B2B e-commerce platform Udaan has fired several of its ground staff who were working on a contractual basis for the Bengaluru-based company. Confirming the layoffs to Business Standard, the company said each associate who has been impacted has been provided with additional compensation of one month and will be part of priority hiring list where … Read more
Despite the strain on government finances due to the COVID-19 pandemic, there is no credible proposal to amend the legislation meant to control the fiscal deficit, Chairman of the 15th Finance Commission N.K. Singh said. Speaking to presspersons after a two-day meeting of the Commission’s Economic Advisory Council, Mr. Singh said the government was currently … Read more
Large companies such as JSW Steel Ltd, Tata Power Ltd and Piramal Enterprises Ltd are among at least 328 firms that have applied for a loan moratorium, data compiled by rating agency Icra Ltd showed. Most of the applicants have a relatively safe credit rating of AA, or lower. While some companies could be facing … Read more
The process of “unwinding” the lockdown imposed to contain COVID-19 has already begun, and most sectors of the economy will be open by May 3, Principal Economic Adviser Sanjeev Sanyal told members of the PHD Chamber of Commerce and Industry via a video-conference call. “Well before the rest of the world is out and about, … Read more
Economic engine is halted, panic is unprecedented. Road to recovery is going to be anything but easy.
MUMBAI/NEW DELHI: The government has permitted manufacturing and other industrial establishments to operate from April 20, but the big question is how will they bridge the gap in labour supply? A large section of migrant workers engaged in contract labour, e-commerce and logistics operations and other project-related activities — estimated at around 5 crore — … Read more
Unprecedented times… Some key points to consider before deciding what to do and what not to !
At least Rs 10.52 trillion worth of corporate loans — around 16 per cent of the system-level corporate debt — is likely to default over the next three years due to prolonged slowdown in the economy. Further, around 25 per cent of the vulnerable debt is likely to turn delinquent, resulting in additional Rs 2.54 … Read more
Demonetisation, GST, RBI, IMF, millennials, phones, cars, politics, movies, restaurants…