World Bank grants $1 billion to help India fight coronavirus : Bulletin: Business Today
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World Bank grants $1 billion to help India fight coronavirus

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April 3, 2020

PM Modi plans for staggered exit from lockdown; asks state govts for help
Prime Minister Narendra Modi, on Thursday, asked chief ministers to send suggestions on a joint strategy for a "staggered" exit from the lockdown. He also urged the CMs to focus on COVID-19 containment measures - testing, tracing, isolation and quarantine- in a coordinated manner to ensure minimum loss of life.

PM Modi asks people to switch off lights for 9 minutes on April 5
Prime Minister Narendra Modi in his address to the nation on Friday asked people to spare nine minutes on April 5 (Sunday) and switch off their home lights. He urged people to come to their balconies, doors and switch on their mobile phone flashlights and light diyas also to strengthen their fight against novel coronavirus pandemic. PM Modi asked the people not to assemble on roads during the said nine minutes on April 5, as this will break the chain of social distancing.

World Bank grants $1 billion to help India fight coronavirus
The World Bank has granted $1 billion emergency funding to India for strengthening infrastructure to contain coronavirus. These funds are meant to develop the machinery required for fighting the coronavirus pandemic. Efforts are being made to redeploy resources in existing World Bank financed projects worth $1.7 billion.


Coronavirus lockdown: Delhi govt to give Rs 5,000 to auto, cab drivers
Delhi Chief Minister Arvind Kejriwal has promised to help auto and cab drivers in the city, as their livelihood has been severely hit due to the 21-day lockdown. Talking about the special plan the government has for them, Kejriwal said, "Rs 5,000 will be put in your accounts. But the problem is that we don't have all your bank details. So it will take seven to 10 days. Please be patient."

Volunteer disinfectant sprayers help Wuhan prepare for a return to work
Volunteers in hazmat suits have been spraying Wuhan with disinfectant to help the Chinese city where the coronavirus first took hold get back to work as the number of new cases in China drops. Wuhan, where 11 million people live, had been paralysed by containment efforts imposed by authorities, who shut down public transport as well as taxi services as part of a lockdown, leaving it mostly to ordinary citizens to keep the city running.

Coronavirus effect: India's property prices likely to face steep decline
India's real estate market is likely to see a significant price correction for the first time in a decade as the coronavirus pandemic stalls businesses across the country, according to a half-dozen industry insiders. Experts say property prices may come down by 10-20% across geographies, while land prices could see an even higher reduction of 30%. In the last year, things had taken a turn for worse because of a liquidity crunch at shadow banks - which are big lenders to both developers and property buyers - forcing companies to offer discounts.




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