Biz EOD: Stimulus 2.0 to boost Agri-infra; COVID-19 curbs NHAI projects; India's exports shrink
BusinessToday.In May 16, 2020
Finance Minister Nirmala Sitharaman announced Rs 1 lakh crore fund to boost agriculture infrastructure across the country. As per an analysis done by CRISIL, almost 20 per cent of NHAI's projects fall in the designated red zones where business activity is prohibited. India's exports shrank by a record 60.28 per cent to $10.36 billion in April as production units remained closed due to coronavirus lockdown. Read for more top stories from the world of business and economy:
In UP, which has the highest number of under-construction highway projects (15 per cent), almost a third of them are in red zones.
Around 30 per cent of agricultural households still avail credit from non-institutional sources. An RBI report states the probable reasons could be their credit demand might be for consumption purposes.
The decline in exports has been mainly due to the ongoing global slowdown, which got aggravated due to the current Covid-19 crisis.
"Lack of adequate cold chains and post-harvest management infrastructure in the vicinity of farm-gate has caused gaps in value chains," she added.