d

States’ tax revenue slipped even before COVID-19 outbreak

Even though data for February is not yet available, in the first 10 months of FY20, Maharshtra reported just 3.8% growth in tax revenues while Tamil Nadu's tax receipts in the period grew by an even lower 1.5%.




d

Sovereign rating: Moody’s warn of India downgrade, pegs FY21 growth at 0%

Separately, in a report released on Friday, S&P said it expected the banking systems of Indonesia and India to be among the worst hit in the Asia-Pacific region.




d

Industries want suspension of most labour laws for 3 years

Earlier in the week, Uttar Pradesh promulgated an ordinance to exempt industries from various labour laws for three years to revive economic activities.




d

Indian exchanges aim to attract overseas rupee trading volumes onshore

Finance minister Nirmala Sitharaman inaugurated the rupee-dollar derivatives trading on the two exchanges on Friday.




d

FY21 borrowing target raised by a massive 54%

Announcing the revised calendar, the government said all the auctions covered by the calendar will have the facility of non-competitive bidding scheme, under which 5% of the notified amount will be reserved for the specified retail investors.




d

FM Nirmala Sitharaman to meet PSB chiefs on Monday; to review credit flow, support to NBFCs

The meeting, to be held via video conference, will also dwell on credit disbursement since March, with the focus on Covid-19-related credit sanction and offtake.




d

Maiden round-the-clock renewable energy auction gets tariff of Rs 2.90/unit

Since renewable energy is unpredictable in nature, other sources of energy are required for balancing it, increasing the actual cost of such power, dissuading state-run power distribution companies from buying such electricity.




d

Analyst Corner: Jindal Steel & Power Rating ‘buy’ – Volume uptick in April beat sector trend

Company faring better than peers on operational front due to its focus on exports; lower costs to aid margin; ‘Buy’ maintained.




d

GST relief 2.0: Govt can provide relaxations with respect to certain measures under GST

Current relaxations, prospective exemptions, and time taken to restore normalcy may depress tax collections. An increase in the tax rate of certain goods can compensate for losses.




d

Job cuts, zero production activity due to lockdown: What the Centre must do now

A fully Keynesian approach will need to be taken by the government. People are losing jobs and production activity has come to a standstill due to the lockdown.




d

IBM AI – Watson’s role must be expanded to data analysis and forecasting trends

ICMR, at present, is only using Watson for backend reporting, but it also needs to deploy it for data analysis and forecasting trends.




d

Making sense of the new FDI norms

The recent revisions made to the FDI policy need more clarity for the benefit of investors and companies that are getting lost in its ambiguity.




d

Fiscal slip up 2 ppt, need to structure package carefully

A Rs 4 lakh crore extra borrowing acknowledges huge fiscal slippage; raise loan-guarantee component in package.




d

Oil in turmoil: Need to ensure that our oil sector continues to contribute to national economy

Building the infrastructure for a low carbon future will require oil. While a long term decline for oil’s central place in energy use seems inevitable, we need to ensure that our oil sector continues to contribute to the national economy




d

Pharma exports fail to meet FY20 target due to curbs

Drug formulations and biologicals, which contribute to almost 72% of exports, have shown 9.5% growth in FY20. However, export of bulk drugs and drug intermediates posted negative growth.




d

Bharat Biotech to lead monoclonal antibodies project for Covid-19 therapy

This project brings together National Centre for Cell Science (NCCS), Pune; Indian Institute of Technology, Indore, and Gurgaon-based PredOmix Technologies in a collaborative mode for a public health emergency.




d

NIIT Technologies Rating: Add; Execution stood out in a challenging scenario

Recovery is expected in Q2; upgraded to ‘Add’ given recent correction and other positives; TP cut to Rs 1,310.




d

Indian equities gain on strong global cues

The markets after witnessing strong volumes on Thursday rose on thin volumes on Friday with the F&O segment on the NSE witnessing a turnover of Rs 5.7 lakh crore against the six month average of Rs 14.2 lakh crore.




d

Flights from Riyadh, Bahrain carrying stranded Indians reach Kerala

The passengers were subjected to thermal test at the aerobridge itself before allowing them to undergo customs and immigration checks, Kozhikode airport sources said.




d

Got drug controller nod for Favipiravir’s clinical trial on COVID-19 patients: CSIR DG

The CSIR has already tied up with Cadila Pharmaceuticals Ltd to evaluate Mycobacterium W (Mw) for faster recovery of hospitalised COVID-19 patients and minimise the spread of disease.




d

Five more test positive for COVID-19, total tally in Assam reaches 58

GMCH has been closed for new patients and 386 people, including its Superintendent Dr R Talukdar, doctors, students and several grade three and four workers, have been quarantined.




d

Income Tax Exemption: Donation to Shree Ram Janambhoomi Teertha Kshetra in Ayodhya to get 80G benefit!

