India's relief package vs the world's; what more can Modi government do?
With the Covid-19-induced lockdown severely hurting economic activity, the Narendra Modi administration has announced a relief package worth Rs 1.7 lakh crore for India's poor. The Reserve Bank of India has also taken steps to boost liquidity in the system to the tune of Rs 3.74 lakh crore. Watch the full video to see a comparison between the economic relief measures announced by India's government and other economies such as China, United States of America, Germany, United Kingdom, and France.
March 29, 2020
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Donald Trump signs $2.2 trillion relief package for US as pandemic cases surge
US President Donald Trump on Friday signed a $2.2 trillion relief package amid the ongoing pandemic. The economic relief package comes at a time when the US has been reeling from the economic tumult. US President said this is a much-needed package for America. Under the plan, most Americans will get direct payments of $1,200. The plan was in approval with Democrats and Republicans alike. Trump said the deal will also benefit small businesses.
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March 28, 2020
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Covid19 Impact : GDP estimate revised downward to 3.5%
Covid-19 has taken the world by storm. As the number of positive cases mount in India, Dharmakirti Joshi, Chief Economist, CRISIL Ltd. takes us through the economic implications of the virus and the lockdown. Having revised their GDP estimate downward to 3.5%, we also try to look at some of the factors that could provide near-term respite.
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March 27, 2020
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‘Clear that we have entered recession’: IMF chief amid global downturn
IMF chief Kristalina Georgieva said the world has entered recession. “It is clear that we have entered a recession” that will be worse than in 2009 following the global financial crisis, she said in an online press briefing. With the worldwide economic “sudden stop,” Georgieva said the fund’s estimate “for the overall financial needs of emerging markets is $2.5 trillion.”
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March 27, 2020
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RBI cuts repo rate by 75 bps, allows 3-month moratorium on EMIs
RBI Governor Shaktikanta Das announced the reduction of repo rate amid COVID-19 pandemic. During a press conference in Mumbai, Das said, “The Monetary Police voted to reduce repo rate by 75 basis points - to 4.4 per cent. The reverse repo-rate reduced by 90 basis points to four per cent.” RBI also permitted banks to allow a three-month moratorium on EMIs of all term loans. The banks include all regional rural banks, cooperative banks and NBFCs. Das also said deferment will not impact the credit history of the borrower. Watch the full video for more details.
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March 27, 2020
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Covid 19- What business leaders can do to come out stronger
With the current COVID-19 situation evolving, businesses are facing adverse challenges. Bain & Company Partner, Amit Sinha shares his views on the unprecedented crisis and discusses the 10 initiatives that senior leaders of various companies should follow to fight, survive and come out stronger.
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March 27, 2020
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Expert Shorts | 'We need more wartime CEOs': Sanjay Nath, Blume Ventures
In the latest dispatch for Expert Shorts, Sanjay Nath-Managing Partner and Co-founder Blume Ventures outlines the strategies for founders to look at during such tough times. He goes on to say that war like situations need more war-like CEOs. There will have to be some tough decisions to be taken and the war- time CEOs should not steer away from those. In terms of positives, he highlights that downtimes are usually the best times for disruption and product building.
March 26, 2020
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How China Caused a Global Pandemic | Mint Wide Angle
New evidence shows that Chinese authorities new the genetic sequence of the Novel Coronavirus four days before it told WHO that the disease was still unidentified. Genomics labs were told to stop testing and destroy all samples. China also banned the publication of any information about the disease, even as it was spreading beyond Wuhan to other Chinese cities and other parts of the world. China sat on crucial information for three weeks before locking down affected cities. This cover-up has probably cost thousands of lives and billions of dollars across the world.
March 26, 2020
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Coronavirus: External and global dynamics
The World Health Organisation (WHO) has designated Coronavirus Disease (COVID-19) a ‘pandemic.’ Ambassador Rajiv Bhatia, Distinguished Fellow, Foreign Policy Studies, Gateway House in this dispatch points out that Coronavirus is a global challenge and the Government of India is monitoring the situation and taking necessary steps for containment of the virus. He also discusses the China factor where India is taking a sober view while highlighting the need for regional cooperation through SAARC and global cooperation through G20 - both multilateral cooperations were suggested by Prime Minister Narendra Modi.
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March 25, 2020
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Covid19 Impact : Irreversible Damage done to Aviation sector
According to Jagannarayan Padmanabhan, Director, Crisil Infrastructure Advisory, the current situation is unprecedented. All aspects of the aviation sector are taking a hit - Airlines, retail , airport operations. The issue is quite unclear as to when this will end and what irreversible damage it will do to the sector. He adds that the aviation sector in India is quite fragile, a few are still in the startup mode and others were already challenged for operation. The post-corona world for the aviation sector will look drastically different.
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March 25, 2020
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Covid-19 halts new movie releases but streaming shows still abound
The corona scare worsens with each passing day, which means there are no new movie releases. However, Netflix, Amazon, Hotstar and others line up offerings. In the latest episode of its show, 'Business of Entertainment', Mint's Lata Jha goes through the financial performance of what’s buzzing in the world of entertainment.
