-The Hindu Business Line Gross non-performing assets of banks could rise to 11 to 11.5 per cent this fiscal CRISIL Research has stated that the current coronavirus pandemic could lead to a four per cent permanent loss to real Indian gross domestic product (GDP) and said that more fiscal stimulus will be required. Most economies across the globe are unlikely to see normal conditions until 2022 due to the current coronavirus pandemic and...
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It is time to resume political activity -Suyash Rai and Milan Vaishnav
-Hindustan Times While open political contestation faces hurdles, the government needs to be held accountable Five weeks ago, the nationwide lockdown announced by Prime Minister Narendra Modi placed the Indian economy in cold storage. It also seems to have put politics on ice. As the government prepares to gradually dial down the economic freeze on May 3, politics, too, must emerge from its hibernation. Politics — at its core — is about...
More »Covid-19 pandemic has re-established primacy of government -Suranjali Tandon
-The Indian Express Citizens ordinarily advocating for free markets are now urging the governments to open up its coffers In the years after the Second World War, financial crises were frequent. But the current contagion has thrown many countries off guard. There is little or no experience to guide countries on how to tackle such an epidemic. The only alternative, widely adopted now, has been to suspend business as usual and coerce...
More »Covid-19: Centre rejects IRS’ proposal of taxing the super rich, calls it an ‘act of indiscipline’
-Scroll.in The finance ministry has directed the CBDT chairperson to seek an explanation from these officers for writing such ‘ill-conceived views’ in public. The Centre on Sunday rejected a proposal made by officials of the Indian Revenue Service suggesting the government should increase taxes to cushion the economic fallout of the coronavirus pandemic. The Centre called it “an act of indiscipline”, NDTV reported. In a 44-page report titled FORCE, or Fiscal Options and...
More »Massive 145% profiteering exposed in coronavirus rapid test kits sold to ICMR -Rajeev Dubey & Vivek Punj
-Businesstoday.in Dispute between importer and distributor unravels super profits; Delhi HC strikes down sale price by 33 per cent * The $3 per test SARS CoV-2 Antibody test kits are being imported from China's Wondfo * Its landed price, including air freight (Rs 20), to importer Matrix Labs is Rs 245 per test * ICMR placed an order to buy 5 lakh kits on March 27, 28 @Rs 600 (plus GST) per test * Importer...
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