The last time the country had a current account surplus was in the first quarter of 2006-07, again due to the cheaper crude, according to an analysis by foreign brokerage Barclays on Tuesday. https://www.moneycontrol.com/news/business/economy/coronavirus-impact-barclays-pegs-20-billion-current-account-surplus-in-fy21-5287591.html
Tirupur garment\knitwear cluster is upbeat on the directorate general of foreign trade’s (DGFT’s) Saturday decision to allow export of non-medical, non-surgical masks. https://www.financialexpress.com/economy/covid-19-tirupur-expects-500-million-additional-revenue-from-mask-exports/1963193/
Tata Consumer Products is all set to acquire PepsiCo’s stake in NourishCo Beverages as the FMCG giant looks to expand its food and beverage portfolio. https://www.financialexpress.com/industry/tata-consumer-products-pepsico-nourishco-fmcg-jv-tata-global-beverage-ltd-tata-himalayan-water/1963673/
“Loans worth over Rs 6.45 lakh crore were sanctioned by PSBs during March 1 – May 15 for 54.96 lakh accounts from MSME, Retail, Agriculture & Corporate sectors; A notable increase compared to the Rs 5.95 lakh crore sanctioned as of May 8,” Finance Minister Nirmala Sitharaman said in a tweet. Read more at: https://economictimes.indiatimes.com/industry/banking/finance/banking/rs-6-45-lakh-crore-worth-loans-sanctioned-by-psbs-during-march-1-may-15/articleshow/75822770.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Gold rose over 1% on Monday to its highest in more than seven years as dismal US data underscored how badly the COVID-19 pandemic has damaged the world’s top economy. https://www.moneycontrol.com/news/world/gold-jumps-to-highest-since-october-2012-on-dismal-us-data-palladium-surges-5280611.html
“Almost all the dealers foresee 10-30% drop in demand in fiscal 2021 due to delay/freeze in construction activity,” the report said. As markets reopen in the second half of May, cement prices are expected to jump Rs 15-20/ bag initially due to supply constraints However, over the medium term, we expect price hike to beContinue reading
The overall package, which stood at Rs 20,97,053 crore, included the Rs 1.92 lakh crore stimulus from measures announced by PM Modi recently such as the Pradhan Matri Garib Kalyan Package worth Rs 1.7 lakh crore. https://www.financialexpress.com/economy/breakup-of-the-rs-20-lakh-crore-economic-stimulus-package-by-fm-sitharaman/1961843/
Finance Minister Nirmala Sitharaman said the Centre has increased borrowing limits for states to 5 percent from 3 percent for FY21. https://www.moneycontrol.com/news/business/economy/fm-announces-increase-in-states-fy21-borrowing-limit-to-5-from-3-5277531.html
Agri package to help farmers, strengthen food processing linkages, stop wastages: ITC & Dabur Read more at https://www.moneycontrol.com/news/india/agri-package-to-help-farmers-strengthen-food-processing-linkages-stop-wastages-itc-dabur-5274931.html
Government amends global tender enquiry rules, move to promote Make in India, MSMEs Read more at https://www.moneycontrol.com/news/business/government-amends-global-tender-enquiry-rules-move-to-promote-make-in-india-msmes-5275261.html
