-The Hindu Sharper contraction likely in Index of Industrial Production. Output at India’s core sector contracted by 6.5% in March, Commerce Ministry data show, reflecting the early impact of the COVID-19 pandemic and the subsequent nationwide lockdown. The index of eight core sector industries, which form 40% of the weight of items included in the broader Index of Industrial Production (IIP), reflected a contraction in key parts of the economy in March, according...
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Second stimulus: Govt plans targeting based on need, MSMEs to begin with -Aanchal Magazine & Sunny Verma
-The Indian Express PM wary of open-ended provisions: Fund for MSME with guarantee likely. AS the Covid pandemic and the prolonged lockdown batter all sectors of the economy, the government, sources said, is working on a rescue package that, for now, may address the needs of the micro, small and medium enterprise (MSME) segment rather than the larger corporate sector. More than six meetings have been held at the Prime Minister’s Office —...
More »Economic liberalisation and its faults -KM Gopakumar & Ranja Sengupta
-The Hindu The virus reveals how dependence on private sector-led economic growth has proved to be disastrous Dr. Manmohan Singh’s 1991-92 Budget speech marked the beginning of the end of the ‘Licence Raj’ in India. The Budget also announced the reduction of import duties and paved the way for foreign-manufactured goods to flow into India. Following this, most of the manufacturing sector was opened up to foreign direct investment. India’s industrial policy...
More »Coronavirus: Industrial activity can be restarted in at least 15 sectors, says Industries Department
-The Hindu They are key to improve economic activity and liquidity, says Industries Ministry The Commerce and Industries Ministry has called for far-reaching measures to be taken to mitigate the effects of the COVID-19 lockdown, urging the Home Ministry to allow relaxations of the restrictions on a number of industry sectors. In a letter to Home Secretary Ajay Kumar Bhalla on Saturday, Industries Secretary Guruprasad Mohapatra said “more activities with reasonable safeguards must...
More »What economic slump really means for workers -Shiv Inder Singh
-Newsclick.in Punjab is industrialised and its agriculture is mechanised. The state is in the grip of a downturn which has hurt the migrant poor most. The Union Budget is the talk of the town, but the economic downturn is not. The prevailing economic situation has hurt all sectors of the business and economy. One symptom of the downturn is that unemployment has broken a 45-year record. Even if these facts are known,...
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