Page 1894 - Economy & Policy News

Govt approves additional Rs 5,751 cr to 8 states as calamity relief

The eight states which will get the financial assistance are: Kerala, Maharashtra, Bihar, Nagaland, Odisha, Rajasthan, West Bengal and Karnataka

Forex reserves fall by $12 bn to $499 bn; rupee hits all-time low: RBI data

The reserves had touched a life-time high of $487.23 billion in the week to March 6, after it rose by $5.69 billion

PMO asks ministers to file daily report on steps taken to curb virus impact

These ministers are instructed to work as a bridge between the Centre and the States, said a report

Covid-19 impact: Southern Railway units start making sanitisers, masks

Development follows a directive by Railway Board to production units and workshops to use their manufacturing units to make essential medical items

Telangana govt to buy Kharif produce from farmers as mandis remain closed

Will need Rs 35,000 crore to buy all the standing crops in the state

Coronavirus: Naveen Patnaik announces Rs 2,200-crore package for welfare

The package will benefit about 1.64 crore people of the states total population of 4.5 crore

Govt releases Rs 4,431 cr to clear pending due wages under MGNREGA

They said all the funds will be transferred directly into the beneficiaries' bank accounts

Covid-19: Challenging times ahead for domestic steel industry, says Icra

Weak domestic demand is likely to lead to inventory pile up, exerting pressure on steel prices, agency says

Realtors say RBI decisions to boost liquidity; seek quick transmission

Anarock Chairman Anuj Puri said RBI's move will push credit flow into all industries reeling under the impact of the coronavirus

Foreign trade policy, schemes to be extended by 6 months till Sept 30

Some more measures are also expected to be provided to exporters to ease strain caused by the outbreak.

Secondary metal producers crumble under lockdown, shipping cos add to woes

Scrap imported at lower prices stuck at ports, finished goods lying at factories with no transport available; shipping firms make hay by charging huge sums for storage at ports

Top Headlines: RBI joins coronavirus war, cuts repo rate; EMIs put on hold

Business Standard brings to you the top headlines of the day

RBI cuts repo, FM says slashed interest rate needs quick transmission

The three-month moratorium on payments of term loan instalments (EMI) and interest on working capital give much-desired relief, she added

Covid-19: Rs 1.7-trn relief package welcome, but more support needed

A few more rounds of assistance would be necessary in the coming weeks as the impact of the lockdown and the disease on the economy becomes more evident

A quick look at RBI's measures to arrest Covid-19 slowdown

The RBI has reduced the repo rate by 75 basis points (bps) to 4.4 per cent, and the reverse repo rate by 90 bps which now stands at 4 per cent

RBI follows global banks, cuts repo rate by 75 bps to fight coronavirus

The move comes after the global central banks have been cutting rates to help shore up the economy amid coronavirus pandemic

Highlights: RBI reduces repo rate by 75 bps to 4.4%; slashes CRR by 100 bps

The Monetary Policy Committee (MPC) has decided to reduce the reverse repo rate by 90 basis points (bps) to 4 per cent, and cash reserve ratio by 100 bps to 3 per cent

This is an opportunity to make outsized gains over the next few years

We believe the debt market is very attractively priced from a short-to-medium term perspective.

Coronavirus impact: Moody's cuts India's growth forecast to 2.5% from 5.3%

This compares to 5 per cent growth in 2019

Moody's cuts India 2020 GDP forecast to 2.5%; global growth to dip to -0.5%

Over the next few months, Moody's expects job losses across countries to accelerate