Economy News - Page 30

Coronavirus leaves private healthcare sector in financial distress, in need of stimulus: FICCI-EY study

The private healthcare sector in the country is witnessing an unprecedented slowdown due to the outbreak of Covid-19 in India and the resultant lockdown, according to a FICCI-EY study

Coronavirus Outbreak: Aviation ministry likely to come up with guidelines on refunds for cancelled flight tickets

The Civil Aviation Ministry on Thursday said it is deliberating upon forming a set of guidelines on refunds for flight ticket cancellations due to coronavirus lockdown

Coronavirus Outbreak: PepsiCo partners CII to serve 2 million meals in Punjab, Haryana, Rajasthan

Food and beverage major PepsiCo India on Thursday joined hands with industry body CII to provide two million meals to the marginalised communities in Punjab, Haryana and Rajasthan

DCB Bank sees significant jump in foreign remittance services on coronavirus pandemic

DCB Bank has witnessed a significant jump in its foreign remittance services on the coronavirus outbreak, specially for education purposes, as parents want to ensure their children abroad have sufficient money to sustain themselves in the situation of a lockdown

Coronavirus Outbreak: Asia to see zero percent growth in 2020, worst performance in 60 years, says IMF

Asia is expected to witness zero percent growth in 2020 due to COVID-19 pandemic, its worst growth performance in almost 60 years, but still the world's largest and most populous continent is likely to fare better than other regions in terms of activity, the International Monetary Fund (IMF) has said

Govt sets foodgrain production target at record 298.3 mn tons for 2020-21 crop year on hopes of normal monsoon

The agriculture ministry aims to increase foodgrain production by 6.35 million tonnes to record 298.3 million tonnes in the 2020-21 crop year riding high on hopes of normal monsoon

Coronavirus Outbreak: Real estate industry sentiment plunges to record low during January-March quarter, survey says

The real estate industry sentiment plunged to an all-time low during January-March as stakeholders turned pessimistic, foreseeing an adverse impact of the Covid-19 pandemic on demand-supply and liquidity in the market, a survey showed

Gold imports dip 14% to $28.2 bn during 2019-20; gems and jewellery exports decline 11% to $35.8 bn

Gold imports, which have a bearing on the country's current account deficit (CAD), fell 14.23 percent to $28.2 billion during 2019-20, according to commerce ministry data

Coronavirus Outbreak: IMF proposes to deploy full $1 trillion lending capacity to support countries battling COVID-19

Describing the COVID-19 pandemic as "a crisis like no other," IMF head Kristalina Georgieva has said the international lender plans to use all its $1 trillion lending capacity to support countries across the world battling the deadly outbreak

Rupee tanks 36 paise to all-time low of 76.80 in early trade on weak domestic equities, coronavirus concerns

The Indian rupee tanked 36 paise to an all-time low of 76.80 against the US dollar in opening trade on Thursday, tracking weak domestic equities and sharp rise in coronavirus cases in the country

Coronavirus Outbreak: Railways to refund Rs 1,490 cr for cancellation of 94 lakh ticket bookings

Indian Railways will forgo around Rs 1,490 crore in revenue as it is refunding the amount towards cancellation of a whopping 94 lakh ticket bookings made by passengers prior to the imposition of the nationwide lockdown to prevent the spread of coronavirus

Reserve Bank announces fourth tranche of Rs 25,000-cr long-term repo operation on 17 April

In a bid to provide additional liquidity to the system hit by the coronavirus outbreak, the Reserve Bank of India (RBI) on Wednesday announced the fourth tranche of targeted long term repo operation (TLTRO) of Rs 25,000 crore for a three-year tenor

India has less fiscal room to support economy; rise in debt-GDP ratio to weaken credit profile: Fitch Ratings

The Indian government has less fiscal room to support the economy compared to many of its peers and the country's credit profile would weaken if a wider fiscal deficit increases the debt-GDP ratio, Fitch Ratings said on Wednesday

Coronavirus Outbreak: EPFO defers March dues payment till 15 May; provides relief to 6 lakh firms, 5 cr subscribers

Retirement fund body EPFO on Wednesday deferred payment of March contributions till 15 May to provide relief to 6 lakh firms and over 5 crore subscribers in the wake lockdown to contain COVID-19

Lockdown 2.0 guidelines: Industry backs move, calls for reopening export sectors from 20 April

India Inc on Wednesday backed the government's move to allow industrial units located in rural areas to function from 20 April, and said it will ensure preventive measures for Covid-19 while restarting economic activities

