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Biz EOD: Indians withdrew Rs 84,461 cr cash; PM-CARES Fund goes tax-free; WHO admits error

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

twitter-logo BusinessToday.In   New Delhi     Last Updated: April 10, 2020  | 23:59 IST
Biz EOD: Indians withdrew Rs 84,461 cr cash; PM-CARES Fund goes tax-free; WHO admits error
Top stories from the world of business and economy

According to RBI, Rs 53,000 crore was withdrawn- a 16-month high - in cash in the fortnight ended March 13 when lockdown rumours were at its peak. The government has said employees can claim 100 per cent tax relief on donation to PM-CARES Fund. The World Health Organisation (WHO) said that India has been wrongly represented at the stage of community transmission in its 'situation report' and the error has been corrected. Read for more top stories from the world of business and economy:

1. Coronavirus: Anxious Indians withdrew Rs 84,461 cr cash to tank-up for lockdown

This was more than double the amount drawn two fortnights before that; RBI says Rs 53,000 crore was withdrawn -- a 16-month high -- in cash in fortnight ended March 13 when lockdown rumours were at its peak.

2. Coronavirus crisis: States announce electricity tariff cut, tax incentives to industrial consumers

Maharashtra government, which is facing one of its worst-ever public health crisis in the form of the coronavirus outbreak, has announced a steep reduction in industrial power tariff to prop up struggling industry.

3. Coronavirus: Employees can now claim 100% tax relief on PM-CARES Fund donation

The employees can get relief on the donation made through their employer by mentioning it in their Form-16, the Central Board of Direct Taxes (CBDT) said in a clarification.

4. Coronavirus pandemic: No community transmission in India, WHO admits error

Union Health Minister Dr Harsh Vardhan told a set of diplomats that there is no community transmission in India.

5. Coronavirus crisis: ICMR allows TB-testing machine to boost screening process

TrueNat machine is able to provide test results under an hour and can run up to 32-48 samples of multiple diseases such as COVID-19, HIV, and TB. Additionally, the Truenat machine test would cost around Rs 1,000 - Rs 1,500.

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