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Regulatory work relegated to background amid Covid-19

Intended for staff and external experts

Commission must safeguard standards in the wake of Covid-19

But campaign group concerned about selected modelling tools

Will go into force 1 November this year

By front-loading PM-Kisan, the Centre has transferred Rs 13,855 crore as the first instalment of Rs 2,000 to each of the 6.93 crore farmers as on Friday, the finance ministry tweeted.

The pile-up of harvested or un-harvested perishables may have caused farmers a loss of around Rs 15,000 crore. Market arrivals of fruits and vegetables have sharply fallen since the imposition of the lockdown.

The transfer of around Rs 17,400 crore under the PM-Kisan is being front-loaded. However, most of these interventions will benefit the rural poor more than their urban counterparts, according to analysts.

In its status report submitted earlier, the Centre had said that all the steps were being taken for the welfare and benefit of migrant workers.

The letter has urged, mainly for wage subsidy to large employers, on the lines of the Netherlands and Australia .

Out of 230 lakh tonne annual consumption, only a third of it is met via domestic production. Edible oils prices have gone up as the country’s 600 refineries, 500 solvent plants and 10,000 crushing mills have reduced output by half compared to pre-Covid levels, industry experts said.

Further, the Board said that it was processing an additional 1.75 lakh refund claims, which would be credited directly to the taxpayer bank account in 5-7 business days from issuance.

Job guarantee programme (MGNREGA) works are allowed with strict implementation of social distancing and face mask.

At the same time, long term FPI investment limits in G-secs have been brought down to Rs 1.03 lakh crore from the prevailing limit of Rs 1.15 lakh crore  a reduction of almost $1.5 billion.

Kerala has the country's highest Covid-19 recovery rate with218 out of the 387 coronavirus positive cases recovering . The state has also decided to increase the number and extent of testing, chief minister Pinarayi Vijayan told mediapersons.

The Lasalgaon APMC officials said that another reason for imposing restrictions is the drop in demand of onions. According to officials, the demand has reduced to a great extent in domestic markets.

The agricultural output in the economy grew by 3.5% in the third quarter (Q3) of FY20, against 3.1% in Q2 of FY20.

Even while the government and Reserve Bank of India (RBI) have provided some stimulus, further support may be required to help real estate and for the economy to stay afloat during the crisis.

Banks have been facing difficulty due to the shutdown following COVID-19 pandemic and a cut in LCR requirement is likely to manage their liquidity effectively.

According to the June 7, 2019, circular of the RBI, banks had to make additional 20% provisioning for the cases where resolution could not be reached over a period of 210 days, after signing the inter-creditor agreement.

As per data from the Reserve Bank of India (RBI), the total reserves stood at $476.475 billion at the end of the week.

The need of the hour is to promote remote working and expand gig economy, speakers at a Niti Aaayog-organised Webinar said.

Ginning units are not keen on buying cotton since most of the workers have left for their villages and they do not have the capital to buy cotton and other processing units are also shut.

The unprecedented situation created by Covid–19 pandemic and lockdown announced by both the Union and state governments from March 24 has led to severe disruptions affecting the economy and impacting people at large and the MSME spinning mills.

The ministry of home affairs (MHA) had on April 19 issued a detailed standard operating procedure while allowing suitable deployment of their skills. As per Census, 2001, the total number of internal migrants in India was 309.385 million.

After the Reserve Bank of India (RBI) cut its policy repo rate by 75 basis points (bps) on March 27, a number of banks and non-banking finance companies (NBFCs) followed by cutting their lending rates.

Pawar’s letter to Modi dated April 25 echoed similar demands raised by many states including Kerala and Punjab, and underlined the notion that cutting spending was hardly an option for states at this juncture.

Though rabi rice procurement continues till the end of September, the maximum procurement happens by July 15 before monsoon covers the entire country.

Although there is no concrete proof, experts believe a large chunk of this is likely to be T-Bill purchases by the RBI from the secondary market.

Besides, the state government will create new bank accounts for some 56 lakh farmers and issue 1.12 crore credit/debit cards to them by the next kharif season to enable them to avail crop loans and other government benefits.

Agriculture minister Tomar says Rs 18-k cr disbursed under PM-Kisan since lockdown began, to raise share of agriculture-related works under MNREGA to 77% in FY21 from 66% in FY20.

However, the Bench refused to interfere in the matter after the petitioners informed the judges that they were not personally affected and had filed the PILs in public interest.

Crisil expects GNPAs for the financial year 2020 to remain at 9.5%. Considering the Covid-19 impact, Crisil has projected GNPAs in the range of 11-11.5% for the financial year 2021.

The APMC officials pointed out workers usually come to the market yard on pick-up trucks, however, the police have been acting against them as social distancing is not maintained onboard the pick-ups.

The prime minister is said to have suggested exploring possibility of creating commodity specific Board or Council so that cluster/contract farming takes place as that will help increase agricultural exports from the country.