The notification says that the Teerth Kshetra is a place of historic importance and a place of public worship of renown for taxation purposes.




d

COVID-19 cases mount to 6,318; death toll rises to 68 in Delhi

An order has been issued regarding appointing representatives of the Delhi chief minister at COVID testing centres to manage and resolve individual grievances of patients and medical staff.




d

Mukesh Ambani in no mood to rest; trying to get more investors for Jio, talks on with rich Saudi wealth fund

Saudi Arabia’s $320 billion sovereign wealth fund is exploring a potential investment in Reliance Industries Ltd.’s digital unit.




d

Time spent on smartphones rose 16% during April 25- May 1, 2020: BARC-Nielsen report

Social networking, gaming and education apps recorded the highest growth




d

Why Xiaomi didn’t talk about its software quirks during Mi 10 5G India launch

Why did Xiaomi not talk about one of Mi 10 5G’s biggest highlights at launch, or after? The reason is simple.




d

Jio offers new top-ups, annual plans with cheaper, additional data

Mobile subscribers get access to 4G data at a price as low as Rs 3.5 per GB but if the floor price is fixed as demanded by telecom operators, the mobile internet prices will rise 5-10 times from the current level.




d

Record single-day spike of 21 cases push Jharkhand COVID-19 tally to 153

Since the outbreak of the pandemic on March 31 in the state, two persons have died of the infection while one COVID-19 patient died due to underlying health condition after testing negative.




d

AIIMS director rushes to Gujarat after sharp rise in COVID-19 cases, fatalities

Following directions from the Centre, Dr Guleria, who is a pulmonologist, and Dr Manish Soneja from the AIIMS department of medicine left for Ahmedabad.




d

Entire family to be home-quarantined if one breaches seclusion rules

In Himachal around 90,000 persons returned home from other states on passes issued by state government in the past one week and another 20,000 plus are waiting to enter the state.




d

COVID-19 recovery: Govt issues new guidelines for discharging patients; check details

The Ministry of Health and Family Welfare has come up with some revised guidelines for discharging patients from healthcare facilities.




d

COVID-19: Legislation introduced in Congress to give Green Card to 40,000 foreign nurses, doctors

The American Hospital Association (AHA) and the American Organization for Nursing Leadership (AONL) said there has never been a more urgent need for the care that foreign-born physicians and foreign-trained nurses provide than during the current COVID-19 pandemic.




d

Share markets fall over 5% in first week of May; here’s what moved D-Street and what to expect ahead

Domestic benchmark indices were in for a bumpy ride this week with many ups and down along the way. Starting the week equity markets tanked and lost 80% of the gains made in the previous week as investors lost Rs 5.8 lakh crore.




d

Stranded in lockdown? Modi govt brings this change in residential status for tax purposes

The nationwide lockdown suspended the operation of international flights and such people were had to prolong their stay in India. They were concerned that the extra stay due to lockdown may make them a resident of India for tax purposes under section 6 of the Act.




d

Only severe COVID-19 patients to be tested before discharge: Union health ministry

At the time of discharge, patient will be advised to follow home isolation for further seen days as per the prescribed guidelines.




d

Google Duo users will soon be able to make ‘group’ video calls from their PC and laptops

Google Duo group video calling for web will arrive in the coming weeks starting as a preview on Chrome.




d

Rs 411 crore loan fraud: After defaulters flee India, SBI complains to CBI

The Central Bureau of Investigation (CBI) did not carry out any searches in the matter because of the coronavirus-induced lockdown.




d

Why do migrant workers who left for their homes want to return to Haryana?

Amidst Coronavirus breakdown, a reverse trend of people wanting to get back to work has been noticed in Haryana.




d

MEA goes all out to repatriate stranded Indians in the second phase

Till date there have been requests for repatriation from 67,833 which includes 34 per cent of 22,470 students, 30 per cent of 15,815 migrant workers, 9,250 short-term visa holders faced with the expiry of visas.




d

Crisis not going away soon; IMF says, new incoming economic data worse than previous estimates

The International Monetary Fund said that the global economic outlook has worsened since its latest forecast three weeks ago and the world can expect more waves of financial-market turbulence.




d

The importance of diversity in media

The broadcasters have a vital role to positively help shape the minds of future generations, by providing the diverse-rich content




d

5-year-old boy dies from rare inflammatory illness linked to COVID-19 in US

Michael Gewitz, Physician-in-Chief of Maria Fareri Children's Hospital, where the boy passed away, said the child suffered "serious neurological complications" from the pediatric multi-symptom inflammatory syndrome.




d

Central Government Employee? Modi govt makes new clarification on travelling allowance

Central Government Employees Travelling Allowance: This order was issued after consultation with the Comptroller and Auditor General of India, as mandated under Article 148(5) of the Constitution.




d

Covid-19: Armed Forces set up quarantine facilities for those returning from overseas

The Indian Navy has also set up a facility at Visakhapatnam, which too can take in 200 people with all the facilities available inside.




d

Thane BJP corporators refuse to contribute to COVID-19 fund

In a letter to the Mayor, BJP leader Sanjay Waghule alleged that there was no transparency in the civic body's COVID-19 relief activities.




d

ED attaches Rs 16.38 cr worth of Mumbai AJL asset; names Vora

It said the attached property is a 9-storey building in Mumbai having two basements and total built up area of 15,000 square metres.




d

Who is paying the railway ticket price for migrant workers? Delhi, Bihar ministers spar

After the central government has permitted the operation of special trains to take migrants back to their hometowns, a debate on who will bear the cost has been going on.




d

Vande Bharat Mission: Now a UV based luggage disinfector system from DRDO

The baggage undergoes a 180-degree vertical orientation change between 2 separate UV chambers which help in ensuring uniform radiation exposure all throughout the surface.




d

TDP chief urges PM Modi to set up scientific experts’ committee to probe Vizag gas leak incident

Following the gas leak incident, the National Green Tribunal ordered LG Polymers India to pay interim damages of Rs 50 crore and issued notices to the company, Central Pollution Control Board (CPCB), state and Centre.




d

Mother’s Day 2020: 4 smart tips for new moms to manage their money well

Here are some financial planning tips for new moms to help you get your finances on track for a worry-free future.