Prime Minister Narendra Modi has announced a complete lockdown of 21 days for the entire country. Finance Minister Nirmala Sitharaman announced a slew of measures for relaxation of statutory and regulatory compliances amid coronavirus outbreak. Mylab is targeting to produce 150 kits, which translates to 15,000 tests in batch sizes of 100 tests per day, in the next two days. Read for more top stories from the world of business and economy:
Nationwide lockdown: PM Modi said that if India does not manage the lockdown for these 21 days then India will be pushed back by 21 years. He added that this lockdown is more important than the janta curfew
PM Modi said that the fund will be used for developing health infrastructure in the country, including increasing the number of beds, testing kits, and even training of professionals to combat the disease
FM Sitharaman addressed taxpayers' concerns related to income tax returns, corporates' demand related to compliance, GST deadline, IBC related matters, and other related compliances
Almost the entire industry has come to a standstill since Monday as the government has enforced curfew in a few states and lockdown in various parts of the country to prevent the spread of the virus in the country
Mylab's director Dr Gautam Wankhede says they are in a position to start supplying because they already have "the raw material and been in the molecular diagnostics manufacturing for the last three to four years"