India to assess FY21 GDP contraction soon: FM Sitharaman : Bulletin: Business Today
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India to assess FY21 GDP contraction soon: FM Sitharaman

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Rashi Bisaria | October 20, 2020

Israel to begin trials of COVID-19 vaccine 'Brilife' by Oct-end

Israel has named its COVID-19 vaccine candidate 'Brilife' and its human trials will begin by October-end, according to an official press release. The prospective vaccine is being developed by the Israel Institute of Biological Research (IIBR) that was established in 1952 as part of the Israel Defence Forces' Science Corps, and later became a civilian organisation.

Big Billion Days: Over 70 sellers become crorepatis in first 3 days of sale

Several sellers on the e-commerce platforms are raking in the moolah amid the ongoing festive season sale. Flipkart and Amazon India said lakhs of sellers, including a significant chunk from tier-2 cities and beyond, have received orders during the initial days of the festive sale on their platforms.

Flipkart revealed that over 70 sellers on its platform have turned crorepati and roughly 10,000 have become lakhpati in the first three days of The Big Billion Days'(TBBD) sale.

India to assess FY21 GDP contraction soon: FM Sitharaman

Finance Minister Nirmala Sitharaman has said that her ministry is in the process of assessing the country's economic situation and will make an official forecast of the GDP contraction for 2020-21 soon. The minister, however, clarified that it is not certain whether it will be done in public or in the Parliament. She also ruled out giving any tentative deadline for giving an official GDP estimate for the current year.

India must not neglect bank recap despite COVID-19 pandemic, says Viral Acharya

India is neglecting bank recapitalisation as it focuses on debt moratoriums and interest waivers for borrowers amid the COVID-19 pandemic, a former central bank official told Reuters on Monday. Indian banks are saddled with over $120 billion in bad debt, and in severely stressed conditions the bad-loan ratio could nearly double by March, according to Reserve Bank of India projections.

Pakistan to unblock social media app TikTok

Pakistan has decided to lift a ban on popular social media app TikTok after the company vowed to block all accounts involved in spreading "obscenity and immorality", the country's telecom authority said on Monday. The move comes some 10 days after Pakistan blocked TikTok for failing to block "immoral and indecent" content.

Over 50% farmers do not favour new farm laws: survey

A survey by rural media platform Gaon Connection on the recently passed three agriculture laws in the country, showed that more than fifty per cent of farmers did not favour them. However, more than one-third of farmers opposing the laws were not acquainted with the details of these laws. As per the findings of the survey, the biggest fear of these new agri laws among the respondent farmers (57 per cent) was that they would now be forced to sell their crop produce at a lower price in the open market, while 33 per cent farmers fear the government will end the system of minimum support price (MSP), a price set by the government to purchase directly from the farmer.

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