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Lockdown, Day 71: Mixed messages ahead

India is facing an unprecedented economic crisis, where some of the safe and traditional jobs are under the threat of being axed even as India breached the 2 lakh mark, with the highest spike of nearly 9000 cases in a day. Tough times ahead.

ET Online|
Last Updated: Jun 03, 2020, 08.58 PM IST
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IT firms
Coronavirus

COVID-19 CASES

Confirmed
648,315
Deaths
18,655
India's IT sector employees aren't just battling the economic repercussions of COVID-19 but also artificial intelligence-based platforms, automation tools and other digital technologies.The country's top five IT services providers have hired fewer people over the last five years, thus impacting white-collar employment.

India witnessed the highest spike of cases with nearly 9,000 testing positive, and the total cases breaching the 2 lakh mark.

On the other hand, IndiGo continues to add planes to its fleet despite the Covid squeeze. Perhaps the economy will spring a happy surprise soon.

Track this space for latest updates...



COUNT SO FAR
  • Assam reports 111 new cases, state tally rises to 1,672
  • Indore reports 27 COVID-19 cases, total at 3,597.
  • Highest single-day spike of 396 COVID-19 cases in Bengal
  • Nagaland's Covid tally rises to 58
  • Rajasthan reports 102 cases, total at 9475
  • 47 Maharashtra Police personnel test positive, total at 2,556
  • 51 cases reported in Jharkhand, total at 726
  • Andhra Pradesh reports 79 cases, total at 3,279
  • Kerala reports 82 new cases, total at 1,494
  • Tamil Nadu reports 1286 new cases, total at 25,872
  • Punjab reports 34 new cases, total at 2,376
  • Karnataka reports 267 new cases, total at 4,063
  • Madhya Pradesh reports 168 new cases, total at 8,588
  • Maharashtra reports 2,560 new cases, tatal at 74, 860
World India
Tally Toll Tally Toll
6,395,328 380,580 198,706 5,598

LIFE UNDER LOCKDOWN
  • Retailers avoid discounting to meet social distancing norms
  • Gujarat makes hospitalisation mandatory for COVID test
  • 10% of India’s population above 60 accounts for 50% of Covid deaths
  • India's coronavirus cases cross 200,000, peak still weeks away
  • Railways announces 5 intra-state special trains in Odisha
  • US to ship first tranche of 100 donated ventilators to India next week
  • Rajasthan Roadways resumes bus services on 200 routes
  • Air India flight carrying 153 Indian nationals from Dubai lands
  • PM approves establishment of PCIM&H under AYUSH
  • Certain categories of foreign nationals allowed to come to India
  • Spike in MGNREGS numbers reveals impact of lockdown

BUSINESS AND ECONOMY
  • Moody's downgrades ratings of 8 firms, 3 banks
  • Services activity contracts sharply in May, firms cut jobs: PMI
  • PSBs disburse Rs 3,893-crore loans to MSMEs
  • Govt approves setting up of EGoS & PDCs to attract investments
  • Cabinet approves amendments to Essential Commodities Act
  • VIP Industries said it might take a 50 per cent hit on its top line in FY21
  • Hyundai launches end-to-end online car buying platform 'Click to Buy'
  • Around 42 crore poor received financial assistance of Rs 53,248 cr under PMGKP
  • Indigo will continue adding Airbus A320neo jets to its fleet
  • Power Minister formally launches real-time power market
  • Mahindra counts loss of 87,000 vehicles, 30,000 tractors in Q1
  • IT spending in India to fall 8% in 2020 due to COVID, first fall in 5 years: Gartner
  • Government eyes $17 billion investment proposals to boost local manufacturing
  • US launches investigations on India’s equalisation levy on global digital majors
  • Uday Kotak takes over as CII president

AROUND THE WORLD
  • US has most cases at more than 2.9 million
  • Europe has highest death toll at 182,000
  • No evidence of coronavirus changing its severity: Experts
  • Plasma therapy safe, effective for severe Covid-19 patients: Study
  • Coronavirus cases in Singapore cross 36,000-mark
  • Putin declines British invitation to take part in coronavirus summit
  • T20 World Cup could be held in New Zealand, suggests Dean Jones
  • 201 more cases reported in Nepal, total at 2300
  • Australia heading for recession after economy contracts
  • Zimbabwe raises $20 million in treasury bills sales to fight coronavirus
  • Suez canal revenues fall by 9.6% in May due to coronavirus
  • Video-meeting service Zoom said it made a profit of $27 million

DEBATE THIS
  • Is India guilty of taking rating agencies too seriously? Tell us here
(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

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