockdown

Malls, shopping complexes, cinemas, parks continue to remain closed

Day 1 of lockdown 3.0: India limps back, but industry still in limbo

With public transport still not allowed in 130 red-zone districts, which comprise some of the economically important urban centres, people took out their private vehicles.