Battle against coronavirus: Maruti ties up with AgVA Healthcare to produce 10,000 ventilators per month
Ratan Tata pledges Rs 500 crore to fight coronavirus
British PM Boris Johnson Tests Positive For Coronavirus
Coronavirus update: Odisha first state to set up 2 hospitals for COVID-19 patients
Coronavirus relief package: Free gas cylinders to Ujjwala beneficiaries for next 3 months
Coronavirus: Big Bazaar delivery services to remain open during 21-day lockdown
CBSE Yet To Make A Decision On Promotion Of School Students
Covid-19 impact: Barclays cuts India's GDP target to 2.5%, fiscal deficit to 5% of GDP
Finance Minister's Top 10 Announcements On Relief Steps Over Coronavirus
Finance Minister extends deadline for GST returns to June 30 from March 31
India's 8th COVID-19 Death In Bengal, Man Had No Travel History
Coronavirus: Supreme Court orders release of prisoners to decongest jails
Coronavirus: Banks cut operations to fight Covid-19; check new timings of SBI, HDFC Bank, ICICI Bank
Coronavirus Cases In India See Biggest Jump In A Day
Coronavirus impact: FM Sitharaman takes stock of key sectors
Banks have Rs 11 lakh crore in coronavirus-hit sectors
10 questions on coronavirus India expects PM Modi to answer tonight
Coronavirus: Demand for tax cuts, relaxed NPA norms, cash transfers grows as economy hits rock bottom
Coronavirus: Karnataka govt pledges Rs 200 crore to fight COVID-19
167 People Suspected To Have Coronavirus Missing In Ludhiana

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

Please Wait...

Share the Opinion Poll with your Friends At


Share the Survey with your
Friends At