Centre will give govt employees cash vouchers instead of LTC to stimulate economy, says Nirmala Sitharaman
Finance Minister Nirmala Sitharaman also announced additional capital spending and Rs 12,000 crore, 50-year interest-free loan to states.
Only 33% of CEOs are confident of the economy and 42% are optimistic about growth of their companies, as against 78% and 84% in the January survey, respectively
84% construction workers in Pune, Ulhasnagar not paid in lockdown: Survey shows devastating impact of GDP contraction on migrant labourers
The construction industry in India is the second largest employer after agriculture and has an industry size of Rs 10.5 trillion. According to the Confederation of Real Estate Developers Association of India, prior to the lockdown, there were 20,000 ongoing construction projects in the country and work was being undertaken in as many as 18,000 sites.
Given the length of the pandemic, more direct cash transfers to the poorest households, especially in urban areas that do not have access to MNREGA, is warranted.
The Congress leader had earlier said that demonetisation was the first attack on the informal sector of the economy
India's GDP contraction worse than any other G20 nations, says Gita Gopinath; Congress links slump to demonetisation
According to Gopinath, India's gross domestic product saw a contraction of 25.6 percent quarter-on quarter (QoQ) in the April-June period
The former Congress chief said that the decision to scrap high-value currency notes was an attack on the country's poor, farmers, labourers and small shopkeepers
Congress has been urging the Centre to scale up the MGNREGA scheme and expand its scope to meet the growing work demand in the wake of the coronavirus crisis
Chidambaram slams Centre over state of economy, says telecom and aviation sectors on 'verge of collapse'
The former finance minister's remark comes a day after telecom company Bharti Airtel posted a net loss of Rs 15,933 cr in the first quarter of FY 2020-21
The former PM's centenary celebrations should be an occasion to reflect on Congress' blind supplication to the Nehru-Gandhi dynasty rather than an empty exercise in symbolism
The RBI governor said preserving long-term stability of the financial system is the key to recovery of economic growth
'Ask the analysts': S Jaishankar rebuts Rahul Gandhi's criticism of India's foreign policy, economy on Twitter
Rahul Gandhi alleged that under the Modi dispensation India has been "disturbed and disrupted" with regard to its foreign policy and economy
At $0.6 bn, India records current account surplus in fourth quarter of FY20 for first time in 13 years, says RBI
The RBI data also showed the current account deficit for the October-December quarter of fiscal 2019-20 was revised to $2.6 billion or 0.4 percent of GDP from $1.4 billion earlier.
COVID-19 aftermath: Funding divide among Indian startups makes survival difficult; while some bag millions, others struggle
Funding in Indian tech-led startups rose by 14 percent in the first quarter of 2020 as compared to the same period last year, yet only 16 percent startups and SMEs have cash to survive for more than three months, revealed a recent survey
India-China border tensions: Call for ban on Chinese goods ignores economic realities and will hurt Indian companies
To stop drinking tea and eating momos – because Chinese soldiers have occupied a section of Indian territory in Ladakh – is surely not going to cause much distress to China. Nor will uninstalling TikTok and Zoom cause them to flee Galwan valley.
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Govt launches Rs 5,000-cr special credit facility for street vendors; here's all you need to know about Rs 10,000 loan scheme
In order to revive businesses of street vendors that have taken a serious hit due to the COVID-19 lockdown, the Centre has launched a special micro-credit facility amounting to a total of Rs 5,000 crore that will provide them Rs 10,000 as initial working capital
In many ways the Modi Sarkar 2.0 shouldn’t have had the blood, sweat and tears of the most vulnerable people it is meant to serve.
COVID-19 impact: Informal economy workers excluded from most govt measures, be it cash transfers or tax benefits
Like demonetisation, the current lockdown has exposed millions of workers and their families to starvation, hunger, death and very bleak future prospects.
Industry body CII on Friday suggested that the government should immediately announce a stimulus package of Rs 15 lakh crore, or 7.5 percent of the GDP, observing that the COVID-19 pandemic has led to "deep distress" in the Indian economy