Page 1875 - Economy & Policy News

India plans to fill strategic oil storage by third week of next month

India is moving the oil to the SPR to help the country's refineries reduce their excess crude as the lockdown to contain the Covid-19 outbreak has dented transportation and industrial fuel consumption

Customs clearance goes paperless, contactless to speed up essentials import

Expedited clearance of raw materials will facilitate the production of essential items like pharmaceuticals in the country

Barclays pegs economic cost of lockdown at $234 bn; sees no growth in 2020

Barclays has revised down their GDP growth forecast further to 0 per cent for calendar year 2020 (CY20) from 2.5 per cent earlier

Lockdown impact: Tea firms see huge price surge in May due to scarcity

The shortfall in March and April has been exacerbated with the panic purchase of 50 million kg of existing inventory

'Come up with solutions': Gadkari asks realtors to give plan for revival

Develop mass housing projects in tier 3 and 4 cities, minister tells industry association.

Extension of coronavirus lockdown set to keep retail inflation elevated

Retail headline inflation in March 2020 fell to a four-month low of 5.9 per cent, 0.7 per cent lower from a month ago and 3.1 per cent higher than the corresponding month a year ago

Govt mulls clearing lockdown hurdles for agri-exports revival: Agri Secy

Exports have also resulted in increased production in the agriculture sector by increasing area coverage and productivity

Businesses can claim GST refund for services, goods contract cancellations

The CBIC issued a set of clarifications in view of certain challenges being faced by taxpayers in adhering to the compliance requirements following the coronavirus outbreak

Orders to pay full wages may push industry to bankruptcy: Amarinder to Modi

In a letter to PM Narendra Modi, Amarinder Singh sought reconsideration of the order issued by the Union Ministry of Home Affairs under the Disaster Management Act, 2005

India plans to fill strategic oil storage by the third week of May: Report

India's fuel demand in March declined by 17.8%, the lowest in over two decades

Covid-19: Indian Railways extends suspension of services till May 3

Earlier, the railways had also ordered the closure of all rail museums, heritage galleries and heritage parks as a preventive measure to control the spread of the deadly virus.

Covid-19 to derail affordable housing segment's growth momentum: Report

As on Q1 2020 end, there are more than 2.34 lakh unsold affordable homes in the top seven cities

Lockdown extension: Economic growth will be zero for CY2020, says Barclays

The brokerage had said earlier that the three-week lockdown would likely to have an economic cost of $120 billion which is now estimated to balloon up to $234.4 billion

Top headlines: Extra re-payment burden for India Inc, weak PV sales, & more

Business Standard brings to you the top headlines of the day

India to buy Harpoon missiles, lightweight torpedoes from US for $155 mn

While the Harpoon missiles will be manufactured by Boeing, the torpedoes would be supplied by Raytheon

Covid-19 lockdown: 12-hr workday in Rajasthan factories, Punjab may follow

State invokes powers under Factories Act to extend maximum hours to 12 from eight earlier; Other states may follow as move is aimed to ensure production isn't impacted due to reduced workforce

India tightens curb on refined palm oil import with more conditions

India, the world's largest importer of vegetable oils, buys nearly 15 million tonne annually

PM Modi to make it official today: Lockdown will stay with caveats

But, even if lockdown restrictions are eased, labour remains the biggest challenge for both agriculture and industry.

Coronavirus outbreak: A 21-day lockdown may have cost India Rs 8 trillion

The sectors that have been most impacted are transport, hospitality, and real estate

Covid-19 impact: States borrow Rs 12,128 cr from bond market at lower rates

The cut-off yield for 10-year state development loans was at 7.60-7.65 per cent, whereas the 10-year government securities closed at 6.50 per cent.