Economy

Sonia Gandhi to chair opposition meeting over migrants’ plight on May 20

Sonia Gandhi to chair opposition meeting over migrants’ plight on May 20

Congress president Sonia Gandhi will chair the meeting of leaders of opposition parties over the plight of migrant workers and alleged dilution of labour laws. According to report, around 17 opposition parties have agreed to participate in the meeting which will be held via videoconferencing on May 20 (Friday). The Samajwadi Party (SP) and the Bahujan Samaj Party (BSP) have to confirm their participation, sources added. Rendered jobless due to the coronavirus-induced lockdown, which began on March 25, and desperate to get home, thousands of migrant workers…
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Operate more special trains to transport migrant workers: MHA directs states, issues revised SOP

Operate more special trains to transport migrant workers: MHA directs states, issues revised SOP

The Ministry of Home Ministry on Tuesday issued a revised Standard Operating Protocol (SOP) on the movement of stranded workers by trains and buses from one state to other during coronavirus lockdown. The Home Ministry directed states to allow plying of more trains to ferry migrant workers while stressing that more clarity is needed about the departure of trains or buses.  “Lack of clarity about the running of trains, buses coupled with rumours is causing unrest amongst migrant workers,” the MHA said in its letter to the…
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Aatmanirbhar package, says its only 1.6% of GDP, not 10%

Aatmanirbhar package, says its only 1.6% of GDP, not 10%

Hours after Union Finance Minister Nirmala Sitharaman announced the fifth and final tranche of the stimulus package in New Delhi on Sunday (May 17, 2020), senior Congress leader Anand Sharma questioned the government's Aatmanirbhar Bharat package claiming the announcments are worth Rs 3.22 lakh cr and not Rs 20 lakh crore as earlier announced by Prime Minister Narendra Modi. Sharma also pointed out that Rs 3.22 lakh crore is only 1.6% of India's GDP not 10% and posed a challenge to the government to disprove him. "I'm questioning…
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Economic package 5th and final tranche – Highlights

Economic package 5th and final tranche – Highlights

Following are the highlights of the fifth and final tranche of the Rs 20 lakh crore comprehensive economic package announced by Finance Minister Nirmala Sitharaman to tide over the COVID-19 crisis: * Additional Rs 40,000 cr allocation for MGNREGS to provide employment boost * Public expenditure on health to be increased * Ramp up health centres in rural and urban areas for any future pandemics * Suspension of fresh initiation of insolvency proceedings up to 1 year * Threshold to initiate insolvency proceedings raised to Rs 1…
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Structural reform measures will surely boost India’s economy, further efforts towards Aatmanirbhar Bharat: Amit Shah

Structural reform measures will surely boost India’s economy, further efforts towards Aatmanirbhar Bharat: Amit Shah

Shah said, "Rs 50,000 crores for infrastructure development in the coal sector and introduction of commercial mining is a welcome policy reform which will bring more competition and transparency". Lauding the slew of structural reform measures, announced by Union Finance Minister Nirmala Sitharaman, Union Home Minister Amit Shah on Saturday thanked Prime Minister Narendra Modi and FM Sitharaman for the landmark decisions adding that it would surely boost India's economy and further the efforts towards Aatmanirbhar Bharat. He asserted that PM Modi's mantra of 'Reform, Perform and…
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Coronavirus COVID-19 lockdown 4.0 may be announced on May 16, MHA likely to issue new guidelines: Sources

Coronavirus COVID-19 lockdown 4.0 may be announced on May 16, MHA likely to issue new guidelines: Sources

The lockdown, enforced on March 25, was originally to end on April 14. It was then extended to May 3, and then again to May 17. The fourth phase of the coronavirus COVID-19 lockdown is likely to be announced on May 16 and it will be completely different and new from the previous lockdowns, sources said on Friday. It will also be different as Prime Minister Narendra Modi will not address the nation but only new guidelines will be issued, added the sources. The guidelines may be…
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Rs 1 lakh crore fund to be created for agriculture infrastructure projects

Rs 1 lakh crore fund to be created for agriculture infrastructure projects

Union Finance Minister Nirmala Sitharaman on Friday (May 15) announced Rs 1 Lakh crore fund for agriculture Infrastructure for farmers, saying, "Financing facility of Rs 1,00,000 crore will be provided for funding agriculture infrastructure projects at farm-gate and aggregation points. The impetus for development pf farm-gate and aggregation point, affordable and financially viable post-harvest management infrastructure." As she said at the beginning of her media briefing that the third tranche will focus on agriculture, fisheries, dairy, food processing, and allied activities, agri-infrastructure related points are given below: …
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Rs 20 lakh crore relief package, 5 pillars and lockdown 4.0: Highlight of PM Narendra Modi’s speech

Rs 20 lakh crore relief package, 5 pillars and lockdown 4.0: Highlight of PM Narendra Modi’s speech

Prime Minister Narendra Modi on Tuesday (May 12) while addressing the nation on the COVID-19 crisis said that we are in a state of war against the coronavirus. Here are some of the top quotes of PM Narendra Modi from today's address:  One virus has destroyed the world.This is an unprecedented crisis; we have to protect ourselves and move ahead as well.Making India self-reliant is only way to make 21st century belong to India.India didn't produce any PPE before COVID-19 crisis and manufactured very few N-95 masks;…
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PM Narendra Modi to address the nation at 8 pm on May 12 after meeting with state chief ministers

PM Narendra Modi to address the nation at 8 pm on May 12 after meeting with state chief ministers

Prime Minister Narendra Modi will address the nation at 8 pm on Tuesday (May 12) after his marathon meeting with the chief ministers of states and Union Territories on Monday (May 11). "PM Narendra Modi will be addressing the nation at 8 PM this evening," tweeted PMO. During the meeting, PM Modi had asked the states to send in suggestions on the coronavirus lockdown exit strategy and dropped hints that the Centre could ease lockdown rules after May 17. Requesting all the Chief Ministers for specific feedback…
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Diamond Markets Reflect Uncertain Outlook

Diamond Markets Reflect Uncertain Outlook

RAPI for 1ct. up 0.2% in April Mumbai, Maharashtra, India: Business Wire India Diamond trading was restricted in April due to the coronavirus pandemic and global lockdowns. Sentiment was weak, with dealers frustrated by the inability to resume business. The industry was focused on the Far East as China and Hong Kong started to open, while the outlook for the US remained uncertain. The RapNet Diamond Index (RAPI ) for 1-carat diamonds was basically flat for the month due to the low volume of trade. The index…
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