Gita Gopinath, chief economist at the International Monetary Fund (Photo: Bloomberg)
Gita Gopinath, chief economist at the International Monetary Fund (Photo: Bloomberg)

More than stimulus, virus-affected countries need proactive fiscal policies: IMF

  • The IMF chief economist terms the current economic stasis as 'The Great Lockdown' and that it is fundamentally different from The Great Depression and 2008 financial crisis
  • 'Unlike previous instances, this time around, we actually don’t want people to go out and spend,' she said at an American talk show

Sensex surged over 1250 points to settle at 31,159 (PTI)
(Photo: AP)

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Front view of Cognizant's Mangaluru facility
A paramedic uses an infrared thermometer to measure the temperature of a police officer alongside a road during a 21-day nationwide lockdown to slow the spreading of coronavirus disease in Ahmedabad (Photo: Reuters)
A paramedic uses an infrared thermometer to measure the temperature of a police officer alongside a road during a 21-day nationwide lockdown to slow the spreading of coronavirus disease in Ahmedabad (Photo: Reuters)

Centre sanctions 15,000-crore Covid-19 emergency package for states, UTs

  • Centre has approved a Covid-19 emergency response and health system preparedness package in a bid to strengthen the national and state health systems
  • The Centrally-funded project will be implemented in three phases -- from January 2020 to March 2024

Photo: Indranil Bhoumik/Mint
Petrol sales dropped 16.37% to 2.15 million tonnes in March (PTI)

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Over 650 people diagnosed positive with coronavirus disease in Mumbai (Reuters)
IMF Managing Director Kristalina Georgieva. (REUTERS)
Uber is also offering interest-free credit of up to  ₹3,600 to driver-partners to help them meet immediate household expenses amid the coronavirus pandemic (Reuters: Reuters)
Uber is also offering interest-free credit of up to 3,600 to driver-partners to help them meet immediate household expenses amid the coronavirus pandemic (Reuters: Reuters)

Coronavirus: Uber to provide 25 crore in grants to driver partners in India

  • Uber is rolling out a Hospital Cash Insurance policy that will benefit driver-partners, and cover COVID-19 and other illnesses which require hospitalization, for up to 14 days
  • Uber is also looking at raising an additional 25 crore through employee and third-party contributions.

An empty street as the lockdown continues to combat the spread of coronavirus in downtown Madrid, Spain. (AP)
A vendor wearing a mask waits for customers during the nationwide lockdown, in wake of the coronavirus pandemic (PTI)
A vendor wearing a mask waits for customers during the nationwide lockdown, in wake of the coronavirus pandemic (PTI)

In Odisha, you can be penalised from 200-500 for not wearing masks in public

  • The state government has also promulgated an ordinance with provision of imprisonment of up to two years for those who violate the epidemic regulations
  • The general public is directed to cover their mouths and noses with any available form of mask while stepping out of the house for any purpose

Medical staff are seen wearing masks at RML Hospital as a precaution in wake of coronavirus pandemic, during the nationwide lockdown, in New Delhi. (PTI)
A file photo of Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases (Photo: Reuters)
A file photo of Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases (Photo: Reuters)

US Covid-19 deaths may be 60,000, half of projections, says NIAID chief Fauci

  • NIAID chief Anthony Fauci said US fatalities from coronavirus may be as low as 60,000 — far fewer than earlier projections — because of safety measures such as social distancing
  • Earlier, the NIAID chief had projected tota fatalities something between 100,000 to 200,000

Microsoft also said that 183,000 education organizations, each of which can include multiple schools, in 175 countries were now using its Teams for Education (AFP)
Microsoft also said that 183,000 education organizations, each of which can include multiple schools, in 175 countries were now using its Teams for Education (AFP)

Covid-19 lockdown: Demand for video calling continues to surge, says Microsoft

  • Microsoft said that video calls on Teams, which competes with apps such as Slack and Zoom, were up 1,000% in the month of March
  • Slack said last month that its users increased to 12.5 million on March 25

Analysts estimate jewellery revenues to have declined by about 50% in March 2020.
The govt sold the benchmark 2029 bond at 6.53% cutoff yield, with a bid-to-cover ratio of 2.45 times, similar to the last sale in January (Photo: iStock)
The govt sold the benchmark 2029 bond at 6.53% cutoff yield, with a bid-to-cover ratio of 2.45 times, similar to the last sale in January (Photo: iStock)