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March 23, 2020
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Hiranandani sees small sized apartments demand growing
On the sidelines of Mint Investment Summit 2020, Niranjan Hiranandani, Founder, Hiranandani group, talks about the challenges in real estate after Rera came into force. Hiranandani explained how cost of new projects increased post Rera. Watch the full video for more details.
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March 19, 2020
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Coronavirus: 4 Things India Must Do | Mint Wide Angle
Most people in slums don't have enough water to wash their hands regularly, most have to go out everyday to earn a living, most live cheek-by-jowl in congested neighbourhoods. This is a fertile ground for Coronavirus to spread. The central and state governments need to draw up an integrated, well-funded, plan to ensure everyone can practice 'social distancing'.
March 18, 2020
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Has Coronavirus hit JSW Steel's business? Shesagiri Rao explains
On the sidelines of Mint Investment Summit 2020, Seshagiri Rao, Jt Managing Director, JSW Steel, talked about the impact of coronavirus on metals. Rao said, “After the outbreak of coronavirus, consumption has slowed down and that is why inventories went up. Hence, we are witnessing a reduction in prices within China and that sentiment is reflection outside China.” Watch the video for more details.
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March 18, 2020
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Global uncertainty critical for M&As: Centrum Group's Jaspal Bindra
On the sidelines of Mint Investment Summit 2020, Jaspal Bindra, Executive Chairman, Centrum Group, spoke about the key challenges to M&A in India. Bindra said that global slowdown stands as a big challenge for India. He also said that the infrastructures of IBCs are insufficient. Watch the full video for more details.
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March 18, 2020
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Where do fund managers invest amid slowdown? A91's Abhay Pandey answers
On the sidelines of the Mint Investment Summit 2020, Abhay Pandey, General Partner, A91 Partners, explains the strategy to get the right Unit economics. Pandey explained that Unit economics is critical right from a company creation. Pandey also explained where fund managers can invest amid slowdown. Watch the full video for more details.
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March 17, 2020
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‘Angrezi Medium, ‘Pushpavalli 2’ major offerings of the week
The entertainment offerings this week include comedy drama Angrezi Medium and Amazon Prime Video original Pushpavalli- Season 2. In the latest episode of its show, 'Business of Entertainment', Mint's Lata Jha goes through the financial performance of what’s buzzing in the world of entertainment.
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March 16, 2020
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How to deal with Coronavirus-induced bloodbath in markets: Money With Monika
While dealing with the ongoing global slowdown and trade skirmishes, financial markets have been dealt a fresh blow due to the Coronavirus pandemic. As indices remain in the red, with an uncertain outlook, what should your strategy be regarding your investments? Watch the full episode for personal finance expert Monika Halan's advice.
Monika Halan is consulting editor, Mint, and author of the book 'Let's Talk Money'.
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March 16, 2020
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‘Coronavirus expected to impact domestic growth’: Shaktikanta Das
Reserve bank of India Governor Shaktikanta Das spoke on the impact of coronavirus on the India economy and said that some Indian sectors are facing loss of activity. He said that policy actions during the duration need to be carefully calibrated and added that RBI has been taking steps to ensure that financial institutions remain sound. He also added that another dollar/rupee sell-buy swap on 23 March, 2020.
March 16, 2020
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‘See TikTok penetration rise in India’: General Atlantic’s Sandeep Naik
On the sidelines of the Mint Investment Summit 2020, General Atlantic’s Managing Director & Head India and Southeast Asia, Sandeep Naik said that the India model is about domestic consumption. Naik highlighted that General Atlantic is interested in investing in consumer companies. Naik also spoke on TikTok’s penetration rise in India. Watch the full video for more details.
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March 16, 2020
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Hundreds of migrant workers reached Ghaziabad's Lal Kuan today after taking an arduous trek on foot through Delhi and Gurugram and other cities.
The people took buses to their respective native places from Lal Kuan.
The migrant workers from Uttar Pradesh, Bihar, Haryana and several other places have been left with little option as the country is in a 21-day lockdown to curb the spread of Covid-19.
It was meant to enforce people to observe social distancing the pictures tell a different story. But it has some pitfalls too- leaving daily wagers and marginalised high and dry.
The Uttar Pradesh government has arranged bus services from Anand Vihar in Delhi for people who have been stranded in the national capital due to the lockdown imposed in the wake of the coronavirus outbreak.
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. "If there is any resident or migrant laborer of Uttar Pradesh is trapped in Delhi, then the arrangements for his or her return to home have been made by the Government of Uttar Pradesh," said a notification.
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. (Photos - Reuters)
#COVID19 #CoronavirusUpdate #coronavirusoutbreak #coronavirus #covid19outbreak #lockdown #21dayslockdown #livemint
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Tata Trusts on Saturday has committed ₹500 crore to fight coronavirus.
The funds will be used for PPEs for the medical personnel, respiratory systems for treating increasing cases, testing kits to increase per capita testing.
Chairman @ratantata said, "Urgent emergency resources need to be deployed to cope with the needs of fighting the Covid-19 crisis." .
