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Monday, April 06, 2020
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India’s March services activity contracts amid coronavirus disruptions

April 6, 2020 10:57:26 am

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.

GST: Centre relaxes e-way bill deadline, defers restriction of input tax credit

April 5, 2020 12:02:13 am

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.

Coronavirus outbreak: Crude oil prices rises as OPEC, allies work on big cut as demand slumps

Low crude oil prices, fall in imports, rise in value of gold help forex reserves surge

April 5, 2020 12:02:07 am

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.

107 cargo flights ferried over 138 tonnes of PPEs, enzymes, medical gear

April 5, 2020 12:02:06 am

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.

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Govt relaxes e-way bill deadline, defers restriction of input tax credit

April 4, 2020 2:57:12 pm

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.

Ecuador struggles to collect the dead as coronavirus spreads

Slowdown, COVID-19 pandemic take a toll— First time in 20 yrs: Direct tax mop-up declines by over 8%

April 4, 2020 9:06:24 am

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.

Rupee slips 48 paise to 76.08 against US dollar in early trade amid coronavirus scare

Rupee slips 48 paise to 76.08 against US dollar in early trade amid coronavirus scare

April 3, 2020 12:08:05 pm

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".

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India Inc’s credit ratio drops to three-year low in second half of FY20: Crisil

April 2, 2020 4:42:25 pm

There is little scope for optimism in FY21, due to the overhang of the COVID-19 crisis, Crisil said.

Economic Survey: Massive dip in Maharashtra's industrial growth, lowest since 2013-14

Mfg activity weakens in Mar, business sentiment sinks to record low on coronavirus concerns

April 2, 2020 2:42:32 pm

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 warlike economy, money needs to be directed to fight, deal with pandemic consequences’

April 1, 2020 8:53:32 pm

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".

For bank deposits, private are back as the preferred choice over public

RBI’s Bazooka: Will it be effective?

March 30, 2020 1:53:48 pm

MPC expects food inflation to cool off in the coming months with the beneficial effects of record food grain and horticulture productions.

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Asian Development Bank to invest $100 million in Indian infrastructure sector via NIIF

March 30, 2020 11:33:36 am

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.

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Discoms get 3 months for payment to gencos to ensure 24X7 power supply

March 29, 2020 7:49:10 am

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.

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Covid-19: Nod to one-time exemption from compliance to enable MPLADS contribution

March 29, 2020 7:26:32 am

“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.

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Tata group commits Rs 1,500 crore to fight COVID-19, to make ventilators locally

March 29, 2020 7:13:51 am

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.

To ensure timely movement of essential commodities, govt sets up air cargo management group

March 29, 2020 6:28:18 am

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.

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Forex reserves fall $12 bn as FPIs pull out funds on virus-driven uncertainty

March 29, 2020 6:05:06 am

The decline has been primarily driven by outflow of funds by FPIs as they pulled out over $15 billion in March till date.

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From hours to minutes: Taking road less travelled to speed up COVID-19 test results

March 28, 2020 10:05:46 am

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.

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ICAI issues guidance for financial reporting, auditing taking into account COVID-19

March 28, 2020 2:10:30 am

The note provides guidance to companies and auditors on measuring impairment of assets, evaluating contingent liabilities and the ability of business to remain operational.

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Sensex ends in red on RBI forecast

March 28, 2020 1:51:58 am

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.

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