Covid 19

"Even as uncertainty with regard to the evolution of the pandemic exists, the underlying demand drivers for the industry remain intact. Expectations of healthy rabi cash flows, continuation of various Government support programmes, healthy financing availability and a normal monsoon forecast, are likely to aid farm sentiments," the agency said.

Accordingly, Finance Minister Nirmala Sitharaman announced eight relief measures worth Rs 6,28,993 crore. These measures entail enhancement of existing relief schemes such as ECGLS and support for state governments. Besides, a total of four new measures were announced to provide loans to micro credit borrowers as well as tourism industry.

The scheme would include Rs 50,000 crore loan to the health sector aimed at scaling medical infrastructure targeting underserved areas. The scheme would entail guarantee cover for expansion and new projects related to health and medical infrastructure in cities other than eight metropolitan cities. For aspirational districts, the guarantee cover would be 75 per cent for both new projects and expansion.

The government also provided relief to the family members of a taxpayer falling prey to Covid by providing income-tax exemption on the ex-gratia payment received by them from the employer or from any other person. This exemption shall be allowed without any limit for the amount received from the employer, while the exemption shall be limited to Rs 10 lakh in aggregate for the amount received from any other person, a Finance Ministry statement said.

The three-day online sale will continue until 11:59 p.m. on July 4. The sales event helps generate demand for the differentiated selection of products offered by lakhs of sellers, manufacturers, startups and brands, women entrepreneurs, artisans and weavers, and local shops, said a company statement.

In April last year, total FDI inflows stood at $ 4.53 billion. Though lower base of last year has helped push up FDI growth this year, in overall terms, the numbers reflect return to the pre-pandemic levels of overseas investment in India. According to government data, in April this year, FDI equity inflows amounting to $4.44 billion were reported in the country, which is also an increase of 60 per cent over the FDI equity inflows of April 2020.

According to Preliminary Estimates of Household Financial Savings released by Reserve Bank of India (RBI), household financial savings is placed at 8.2 per cent of GDP in Q3 of 2020-21. This is a sequential moderation for the second consecutive quarter after having spiked in the pandemic-hit first quarter of 2020-21.

While companies have raised capital last fiscal and will continue with cost-control measures to cut cash losses, a significant decline in travel, and continued uncertainty about the pandemic will weigh negatively on their credit profiles. This is as per Crisil's study of three sector majors that account for over half of the domestic tours and travel industry, with a reported revenue of Rs 11,300 crore in fiscal 2020.

The second wave of COVID-19 and the subsequent lockdowns came as India had been on a steady path toward economic recovery and double-digit growth. The virus resurgence adds uncertainty to India's growth forecast for 2021; however, it is likely that the economic damage will remain restricted to the April-June quarter.

Shecession -- an economic downturn where job and income losses are affecting women more than men. The term was coined by C. Nicole Mason, president and chief executive of the IWPR, a thinktank. The report, based on the survey responses of 1,891 professionals from May 8 to June 4, revealed how the aftermath of the pandemic's second wave has left Indian professionals -- particularly Gen Z and working women -- increasingly vulnerable to the economic uncertainty in today's evolving job market.