-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 —...

Most reports and studies by official agencies, international think tanks and private entities indicate the cataclysmic impact of the coronavirus pandemic on the economy and society. They anticipate that lockdowns imposed by various countries across the globe to reduce the exponential diffusion of COVID-19 (i.e. for flattening the curve by social distancing and quarantines) would adversely affect economic growth and disrupt supply chains in most sectors, on top of causing...

-International Labour Organisation News The COVID-19 pandemic is having a catastrophic effect on working hours and earnings, globally. A new ILO report highlights some of the worst affected sectors and regions, and outlines policies to mitigate the crisis. GENEVA: The COVID-19 crisis  is expected to wipe out 6.7 per cent of working hours globally in the second quarter of 2020 – equivalent to 195 million full-time workers. Large reductions are foreseen in the...

-The Indian Express In the short term, there will be flight to safety of people worried about a pandemic, as there is of capital during a financial crisis. When normalcy returns, the globalised Indian will fly away once again. As people return home from distant lands, global value chains get disrupted and cross-border movement comes to a grinding halt, new theories are being propounded about the end of globalisation and the return...

-Livemint.com * The Centre has no money for a stimulus package. Only the states can find a way to get India out of the slowdown * States, taken collectively, are the only hope. Despite loan waivers, they are in a better position to boost public spending. But that would require coordinated work between the Centre?and the states NEW DELHI: On 1 February, finance minister Nirmala Sitharaman will present an important Union budget. The...