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Biz EOD: State finances in a mess; reforms for Atma Nirbhar Bharat; coronavirus no excuse for Road Ministry

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

twitter-logoBusinessToday.In | June 9, 2020 | Updated 23:50 IST
Biz EOD: State finances in a mess; reforms for Atma Nirbhar Bharat; coronavirus no excuse for Road Ministry
Top stories from the world of business and economy

States have witnessed 70-80 per cent drop in tax collections in April 2020 owing to nationwide lockdown imposed to curb the spread of coronavirus. PM Narendra Modi envisioned a bold list of five 'I's - Intent, Inclusion, Investment, Infrastructure, Innovation - as key pillars for the revival of economic growth. Ministry of Road Transport and Highways (MoRTH) has set an ambitious target of constructing 46 per cent over what it built in the previous year. Read for more top stories from the world of business and economy:

1. State finances in a mess! 70-80% drop in tax collection in April amid lockdown

Kerala's state GST collection in April this year dropped 78% to Rs 517 crore against Rs 2,407 crore a year ago.

2. Atma Nirbhar Bharat: 5 immediate reforms to make India a reliable manufacturing hub

The 'Atma Nirbhar' economic stimulus package, to the tune of 10% of the GDP (Rs 21 lakh crores) cushions the economy to a certain extent, but certainly there is more than can and should be done until the structural reforms are implemented.

3. Steel industry prioritises exports amid low domestic demand - but it comes at a cost

Indian steelmakers would have to push exports, even though less profitable, to keep operating at somewhat better capacity utilisation rates than what was reported in April 2020, says Jayanta Roy of ICRA.

4. It's not Jio, it's Facebook! The real reason Amazon wants to invest in Airtel

It's well known that over 90 per cent of the world's internet advertising revenue is pocketed by Google and Facebook and Amazon is soon catching up

5. 15,000 kms of highways to be targeted in FY21; 46% more than last year

The bid-out goal at 20,000 kms is equally high as it had managed to award 8,912 kms in FY20. The award run rate could have been higher had coronavirus pandemic not clouded investor sentiments.

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