Sri Lankan President Anura Kumara Dissanayake has announced an economic relief package to mitigate the impact of the West Asia conflict, including fuel price reductions and support from India for petrol and diesel supplies.
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
Civil Aviation Minister Ram Mohan Naidu said the reduction in airport charges is aimed at containing airfare increases and supporting both airlines and passengers.
In a statement, Gandhi urged Prime Minister Narendra Modi and the government to increase the number of testing facilities across the country and make public the details of hospitals and medical facilities through a dedicated portal.
Pakistan has received the second and final tranche of USD 1 billion from Saudi Arabia, completing a USD 3 billion aid package aimed at boosting its foreign reserves, the state bank said.
The finance ministry is working on a second relief package for the Indian economy hit hard by the coronavirus outbreak and the 21-day nationwide lockdown imposed to curb the contagion, sources said. Last month, the government announced a Rs 1.70 lakh crore relief package in the form of foodgrains and cash transfers for the poor and vulnerable section of the society to help them deal with the hardships caused by the lockdown. Now, the government is working on a stimulus to be given to hard-hit sectors of the economy after the lockdown is lifted, sources said, adding that an announcement is expected in the next few days depending on the severity of the pandemic.
The conflict may disrupt Budget 2026-2027 projections, squeezing revenues and raising subsidies, prompting fiscal adjustments and potential reforms, echoing lessons from the Covid-era shock, points out A K Bhattacharya.
The National Commission for Women (NCW) has submitted a comprehensive set of recommendations to various central ministries, outlining a survivor-centric framework to enhance care, justice, and rehabilitation for acid-attack victims.
Haryana Chief Minister Nayab Singh Saini has launched development projects worth 253 crore in Jind district, focusing on irrigation, infrastructure, health, and water supply.
When missiles fly in this region, they are never just aimed at military targets.
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
PSBs have been requested to reach out to MSMEs to provide bill discounting to them against their dues since they suffer the most from shortage of cash.
'Clearly, the next few months will be very challenging for industry.' 'We are clearly in a phase where recovery is a dream.'
'The BJP only talks of Kashmiri Pandits when elections are held.'
The task force, to be headed by Finance Minister Nirmala Sitharaman, will look at measures to limit economic hardship caused by the Covid-19 pandemic, he said in his address to the nation.
GST Reform 2.0, which trims tax slabs from four to two, signals a push for demand-led growth, and together with recent income tax cuts, sets the stage for sustained economic growth, experts said. The Goods and Services Tax (GST) Council on September 3 approved an overhaul of the indirect tax regime by taxing essentials at 5 per cent and other goods at 18 per cent. A new 40 per cent tax will be applicable on luxury and sin items.
'You cannot 'clear' your way to peace.' 'You need intelligence, calibrated force, impartial law enforcement, political neutrality, humanitarian returns and a sustained reconciliation plan.'
'I disagree with much of Modi's politics, but it cannot be denied that in these years in office, he has carved more than a niche for himself in history,' points out Nilanjan Mukhopadhyay, author, Narendra Modi: The Man, The Times.
'...they always address problems superficially, never tackling root causes.' 'Currently, the policy response will focus on immediate relief -- getting people to safety, providing facilities, clearing debris.' 'This is necessary, but once immediate relief operations end, everything returns to 'normal' without addressing underlying vulnerabilities.'
The stimulus package announced by the government for the revival of the pandemic-hit economy has been found to be "inadequate", according to a Parliamentary panel report. The report of the department-related Parliamentary Standing Committee on Industry on the impact of COVID-19 pandemic on micro, small and medium enterprises (MSME) sector has noted that in the process of economic recovery post-first wave of the pandemic, the second wave has even more vigorously ripped the economy particularly the MSME sector. "The committee observes that the stimulus package announced by the government for the economic revival from the pandemic hit economy has been found to be inadequate as the measures adopted were more of loan offering and long-term measures instead of improving the cash flow to generate demand as immediate relief," it said.
