Page 1868 - Economy & Policy News

Firms await stimulus, warn of layoffs: Ficci survey on coronavirus impact

The Covid-19 crisis has already caused an unprecedented collapse in economic activities over the last few weeks, says survey

Top 10 biz headlines: Brent crash adds to oil chaos; bank notice to malls

Here are the top 10 business headlines on Wednesday

Maharashtra govt withdraws Covid-19 lockdown relaxations for Mumbai, Pune

Over 1,300 firms have received the MIDC nod to resume operations amid the lockdown

Mango growers in UP want institutional procurement to tide over lockdown

They also seek 24-hour power supply and want corrugated box units to function, so that packing material is easily available when dussehri is ready for harvest

RBI considers standing deposit facility to manage extra liquidity

No firm decision has been reached on this, said sources. The SDF, when introduced, will become the lower bound of the corridor for the liquidity management window.

Hankering for 'non-essentials': Pyjama set, roti maker, ludo and what not

"On average, buyers had nine items in their carts and wishlist," the survey said, adding that the price of these products range anything between Rs 68 to Rs 18,200.

Covid-19 impact: Gujarat, Punjab increase working hours in factories

Andhra Pradesh has asked employers to not lay-off contract workers during the lockdown

Covid-19: Delhi extends subsidy on electricity, to pay for discoms' dues

The Delhi government also said it has approved "extension of existing electricity subsidy to domestic and agriculture, special subsidy to 1984 Sikh riots victims

Centre seeks India Inc's view on economic revival amid Covid-19 outbreak

Key demands and suggestions include improving liquidity, cutting customs duties and goods and services tax (GST) rates, expediting all refunds and a halt on tax scrutiny

Farmers can continue to avail special interest rate till May 31, says RBI

This will be applicable for short-term crop loans of up to Rs 3 lakh per farmer, the RBI said

Transporters demand reduction in fuel prices amid Covid-19 lockdown

AIMTC said Covid-19 and the lockdown have hit the transport sector adversely, and exerting acute pressure on the sector.

When oil goes negative: How did it happen, what it means for Indian economy

Oil producers are paying buyers to take the commodity off their hands.

Oil firms float finished fuel products on Arabian Sea as demand slumps

They're running out of storage space on land and their refineries are running only at 50% of capacity; US Oil futures touch an unprecedented negative pricing

Tamil Nadu SEZs want easy NFE rules to lure foreign cos aiming to relocate

SEZs in the State estimate a loss of around 15-20 per cent of export value owing to the Covid-19 scenario

Uncertainity around Q2 performance of businesses: Harsh Pati Singhania

The return to normalcy will also depend largely on how quickly the consumers also recover from the overall impact of the coronavirus outbreak and the lockdown, he said

Covid-19 impact: NLC, TCS employees top EPF advance withdrawal list

The top firms which saw the highest amount of applications for EPF advance withdrawal were TCS (9,373 employees), HCL Technologies (6,938) and NLC (3,255)

Covid-19 crisis and India's ration story: Mounting stocks and hungry mouths

At the all-India level, applying the 67% ratio to a projected population of 1,372 million for 2020, PDS coverage today would be 922 million, instead of around 800 million

MNCs moving out of China, India must seize the opportunity: Panagariya

Covid-19 crisis has made it evident that India needs to create better paid, formal sector jobs that requires moving workers out of tiny enterprises into better-paying jobs, he said

Policy measures may not offset Covid-19 economic damage in APAC: Moody's

Though Asia's external & fiscal buffers are generally more robust than those in other regions, equipping governments with more policy space, their policy responses will only cushion some of the impact

UPI transactions drop in March, RTGS shoots up due to lockdown

According to the data, the volume of UPI transactions in March slipped to 124.68 crore from 132.57 crore in February