Page 1904 - Economy & Policy News

FM reaches out to CAs to promote Vivad se Vishwas scheme to resolve cases

Addressing CAs at an, Sitharaman said they should work hard to make the scheme successful

Coronavirus pandemic could shave off 0.5% of India's GDP: CARE survey

Majority respondents who believe that the RBI will reduce the repo rate, expect a cut between 25 and 50 bps either before or in April 2020

Coronavirus flight shutdowns have hit cargo capacity, says IATA

"The dramatic travel restrictions and collapse of passenger demand have severely limited cargo capacity," said Geneva-based IATA

Coronavirus outbreak could make airlines bankrupt by May-end: CAPA

Many airlines have probably been driven into technical bankruptcy or substantially breached debt covenants already, Sydney-based consultancy CAPA Centre for Aviation warned in a statement Monday

Don't rush to withdraw deposits from YES Bank: RBI governor Shaktikanta Das

Das said the central bank had enough instruments for use if needed - they would be deployed at a time that would maximise impact

Govt mulls campaign to halt panic buying amid coronavirus outbreak

Sanitisers are a Rs 300-350-crore industry in India, and in the last one month, the demand has jumped 10-fold, claimed industry sources

Telcos' stressed assets: IBA tries to overcome the stumbling blocks

The IBA's request highlights the roadblocks in resolving stress assets in this sector under the IBC

Coronavirus outbreak to take heavy toll on readymade garment exports

Exporters have attributed the drop mainly due to COVID-19, which impacted sentiment in the European market - the largest for Indian exporters

India plans to fill strategic petroleum reserves with cheap Saudi, UAE oil

Leading OPEC producers Saudi Arabia and Abu Dhabi have said they will increase output while cutting prices, giving big consumers the chance to fill up at discounted prices

Covid-19 pandemic can deal MSMEs a serious blow: CRISIL SME Tracker

The World Health Organisation has declared Covid-19 a pandemic, as more than 114 countries have reported cases of the affliction. This has material implications for the global economy

Peak power demand to bounce back in FY21 depending on industrial activity

While growth in manufacturing hinges on expansion of industrial base, growth in domestic consumption is likely to continue on urbanization and irrigation drive

Farmers to give declaration to banks to opt out of 'PMFBY' scheme

Senior officials said banks have been directed to maintain a record of the declarations given by farmers, so that no premium is deducted after someone has opted to move out of the scheme

Govt plan to set up 10,000 groups to promote farm produce needs pruning

A farmer-producer organisation is a means to help small farmers maximise their income by offering distribution and marketing support for their produce

WPI-based inflation eases to 2.26% in February on cheaper food items

The data released last week also showed that the consumer price index- (CPI-) based inflation rate declined to 6.58 per cent from 68-month high of 7.59 per cent over this period

Govt ramps up capacity of the NCLT Benches to boost decision-making

Since inception, close to 62,000 cases came to the NCLT. These include the ones which transferred from board of industrial and financial reconstruction and high courts

Lok Sabha passes Appropriation Bill authorising govt to draw Rs 110 trn

The house passed the Bill, envisaging spending of Rs 110.4 trillion during the financial year 2020-21 after Speaker Om Birla applied 'guillotine' on demands of grants for various ministries.

Saudi Aramco likely to sustain higher April oil output through May: CEO

Aramco said last week it would be raising its output in April to a record 12.3 million barrels per day in a fight for market share with Russia that has helped to hammer global oil prices

No decision to discontinue printing of Rs 2,000 banknotes: FinMin

The total face value of banknotes of Rs 2,000 denomination in circulation and in currency chests was Rs 5.49 lakh crore and Rs 0.93 lakh crore, respectively.

Govt backs telcos in SC, seeks payment of AGR dues over 20 years

Adverse impact on the functioning of telecom companies will hurt economy and consumers, says telecom department.

Chhattisgarh govt in a fix; activists warn Dantewada-like action in Hasdeo

State government in process to scrap clearances for NMDC's iron-ore mine in Dantewada