Former RBI Governor Raghuram Rajan has said that India can take global leadership role in fight against the coronavirus. Responding to former Congress chief Rahul Gandhi on one of his questions, Rajan said India would needs Rs 65,000 crore to help the poor in the times of pandemic and considering its total GDP, it can afford to do that.
Mortgage lender HDFC on Saturday said it has acquired 6.43 per cent stake in debt-trapped Reliance Capital by invoking pledged shares.
Business optimism for the ongoing April-June quarter has slumped to its record low level, reflecting the plunge in business sentiment owing to the heightened uncertainty around the impact of Covid-19, according to a report. The Dun & Bradstreet Composite Business Optimism Index stood at 49.40 per cent for Q2 2020 (April-June), a record low and worse than during the 2009 financial crisis. The index registered a decrease of 37 per cent as compared to the year-ago period.
The global health crisis is taking a nasty political turn with tensions worsening between governments locked down to keep the coronavirus at bay and people yearning to restart stalled economies and forestall fears of a depression.
PM Narendra Modi said that coronavirus situation in states will be strictly monitored till April 20 and a decision to reopen economic activities will be taken based on those inputs. States, where there are no hotspots could get a green signal from the govt to resume key economic activities. PM Modi also warned that this permission will be withdrawn if proper measures are not followed.
Indian economic growth is likely to plummet to a multi-decade low of 1.6% in fiscal year 2020-21 due to COVID-19 pandemic and ensuing measures like lockdowns and social distancing
Prime Minister Narendra Modi on Monday asked Union ministers to prepare a plan for their respective ministries to contain the economic impact of COVID-19 on war footing, while asserting that this crisis is an opportunity to boost the 'Make-in-India' initiative and reduce dependence on other countries.
In the last one month amid coronavirus pandemic, we have seen a large fall in the equity markets around the world. Many market experts say that like many other crisis this too will pass and come to an end, but most important for the investors to keep in mind post the ongoing impact in the markets. Well read out our piece on markets with the help of experts views.
A day after Finance Minister announced Rs 1.7 trillion economic package for country, the Reserve Bank of India governor Shaktikanta Das announced bold measures cut lending rates by slashing repo rate and reverse repo rate by massive 70 bps and 90 bps respectively. He also announced a 3-month moratorium on loans.
The human and economic toll of the lockdowns against the coronavirus mounted Thursday as India struggled to feed the multitudes, Italy shut down most of its industry, and a record-shattering 3.3 million Americans applied for unemployment benefits in a single week.
Sitharaman today announced an economic package that will benefit migrant workers, urban and rural poor which will be known as the Prime Minister Gareeb Kalyan scheme.
As coronavirus cases continue to surge across the world, Microsoft founder and philanthropist Bill Gates has said countries that do a good job in testing of the deadly coronavirus and shut down could bounce back both economically as well as on the health front in weeks.
In a drastic measure to stem any major disruption to the US economy as a result of the coronavirus outbreak, the Federal Reserve has cut its benchmark interest rate to almost zero and said it would buy USD700 billion in bonds.
The GST Council on Saturday discussed the impact of coronavirus on the economy, Finance Minister Nirmala Sitharaman said.
The Indian economy was suffering from "coronavirus", the Congress said on Thursday and demanded a detailed statement in Parliament from Prime Minister Narendra Modi on the economic decline of the country.
The Australian government on Thursday unveiled an economic stimulus package of AU$17.6 billion ($11.4 billion) to help mitigate the impact of COVID-19 amid fears of a recession.
A gyrating stock market is seizing headlines as the coronavirus threatens corporate profits and economic growth. Yet it's in the normally temperate bond market, where companies go to borrow money, where the gravest dangers may lurk.
Housing prices in Gurugram and Noida fell 7 per cent and 4 per cent, respectively in the last five years on demand slowdown, huge delays in execution of residential projects and many big developers turning bankrupt, according to News Corp-backed realty portal PropTiger.
"No Yes Bank," Congress leader Rahul Gandhi said on Friday, taking a dig at the BJP-led government over the moratorium placed on Yes Bank, and alleged that Prime Minister Narendra Modi and his "ideas" had destroyed the country's economy.
With close to 3,000 deaths, more than 83,000 cases, several cities on lockdown, Coronavirus outbreak is beginning to look more like a worldwide economic crisis.
Top News
Latest News
