In an address to the nation on Tuesday, Prime Minister Narendra Modi announced an extension of the nationwide lockdown till May 3. The Prime Minister said that the lockdown will be strictly implemented till April 20, while areas outside coronavirus hotspots may be given conditional relaxation to resume important activity after April 20.
The announcement comes as India's coronavirus count nears 11,000, with 368 deaths reported, as per Worldometer. Several states including Punjab, West Bengal, Maharashtra and Mizoram had earlier announced an extension of the lockdown. The announcement followed after the Prime Minister discussed India's coronavirus situation with all chief ministers in a video conference on Saturday.
Thousands of migrant labourers gathered at Mumbai's Bandra station hoping to return home as they expected the lockdown to end today. The daily wage earners demanded arrangements of transport facilities to head back to their villages in Uttar Pradesh and West Bengal. In Surat, hundreds of migrant workers staged a protest, demanding that they be sent back to their native villages.
IMF's Chief Economic Adviser Gita Gopinath termed the economic downturn resulting from the coronavirus pandemic the worst since the Great Depression of 1929. Terming it 'The Great Lockdown', IMF projects that the global growth in 2020 will fall to -3 percent — a downgrade of 6.3 percentage points since just three months ago. The cumulative loss to global GDP could be around $9 trillion — greater than the economies of Japan and Germany combined.
IMF also cut India's GDP growth to 1.9 percent for financial year 2021 — its worst growth performance since 1991 liberalisation. It also said that India and China were the only two major economies to register a growth, while all other economies are forecast to be contracting.
Here's a roundup of YourStory's coverage today of how India and the world are dealing with the coronavirus pandemic.
On-demand fuel delivery startup MyPetrolPump, which supplies fuel to OYO, Treebo, and delivery startups, is ensuring that the fleet stays on the ground during coronavirus lockdown.
During YourStory’s SMB week, powered by Amazon Web Services (AWS), industry leaders from the BFSI sector came together on a WhatsApp chat to discuss how SMBs can start adopting cloud services during these uncertain times to ensure business continuity.
Amid the coronavirus lockdown, Swiggy has partnered with several commercial kitchens, NGOs, and state governments to provide daily meals to thousands of underprivileged people.
Drone manufacturer ideaForge has deployed drones at Sangli in Maharashtra and Guwahati in Assam to monitor crowds to help control the spread of coronavirus.
While PHDCCI has submitted inputs to the government for boosting the performance of small businesses (MSMEs) during coronavirus crisis, a lot more needs to be done to give a lift to the struggling sector.
Ecommerce giant Amazon has come out in support of its employees and customers to fight the coronavirus by creating some global processes, which is being implemented in India and other countries.
Earlier this month, Zomato launched Gold Support Fund to give all the proceeds from the purchase of Zomato Gold annual memberships in April towards supporting restaurant housekeepers, cooks and servers as well as their families.
InMobi gets around 75 percent of its revenue from overseas markets with North America contributing 50 percent and China 25 percent.
Uber has announced the launch of Uber Essential to facilitate essential travel for residents of Bengaluru, Hyderabad, Gurugram, and Nashik. It is a limited mobility solution approved by the government authorities for hospital and pharmacy visits.
Vera Smart Healthcare uses GPS and Geotagging to identify, track, monitor and provide real-time analytics to the Chief Minister and Health Department of Telangana.
A unique webinar by Venture Gurukool Capability Fund, in partnership with YourStory & AWS, saw entrepreneurship and industry experts from Shanghai and Beijing share their learnings from the way the Chinese startup ecosystem battled challenges of COVID-19 and how India can take notes from it.
Miss hanging out with your friends? No plans for the weekend? Here’s how people across the world are in touch and have been keeping the fun alive.
Due to the COVID-19 pandemic, medical staff and health workers are facing a shortage of PPE kits.
After a tigress in the US fell prey to the novel coronavirus, the National Tiger Conservation Authority in India has ensured the setting up of isolation wards in India’s tiger reserves.
Unanimity and mutually-shared responsibility are crucial for startups in the slow return to normalcy during coronavirus crisis.
The pandemic and restrictions on the sale of non-essential products have taken a toll on online sellers like Rishabh. A significant portion of his income came from the sale of cosmetics. Today, he is hard at work fulfilling orders for essentials like sanitisers and soaps so that people can stay safe.
Social media giant Facebook on Monday said it has launched an online resource guide on how to collaborate and continue the learning process using Facebook products, tools, and programs amid the coronavirus pandemic.
PM Narendra Modi lauds country’s cooperation and extends coronavirus lockdown till May 3. States will ensure strict enforcement of lockdown regulations till April 20, and there could be an easing depending on the situation after that.
Fast food brands such as McDonald's, Pizza Hut and KFC have committed to serving meals to medical and frontline staff at government hospitals across cities as part of their COVID-19 relief initiatives in India, the companies said.
Bharti Airtel on Monday said it has teamed up with Apollo 24/7, the digital business unit of The Apollo Hospitals Group, to support India's fight against the COVID-19 pandemic.
The extension of the nationwide lockdown till May 3 will inflict an economic loss of $234.4 billion, and result in stagnant GDP for calendar year 2020, a British brokerage said on Tuesday.
Struggling Japanese conglomerate SoftBank Group on Monday forecast a $7 billion net loss for the fiscal year ending March 2020 due to the negative impact of coronavirus and losses related to WeWork.
The Union Minister for MSMEs said that discussions are already underway for financing 10 percent of the working capital for MSMEs amid the coronavirus-led lockdown.
UNESCO has said news media should be recognised and supported by all governments as an "essential service" to stop the COVID-19 "disinfodemic" that is putting lives at risk.
The workers, especially migrant labourers, are the worst hit due to the coronavirus lockdown as a large number of them either faced pay cut or job loss.
All domestic and international scheduled airlines operations shall remain suspended till 11.59 pm of May 3, 2020, the ministry tweeted.
These bike ambulances can be set up on any Hero motorcycle 150 cc and above.
Union Minister asks India Inc to clear huge outstanding payments to MSMEs to ease distress and inject liquidity into market in times of coronavirus crisis.
The automotive industry accounts for nearly 50 percent in India's industrial GDP and is one of the biggest employers - both through direct and indirect employment.
Designer Anita Dongre's label has started the production of 7,000 reusable masks every week for distribution to NGOs, hospitals and residents.
India Inc on Tuesday said the nationwide lockdown extension was necessary to avert a humanitarian crisis, but insisted on the need for a stimulus package to rebuild the economy hit hard by the COVID-19 pandemic.
With a subdued forecast due to coronavirus, India is likely to record its worst growth performance since the 1991 liberalisation, the IMF said.
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.