Finance Minister Nirmala Sitharaman on Wednesday announced the first tranche of the Rs 20 lakh crore economic stimulus package that was announced by Prime Minister Narendra Modi on Tuesday. In the measures detailed in the announcement, MSMEs, NBFCs, the real estate industry, and the EPF benefitted from the announcement.
The Prime Minister's Office has also announced that Rs 3,100 crore will be allocated from the PM-CARES Fund to fight COVID-19. Around Rs 2,000 crore is earmarked for the purchase of ventilators, Rs 1,000 crore will be used to take care of migrant labourers, and the rest will be invested in vaccine development.
The announcements come as the number of COVID-19 cases in India crossed 77,000, with more than 2,500 deaths reported, according to Worldometer. Meanwhile, in Madhya Pradesh's Sagar district, social distancing norms were flouted when a crowd gathered to welcome a monk and his group when they arrived. The video went viral on social media.
Across the world, the number of COVID-19 cases neared 4.4 million, and the number of deaths reached just shy of 300,000. Only a few places in the world remain free of coronavirus as Lesotho becomes the last nation in Africa to report cases. Meanwhile, economies all over the world are opening up. Mexico announced that it will reopen car plants, Germany is set to relax controls on all its borders, and Iceland is easing immigration restrictions.
Here's a roundup of YourStory's coverage today of how India and the world are dealing with the coronavirus pandemic.
The government has announced the reduction of tax deducted at source (TDS) by 25 percent with immediate effect and will be applicable till March 2021.
Noida-based edtech startup Edumarshal has expanded its offering from online campus management to video-based learning, and has grown 250 percent since the coronavirus lockdown.
Las Vegas-based Aiisma uses USSD feature for COVID-19 contact tracing in rural India, where users may not have access to phones with 3G, 4G, or 5G networks.
A product roadmap clarifies the why, what, and how behind what a tech startup is building. This week, we take a closer look at B2B ecommerce startup Jumbotail, which uses technology to address the inventory challenges of unorganised kiranas.
Aarogya Setu is now being used by over 100 million people. The government is planning to increase adoption of the app in feature phones too.
The company is part of COVID-19 Response Committee formed by NITI Aayog. Its key offerings include COVID identification, suspect tracing, PPE monitoring, security, safety, and hygiene analytics and people analytics.
Nirmala Sitharaman announced a slew of measures for SMEs, including revising definition and other measures to tackle liquidity and NPA concerns, all of which are aimed at making India 'aatmanirbhar' (self-reliant).
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UPES researchers, who developed the fabric helmet, say the primary beneficiaries will be students in schools and colleges where maintaining social distancing can be difficult.
Village Development Communities are enabling access to health, education, water, sanitation, and livelihood, to make villages self-reliant.
From a cleaner environment to mental health issues, a look at what’s in store in and after-COVID-19 world.
India Inc on Tuesday said PM Modi's Rs 20 lakh crore stimulus package was the "need of the hour" as it will pave the way for post-pandemic recovery and unleash the next wave of economic growth.
"There is a lot of big money involved. Also, if you release on OTT you cannot release it in theatres. If you release a film in theatre it will come on satellite as well as digital later," said trade analyst Taran Adarsh.
The current health crisis is a time to "not dismiss something as being too far out but being something we should look at", said Ratan Tata.
Seeking to boost the COVID-19-hit economy, Sitharaman announced Rs 3 lakh crore collateral-free automatic loan for businesses, including MSMEs.
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