Centre won’t curb imports, says FM Nirmala Sitharaman

FM’s assurance allays fears that India’s quest for self-reliance may see it veer away from the path of globalization

NBFCs request FM for changes to liquidity schemes

Not happy with the three-month tenure of a ₹30,000 crore scheme, NBFCs want it extended to three years

Cabinet approves key proposals in ₹20 tn economic  package

The cabinet also cleared a special liquidity scheme for NBFCs and housing finance firms as part of the package

CBDT gives wholesalers relief on electronic payment norms

The use of e-payment modes was made compulsory in 2019 in a bid to promote a less-cash economy

'Govt to help migrants in coming back when industrial activities resume'

• Nirmala Sitharaman said, Prime Minister Narendra Modi's vision of Atma Nirbhar Bharat is aimed at making Indian globally competitive
• Sitharaman said a lot of companies have had queries from the workers to check if the lockdown is going to be lifted soon and when the production is likely to commence

States weed out obstacles to help farmers sell their produce

• Several states are taking steps meant not only to ease sale of produce but also to check food price rise
• States expect removal of intermediaries in purchasing to boost farmers’ income

I've done the best for India Inc: Sitharaman on stimulus package

• Union finance minister defends lockdown and stimulus package, says government will not hesitate to take more steps to support Indian businesses
• ‘The schemes are getting implemented, and people will have some money in their hands and start business again’

Stimulus package to provide relief for financial system: Moody's

• Among the measures, the most significant is the government guaranteed, automatic and uncollateralised loans to micro, small and medium-sized enterprises (MSMEs)
• Liquidity support to power distribution companies (Discoms) will improve near-term cash flows of power generating companies

The delivery challenge in the government’s MSME package

The centerpiece of the government’s revival plan for MSMEs is a ₹3,00,000 crore lending facility. And it has three big delivery challenges

Opinion | India Inc has reason to be disappointed

Reforms take time to pay dividends. The government’s loan guarantees and credit lines will do little to revive demand in the short-term. Indian companies are worried. Justifiably so

Centre’s stimulus measures do little to enthuse grounded Indian carriers

• No proposal for direct relief has come through, say industry officials, as daily losses soar due to the lockdown
• The clampdown on Indian aviation began in mid-February with a ban on flights to and from virus-hit countries, followed by suspension of all domestic and international operations from 25 March, when the lockdown first took effect

Anxious retailers feel short-changed by govt

We were hoping that the government will allow at least 50% of the malls to reopen, said SCAI chairman Taneja

Lack of demand stimulus deflates auto biz

• Automakers and dealers call for a GST cut, among other sops
• Auto component makers say they are unlikely to gain much despite the avowed policy support to medium and small enterprises

Cash-strapped India's economic plan unlikely to soften coronavirus blow

• The government has also provided no support to the tourism industry, which is likely to see tens of thousands of job cuts and small firms going bankrupt
• A breakdown of the rescue plan shows that the actual spending of the government is only about a tenth of the $266 billion package

‘It’s difficult to dole out cash to migrant workers with no data’

There is a lot of double standards in the ratings game. We live in a real world and we are aware of these double standards, says T.V. Somanathan, expenditure secretary in finance ministry