The federal government is anticipated to announce a financial stimulus package anytime today to help out the economy that has been damaged by the coronavirus pandemic.
News has actually likewise been can be found in from throughout the nation that the shipment of vital items has actually been affected by police action versus retail shipment representatives.
Meanwhile, stocks are off to a strong start this morning and the rupee has made some gains against the US dollar.
Join us as we follow the leading business news through the day.
2: 45 PM
Fresh fruit and vegetables in Europe set to be more limited as coronavirus strikes
Just how will the nation-wide lockdown enforced to stop the spread of the coronavirus pandemic impact the accessibility of vital products over the coming weeks?
Europe’s lockdown experience provides some insight.
Reuters reports: “Fresh fruit and vegetables will end up being significantly limited in Europe, suppliers alert, as the coronavirus pandemic hinders the worldwide motion of fruit and vegetables and of individuals needed to gather crops.
While Europe’s grocery stores state they are still getting most produce, supply pressures are building at source, consisting of in Africa, a crucial company of fresh products, and within Europe.
Shops that are currently handling hoarding by customers might have a hard time to keep shelves equipped.
In Kenya, a significant supplier of green beans and peas to Europe, half of the employees in the sector have been sent out house on compulsory leave because of the market’s inability to ship orders, even as need from European retailers rise.”
1: 30 PM
Finance Minister reveals financial rescue plan
Emphasizes from Financing Minister’s continuous press conference:
Economic stimulus settled to deal with impact of corona lockdown
Rs 1.70 lakh crore Pradhan Mantri Gareeb Kalyan scheme to help the needy
Will guarantee cash is offered to bad people
Rs 50 lakh per individual insurance cover for physicians, paramedic, healthcare workers handling coronavirus outbreak
80 crore poor individuals will get 5 kg wheat or rice and 1 kg of preferred pulses for free monthly for the next three months
Govt to front-load Rs 2,000 paid to farmers in very first week of April under existing PM Kishan Yojana to benefit 8.69 crore farmers
Increase in MNREGA wage to Rs 202 a day from Rs 182 to benefit 5 crore families
20 crore females Jan Dhan Account holders to get Rs 500 per month for next 3 months to assist them run their households
Ex-gratia of Rs 1,000 to 3 crore bad elderly person, bad widows and bad handicapped
Ujjwala recipients to secure free cooking gas (LPG) cylinders in next 3 months; this will benefit 8.3 crore BPL households
Collateral-free loan doubled to Rs 20 lakh to 63 lakh ladies self-help groups; to effect 7 crore families
Govt to pay employee, company contribution to PF for 3 months for establishment with 90 pc of personnel with Rs 15,000 wage
Workers to be enabled to draw non-refundable advance of 75 pc from credit in PF a/c or 3 months salary, whichever is lower
Rs 1.7 lakh crore economic plan will be carried out with instant result; cash doles from April 1
We are conscious of the impact this will have on banks, as people will need to access their cash transfers.
Banks and bank branches, ATMs, banking reporters are all vital services and will