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Compliance norms eased for firms, FM says financial package ‘sooner than later’

Finance Minister to announce economic package soon to deal with coronavirus impact

March 26, 2020 12:46:33 pm

The announcement is expected to take place at 1 pm on Thursday, an official said without giving any specific details.

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Experts peg India’s cost of coronavirus lockdown at $120 billion

March 25, 2020 3:10:25 pm

Prime Minister Narendra Modi announced a three-week complete lockdown of the country to prevent the spread of the coronavirus infections in the country.

Compliance norms eased for firms, FM says financial package ‘sooner than later’

Compliance norms eased for firms, FM says financial package ‘sooner than later’

March 25, 2020 6:20:08 am

“Work is going on and we are very close to coming up with an economic package, which will be announced sooner rather than later,” Nirmala Sitharaman said.

No fuel crisis in India; enough stock of petrol, diesel, LPG available to last lockdown: IOC

Cap on fuel excise duty up Rs 8 to mobilise resources

March 24, 2020 12:58:31 pm

The change in the cap will enable the government to raise duties on petrol and diesel by another Rs 8 per litre each.

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Coronavirus impact: Govt increases special additional excise duty cap on petrol, diesel

March 23, 2020 10:25:47 pm

Experts say that the move to give headroom to the government to shore up its falling revenues may still not be enough to compensate for the fall in demand due to the COVID-19 outbreak.

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Govt clears 14th FC dues for some states

March 22, 2020 2:22:33 pm

Of the total amount of Rs 2,570.0813 crore, Rs 940.8063 crore is for rural local bodies and Rs 1,629.275 crore for urban local bodies. “The amounts have already been credited to the accounts of the respective state governments,” she said.

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RBI extends PMC Bank moratorium by another three months

March 22, 2020 1:59:06 pm

According to the RBI, it has been, directly and through the Administrator, discussing with various authorities on expeditious sale of securities and recoveries of loans. “Due to various factors including legal processes, tangible outcomes are taking some time,” the RBI said.

India lockdown: Rajasthan migrant workers in Gujarat leave for homes on foot

DoT asks states to ensure critical telecom functions remain operational

March 22, 2020 10:32:24 am

The DoT asked the states to allow the movement of staff maintaining these services as well as ensure continuous supply of power to these telecom units.

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Cabinet okays three schemes worth Rs 48k crore to promote electronics manufacturing

March 22, 2020 10:23:03 am

A second scheme to further promote electronics manufacturing clusters was approved by the Cabinet on Friday, Ravi Shankar Prasad said.

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COVID-19 infects markets: FPIs withdraw `1 lakh crore from equity, debt in March

March 22, 2020 5:16:20 am

Foreign portfolio investors (FPIs) have pulled out close to Rs 1,00,000 crore (US $13 billion) from India in March, as the coronavirus pandemic and the carnage in the financial markets have forced FPIs to derisk from emerging market assets across the world. This is the largest monthly outflow in the history of the Indian markets, […]

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Forex reserves decline for first time in 25 weeks

March 21, 2020 4:53:34 am

For the week-ended March 13, forex reserves stood at $481.89 billion and it fell $5.35 billion from the all-time high of $487.23 billion in the week-ended March 6, 2020.

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Coronavirus impact: Fitch cuts India growth forecast to 5.1% for FY 2020-21

March 20, 2020 10:25:46 am

In its Global Economic Outlook 2020, Fitch said the number of people affected by coronavirus will keep rising in the coming weeks but that the outbreak will remain contained.

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Electoral priorities dominate the budgets of five key states facing Assembly polls

March 19, 2020 5:25:25 am

Apart from the wide geographical variation, these states also represent wide variation in terms of the political parties ruling them — from the Left Front government in Kerala to the right-wing Bharatiya Janata Party in Assam.

States spend 5% of their money on healthcare; 15% on education

March 19, 2020 10:32:59 am

In 2017-18, Assam, Kerala and Chhattisgarh spent most in excess of the national average on both sectors. In sharp contrast, Haryana and Punjab spent lower than national average on both counts.

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Potemkin Budgets: The state of state finances

March 19, 2020 5:19:15 am

Be it raising revenues or spending money, there is wide gap between what states promise to do in any given year and what they actually do.

17 state budgets, 1 story: Stressed fiscal, deep cuts in expenditure

March 19, 2020 11:08:10 am

All states, barring Assam, found their revenue receipts plummet through the current financial year. Bihar, for instance, saw its revenue receipts fall by around Rs 25,500 crore — roughly a fall of 14 per cent over the Budget Estimates.

COVID-19 impact: Mumbai economy staring at loss of around Rs 16,000 crore

March 18, 2020 7:18:03 pm

While economists for weeks have been warning about a possible disruption that coronavirus scare could cause to the economy, it is only now that its effects, in form of an apparent slowdown, are manifesting for businesses in Mumbai.

S&P lowers India's growth forecast to 5.2 per cent in 2020

S&P lowers India’s growth forecast to 5.2 per cent in 2020

March 18, 2020 9:23:45 am

Asia-Pacific economic growth in 2020 will more than halve to less than 3 per cent as the "global economy enters a recession", S&P said in a statement.

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Moody’s lowers India’s GDP growth forecast to 5.3 per cent in 2020

March 17, 2020 11:36:43 am

Moody's had in February projected a 5.4 per cent real GDP growth for India in 2020. This too was a downgrade from 6.6 per cent earlier forecast.

Macroeconomic outlook vulnerable to disruption of trade with China: Anurag Thakur

March 17, 2020 3:14:41 am

Coronavirus has already caused massive disruption across the world, forcing airlines to reduce flights and adversely affecting a range of businesses globally and in India.

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