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India may need 3 fiscal boosters to avoid a Covid catastrophe

On what kind of expenditures that GoI must undertake, there is a plethora of advice.


02 April, 2020, 08:35 AM IST



Rate cut on small savings will add to people’s woes: Congress

The rate cut came after the Reserve Bank of India recently reduced its key lending rate by 75 basis points to counter any economic fallout from the outbreak. The main opposition Congress party demanded that the decision be reversed.

White House, Congress weigh next stimulus with virus spreading

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Coronavirus could stall a third of new US utility solar this year: report

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  • In letters to RIL chairman Mukesh Ambani, Airtel chairman Sunil Mittal, VIL chairman Kumar Mangalam Birla and BSNL chairman P K Purwar, Gandhi has called on telcos to “make incoming and outgoing call facilities” on their networks “available in the relevant areas without charge for the next one month” for home-bound migrant workers who have run out of cash on their phone recharges.

    "Today, in the hour of crisis, our brothers and sisters should at least get respect and support. The government should take concrete steps as soon as possible so that it does not become a major tragedy," Gandhi said on Twitter.

    Party spokesman Manish Tewari made this demand to the ministry amid reports that many banks were proceeding to follow the regular EMI deduction schedule despite the RBI’s nod for deferring them for three months.

    Even before the pandemic sent the global travel industry into a nosedive, Airbnb faced financial challenges. In the last three months of 2019, it lost $276.4 million excluding interest, taxes, depreciation and amortization, compared with a loss of $143.7 million a year earlier

    Senior Congress leader and former Union finance minister P Chidambaram, who is a Rajya Sabha MP from Maharashtra, on Monday announced he would give Rs 1 crore to the Chief Minister's Relief Fund in view of the novel coronavirus outbreak.

    In his remarks, a day after Modi announced a complete nationwide lockdown for 21 days to contain the spread of COVID-19, the Congress leader also said, "we will rise together as a nation & defeat COVID2019. We stand with the lockdown but are deeply disappointed by the lack of coherent strategy or a clear 'way ahead' on your part."

    The voting was conducted through voice vote and all the MLAs present voted in favour of the new government. These included 107 BJP MLAs, four independents, two BSP MLAs and one SP MLA. There were 114 votes in the favour of the government while the Congress decided to remain absent. The BSP and SP MLAs voted for the BJP government despite being asked by their parties to vote against the government.

    At a shopping mall in Pune, a middle-aged woman abused a young girl from the North-east ostensibly because the culprit suspected the victim of being a Chinese national and, therefore, responsible for spreading the Coronavirus. A lady was so appallingly abused on social media that she was compelled to lodge an FIR with the Delhi Police.

    Whether one likes it or not, Congress is still the only truly national party apart from BJP.

    BJP sources told ET that the 16 Congress MLAs holed up in a resort under police protection in BJP-ruled Karnataka were unlikely to attend Friday’s session. The MLAs had resigned but their resignation letters have not been processed.

    Twenty-two rebel Congress MLAs, whose resignations from the Madhya Pradesh Assembly had led to the fall of the Kamal Nath government met BJP president J P Nadda, who welcomed their decision to join the saffron party. These former MLAs are believed to be Jyotiraditya Scindia loyalists.

    Congress politics in current times isn’t just about power. It’s also about confronting the Sangh ideology. The two ideologies visualise India differently. The future of India depends on the victory of one of these ideologies

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