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Covid-19: Are Delhi’s infection levels at 7% or 22%?

On May 6, for instance, the High Court was informed that 1,373 tests were done but the state’s Medical Bulletin puts the number at 4,082.

Based on the medical bulletin, Delhi had 472 fresh infections on May 14 out of total of 6,391 fresh tests; in the High Court, however, the Delhi government said 1,807 tests were conducted on May 14.

Power shock: UDAY scheme fared even worse?

PFC says discoms' FY18 losses were double the level reported, at Rs 33,365 cr

Discoms in Delhi and West Bengal also recorded negative ACS-ARR gap though they were not part of the UDAY scheme.

Covid-19 impact: Ola to lay off 1,400 employees

Revenues for the Bengaluru-based firm have reduced by 95% in the past two months, co-founder & CEO Bhavish Aggarwal wrote in a note to employees.

Ola’s total losses stood at over Rs 2,590 crore in the year to March 2019, slightly lower than losses of Rs 2,842.3 crore posted in FY18.

Central law to free farm trade: Ordinance route unlikely

However, a final decision will be taken by Prime Minister Narendra Modi since this is a politically sensitive issue, the source added.

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COVID-19 impact: Start-ups on a declining spree; 30% halt ops

Due to the current market disruption, investors will take a sharper call on the kind of business models they would want to support, analysts maintain.

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Hike in borrowing limit: Centre issues fresh advisory to states, clarifies on riders

Replacing power subsidy with DBT, cost-linked user charges, property tax floor among key parameters; Central ministries to decide if norms are met

The package caters to cottage industry, MSMEs, labourers, middle class and industry, among others.

Coronavirus outbreak in India: More testing equals more infections

What is worrying, however, is the sharp increase in the infection levels, both for the country as well as for some individual states.

In the case of Maharashtra that accounts for 35% of the country’s infections, the infection levels were 9.6 in Lockdown 2 and this rose sharply to 13.3 in Lockdown 3; and then to 21.4 in the first two days of Lockdown 4.

Big fight: Bharti gives Jio a run for its money

Similarly, consolidated revenues which were up 8% q-o-q, was its highest for the company in a decade and ahead of estimates.

Bharti’s India wireless revenue growth at 16% quarter-on-quarter, was significantly higher than Jio’s 6% q-o-q, a first since Jio started charging for services in 2017.

State govt borrowing limit hiked to 5% of GSDP; mostly linked to reform goals

The Centre on Sunday acceded to a strident demand from states that their market borrowing limit be enhanced to meet the expenditure contingencies of the Covid-19 pandemic amid a glaring revenue defici

Centre to privatise power discoms in UTs

Currently, roughly 35% of the power being consumed in the country are paid for by the consumers as government subsidies galore, while the release of these get delayed.

FDI in defence production hiked: Boeing, Lockheed Martin can fly higher in India

Defence procurement from Indian vendors dropped almost 11% year-on-year in FY19 to almost Rs 39,000 crore, the lowest in five years.

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Rs 50k-crore investment in coal infra

According to finance minister Nirmala Sitharaman, not just fully explored coal blocks, but even partially explored ones will now be auctioned, and 50 assets will go under the hammer soon.

PLF of private thermal power plants fell to 44% last month, nearly 14 percentage points lower than April 2019.

Private players get entry in space programme

In atomic energy, a research reactor in PPP mode for the production of medical isotopes that can be used for affordable treatment for cancer and other diseases will be established.

isro mars images

Govt claims MSME dues cleared, industry disagrees

‘Total govt dues to MSMEs stood at Rs 5.5 lakh crore at FY20-end, in 40:60 ratio between Centre (including PSUs) and states'

Covid package: Centre bites the bullet, whittles down EC Act to ease inter-state farm trade

The government on Friday moved to unshackle the agriculture value-chains by deciding to deregulate essential commodity trade and introduce a Central law to ease inter-state farm trade, effectively ov

Covid fallout: Zomato to let go of nearly 13% of global workforce

Zomato on Friday said it will let go of nearly 13% of its global workforce and undertake across-the-board temporary pay cuts for the remainder of the staff starting June.

The Gurgaon-based food delivery firm expects the reduction in salaries to be implemented for about six months.

PMAY-U: Centre to give interest subsidy on loan amounts up to Rs 12 lakh

While the scheme has benefited 3.3 lakh families so far, the extension is expected to benefit another 2.5 lakh families in FY21, finance minister Nirmala Sitharam said.

The move signals use of PPP model, which has been employed with considerable success in infrastructure segments like highways, airports etc., to the low-end housing segment.

Labour shortage haunts Pune units due to migrants’ exodus

Industries in and around Pune are staring at a severe shortage of labour in the coming days as 1,08,000 migrant workers from the region have registered to return to their home states.

Modi govt announces 2-month free ration for 8 crore migrants – worst victims of COVID-19 crisis

The Centre on Thursday announced free grains for the next two months for all migrants who don't have ration cards in the states they have been working.

FM Nirmala Sitharaman Live press conference

PFC-REC loans can be recalled if discoms don’t shape up: Power Minister RK Singh

Non-compliant state-run electricity distribution companies (discoms) run the risk of losing their share of the Rs 90,000 crore loan that the government announced on Wednesday to inject liquidity into

Spurring credit flows central to first tranche of stimulus package

MSMEs, NBFCs get support, budgetary outflows seen minimal, scope still for spending rejig, fiscal room for balance package might necessitate RBI support.

Any real enhancement of the fiscal component of the package might necessitate additional debt creation for the Centre or the RBI stepping in to monetise part of the debt.

Loans sanctioned but many borrowers want disbursement after lockdown: FM Nirmala Sitharaman

We had announced measures for MSMEs in July 2019 Budget and then in the February 2020 Budget, FM Sitharaman said.

Finance minister Nirmala Sitharaman

Printing money or IMF loan? CEA Subramanian explains India’s option to fund deficit due to Covid-19

Prime Minister Narendra Modi on Tuesday announced a massive economic stimulus package worth Rs 20 lakh crore, or 10% of GDP.

Funding boost Voda Idea to get Rs 8,400 crore from Vodafone Group

"Under the terms of this arrangement Vodafone Group is obliged to make payments to Vodafone Idea where amounts paid pursuant to the contingent liabilities of Vodafone India exceed those of Idea Cellul

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Economic activities picking up? E-way bills on GST site double from April level

However, in March, which is otherwise the busiest month of the financial year, the average e-way bills generated dropped to 13.1 lakh/day due to lockdown imposed in the last week of month.

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Prompt release: Centre grants Rs 6,915 crore as May revenue-deficit grants to 14 states

Based upon its assessment of the post-devolution revenue surplus/deficit of the states for FY21, the 15th Finance Commission has estimated that 14 states will need revenue deficit grants.

These grants are estimated at Rs 74,340 crore for the entire 2020-21 fiscal year and are being released as equated monthly instalments.

Lockdown relaxation: Why biggies able to resume operations but smaller firms still stuck

No firm can start operations unless the local DM permits, leaving smaller firms in an endless wait

In a big relief to the automotive industry, the Maharashtra state government has permitted industries in the Pimpri-Chinchwad and Bhosari industrial areas to reopen and start operations despite being in a red zone.
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