'At a time when the economy is depressed, a pandemic is raging, and the Chinese are making noises on the border, the NRC could be resuscitated.'
'The people of Jammu and Kashmir are your own people. Do not use them as cannon fodder in your laboratory.'
Parle Agro, which sells beverages such as Frooti in small tetra packs, has already started importing paper straws. Dabur India, which sells its fruit juices in tetra packs under the brand Real, is also considering importing paper straws.
They say that a stimulus package may not be necessary because, unlike last year's total lockdown, public transport, including the railways and airlines, is running and the restrictions on movement are localised and, in some cases, are partial rather than total.
'Instead of wailing about the absence of tax benefits, the private sector should press for an early implementation of the package of measures,' advises A K Bhattacharya.
Later, there may be some tax relief aimed at the middle class and measures to benefit the sectors worst hit by Covid-19 and the resultant nationwide lockdown.
Of the Rs 20-lakh-crore package that Prime Minister Narendra Modi announced to defend the economy against coronavirus disruptions, fresh support may be only around 60 per cent of the offer as it counts the first financial stimulus and liquidity support that Reserve Bank has given already, and will overburden the bond market, says a report.
Pelosi, 80, secured 216 votes in a tight contest against Republican Kevin McCarthy, who got support from 209 Congressmen, after Democrats lost 11 seats in the November elections to command a narrower 222-212 majority.
'Let us all keep calm and face this medical emergency unitedly.' 'Our top priority is to fight the pandemic and win this war.'
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
Thomas Isaac has been in and out of the national news in his role as Kerala's finance minister since 2018 for various path-breaking tax initiatives. But it is 2020 that he has become more prominent, principally in the GST council.
The approval for provisioning of Rs 20,000 crore as subordinate debt to provide equity support will benefit 2 lakh stressed MSMEs.
'Political parties are following the Divide and Rule policy to break the unity of farmers.'
While most economies contracted in the second quarter of 2020, the Chinese economy grew by 3.2 per cent.
The Congress leader said a 'storm' was brewing on the economic front that will cause damage and hurt many.
Interestingly, in his entire remarks, Modi never once mentioned regional security, Ambassador M K Bhadrakumar points out.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
In a letter to the prime minister, Tharoor said the country was at a "critical stage" in its campaign against the virus and expert-level groups such as the Indian Council of Medical Research have pointed out that efforts must be targeted at preventing the third phase of transmission of this virus.
Restrictions were imposed in Jammu and Kashmir capital Srinagar's city centre after leaders of three trade unions were detained to stymie a proposed rally 'to protest the government apathy towards rehabilitation of the September 2014 flood victims'.
Terming the 23.9 per cent fall in economic growth in the June quarter alarming, former Reserve Bank Governor Raghuram Rajan has said bureaucracy should come out of complacency and take meaningful action. The current crisis requires a more thoughtful and active government, he said, adding, "Unfortunately, after an initial burst of activity, it seems to have retreated into a shell."
While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
Small stocks made a dashing comeback in 2020 after delivering negative returns in the last two years as increased retail investor participation in pandemic times saw small-cap index surging up to 31 per cent and outperforming the bigger benchmark gauge. This year turned out to be eventful for the equity market, witnessing bearish and bullish sentiments at different points of time. While the initial part of COVID-ravaged 2020 saw the bears in full force amid concerns related to the pandemic and lockdowns hurting economic activities, bulls made a comeback towards the latter half of the year. As the market swayed with many lows as well as highs, small and mid-cap indices emerged as markets favourites in 2020.
The Institute welcomes the proposal relating to LLP for not charging capital gain tax on conversion of general partnership firm into LLP.
Hasty, ill-conceived steps show how isolated Mamata Banerjee had been from the national political trend. A fascinating excerpt from Sugato Hazra's Losing The Plot: Political Isolation Of West Bengal.
IT and IT-enabled services will be allowed to operate with essential minimum staff only while the rest would work from home.
'There is lack of demand because people have no jobs, and no income.' 'Lakhs of people have lost their jobs and they have no income which has led to no demand in the market.'
Nancy Pelosi's gritty refusal to backtrack on her plans to visit Taiwan is part of who she is.
The government has an opportunity right now to save Indians from deep recession, and in many cases, starvation, notes Kalyan Singhal.
Default on repayments from March 25, the day when the nationwide lockdown began to curb coronavirus infections, would not be considered for initiating insolvency proceedings for at least six months.
RSS-aligned Bharatiya Mazdoor Sangh (BMS) on Monday expressed disappointment over the government's budget proposals with regard to divestment and foreign direct investment, especially in the insurance sector. The BMS, however, lauded the government for its current efforts on the massive vaccination programme, a special scheme for tea workers in West Bengal and Assam, labour oriented push on infrastructure projects in construction sector and development of five major fishing harbours viz. Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat as hubs for economic activities etc. On other Budget proposals, it said in a statement that "mixing the beautiful concept of Aatmanirbhar Bharat with FDI and disinvestment in the Union Budget is disappointing for the employees".
It proposes to bring down the corporate tax from the current 35 per cent to 15 per cent, significantly lower individual tax rates, and eliminate several tax rates like the death tax.
In a nearly 25-minute televised address to the nation, Modi said implementation of the lockdown will be strictly ensured in its second phase and detailed guidelines will be brought out on Wednesday to ensure that outbreak does not spread to new areas.
For states like West Bengal, Bihar, Odisha, Jharkhand and Uttar Pradesh, where migration is high, the return of workers could be as much an opportunity as a liability. All states have launched portals to register migrant workers; additional fields like nature of employment and remuneration in the past 2-3 years are being added to help in skill mapping.
Vice-Chairman Arvind Panagariya said that India is facing a health crisis that has led to a sudden stop of the economy.
'The stimulus message was tagged on to what was meant to be an exhortation to self-reliance, glossing over the near impossibility of merging the immediate requirement of relief for a huge population and a questionable strategy for the future trajectory of a large economy aspiring to superstardom,' points out Shreekant Sambrani.
The commerce ministry is preparing a note for the Cabinet proposing further relief for the rupee-hit exporters, especially those in the job-oriented textiles and leather sectors. The package is likely to be cleared by Commerce Minister Kamal Nath on Tuesday before it goes to the Cabinet Committee on Economic Affairs later this week, he said.
In an affidavit filed by Union finance ministry on behalf of the Union of India, it said that the relief to all borrowers in respect of compounding of interest during the period of moratorium would be admissible to the categories specified irrespective of whether the borrowers had availed the moratorium or not.
'No one in Sri Lanka could afford to stay at home, everyone came onto the street.'
Moody's Investors Service on Friday slashed its estimate of India's GDP growth during the 2020 calendar year to 2.5 per cent from an earlier estimate of 5.3 per cent, on account of the rising economic cost of the coronavirus pandemic.
Sebi's move to curb volatility didn't work for the market as rules were applicable for both long and short positions which makes difficult new long positions while short positions caused more price damage due to lack of liquidity.
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