Page 1893 - Economy & Policy News
Govt forms ministerial-level committee to resolve supply-chain issues
The 21-day lockdown has put pressure on the logistics system and is a big hurdle in delivery of essential products
 "Govt forms ministerial-level committee to resolve supply-chain issues")
Government ends FY20 divestment programme with Rs 14,700-cr shortfall
The planned IPO of Indian Railway Finance Corporation (IRFC) and an Rs 8,000-crore sale of the Centre's stake in ITC and Axis Bank through SUUTI, have now been put on hold
 "Government ends FY20 divestment programme with Rs 14,700-cr shortfall")
Sugar mills boost production capacity of hand sanitisers to 100K L per day
Apart from sugar mills, grain based distilleries have also set up additional 100,000 litres per day taking total additional capacity to 2 lakh litres per day
 "Sugar mills boost production capacity of hand sanitisers to 100K L per day")
Power discoms get relief of deferred payments, round-the-clock power supply
The ministry of power has asked Central Electricity Regulatory Commission (CERC) to provide a three-month moratorium to discoms on payment to gencos and transcos
 "Power discoms get relief of deferred payments, round-the-clock power supply")
India boosts overall health infrastructure as coronavirus cases spike
As of now, the country reported 873 coronavirus cases and 19 deaths.
 "India boosts overall health infrastructure as coronavirus cases spike")
Indian Railways turn coaches into isolation wards amid coronavirus outbreak
Chanda said a non-AC sleeper coach is already converted into an isolation ward for probable patients suffering from coronavirus.
 "Indian Railways turn coaches into isolation wards amid coronavirus outbreak")
No disruption in services, all branches to remain open: Bankers assure FM
During the call, she also instructed CEOs to ensure that all branches and ATMs remain open and continue operations
 "No disruption in services, all branches to remain open: Bankers assure FM")
Coronavirus lockdown may interrupt operations in 21 mines in Odisha
Although the govt extended the validity of all statutory permits by 2 years for smooth transition, the lockdown is bound to delay the resumption of these mines
 "Coronavirus lockdown may interrupt operations in 21 mines in Odisha")
CCI issues guidance note for combination applications to ease M&A filings
The guidance note for Form I has been revised with a view to incorporate the changes made with respect to green channel, an official release said on Saturday.
 "CCI issues guidance note for combination applications to ease M&A filings")
MHA rejigs rules; state disaster funds to be used to feed migrant workers
The migrant workers are left with no option but to walk as normal transport services have been hit after the announcement of the nationwide lockdown by Modi on Tuesday
 "MHA rejigs rules; state disaster funds to be used to feed migrant workers")
Canada pumps Can$200 bn liquidity, economy estimated to tank 5% in 2020
They followed an announcement that the Bank of Canada is lowering a key interest rate to 0.25 percent as part of a drive to cushion the impact of the coronavirus pandemic.
 "Canada pumps Can$200 bn liquidity, economy estimated to tank 5% in 2020")
Coronavirus has steered us to a recession worse than 2009: IMF chief
"It is clear that we have entered a recession" that will be worse than in 2009 following the global financial crisis, she said in an online press briefing.
 "Coronavirus has steered us to a recession worse than 2009: IMF chief")
Food riots may occur if food is not present for migrant workers: Pronab Sen
'If supply system doesn't come unstuck, if the requirements of people who have no income are not met then food riots are very real possibility,' he said
 "Food riots may occur if food is not present for migrant workers: Pronab Sen")
Will speak to banks to facilitate cash flow amid lockdown: FM Sitharaman
The Finance Minister appreciated the service banks correspondents across the country and said that she will talk to states and request for no restrictions in their movements
 "Will speak to banks to facilitate cash flow amid lockdown: FM Sitharaman")
SBI cuts lending rate by 75 bps as RBI introduces liquidity package
SBI also cut interest rates on retail term deposits by 20-50 bps. For bulk deposits, the cut was steeper, by 50-100 bps, due to huge liquidity in the system
 "SBI cuts lending rate by 75 bps as RBI introduces liquidity package")
India's economic growth may decline by 2 percentage points: Yashwant Sinha
" If we want to reduce poverty effectively, then we have to grow at least at the rate of 8 per cent, compared to that we are growing at the rate of 5 per cent," he observed.
 "India's economic growth may decline by 2 percentage points: Yashwant Sinha")
Moody's slashes India's GDP growth rate to three-decade low of 2.5%
Moody's said, at the 2020 estimated growth rate, a sharp fall in incomes in India is likely, further weighing on domestic demand and the pace of recovery in 2021.
 "Moody's slashes India's GDP growth rate to three-decade low of 2.5%")
Coronavirus impact: Comparing India's economy in the 2 major crisis periods
The GDP growth rates given in the chart are based on the 2011-12 base year
 "Coronavirus impact: Comparing India's economy in the 2 major crisis periods")
SC nod to 10-day sale of 10% of BS-IV unsold inventory post lockdown
The court asked the automobile dealers to submit on affidavit the details of sold and unsold inventories, within one week
 "SC nod to 10-day sale of 10% of BS-IV unsold inventory post lockdown")
Buyers confined indoors, realtors switch online to conduct businesses
The Hiranandani group of developers also had some deals seeing online closure
 "Buyers confined indoors, realtors switch online to conduct businesses")