The Nikkei/IHS Markit Services Purchasing Managers' Index fell sharply to a five-month low of 49.3 in March from February's seven-year high of 57.5, below the 50-mark separating growth from contraction for the first time since October.
The rules also specify that the permits for conventional cargo (other than over-dimensional cargo) are valid for one day for the movement of goods for 100 km, and in the same proportion for following days.
During the week ended March 27, while the value of gold reserves jumped by $3 billion, the foreign currency assets rose $2.5 billion. On the other hand, the net outflow by FPIs from debt and equity markets between March 20 and March 27 amounted to $3.5 billion.
These flights, flown by private carriers IndiGo and SpiceJet, in addition to Air India, Alliance Air and Indian Air Force, have been operated under the Ministry of Civil Aviation’s Lifeline Udan scheme.
With hundreds of trucks getting stranded across the country since March 15, The Indian Express had reported April 1 about transporters raising concerns over potential penalties arising from expired e-way bills.
All the major centres recorded a dip, with Mumbai seeing a fall of 12 per cent in its collections, while Bengaluru and Delhi recorded a slide of 10.1 per cent and 9 per cent in collections, respectively.
According to Reliance Securities "rising coronavirus cases in India and globally could also weigh on sentiments as investors could continue to buy the safe haven Dollars".
There is little scope for optimism in FY21, due to the overhang of the COVID-19 crisis, Crisil said.
The headline seasonally adjusted IHS Markit India Manufacturing PMI fell to 51.8 in March, from 54.5 in February, signalling the slowest improvement in business conditions since November 2019.
In an interview to P Vaidyanathan Iyer, Director at the National Institute of Public Finance and Policy Rathin Roy talks about the priorities, pain points, and fiscal needs of what he calls a "warlike economy".
MPC expects food inflation to cool off in the coming months with the beneficial effects of record food grain and horticulture productions.
The investment announcement comes at a critical time for India, as the already sagging economic growth is feared to be taking a heavy hit due to the coronavirus pandemic.
The central government has asked the state-run power generating companies such as NTPC and Power Grid Corporation of India Ltd to not curtail supply to the states even if the discoms do not clear payments to them on time.
“The sitting Members of Parliament may recommend release of fund from the eligible instalment/s to be released by the MoSPI during 2020-21 to/through such fund/central government pool (as may be decided by central government for managing COVID-19 in the country,” it said.
While Tata Trusts, the major shareholder of Tata Sons, have committed Rs 500 crore, Tata Sons announced an additional Rs 1,000 crore in support towards fighting the COVID-19 outbreak and related activities.
In addition to freighter aircraft already being allowed to transport without restrictions, the Centre has also allowed private airlines to operate passenger planes only with cargo.
The decline has been primarily driven by outflow of funds by FPIs as they pulled out over $15 billion in March till date.
It is crucial to move beyond RT-PCR tests because they would have “very little value” in the event people with positive antibodies to the virus (meaning they have COVID-19 but their immune system has tackled the virus) are tested, according to her.
The note provides guidance to companies and auditors on measuring impairment of assets, evaluating contingent liabilities and the ability of business to remain operational.
Though Reserve Bank Governor Shaktikanta Das unveiled a slew of measures, the markets were not enthused. The growth projection of 4.7 per cent for the fourth quarter of FY20 and 5 per cent for the whole fiscal was at risk, Das said.
PHOTOS: Amitabh Bachchan, Mohanlal, Rajinikanth and others light diyas and candles