The government is planning to replace safeguard duty introduced in July 2018 to protect domestic manufacturers with a basic customs duty which will rise to 20% in a phased manner over the next 2-3 years.
The scenario for FY21 will depend on economic recovery defined by three factors: how the MSMEs are going to perform, the issue of migrant labour, and the rate of spread of Covid-19, said Prashant Jain.
As retail prices of petroleum products are mapped with international rates, the steep fall of global crude prices in Q4FY20 meant that by the time refiners sold their products after processing crude, retail rates had fallen.
MSEDCL owes state run power producer Mahagenco around Rs 7,000 crore, which it plans to pay in due course along with Rs 200 crore of wind power producers' outstanding loans, which is held up for some outstanding issues.
The majority of Indian cement companies including Ultratech Cement, ACC, Ambuja Cement, Sree Cement and Prism Cement source around 70% of their coal requirement from abroad, while close to 30% is met from domestic coal.
While the discretionary spend in rural areas has not risen as per expectations, FY21 is likely to deliver better numbers than the ongoing fiscal, says Adi Godrej, chairman of the Godrej Group, in an interview to Vikas Srivast
The fifth package would consist of three to four road projects valued at around Rs 3,000 crore and will be followed up with small packages of two to three road projects after every two to three months, the source added.