Page 39 - Economic Recovery

Tax mop up in Q1 'very encouraging', shows economic recovery: Finance Secy

Income tax collection, by way of advance tax and TDS, in the April-June quarter was about 80 per cent of what was collected in the same period last year

'Correlation of Indian markets with global peers will be high from here on'

Investors need to focus on the diversified large, mid, or multi-cap segments as the valuation discount of mid/small-cap is adequate at this stage.

Q1 show, Covid trend and geopolitics to drive markets this week: Analysts

Globally, the rising coronavirus infections and geo-political tensions have created uncertainty on the economic recovery front

Outlook for kharif season favourable as sowing is 44% more than 2019: ICRA

The monsoon rainfall recorded a timely onset and rains covered the entire country well ahead of the normal date

PM takes stock of financial sector, reviews progress of Rs 20 trn package

As part of this exercise, sources said, he had a meeting on the financial sector of the economy which is an important pillar in reviving growth and demand

China's economy recovering steadily, but hard battle ahead: Premier Li

The world's second-largest economy is gradually emerging from a 6.8% economic decline in the first quarter, its first contraction on record

Top headlines: Google bets big on digital India, RIL hits new high & more

Here are the top headlines of the day

Economic recovery to gather pace in H2-2020; stay negative on India: Nomura

While collectively, emerging market economies have entered their deepest recession in at least 60 years, Asia - particularly China and Northeast Asia - stand out as the best, Nomura says

Dubai announces economic support package of $408 mn to cope with Covid-19

The package is the third announced by Dubai, the second-largest and wealthiest member of the Emirates federation

E-way bill generation showing green shoots of economic recovery: GSTN

Network says June 30, the last day of Unlock 1.0, ended with generation of 1.83 million E-way bills worth over Rs 54,500 crore, which is the highest since lockdown was enforced

Oil falls below $43 a bbl on Covid-19 surge but headed for a weekly gain

OPEC oil production fell to its lowest in decades in June and Russian production dropped to near its OPEC+ target

Covd-19: Merkel, Macron demonstrate unity over post-pandemic EU recovery

After holding a meeting with French President Emmanuel Macron, Chancellor Angela Merkel said Germany would spearhead efforts to ensure an effective post-pandemic EU recovery

Retailers in Tier-II, III towns expect recovery in 9 months: Motilal Oswal

More than 80% stores of regional retailers have opened in smaller towns after the relaxations in Covid-19 lockdown, with footfalls at 50-60%, Motilal Oswal Financial Services has said

Prompt policy measures helped to revive economy with minimal damage: FinMin

Stating that agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of the economy

Govt to hire consultancy firm to draw action plan for steel sector revival

The government is already aware of the disruptions which have been caused by the outbreak of the pandemic and accordingly various relaxations have been given to the players across the sectors

Best of BS Opinion: All eyes on recovery, Sino-Indian border standoff, more

Here's a selection of Business Standard opinion pieces for the day

Covid-19 crisis: PM Modi says growth will return, more reforms in the works

He said the pandemic might have applied the brakes on the speed of the economic growth, but the country had left behind the phase of lockdown and entered the first phase of unlocking.

In pictures: Barber shops and salons reopen in major cities

After being shut for over two months, barber shops and salons were reopened in Delhi, but spas remain closed.

Finance Ministry cautiously optimistic about economic revival in late FY21

In its macroeconomic report, the finance ministry did not reveal its projections for 20120-21

Govt to set up Rs 1-trn agri infra fund, amend Essential Commodities Act

Finance Minister Nirmala Sitharaman on Friday announced setting up of a Rs 1 lakh crore agri infrastructure fund for farm-gate infrastructure. This fund will be used for setting up cold chains and post-harvest management infrastructure, she said while announcing the third tranche of COVID-19 relief package. She also announced a Rs 10,000 crore scheme for formalisation of micro food enterprises (MFE). The scheme will be launched to help 2 lakh MFEs by adopting cluster-based approach such as mango in Uttar Pradesh, kesar in Jammu & Kashmir, bamboo shoots in North-East, chilli in Andhra Pradesh, tapioca in Tamil Nadu. This fund would help in reaching untapped export markets in view of improved health consciousness.