Up to 95 per cent of units in the Noida-Greater Noida mega industrial zone are currently shut.
Even as the industrial cycle has ground to a halt during the 21-day lockdown, the industry has been hit hard by foreign orders from major clients in the US and Europe being cancelled. Also, a sudden lack of labour has crippled the sector because of a mass exodus of workers from industrial units to the hinterland.
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.
The Customs clearance required for moving equipment like laptops, desktops, etc out of SEZ units was delaying things as the clearance had to be taken in person after a first level of approval online.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
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.
Across Yes Bank branches, the busiest people were the relationship managers, trying to soothe nerves. Many were seen advising clients the situation was only temporary and that their money was safe.
CAIT has attributed its displeasure to the economic downturn, and indifferent attitude of ministers/officials towards domestic trade.
The issue is set to be discussed early next week as the commerce department meets with industry bodies to discuss the widening supply gap for key imports.
The India meteorological department has stated that day temperatures are likely to be above normal by 0.5 degree Celsius, reports Sanjeeb Mukherjee.
While 100 per cent FDI is allowed in single-brand retail, if the foreign investment exceeds 51 per cent, the 30 per cent mandatory local sourcing norm kicks in.
Trump had said a comprehensive trade agreement with India would take much longer to finalise than earlier expected.
India is expected to harvest 291.95 mt of foodgrain in 2019-20
While many are getting stranded because of lack of clarity regarding the visa rules following the novel coronavirus outbreak, others are stranded in transit as even OCI cardholders are being turned away
Covering 37 different legislations such as the Partnership Act of 1932, Insolvency and Bankruptcy Code, and laws on environmental protection, consumer protection and labour interests, the recommendations have been shared with Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.
A string of measures includes specific provisions in rules governing anti-dumping, safeguards, and basic Customs duties.
This is the highest in the past five years and almost 24 per cent more than last year.
Finance Minister Nirmala Sitharaman has brought down the budgetary allocation for the fertiliser subsidy for FY21 to Rs 71,309 crore, from the RE of Rs 79,998 crore for FY20, while increasing food subsidy to FCI through "ways and means advance" to Rs 50,000 crore for FY21, from Rs 36,000 crore in RE for FY20, and under the National Food Security Act (NFSA) to Rs 77,982 crore, from Rs 75,000 crore.
With exporters' claim for over five months still pending, liquidity has been wiped out and the process of finalising new contracts has been held up.
The Asean secretariat hopes the meet may be able to iron out existing wrinkles raised by India. Since there had been no significant progress on the matter over the past two years on most issues, New Delhi is yet to decide on the invite.
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