Business

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India’s GDP To Shrink.
23 Apr

India’s GDP To Shrink.

nebm0 CommentsBusiness
As India remains in a 40-day nationwide lockdown to slow down the spread of the Covid-19 pandemic, trapping an already-slowing economy a standstill, economists and industry experts are estimating sub-1 per cent expansion rates. Some are even expecting a contraction for the country's GDP. The latest estimates by some economists and certain industry experts shows how gloomy India's economy on account of the coronavirus-triggered lockdown, which continues to harm many businesses worldwide. Though even before the country began the COVID-19 lockdown, the economy stared at its worst pace of expansion since the 2008-09 global financial crisis.
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Coronavirus Is Impacting Job Placements
22 Apr

Coronavirus Is Impacting Job Placements

nebm0 CommentsBusiness
Jobs offered to six students of Indian Institute of Technology in Madras have been revoked by companies due to the pandemic, but the institute - ranked number one under the Education Ministry's overall institutions category and engineering institutions category – says there have been no cancellations of overseas job offers.The highly contagious coronavirus pandemic, which has infected over 2.5 million people worldwide, has had a massive impact on the global economy. Growth rates have plunged, millions have lost jobs and offers made in healthier and happier times are now being reconsidered.The contagion has also not spared the graduates of India's…
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China Calls India’s new FDI Rules as “Discriminatory”
20 Apr

China Calls India’s new FDI Rules as “Discriminatory”

nebm0 CommentsBusiness
India's new rules for Foreign Direct Investment (FDI) violate WTO principles of non-discrimination and are against free and fair trade, China said on Monday, calling for a "revision of discriminatory practices". On Saturday, the government stepped up scrutiny of investments from companies based in neighbouring countries, in what was widely seen as a move to stave off takeovers by Chinese firms during the coronavirus outbreak. The changes were meant to curb "opportunistic takeovers/acquisitions," said the government.
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UP Hospital Ad Says No Entry To Muslims Without COVID-19 Test
19 Apr

UP Hospital Ad Says No Entry To Muslims Without COVID-19 Test

nebm0 CommentsBusiness
A privately-run cancer hospital in western UP's Meerut waded into controversy this week after it said Muslim patients and their attendants would only be admitted if they tested negative for the COVID-19 virus. The outrageous declaration was made in an ad posted in a local newspaper.Curiously, the same ad also hit out at Hindu and Jain patients, accusing the wealthy sections of both communities of being "misers" and demanding they contribute to Prime Minister Narendra Modi's PM Cares Fund; it is not known if the hospital claimed to regard donation to the fund as price of admittance for Hindus and…
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India Revises FDI Policy To Shield Firms During This Pandemic
18 Apr

India Revises FDI Policy To Shield Firms During This Pandemic

nebm0 CommentsBusiness
Companies in any country that shares a border with India will have to approach the government for investing in India and not go via the automatic route, the Commerce and Industry Ministry said in a press note spelling out its new foreign direct investment or FDI policy for neighbouring states.FDI in India is allowed under two modes - either through the automatic route, for which companies don't need government approval, or through the government route, for which companies need a go-ahead from the centre.The revised FDI rule seeks to curb "opportunistic takeovers or acquisitions of Indian companies due to the…
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The RBI cut its reverse repo rate by 25 basis points
17 Apr

The RBI cut its reverse repo rate by 25 basis points

nebm0 CommentsBusiness, North East
The Reserve Bank of India cut its key deposit rate for the second time in three weeks on Friday to discourage banks for parking idle funds with it and push them toward lending to revive the economy amid the coronavirus lockdown. The RBI cut its reverse repo rate by 25 basis points (bps) to 3.75 per cent with immediate effect, as said by governor Shaktikanta das through a video conference. The rate had already been cut by 90 bps on March 27.
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Pandemic could trigger social unrest in some countries: IMF
15 Apr

Pandemic could trigger social unrest in some countries: IMF

nebm0 CommentsBusiness
New waves of social unrest could erupt in some countries if government measures to mitigate the coronavirus pandemic are seen as insufficient or unfairly favoring the wealthy, the IMF said in a new report on Wednesday. Governments had already spent nearly $8 trillion to combat the pandemic and mitigate the economic fallout, but more fiscal stimulus would be needed once the crisis abated, the global lender said in its semi-annual Fiscal Monitor. The spike in spending would sharply widen fiscal deficits, with global public debt set to rise 13 percentage points to more than 96% of gross domestic product in…
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SAARC officials discuss impact of COVID-19
10 Apr

SAARC officials discuss impact of COVID-19

nebm0 CommentsBusiness
As follow up action of the announcement made by the Indian Prime Minister Narendra Modi at the video conference of SAARC leaders on March 15, a video conference of senior trade officials of SAARC countries was held on Wednesday to discuss the impact of travel restrictions and the larger COVID-19 situation on intra-regional trade. Demonstrating keen shared interest and a problem-solving approach in the present challenging circumstances, all countries contributed actively to the discussions on a wide-ranging trade related agenda. “It was recognised in the conference that the COV- ID-19 pandemic is likely to have a considerable adverse impact on…
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Family – A short film by Indian Superstars
07 Apr

Family – A short film by Indian Superstars

nebm0 CommentsBusiness, Entertainment, Lifestyle
The corona virus lockdown has impacted daily wage workers and the poor. Many NGOs, volunteers are helping the people who are in need in whatever way they can. Simultaneously, the virus has affected the film industry too. It's the cine workers who are struggling to make the ends meet and the respective industries have stepped up to help these people. But now the whole of Indian film industry has come together and a short film has been made with Superstars of Hindi, Telugu, Tamil, Malayalam, Kannada, Bengali and other languages. Well the short film starts with India's biggest star Amitabh…
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