FM LIVE: Govt ends coal mining monopoly, allows pvt firms in space research

4:13 PM

Govt announces policy reforms to fast-track investments

* Fast track investment clearance through Empowered Groups

* Project Development Cell in each ministry to prepare, coordinate with investors

* Ranking of states on investment attractiveness to compete for new investments

* Incentive scheme for promotion of New Champion sectors will be launched in sectors such as solar PV manufacturing, advanced cell battery storage and others

4:09 PM

Structural reforms focus of announcement today

FM recalls policy changes adopted by the government 

 

* Direct Benefit Transfer

* Goods and Services Tax

* Insolvency and Bankruptcy Code

* Steps were taken for ease of doing business

* Direct taxation records

* Power Sector reforms

4:06 PM

FM Sitharaman begins press conference

Finance MInister Nirmala Sitharaman said that we have announced relief for MSMEs and other sectors, PM has said that in building a self reliant Bharat, "We need to be self-reliant and strong enough to face the challenges of global supply chain. Many sectors need policy simplification, wherby we can make it simpler for people and bring in transparency and so on. Once we decongest sectors we can provide necessary boost for growth and employment."

4:00 PM

Stay tuned, FM Sitharaman's press coference to begin shortly

Finance Minister Nirmala Sitharaman's press conference to announce the fourth set of measures is set to begin shortly. STAY TUNED!

3:56 PM

Don't act like moneylenders, put more money in hands of poor: Rahul to govt

Congress leader Rahul Gandhi on Saturday said the government should not act like moneylender by giving credit; it should instead put money into the accounts of the poor. While interacting with the regional digital media over video conference, Gandhi said Prime Minister Narendra Modi should reconsider the package and fire up demand by giving money to the poor. He noted that if demand was not generated, the country would suffer a bigger loss economically than it might from coronavirus. Read More

Rahul Gandhi

3:50 PM

Exports fall at fastest pace in 25 yrs in April due to coronavirus lockdown

India’s exports contracted by a record 60.28 per cent in April to $10.36 billion, shrinking for a second straight month as the Covid-19-induced lockdown took its toll on trade with other countries. The rate of fall in outbound trade was the most since at least April 1, 1995, as manufacturing units remained shut for the first 20 days owing to the nationwide curbs, and faced major logistics and supply-side hurdles later on. The country’s exports had declined by 34.57 per cent in March. Read More

3:38 PM

Stimulus a giant step forward in helping farm sector attain global primacy

Crisis is a time for unified action and revisiting the assumptions of the past. The farm sector and farmers have observed the economic growth story of the country from the sidelines, often constrained by policies that outlived the economic realities within which they were designed. The slew of reforms announced as part of the Government’s stimulus package for the agriculture and allied sector promises to change the way farmers interact with the marketplace, introducing more actors in the processing and small food enterprises across agriculture and allied sectors. Read More

3:32 PM

Coronavirus LIVE: Railways ferry 1.4 mn citizens in 1074 Sharmik trains

Coronavirus India update: At least 24 migrant labourers were killed and 15 others injured in a road accident in UP's Auraiya district early Saturday morning. Prime Minister Narendra Modi condoling the death said, "The accident in Auraiya of Uttar Pradesh is very tragic. The government is carrying out relief work in full swing." Follow LIVE UPDATES Here

3:22 PM

Quick recap: FM's Day 3 stimulus focused on agriculture, allied activities get Rs 1.5-trn package

Finance Minister Nirmala Sitharaman will unveil the fourth set of stimulus measures, likely focusing on industries and sectors reeling from a nationwide lockdown to tackle the coronavirus pandemic. The stimulus is part of Rs 20 trillion fiscal and monetary package announced by Prime Minister Narendra Modi to support the economy battered by the coronavirus pandemic. On Friday, the government unveiled 11 measures aimed at supporting agriculture and farmers including an impetus on the fisheries sector. While eight of the measures aimed at financial support, three measures called for governance reforms. The Minister had on Thursday announced Rs 3.16 trillion support for vulnerable sections, including migrant workers, farmers, tribals, street vendors, and the middle class. Read More

3:21 PM

Welcome to Business Standard LIVE Blog

Hello, 
Welcome to Business Standard LIVE Blog as we bring to you details from the fourth set of measures to be announced by Finance Minister Nirmala Sitharaman.