21.8% of SBI customers avail moratorium facility on loan EMIs
15 Days Optimum Time For States To Transport Migrants Home: Top Court
After Telangana, now Karnataka launches COVID-19 tracking platform developed by NASSCOM
Coronavirus impact: Govt may soon allow home delivery of petrol, CNG
Lockdown 5.0: Amit Shah meets PM Modi to discuss way forward; guidelines to be issued soon
Coronavirus in India: 7,466 cases in 24 hours, highest 1-day jump, death toll at 4,706; Maharashtra worst-hit
Lockdown 5.0: Centre may let states decide on restrictions post-May 31
SBI cuts fixed deposit rates by 40 bps; check out new rates
Coronavirus vaccine update: India to begin human trial in next six months, says ICMR
India's GDP to contract 6.8% in FY21 due to coronavirus lockdown: SBI
Himachal Pradesh Extends Lockdown Till June 30
Coronavirus vaccine update: After Moderna, CanSino Biologics claims positive results in early trials
No Exam For Remaining Subjects Of Class 10, Class 12 Exam In June: Madhya Pradesh Chief Minister
International Flights May Start "Even By Middle June": Aviation Minister
Pakistan Plane Crash: PIA Flight With 99 On Board Crashes In Karachi Minute Before Landing
RBI rate cut: For home loan of Rs 50 lakh, EMI to reduce by this much
Coronavirus impact: MSMEs demand loan moratorium till March 2021
Domestic Flights To Resume From Monday In "Calibrated Manner", SOPs Soon
Trump tells WHO to prove 'independence' from China within 30 days; warns freeze on funding
New EPF rules rolled out: 5 things to know

Latest Posts

Coronavirus impact: FM Sitharaman takes stock of key sectors

latest news update

Finance Minister Nirmala Sitharaman today met Minister for Animal Husbandry, Dairy and Fisheries Giriraj Singh to assess the economic impact of COVID-19. During the meeting, Finance Secretary, Secretary DEA, Secretary (AHD) and Secretary (Fisheries) were also present. The FM is also scheduled to meet ministers of civil aviation, MSMEs and tourism today.

The special COVID-19 economic task force announced by Prime Minister Narendra Modi on Thursday will likely work on an economic package for the sectors most affected by the coronavirus outbreak, including informal sectors. He said the task force would ensure that all necessary steps were taken to reduce the economic difficulties arising out of the crisis. He also urged the FM-led task force to implement them effectively.

He said this was a difficult time and the need of the hour was to take stock of economic interests of everyone. "I request the business world and high-income groups to that, if possible, keep in mind the economic interests of those who serve you," said the PM.

As per experts, the task force will have to take drastic steps like relaxation in NPA (non-performing assets) norms, deferral of tax payments and the announcement of income support to the people working in the unorganised sector.

Notably, travel, tourism and hotel industries are some of the worst-affected sectors due to travel bans, social distancing and suspension of business activities. While other related sectors like fuel minerals, electricity and water and rubber, plastic, coke and petroleum products, etc are also likely to be impacted adversely.

Coronavirus outbreak has disrupted the global economy, and countries, trade blocs are taking fiscal measures to overcome the crisis. While India is yet to come up with a rescue package in wake of coronavirus crisis, major economies of the world have announced billions of dollars worth bailout packages to offset losses due to the COVID-19's outbreak.

The US alone has set aside over $1 trillion in a bid to protect the economy from COVID-19. UK, Switzerland, China, Sweden, Austria, and Japan, have also taken fiscal measures, including offering support to local businesses.

×

Alert Message

Ok
Please Wait...

Share the Opinion Poll with your Friends At

Ok

Share the Survey with your
Friends At

Ok
×

Statistics

Ok
No
×

Statistics

Ok