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#COVID19 #CoronavirusUpdate #coronavirusoutbreak #coronavirus #covid19outbreak #ratantata #tatatrusts #livemint
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as pandemic cases surge
US President Donald Trump on Friday signed a $2.2 trillion relief package amid the ongoing pandemic. The economic relief package comes at a time when the US has been reeling from the economic tumult. .
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US President said this is a much-needed package for America. Under the plan, most Americans will get direct payments of $1,200. .
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The plan was in approval with Democrats and Republicans alike. Trump said the deal will also benefit small businesses. .
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#COVID19 #CoronavirusUpdate #coronavirusoutbreak #coronavirus #covid19outbreak
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Gowtham, the artist, who designed the helmet, "The public at large is not treating the COVID-19 situation seriously, whereas, the police personnel are working round the clock to ensure people stay at home and do not venture out so that further spread of the disease can be stopped." .
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"I came up with the idea and used a broken helmet and papers to prepare this. I have also prepared many placards displaying slogans and handed them over to the police," he added.
The police personnel, who are serving 24/7 on the streets, said that the helmet was proving to be useful in making people aware.
#COVID19 #CoronavirusUpdate #coronavirusoutbreak #coronavirus #covid19outbreak #lockdown #21dayslockdown #livemint #coronahelmet
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#MintPlainFacts | The number of confirmed Covid-19 cases in India rose by a whopping 21 percent since yesterday to 873, the latest data from the ministry of health and family welfare (MoHFW) shows.
This is a faster increase compared to the previous 24-hour-period, when the number of cases had risen by 12 percent to 724. The number of active cases rose 21 percent since yesterday to 775.
Swipe 👉
#COVID19 #CoronavirusUpdate #coronavirusoutbreak #coronavirus #covid19outbreak #lockdown #21dayslockdown #livemint
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#MintPlainFacts | Last weekend, sport resumed. Sort of. In a normal world, March 22 was when the second Formula 1 race of this season would have been held, in Bahrain.
It was cancelled due to Covid-19. But that day saw the start of a virtual race series to fill the void left by F1. It featured 19 race drivers of different pedigrees logging in from across the world to race each other on simulators that replicate actual tracks. .
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They raced in the colours of current F1 teams. It was meant to mirror the real thing.
#formula1 #race #cars #f1 #coronavirus #coronavirusoutbreak #livemint
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IMF chief Kristalina Georgieva said the world has entered recession. “It is clear that we have entered a recession” that will be worse than in 2009 following the global financial crisis, she said in an online press briefing.
With the worldwide economic “sudden stop,” Georgieva said the fund’s estimate “for the overall financial needs of emerging markets is $2.5 trillion.” #IMF #recession #globalrecession #coronavirus #livemint
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RBI Governor Shaktikanta Das announced the reduction of repo rate amid COVID-19 pandemic. During a press conference in Mumbai, Das said, “The Monetary Police voted to reduce repo rate by 75 basis points - to 4.4 per cent. .
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The reverse repo-rate reduced by 90 basis points to four per cent.” RBI also permitted banks to allow a three-month moratorium on EMIs of all term loans. The banks include all regional rural banks, cooperative banks and NBFCs. .
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Das also said deferment will not impact the credit history of the borrower. Watch the full video for more details.
#COVID19 #CoronavirusUpdate #coronavirusoutbreak #coronavirus #covid19outbreak #lockdown #livemint #shaktikantadas #RBI #reporate #banks #finance
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British Prime Minister Boris Johnson has tested positive for coronavirus and is self isolating but will still lead the government's response to the outbreak.
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. "Over the last 24 hours I have developed mild symptoms and tested positive for coronavirus," Johnson said. .
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"I am now self-isolating, but I will continue to lead the government’s response via video-conference as we fight this virus." .
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#COVID19 #CoronavirusUpdate #coronavirusoutbreak #coronavirus #covid19outbreak #livemint
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Reserve Bank of India (RBI) governor Shaktikanta Das today announced a series of massive measures to counter the economic slowdown caused by the novel coronavirus pandemic.
Here's what he said -
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The coronavirus or COVID-19 has brought life to a near standstill in almost every part of the world. The virus, which has originated in central China's Hubei Province has claimed more than 20,000 lives so far and continues to adversely affect more than 150 countries globally
An article in an American magazine highlights how China withheld information that proved detrimental against the COVID-19 fight
Here 👉 is a detailed timeline of China's coronavirus coverup
#COVID19 #CoronavirusUpdate #coronavirusoutbreak #coronavirus #covid19outbreak #lockdown #livemint
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Finance Minister @nsitharaman on Thursday announced a relief package worth Rs 1.70 lakh crore for various sectors to help them tide over the coronavirus crisis.
She announced a series of measures for different sectors, especially the poor and vulnerable ones, and praised the doctors and nurses involved in treating the patients of Covid-19.
#COVID19 #CoronavirusUpdate #coronavirusoutbreak #coronavirus #covid19outbreak #lockdown #21dayslockdown #nirmalasitharaman #livemint #economy #finance
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