Announcing the fifth and final tranche of government's Rs 20 lakh crore economic stimulus package, Finance Minister Nirmala Sitharaman on Sunday said that the government has allocated additional Rs 40,000 crore over and above Rs 61,000 crore budgeted for MGNREGA to generate more jobs.
Finance Minister Nirmala Sitharaman on Sunday announced measures taken by the government to boost economic activity in 7 sectors amid COVID-19 outbreak situation in the country.
Congress leader Rahul Gandhi on Saturday said the Centre should stop acting like a "money lender" for its children by giving them credit instead of cash, and asked Prime Minister Narendra Modi to reconsider the COVID-19 economic stimulus package.
Finance Minister Nirmala Sitharaman addressed a press conference on Friday to announce the third tranche of government's economic stimulus package.
For middle-income group for people between the income of Rs 6 lakh to 18 lakh, the government has extended the credit-linked subsidy scheme up to March 2021; 2.5 lakhs middle income families to benefit during 2020-21, Finance Minister Nirmala Sitharaman said.
Earlier on Wednesday, Sitharaman laid out details of Modi government's Rs 20 lakh crore economic stimulus package which included Rs 30,000 crore Special Liquidity Scheme for non-banking financial companies, microfinance companies, housing finance companies; Rs 45,000 crore liquidity infusion through a Partial Credit Guarantee Scheme 2.0 for NBFCs.
Gujarat Chief Minister Vijay Rupani on Monday said that the economic activities in the country can not be blocked for a long time and the lockdown should be limited to containment zones with strict implementation.
Seeking immediate support for the Indian economy hit by COVID-19, industry body Ficci said an additional fiscal support of Rs 4.5 lakh crore is required at the current juncture besides a quick release of Rs 2.5 lakh crore stuck in refunds and other government payments.
The US economy will bounce back and have a "great year" in 2021 despite receiving the "biggest negative shock" due to the coronavirus pandemic that has left a record 33 million workers jobless, senior Trump administration officials have said.
The review meeting of Finance Minister Nirmala Sitharaman with CEOs of public sector banks (PSBs) scheduled for Monday has been postponed.
Madhya Pradesh Chief Minister Shivraj Singh Chouhan announced wide-ranging changes in labour laws to stimulate economic activity in the state.
Automobile makers are in for tough period at least in the short to medium term as the period of poor sales is expected to continue well into the first half of current fiscal year with only a moderate recovery thereafter.
Anxious to spur an economic recovery without risking lives, President Donald Trump on Sunday insisted that “you can satisfy both” — see states gradually lift lockdowns while also protecting people from the coronavirus pandemic that has killed more than 60,000 Americans.
Prime Minister Narendra Modi on Thursday held a "detailed" meeting to discuss the potential economic reforms in the mines and coal sectors to give a boost to the economy in the backdrop of the COVID-19 pandemic.
Prime Minister Narendra Modi on Thursday held a "comprehensive" meeting to discuss strategies to attract more foreign investments into India as well as to promote local investments in order to give a boost to the economy against the backdrop of the COVID-19 pandemic.
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.
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