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It was an action-packed week for the economy, as the government and businesses began to map out the way ahead. Catch up on BL’s key stories on the subject in this curated reading list.
Deep dent
The April PMIs provided dire hints on the lockdown impact on the economy.
Read more:Lockdown impact: Services PMI in April at all-time low of 5.4
Read more:Manufacturing PMI slips to unprecedented 27.4 in April
Expecting a U
Moody’s thinks India’s GDP growth will be zero in FY21 but predicts a rebound to 6.6% in FY22
Read more:Moody’s slashes India’s GDP growth to `zero' in FY21
Don’t make in China
The Centre and States have identified 4.6 lakh hectares of land to be allotted to firms quitting China to ‘Make in India’.
Read more : India offers land twice Luxembourg's size to companies leaving China
Up in arms
Trade Unions are protesting decisions by some States to suspend critical labour laws to restart business.
Read more:Unions up in arms as State govts dilute labour laws via ordinances
Connecting markets
The Railways is turning out to be a go-to option for FMCG firms seeking logistics during the lockdown.
Read more:To keep the wheels of their supply chains running, FMCG majors try out trains in lockdown
Cash cow
Once again, fuel taxes have been hiked to rescue government finances, but without retail price hikes.
Read more:Sharp excise hike on petrol and diesel: Centre taps into cash cow again
Restarting
Bajaj Auto sold over 32,000 units in April, mainly to export markets, an 80% fall over last year.
Read more:Bajaj Auto sells over 32,000 units in April 2020
Slowdown
India’s smartphone sales flattened in Q1 but that was better than in other countries.
Read more:India’s smartphone market witnessed flat opening in Q1, hope for revival in the festive quarter: IDC
Stimulus ahead?
The Government has raised its borrowing target for FY21 by Rs 4.2 lakh crore, raising hopes for a fiscal stimulus.
Read more:Centre to borrow ₹4.20-lakh crore more; fiscal deficit may widen to 5.4%
Uneven spread
Chennai MSMEs say the geographical distribution of permits to restart operations has been inequitable.
Read more:Chennai MSMEs allege bias in permission given to restart operations
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