Economy News - Page 18

Coronavirus Outbreak: ONGC gas output drops 15% as shut factories refuse to take supplies

State-owned ONGC has been forced to cut natural gas production by over 15 percent as factories shut down following the unprecedented nationwide lockdown have refused to take supplies

Coronavirus Outbreak: Mother Dairy edible oil production, sales drop 35-40% post-lockdown

Leading milk supplier Mother Dairy, which sells cooking oils under Dhara brand, on Monday said the company's production and sales of edible oils have been hit by 35-40 percent post nationwide lockdown to control the spread of COVID-19

Coronavirus Outbreak: RBI to use any means necessary to revive growth, preserve financial stability, says Shaktikanta Das

All-out efforts are needed to mitigate the adverse impact of the Covid-19 pandemic, and the RBI will use any instrument necessary to revive growth and preserve financial stability, according to the minutes of the central bank's policy meeting

Coronavirus Outbreak: Automobile dealers' body FADA writes to PM, seeks immediate financial support

The Federation of Automobile Dealers Associations (FADA) has written to Prime Minister Narendra Modi seeking immediate financial support from the government for the ailing sector amid the nationwide lockdown due to coronavirus pandemic

Domestic passenger vehicle sales plunge 51% in March hit by coronavirus pandemic: SIAM

Passenger vehicle sales in India declined by 51 percent in March, hit by 21-day nationwide lockdown due to the coronavirus pandemic

Coronavirus Outbreak: Steel ministry directs PSUs to feed migrant workers near their facilities

Union Steel Minister Dharmendra Pradhan has directed steel PSUs to adopt the ''<em>Annadaan</em> initiative'' for feeding migrant workers and weaker sections of the society in and around their areas of operation

Coronavirus Outbreak: Pidilite Industries to contribute Rs 25 cr towards Covid-19 relief funds

Pidilite Industries on Monday said it will contribution of Rs 25 crore towards relief funds to fight the coronavirus pandemic

Gold futures prices surge by Rs 771 to Rs 46,065 per 10 gram on domestic demand

Gold prices on Monday rose Rs 771 to Rs 46,065 per 10 gram in futures trade as speculators indulged in creating fresh positions on firm spot demand

Coronavirus Outbreak: NSE contributes Rs 26 c for COVID-19 relief funds

Leading stock exchange NSE on Monday said it has contributed Rs 26 crore towards PM-CARES Fund and a few state government funds in the fight against the novel coronavirus pandemic

Coronavirus Outbreak: Ramky Enviro Engineers to contribute Rs 10 cr to govt relief funds

Environment management services provider Ramky Enviro Engineers (REEL) on Monday said it will contribute of Rs 10 crore to help combat coronavirus pandemic in Telangana and Andhra Pradesh

Coronavirus Outbreak: Allow small shops to open, compensate loss of daily income, FRAI urges govt

The Federation of Retailer Association of India (FRAI) on Monday urged the government to let small shops open immediately, as daily income flow of petty retailers has stopped completely since the lockdown, and sought compensation for their income losses

Oil climbs more than $1 a barrel as OPEC, allied producers agree record output cut; gains capped amid coronavirus concerns

Total global oil supply cuts could come to 20 million barrels per day, around 20 percent of global supply, Kuwait’s oil minister said.

Govt disburses Rs 15,841 cr to 7.92 cr farmers under PM-KISAN scheme during lockdown

The government has disbursed the first instalment of Rs 15,841 crore to 7.92 crore farmers under the PM-KISAN scheme, since 24 March, the day lockdown was announced to curb COVID-19

Coronavirus Outbreak: Nasscom urges Centre to reimburse 'paid leave' given to staff during lockdown

IT and ITeS industry body Nasscom has urged the Centre to reimburse the payroll cost of employees who were on "paid leave" on account of any COVID-19 related lockdown measures till 31 March, 2021, among other concessions and facilities

Coronavirus Outbreak: Petrol pump operators seek financial support as losses mount on falling fuel sales

With coronavirus eviscerating demand, petrol pump operators on Friday said per pump sales have fallen to less than one-tenth, leading to heavy losses in establishment and employee cost

Coronavirus Outbreak: Exports sector may witness 15 million job losses, increase in NPAs, says industry body

About 15 million people face job losses in India's exports sector following cancellation of over half of the orders and gloomy forecast for global trade due to the Covid-19 pandemic, exporters' body FIEO said on Friday

