Coronavirus lockdown: Trade unions write to PM, seek Rs 5-7 lakh cr relief package
New Delhi, Mar 26 : Central trade unions on Thursday urged Prime Minister Narendra Modi to announce a financial package of Rs 5-7 lakh crore for the worst-affected segments of the working population, saying their survival is in jeopardy due to coronavirus-forced lockdown in the country. “We demand that the government immediately announce not less […]
About 1,600 fruit, vegetable mandis functioning; 300 more to operate from Friday: Agri Min official
New Delhi, Mar 26 : As many as 1,600 wholesale fruit and vegetable mandis have started functioning smoothly and 300 more will operate from Friday after the central government on Thursday stepped in to normalise the supply during the lockdown. The Union agriculture ministry is in constant touch with state governments in charge of agriculture […]
Plea in SC seeks imposition of financial emergency in view of lockdown over coronavirus
New Delhi, Mar 26 : A petition was filed in the Supreme Court on Thursday seeking imposition of financial emergency in the country claiming that economic activities have “come to a standstill” due to the lockdown over coronavirus pandemic. The plea has claimed that “divergence of steps” taken by different authorities to deal with situation […]
Centre’s relief package inadequate: CPI(M)
New Delhi, Mar 26 : The CPI(M) said on Thursday the Rs 1.75-lakh-crore economic package announced by the Centre in the wake of the novel coronavirus pandemic was inadequate. The comments come after the government unveiled the relief package involving free food grain and cooking gas to the poor for the next three months, one-time […]
Indian aviation industry stares at losses of up to USD 3.6 billion in Q1 due to travel ban
Mumbai, Mar 25: Aviation consultancy CAPA on Wednesday projected initial losses of USD 3.3-3.6 billion for the Indian aviation industry in the first quarter of FY2021 in the eventuality of all air services including domestic remain shut by June due to the coronavirus pandemic. The pandemic has had a significant impact on the aviation industry […]
Centre asks states to resolve immediately e-tailers’ problems in delivering essential items
New Delhi, Mar 25 : The Centre on Wednesday asked state governments to resolve immediately the problems being faced by the e-commerce sector in delivering essential goods amid lockdown across the country to prevent the spread of coronavirus. E-commerce and home delivery come under essential services and are exempt from the lockdown rules. “However, there […]
Sensex, Nifty log best day in over 10 years
Mumbai, Mar 25 : Indian stock benchmarks Sensex and Nifty posted their best single-day rise in over a decade on Wednesday, mirroring buoyancy in global markets and anticipating a stimulus package by the government to tide over the financial turmoil caused by the coronavirus pandemic. The BSE gauge Sensex shot up 1,861.75 points or 6.98 […]
Lockdown fallout: Azadpur mandi trading down 50% in absence of curfew passes
New Delhi, Mar 25 : Trading at the Azadpur mandi, Asia’s biggest wholesale fruits and vegetable market, has come down by 50 per cent in the last two days in the absence of curfew passes to traders, a senior mandi official said on Wednesday. Wholesale traders are not able to transact much as retailer vendors […]
Govt raises default threshold to Rs 1 cr for invoking insolvency proceedings against firms
New Delhi, Mar 24: The government on Tuesday raised the threshold for invoking insolvency under the IBC to Rs 1 crore from the current Rs 1 lakh with a view to prevent triggering of such proceedings against small and medium enterprises that are facing currently the heat of coronavirus pandemic. Talking to reporters, Finance and […]
Coronavirus: Banks brace for payment defaults, missed targets
Kolkata, Mar 24 : Banks are likely to face significant defaults in payment and miss internal targets as more and more states announce lockdowns in the wake of the coronavirus pandemic, senior officials of a number of lenders said on Tuesday. Bankers are also expecting the Reserve Bank of India (RBI) to come out with […]