To help revive the economy battered by COVID-19, Finance Minister Nirmala Sitharaman on Monday announced a slew of measures, including Rs 1.1 lakh crore credit guarantee scheme for improving health infrastructure, and enhancing the limit under the ECLGS by 50 per cent to Rs 4.5 lakh crore for the MSME sector facing liquidity crunch. Sharing the details of stimulus package, the finance minister said this comprises eight relief measures and other eight measures to support the economic growth. She announced Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors, including health sector, which includes guarantee cover for expansion or for new projects. Besides, she said, additional Rs 1.5 lakh crore limit enhancement done for Emergency Credit Line Guarantee Scheme (ECLGS) scheme.
If a package is announced, it would be the third major initiative by the government to tackle the challenges thrown up by the rapid spread of coronavirus.
Maintaining a rapid pace of the vaccination drive and quickly bridging healthcare infrastructure gaps across both urban and rural areas would emerge as the most sustainable stimulus for durable recovery of the Indian economy, says a report by the department of economic affairs.
Sri Lankan government on Monday admitted that it has run out of cash to buy fuel as pumps in most filling stations across the country have run dry, exacerbating the deepening foreign-exchange crisis that has crippled the island nation's economy.
The Rs 20 lakh crore package includes Rs 1.7 lakh crore package of free foodgrains to the poor and cash to poor women and elderly, announced in March, as well as the Reserve Bank's liquidity measures and interest rate cuts.
Noting that the situation on the ground was "very difficult", the Congress leader said it was high time the prime minister announced a relief package for the poor and a financial stimulus for the economy.
The government has also hiked excise duty by 11 percent, which is in addition to the 6 per cent that was announced in the budget, he said.
The development came as the local fishermen in the North have been protesting for over a week to stop the Indians from entering the Sri Lankan waters for fishing.
The US president had in past expressed dismay with the $2.3 trillion package that Congress passed Monday, which includes $900 billion in coronavirus relief and $1.4 trillion to fund the government until October, conflating the two bills and saying the spending goals were misguided.
By democratising access to finance, empowering women and marginalised groups, and adapting to India's diverse regional landscapes, PMMY has helped fortify the country's grassroots growth engines, says Chief Economic Advisor to the Government of India, V Anantha Nageswaran.
Prime Minister Narendra Modi received a tri-services ceremonial welcome in Colombo, Sri Lanka, marking the first time such an honor has been bestowed upon a foreign leader. The welcome took place at the historic Independence Square, the venue for national day celebrations. Modi's visit comes as Sri Lanka shows signs of recovery from a recent economic crisis, with India playing a significant role in providing assistance. During the visit, both leaders are expected to discuss a range of issues, including defense cooperation, energy, and digital initiatives.
He said the migrants and poor people had great expectations after the prime minister's address to the nation, but sadly...
'I am optimistic about the Budget because of the fiscal discipline the government has committed to.'
The opposition on Sunday asked the Centre to allow discussions in the Parliament on the United States prosecutors' bribery charges against the Adani Group even as Union minister Kiren Rijiju made it clear that the matters to be taken up in the two Houses will be decided by their authorised committees with the consent of the respective Chair.
In Kerala's society, known for its high material standard of living, plunging into a state of having nothing overnight can be terrible for one's social standing and sense of self-esteem. Rehabilitation entails piecing a community back together after a disturbance and while its aim is noble, the act of reassembling will bring alive disparities and inequalities, explains Shyam G Menon.
The government will amend the six-and-a-half-decade old Essential Commodities Act to deregulate food items, including cereals, edible oil, oilseeds, pulses, onion and potato, Finance Minister Nirmala Sitharaman said on Friday. The amendment, besides deregulating production and sale of food products, will provide for no stock limit to be imposed on any produce.
Basil had negotiated the Indian economic relief package to help Sri Lanka tackle the current foreign exchange crisis.
India should take 'measured approach' with stimulus packages to deal with COVID-19 by limiting interventions to the provision of food, shelter and basic necessities of life for all; forbearance on payments of outstanding loans; and extra provision of working capital including what will be necessary to cover outstanding wages from lockdown period to enterprises.
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
Former RBI governor R Gandhi said that the RBI needs to re-introduce a one-time restructuring package and mere moratoriums will not suffice in unprecedented times like the COVID-19 pandemic.
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