This is because the bond market has factored in the Rs 4.88-trillion gross borrowing for April-September 2020.
In MP, farmers say sales under new 'Sauda Patrak' method below MSP; Haryana mustard farmers wait for their turn to sell. The annual purchases of major rabi crops in North India largely wheat, mustard and also chana to some extent have been delayed as most cereal mandis were closed in the aftermath of the nationwide coronavirus lockdown.
A recent study shows that more than 100 million people are excluded from the public distribution system because the central government insists on using 2011 population figures to calculate state-wise PDS coverage, which effectively leaves out 100 million people, reports Sanjeeb Mukherjee.
A study by eminent economists, by Jean Drze, Reetika Khera and Meghana Mungikar released few days back shows that more than 100 million people are excluded from the PDS because the central government insists on using 2011 population figures to calculate state-wise coverage under the National Food Security Act.
The stimulus package is expected anytime this week and will be aimed at the urban and rural poor; disadvantaged sections of society; MSMEs and some of the worst-affected sectors.
It is likely the government will divide the country into different zones during the proposed extended period of lockdown and might permit a few services to function in safe zones.
There have been several instances of traders dumping fruits and vegetables outside mandis. Or of farmers dumping produce outside their villages or feeding them to their animals.
The agriculture ministry, in the last few weeks, issued guidelines and letters to states to ensure agriculture and food products reach consumers in a timely manner, while farmers don't have to come to the mandis to sell them.
The Centre and state governments are struggling to restart at least some industrial activity as it becomes apparent that the 21-day nationwide lockdown imposed to check the spread of coronavirus disease (Covid-19) could be extended beyond April 14, and stocks of essential commodities need replenishing across the country. State governments, particularly those like Delhi that witnessed an exodus of migrant workers after the lockdown was announced, say there are not enough labourers in the city to work in factories and warehouses.
The downward surprise in Q2 stemmed from a stronger-than-anticipated drag from gross fixed capital formation and marginal weakness in private final consumption expenditure. In Q3, projection errors emanated mainly from a steep unanticipated contraction in gross fixed capital formation, which was the deepest in the new series of GDP.
Even with the Rs 20,000 crore distributed among states, it will still be a fraction of what they have been demanding in financial support and clearance of pending dues.
This permission was given some time late last month, before the Reserve Bank of India (RBI) on March 31 issued the indicative borrowing calendar for the states for April-June and the one for the Centre for April-September.
'At this point of time, West Bengal is doing better than other states in tackling the crisis. We have a chief minister who herself has hit the streets to do what is to be done, and at the same time ensuring a proper lockdown. She is also trying day and night to set up the requisite infrastructure.'
Many feel that the money from their MPLADS should go directly to a district hospital in their respective constituencies rather than a central fund like PM CARES. Archis Mohan reports.
IMD has said the temperature in April-June across most parts in India is expected to be 0.5-1 degrees Celsius warmer than normal. However, doctors and scientists say they haven't found any direct correlation between the speed of COVID-19 spread and warm weather.
To meet the revised estimates for 2019-20, the central government will have to garner Rs 5.03 trillion in total revenues in March, which has seen the worst phase of the coronavirus pandemic so far and the resultant lockdown.
'This is a period of significant uncertainty, of unknown unknowns.'
Bureaucratic insensitivity gave way to compassion with the state administration, police and passersby joining forces to help the stream of Indians fleeing Delhi.
Officials said there had been no official word or indication from the top yet. The expectation from officials is to do what they can, but it is understood that all fiscal and budgetary targets don't matter anymore.
While the meetings on Friday were preliminary discussions, it is learnt that sectors like tourism; hospitality; aviation; micro, small and medium enterprises (MSMEs); and livestock have sought deferring loan repayments and temporary tax holidays in specific cases to help them tide over the steep fall in economic activity.
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