Coronavirus Outbreak: Dabur group commits Rs 21 crore in fight against COVID-19

Homegrown Dabur group on Tuesday pledged Rs 21 crore to support the relief efforts and help the immediate needs of people affected from the COVID-19 pandemic

Coronavirus Outbreak: Which sectors will bounce back, which will take time post-lockdown, experts weigh in

Sectors that depend on people's behaviour would take the longest time to recover after the end of the lockdown period, while those curbed by the government to contain the spread of coronavirus are set for a bounce-back immediately after the restrictions are removed, say experts

MFs garner over Rs 1 lakh cr in FY20 with big bets on SIPs amid broader market witnessed extreme volatility

Investors are preferring SIP option for investing in mutual funds, as the industry garnered over Rs 1 lakh crore through this route in 2019-20, up 8 percent from the preceding fiscal, even as the broader market witnessed extreme volatility amid concerns over the impact of coronavirus pandemic

Coronavirus Outbreak: Fall in productivity single biggest concern among many firms, reveals EY survey

As many as 72 percent of organisations believe the impact of coronavirus pandemic will be felt beyond six months and the single biggest concern for continued remote working is fall in productivity, according to a survey by consultancy and advisory services provider EY

Coronavirus Outbreak: Govt allows partial withdrawal for NPS subscribers for covering expenses related to treatment of COVID-19

The Pension Fund Regulatory and Development Authority of India (PFRDA) on Friday said NPS subscribers will now be allowed partial withdrawal for covering expenses related to treatment of COVID-19

Coronavirus pandemic 'severe demand shock' for Indian economy; will moderate GDP growth: D&B report

The coronavirus pandemic is a "severe demand shock" for the Indian economy and could lead to further moderation in the country's GDP growth as the coronavirus-induced lockdown is causing significant disruption across multiple sectors, says a report

Coronavirus Outbreak: EPFO settles 1.37 lakh PF withdrawal claims worth around Rs 280 cr to ease lockdown woes

Retirement fund body EPFO on Friday said it has settled 1.37 lakh provident fund withdrawal claims worth Rs 280 crore to provide relief to subscribers during the lockdown

Coronavirus Outbreak: BSE cautions market intermediaries against malicious cyber attacks

Leading stock exchange BSE has cautioned market intermediaries against malicious cyber attacks amid increased usage of mobile phones and tabs in the wake of lockdown to contain the COVID-19 pandemic

Coronavirus Outbreak: ICRA maintains negative outlook for construction sector for near term

Ratings agency ICRA has maintained a negative outlook for the construction sector for the near term, with revenues and order flows being significantly impacted in Q1 of the current fiscal due to the COVID-19 crisis

Coronavirus Outbreak: Gross state borrowings to touch Rs 7.8 lakh cr in current fiscal, says ICRA

ICRA has said states with the higher patient count, returning migrant labour, as well as a greater dependence on GST compensation, will face the sharper risk of fiscal slippages this fiscal

Coronavirus Outbreak: Piyush Goyal hears out industry reps, says FinMin will take 'balanced, nuanced approach' to issues

Union Minister Piyush Goyal on Thursday told trade and industry representatives that all their issues and feedback are being forwarded to the finance ministry, which he says will take a "balanced and nuanced approach" to their problems in view of coronavirus situation

Coronavirus Outbreak: IndiGo to suspend meal service for some time, will fill only 50% seats in airport buses post-lockdown

Once the coronavirus lockdown is over in India and commercial passenger flights are permitted again, IndiGo will deep clean its aircraft more frequently, stop in-flight meal service for a brief period and will fill the maximum 50 percent seats in airport buses, airline's CEO Ronojoy Dutta said on Friday

Coronavirus Outbreak: IMF anticipates sharpest negative economic growth fallout since Great Depression

The year 2020 could see the worst global economic fallout since the Great Depression in the 1930s with over 170 countries likely to experience negative per capita income growth due to the raging coronavirus pandemic, IMF Managing Director Kristalina Georgieva said on Thursday

Investors' wealth jumps Rs 3.98 lakh cr as stocks rally amid hopes of second stimulus package from govt

Investor wealth on Thursday climbed Rs 3,98,934.79 crore after markets rallied amid hopes of a second stimulus package from the government