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Biz EOD: Centre plans additional borrowing; another deal for Jio; Corona fallout deepens

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | May 9, 2020 | Updated 04:32 IST
Biz EOD: Centre plans additional borrowing; another deal for Jio; Corona fallout deepens
Top stories from the world of business and economy

A second stimulus package is in the making, but it has to match a long list of expectants. Coronavirus lockdown around the world have not stopped Reliance Industries to bag yet another deal for Reliance Industries.

Read for more top stories from the world of business and economy

1. What to spend Rs 4.8 lakh crore on? Modi govt has long list of the desperate

Another round of fiscal stimulus could include package for MSMEs, bank recapitalisation, DBT for poor among other expenditures.

2. Govt to borrow Rs 4.2 lakh crore more; FY21 fiscal deficit to be 5.5%

Nominal GDP will be around Rs 215 lakh crore instead of the budgeted Rs 225 lakh crore. Fiscal deficit will be 5.5-5.7 per cent against the budgeted target of 3.5 per cent.

3. Jio Platforms bags Rs 11,367 crore investment from Vista

The investment will translate into a 2.32 per cent equity stake in Jio Platforms, making Vista largest investor in Jio Platforms behind RIL and Facebook; in total, Jio Platforms has raised Rs 60,596.37 crore from leading technology investors in less than three weeks.

4. 'Debt monetisation should not constrain govt spending,' says Raghuram Rajan

Raghuram Rajan says there is a lot of concern in some quarters about central banks printing money to finance large budget deficits. And in other quarters there is concern that central banks are doing too little of it.

5. Coronavirus fallout: Moody's forecasts 0% GDP growth for India in FY21

India has so far outlined a Rs 1.7 lakh crore, or $22.53 billion, stimulus plan providing direct cash transfers and food security measures to give relief to millions of poor and a second package focussing on help for small and medium businesses.

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