Page 1888 - Economy & Policy News

Covid-19: CERC pares late payment surcharge by 0.5% on power discoms

Power ministry last week asked CERC to provide relief to discoms as they are unable to collect payments from consumers because of the 21-day lockdown

Coronavirus impact: Indian expats with expired visas on sticky wicket

Senior government officials have confirmed that no evacuation flights to the US are on the radar, given the surge in cases to above 245,000 (as of Friday), in the country.

As global gas prices crash, traders turn ships into floating storage

But while crude can sit for months or even years in a tank, super-chilled LNG tends to evaporate even in the specialised vessels that handle it.

Fitch slashes India growth forecast to 30-year low of 2% for FY21

On March 20, Fitch had projected India's GDP growth for 2020-21 at 5.1 per cent, lower than 5.6 per cent estimated in December 2019

Coronavirus lockdown to hurt finances of generators, discoms: Study

The financial profile of the state distribution utilities or discoms has not seen an improvement in 2019-20

Residential bookings in Mumbai region fall 78% in February-March: Report

The report noted that RBI's three month moratorium on term loan instalments is expected to release some pressure off the developers.

Freefalling economies and a million cases lay bare coronavirus damage

In the space of just 24 hours, 6,095 infected people died - nearly twice the total number of deaths in China, where the virus and Covid-19, the disease it causes, originated.

FinMin releases Rs 17,287 cr to states to fight coronavirus pandemic

This includes Rs 6,195.08 crore on account of 'revenue deficit grant' under 15th Finance Commission recommendations to 14 states

Centre credits first tranch of Rs 500 to over 40 mn Jan Dhan women accounts

The amount is being released by the ministry and will be credited to more than 20.39 crore Jan Dhan accounts of women by the end of April first week

ADB cuts India growth estimate to 4% for FY21 amid global Covid-19 pandemic

Growth in South Asia will decelerate to 4.1 per cent in FY2021 and then recover to 6 per cent in FY2022, largely tracking the trend in the dominant Indian economy, according to ADB

State finances to take bigger hit than Centre's due to coronavirus lockdown

With economic activities at a standstill, analysts say it may be difficult for states to recoup the losses

Biodiesel industry faces coronavirus heat as meat exports drop sharply

Problems compounded after China started a clampdown of illegal imports through stricter border controls beginning in December, which was pegged at $2 billion annually

Coronavirus impact: States to step up borrowings, April may see 60% jump

The states expect to borrow Rs 55,225 crore from the markets in April, against Rs 34,472 crore raised last year.

Coronavirus impact: Amit Mitra writes to FM Sitharaman, demands GST dues

Other states also want immediate release of compensation

Petrol, diesel get costlier as states increase VAT amid coronavirus crisis

Both Kolkata and Mumbai saw an increase of Rs 1.01 each on petrol to Re 1 each on diesel. However, prices in Delhi remained unchanged

Karnataka exempts aerospace and defence firms from Covid-19 lockdown

Indian aerospace and defence firms believe that uninterrupted and timely supply remains critical for their credibility

Coronavirus outbreak: World Bank approves $1-bn emergency fund for India

The World Bank's first set of aid projects, amounting to $1.9 billion, will assist 25 countries

Coronavirus outbreak, recession cloud credit quality outlook, says CRISIL

Moody's, too, revises outlook on Indian banks to negative

Reliance Industries to raise Rs 25,000 crore through NCDs in tranches

In August 2019, group chairman and managing director Mukesh Ambani told shareholders that the company will be a zero net debt company before March 2021

Manufacturing PMI at 4-month low over record dip in new export orders

The Nikkei India Manufacturing Purchasing Managers' Index (PMI) stood at 51.8 in March, after February's 54.5 - much below the eight-year high of 55.3 in January.