India pulls off first of record bond sales with higher costs

  • The govt is seeking to sell 4.88 trillion of bonds in the six months to September, as the first part of a record-borrowing program
  • The govt sold all 10,000 crore of the benchmark bond, with a bid-to-cover ratio similar to its last sale, and a cutoff yield just two basis points above expectations

The benchmark indices, which rose by more than 5% during the day, ended lower in a volatile session on Wednesday. Photo: Ramesh Pathania/Mint
The benchmark indices, which rose by more than 5% during the day, ended lower in a volatile session on Wednesday. Photo: Ramesh Pathania/Mint

Nifty reclaims 9,100, Sensex closes 1,265 points higher; M&M, Maruti top gainers

  • Indian shares closed higher on Thursday. Healthy buying in auto, healthcare and finance stocks supported the indices
  • After hitting a high of 31,225.20, Sensex closed 1265.66 points or 4.2% higher at 31,159.62

The study was done by using clones of fingerprints that used sophisticated technology to mimic the texture of skin and fingerprint
Railway personnel working to convert the train coaches into isolation ward Tikiapara railway station in Howrah. (ANI)
Railway personnel working to convert the train coaches into isolation ward Tikiapara railway station in Howrah. (ANI)

No action plan for resuming train services from April 15: Railways

  • Railways said that it is premature to speculate about the norms of resumption of passenger services at this stage
  • The railways said that all concerned would be intimated about the same as and when a decision is taken about it

Hydroxychloroquine has been identified by the US Food and Drug Administration as a possible treatment for the COVID-19 (Bloomberg)
Hydroxychloroquine has been identified by the US Food and Drug Administration as a possible treatment for the COVID-19 (Bloomberg)

10 coronavirus drugs are under trial, US shows 'unprecedented' effort: Trump

  • Mike Pence said the US was having four separate clinical trials on the anti-malarial drug hydroxychloroquine
  • In the absence of either a vaccine or a drug, the novel coronavirus has claimed more than 88,500 lives and has infected nearly 1.5 million people globally

Employee experience in IT industry has shown a significant positive improvement over the last couple of years. Photo: iStock
Employee experience in IT industry has shown a significant positive improvement over the last couple of years. Photo: iStock

Bengaluru voted best city for IT professionals, Hyderabad 2nd: Survey

  • Over 40 per cent of information technology (IT) professionals voted Bengaluru as the top city to work, according to TechGig's survey
  • Hyderabad and Pune secured the second and third spots

Odisha Chief Minister Naveen Patnaik
The city of Wuhan, the original epicenter of the outbreak, provides a test case after China this week lifted its months-long quarantine. (AFP)
The city of Wuhan, the original epicenter of the outbreak, provides a test case after China this week lifted its months-long quarantine. (AFP)

The $86 trillion question is how to get people back to work

  • With planes grounded, supply chains ruptured and factories idled, the $90 trillion global economy is enduring one of its worst shocks since the Great Depression
  • Reopening economies safely would require antibody tests to identify communities that were least affected.

Kerala had only two deaths, and a mortality rate of 0.58 (AP)
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Kerala Finance Minister Thomas Isaac. (Photo: Ramesh Pathania/Mint)
IIM-C Director Anju Seth said the institution has taken a host of measures in view of the coronavirus crisis, including changing the academic calendar for various programs.
IIM-C Director Anju Seth said the institution has taken a host of measures in view of the coronavirus crisis, including changing the academic calendar for various programs.

IIM Calcutta students lost 6 job offers due to the Covid-19 crisis

  • Due to the COVID-19 pandemic, the global headquarter of one recruiter has rescinded six job offers at IIM Calcutta
  • One startup has communicated business difficulties

Lav Aggarwal, Joint Secretary, Health Ministry (Photo: ANI)
Lav Aggarwal, Joint Secretary, Health Ministry (Photo: ANI)

No need to panic over availability of PPE: Health ministry

  • The total number of COVID-19 cases in India is 5,734 and 166 people have died due to the disease
  • Orders for 49,000 ventilators have been placed and their supply is underway, said Lav Aggarwal

A total of 8 people died in Maharashtra on Thursday, taking the death toll in the state to 72 (Photo: HT)
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The total number of coronavirus cases in India has climbed to 5,734 (PTI)
Rupee fell to 76.55 against the US dollar
The municipal corporation will soon start providing door-to-service for essential items in Dharavi area (REUTERS)
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