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Demand slump bites: Rupee fall doesn’t suffice to allay exporters’ woes

As per RBI index, the rupee was still 'over-valued' by almost 16% in April among 36 currencies
Economy News

Covid effect: Trai shelves plan to define tariff floors

Call it the pandemic effect or the tariff rise effect, but it seems the Telecom Regulatory Authority of India (Trai) has shelved the idea of putting in place floor prices for data and voice tariffs to

Sources said that even the government, which had last year in November in the aftermath of the Supreme Court's verdict on adjusted gross revenue dues pushed for the idea, is no more keen on it. News

Covid-19 lessons for school education

Countries should empower schools to proactively develop an Education Continuity Plan (ECP) and the Proactive Risk Mitigation Model (PRMM).

Globally, 1.5 bn students are impacted, of which 830 mn do not have requisites for online schooling. News

Delhi Govt takes over 5 hotels for Covid wards

With a rise in the number of Covid-19 positive cases, the Delhi government on Friday took over five hotels, including Crowne Plaza in Okhla phase-I, and Surya in New Friends Colony to be converted int

As on Friday afternoon, the total Covid-19 positive cases in Delhi stood at 17,386, which included the 1,106 cases reported on Thursday. News

Q4 GDP growth 3.1%: Was a revival on?

Economy expanded at 4.2% in FY20, the lowest rate since FY09, dragged down by manufacturing, construction, investment.

India has pole position in another dimension of its response. It has announced several economic reforms as a part of the 10.5% stimulus package. News

Credit flow: Rs 4L crore reverse repo funds sanctioned as loans

RBI data show banks have parked Rs 6.3 lakh crore under the reverse repo route.

Economy News

Can’t make migrants pay for travel: Supreme Court

Even as the Centre claimed that it is taking “unprecedented steps” to meet the challenges during the Covid-19 lockdown, the Supreme Court on Thursday asked it to ensure free travel to stranded mig

The transportation of migrant labourers and providing them food has become a matter of concern since the Centre started running special trains from May 1. News

Cash crunch: Telangana extends deferment of 50% salary to May

Odisha says March order not reversed yet; despite liquidity support by the Centre, many states continue salary deferments

Economy News

Covid-19 crisis: ‘Indian banks need $20 billion in fresh capital’

Credit Suisse expects public sector banks to dial the government for $13 billion in recap. Rising risk aversion and accelerating rating downgrades are expected to add to asset quality stress for banks

The impaired loan ratio will trend up due to both higher fresh slippages and lower loan growth. News

Interest on deposits drops to 17-year low

Other banks offer higher interest rates — HDFC Bank pays 5.6% and both ICICI Bank and Bank of Baroda pay 5.55% for the same product.

That has left lenders with a large surplus of close to Rs 8 lakh crore which is being parked with Reserve Bank of India (RBI) for a return of just 3.35%. News

Winged terror: Locusts now in 6 states; farm output under threat

Normally, with the arrival of the monsoon, locust swarms enter the desert areas of India via Pakistan for breeding in the summer of June-July.

“This year’s incident will be probably larger than the last major one in 1993 that India faced,” he said. News

Coronavirus crisis: For survival, fight Covid-19 pandemic like a war

The economic destruction that Covid-19 would cause worldwide may be greater than the damage caused by World War II.

Going by the number of Covid-19 cases, India may be in the top five by end of June, and the top two by end August. News

Labour reforms: Centre to tell states not to rewrite laws

As reported by FE earlier, Madhya Pradesh, Uttar Pradesh and Gujarat proposed/issued orders, suspending key provisions of labour laws.

“On its own, the Centre has no plan to bring in labour-law ordinances,” the official had added. News

ETF route: Bharat Bond to help CPSEs raise Rs 34,000 crore in FY21

Debt mobilisation via this route might rise to Rs 50,000 crore or higher in FY22

From the perspective of investors, the quasi sovereign nature of the CPSE bonds in the index is an attraction, so are the low entry barrier and expense ratio. News

Market on a high: Sensex soars, Nifty crosses 9,300-mark

Indian equities on Wednesday were buoyed by the sharp uptick in global markets.

While Sensex rallied 995.92 points, Nifty surged past the 9,300-mark. News

Government proposal: MSMEs may seek own insolvency

Data available with insolvency regulator IBBI show, proceedings in 2,170 cases were going on as of March 2020. Typically most of the insolvent firms are MSMEs.

msme, msme insolvency proceedings, insolvency proceedings India, COVID-19 in India, covid impact on msmes, Insolvency and Bankruptcy Code, IBC News

Covid-19: Catch up to trend-GDP difficult in three years

However, this time around, things could be different, the agency said, alluding to the fact that the loss of GDP this time around could be much steeper.

In the past 69 years, India has seen a recession only thrice – as per available data – in fiscals 1958, 1966 and 1980. News

Threat to crops: Locusts present in these five states and spreading

Unless emergency steps are taken and spread of locusts is checked, the kharif crops including cotton may be under risk as sowing is set to start in the northern region from mid-June.

Meanwhile, a huge swarm of desert locusts covering nearly 15 kms in length attacked fields in three to four villages in Katol, a tehsil in Nagpur in eastern Maharashtra, on Monday evening leading to panic among farmers. News

Desi App: Time ticking for TikTok as Mitron debuts

A student of IIT Roorkee has developed the Mitron app which works exactly the same as Chinese TikTok, which is popular among the younger lots for making and posting short videos.

Though it is still far behind TikTok's nearly 600 million downloads in India so far, the catchy name and similar usage format may give the Chinese rival a run for its money. News

Covid-19: With daily cases mounting, India now stands fourth in the world

On Tuesday, as India added 6,500 infections, Our World in Data figures show that only the US, Russia and Brazil had more infections.

Brazil and the US are the only two countries to be adding over 10,000 infections every day. News

Uber India lays off 600 workers as Covid hits business

The reduction in workforce has primarily impacted job roles in the driver and rider support segments, business development, legal, finance, policy and marketing verticals.

Uber is currently operational in 51 cities of the more than 70 cities where it provides its rides services. News

Business picking up: GST compliance rise to half of usual level

CRISIL predicts India’s growth to fall off the cliff and contract 5% in fiscal 2021, mowed down by the Covid-19 pandemic.

Economy News

Covid effect: MSME definition to be widened further, here’s what Centre planning

Days after announcing a new set of criteria to define micro, small and medium enterprises (MSMEs) on which various official benefits will be extended, the government is considering a proposal to widen

MSME and transport minister Nitin Gadkari told FE his ministry is floating a proposal to raise the annual turnover limit for a medium enterprise to Rs 250 crore from Rs 100 crore. News

Covid-19: Pune staring at shortage of ICU beds and ventilators

Pune city could be facing a shortage of ICU beds and ventilators by the end of next month if the Covid-19 positive cases continue to rise the way the have in the last one month.

As on May 21, the total positive cases in Pune city was 4,107, and cases are doubling here in 14 days. News
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