Coronavirus Outbreak: Gautam Adani says Indian economy will bounce back from lows inflicted by COVID-19

Billionaire Gautam Adani on Wednesday exuded confidence that the Indian economy would bounce back from the downturn caused by the COVID-19 outbreak, saying it might take time but it is possible

I-T refunds worth Rs 4,250 cr issued in a week; to be credited in 5-7 days in taxpayer bank account: CBDT

The Income Tax department has issued over 10.2 lakh refunds worth Rs 4,250 crore within a week, the Central Board of Direct Taxes (CBDT) said on Wednesday

Wipro Q4 net profit slips 6% to Rs 2,345 cr; suspends revenue guidance amid uncertainty over coronavirus

IT major Wipro Ltd on Wednesday posted nearly 6 percent decline in consolidated net profit to Rs 2,345.2 crore for January-March 2020 quarter, and suspended revenue growth guidance due to uncertainty in the external environment amid coronavirus pandemic

Lockdown: Realtors hail govt move to allow construction with limited labour force, say raw materials availability an issue

The real estate industry on Wednesday said the government''s decision to allow construction on those projects where labourers are already available on sites will solve the problem of migrant daily wage workers but said availability of raw materials may be an issue

Coronavirus Outbreak: Petrol, diesel demand to pick up as govt allows trucks to ply, some industries to resume ops

Petrol and diesel consumption, which saw its biggest-ever decline in the aftermath of a nationwide lockdown, is likely to pick up in the second half of the month as the government has allowed trucks to ply as well as farmers and industries in rural areas to resume operations after 20 April

Coronavirus Outbreak: Vistara announces compulsory leave without pay for up to 3 days for senior employees

Vistara chief Leslie Thng on Wednesday announced that senior employees will be going on compulsory leave without pay for up to three days between 15 and 30 April as a measure to further conserve the airline's cash flow amid lockdown to combat the COVID-19 threat

Coronavirus Outbreak: BMW Group India pledges Rs 3 cr for battle against COVID-19

BMW Group India on Wednesday pledged Rs 3 crore for the ongoing battle against the coronavirus pandemic

Coronavirus Outbreak: Govt launches call centre to facilitate inter-state movement of agri-commodities during lockdown

Union Agriculture Minister Narendra Singh Tomar on Wednesday launched an all-India level call centre to resolve transportation problems being faced during inter-state movement of agricultural commodities during the lockdown to contain the spread of COVID-19

Coronavirus Outbreak: Banking, insurance operations to continue during extended lockdown, says govt

Issuing fresh guidelines for the second phase of the lockdown, which will be in effect till 3 May, the government on Wednesday said important financial services like banking and insurance will continue to function during the period to help people meet their financial needs

Coronavirus Outbreak: Airlines decline refund to customers for cancelled tickets amid lockdown extension

With the nationwide lockdown extended till 3 May, domestic airlines have again decided not to refund customers in cash for their cancelled flights and instead have offered them rescheduling of tickets for a later date without any additional fee

Coronavirus Outbreak: Agricultural, allied activities including fishery allowed to operate in 2nd phase of lockdown

Agricultural and allied activities including dairy, fisheries as well as tea, coffee and rubber plantation are allowed to function in the second phase of the COVID-19 lockdown, the government said on Wednesday issuing fresh guidelines

Trump names Sunder Pichai, Satya Nadella, four other Indian-Americans to Great American Economic Revival Industry Groups

President Donald Trump has named six Indian-American corporate leaders, including Sunder Pichai from Google and Satya Nadella from Microsoft, to his Great American Economic Revival Industry Groups formed to revive the US economy ravaged by the coronavirus pandemic

Wholesale price inflation cools to 1% in March from 2.26% in Feburary on sharp fall in food prices

The inflation based on wholesale price index (WPI) eased to 1 percent in March from 2.26 percent in February on a sharp fall in food prices in the country

Coronavirus Outbreak: Sa-Dhan urges PM for extension of loan moratorium benefits to MFI industry

Microfinance lenders' umbrella body Sa-Dhan has urged Prime Minister Narendra Modi for an extension of the loan moratorium benefits to the MFI industry in a bid to help small-ticket borrowers, who are at the risk of being pushed into extreme hardships

Coronavirus Outbreak: Fitch Group pledges $50,000 towards Give2Asia Covid-19 relief fund

Fitch Group has said it has pledged $50,000 to Give2Asia to fight coronavirus pandemic