Coronavirus to inflict up to $8.8 trillion in global losses: ADB : Bulletin: Business Today
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Coronavirus to inflict up to $8.8 trillion in global losses: ADB

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May 15, 2020

India to provide free food grains to millions of migrant workers

Announcing second tranche of economic package, Finance Minister Nirmala Sitharaman has said the central government will provide free food grain supply to migrants for next 2 months. This will benefit about 8 crore migrants, says FM. The Centre is also engaging with state governments to approach and identify the migrants. The second phase of announcement on the economic package will focus on migrants, small businesses, small farmers and street vendors.

Lockdown 4.0: Relaxations in New Delhi from May 18 based on Centre's decision, says Kejriwal

Delhi Chief Minister Arvind Kejriwal said that different economic activities will be allowed in New Delhi from Monday based on Centre's decision on lockdown relaxation. He also said that the government has received over 5 lakh suggestions from Delihittes on lockdown restrictions. The suggestions will be discussed with Lieutenant Governor and State Disaster Management Authority and then sent to Centre for approval.

4 Shramik Special trains to ferry migrants from Greater Noida to Bihar on May 16

Four trains will run for Bihar from Greater Noida on Saturday to ferry migrant workers and labourers who have registered themselves with the Uttar Pradesh government home, the Gautam Buddh Nagar administration said.

How effective is Tranche II of FM Sitharaman's economic package?

Farmer loan disbursals in FY21 running woefully short of target

While announcing relief measures for farmers, Finance Minister Nirmala Sitharaman  said that 63 lakh agriculture loans worth Rs 86,600 crore had been approved in the lockdown affected period from March 1 to 30th April, 2020. That amount may appear significant. However, the loan disbursals are woefully short of the Centre's target for the fiscal so far.

Coronavirus to inflict up to $8.8 trillion in global losses, says ADB

Global economic losses caused by the coronavirus pandemic could be between $5.8 trillion and $8.8 trillion this year, the Asian Development Bank (ADB) said on Friday, more than double its earlier estimates as containment measures paralyse economies. The ADB's forecast, equal to 6.4% to 9.7% of global gross domestic product, was worse than projections in April.

Coronavirus lockdown: Amazon India tweaks operations playbook for safety of employees, customers

Amazon India said that it has made nearly 100 changes in its on-ground operations to maintain social distancing in its buildings and ensure safe deliveries for customers, associates, employees and partners. With the third phase of the lockdown set to end on May 17, e-commerce companies still wait for the government's nod to start full-fledged services. Currently e-commerce companies are allowed to only supply essentials.

Coronavirus effect: Donald Trump threatens to cut off all ties with China

US President Donald Trump on Thursday threatened to cut off the whole relationship with China in response to the spread of the novel coronavirus across the world that has killed nearly 300,000 people globally, including over 80,000 in America. There has been increasing pressure on the president, in the last several weeks, to take action against China as lawmakers and opinion-makers feel that the Covid-19 spread across the world from Wuhan because of Chinese inaction.

Coronavirus live updates: Tamil Nadu pips Gujarat; becomes 2nd worst-hit state with COVID-19 cases at 9,674


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