Crop harvest takes centre stage in plans for lifting coronavirus lockdown

Crop harvest takes centre stage in plans for lifting coronavirus lockdown

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The Centre is brainstorming with states before it goes ahead with its plan to undertake a staggered lifting of the 21-day from April 15. Some of the issues that are likely to be taken up are harvest, procurement of grains by government agencies, and restoring inter-state supply chains.


A day after Prime Minister Narendra Modi sought suggestions on staggered lifting of the lockdown, some states stressed the need to restore supply chains. They also said the Centre wants them to identify hotspots of the virus, which could help in enforcing a limited in urban areas.



Experts, however, believe this will be temporary. A longer to contain the spread of disease (Covid-19) would be needed, with the number of cases and deaths from it spiking every passing day.


In his talks with chief ministers, Modi

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Biodiesel industry faces coronavirus heat as meat exports drop sharply

Biodiesel industry faces coronavirus heat as meat exports drop sharply

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Bio-diesel units in India are facing the heat of the disease (Covid-19) outbreak, as Asian and West Asian countries have stopped importing buffalo and goat meat, leading to a drop in animal tallow production, a key raw material of biodiesel.


Tallow is a rendered form of beef or mutton fat, used as a feedstock by the bio-diesel industry in winter. “Animal fat or tallow is used by a majority of manufacturing units as other sources like palm oil are costly. The problem is that animal fat is a by-product of the meat industry. After the outbreak of Covid-19, declined and our plants started running at around 30-40 per cent capacity since December,” said Shiva Vig, director, BioD Energy, a Haryana-based bio-diesel manufacturer.



Problems compounded after China started a clampdown of illegal imports through stricter border controls beginning in

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GST collection slips below Rs 1 trillion in March after four months

GST collection slips below Rs 1 trillion in March after four months

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(GST) collection fell below the Rs 1-trillion mark in March after a gap of four months, even as disruptions caused by the coronavirus-induced lockdown will get captured only in the coming months.


The numbers pertain to GST paid in February but collected in March, suggesting that collections might turn grimmer going forward.



The GST mop-up in March stood at Rs 97,597 crore, down 8.4 per cent on a year-on-year basis, the data released by the Ministry of Finance showed on Wednesday. The government had targeted a collection of Rs 1.25 trillion in March. grew by a meagre 3.7 per cent in the full fiscal year 2019-20.


The dismal collection in March is despite the stringent anti-evasion measures introduced by the government, including the blockage of e-way bill and restricting input tax credit to

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Covid-19: Some banking systems may need help if situation worsens, says IMF

Covid-19: Some banking systems may need help if situation worsens, says IMF

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Some countries’ banking systems might have to be recapitalised or even restructured, if their economies are severely handicapped by prolonged disruption from the outbreak, officials at the said on Tuesday.


Leading regulators and bank chief executives, particularly in the United States, have said lenders are robust enough to withstand the unfolding economic crisis.



Tobias Adrian, the director of the IMF’s monetary and capital markets department, told Reuters in an interview that in a ‘baseline’ scenario that would be a repeat of a 2009-type growth path, banks could withstand the adverse impact. Adrian cautioned, however, that conditions could deteriorate.


“(In a) beyond-severely adverse scenario, then it could be that some banks are undercapitalized and at that point policy makers might have to take further actions such as recapitalizing or restructuring banking systems,” Adrian said.


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Long Island Enterprise News, Occasions, Promotions & Extra

Long Island Enterprise News, Occasions, Promotions & Extra

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