Haryana allows select firms to deploy 100% workforce in multiple shifts
The Haryana government has decided to allow a few companies to operate factories in multiple shifts and utilise 100 per cent of their workforce and is planning to initially increase the number of shifts from one to two. Read more here
Govt mulls tax holiday for companies making new investments in India
The finance ministry is said to be evaluating a tax holiday of 10 years, which might apply to companies making more than $500 million worth of new investments in India. Read more here
Maruti starts to roll out cars from Manesar amid Covid-19 lockdown
Maruti Suzuki's Manesar facility on Tuesday has started to roll out vehicles after 50 days of shutdown due to coronavirus
epidemic while following the government guidelines on social distancing. Read more here
Covid-19 impact on sectors: Consumption story hits the slow lane
Read the last of three part series here
on the impact of coronavirus
highlighting the issues faced by the consumption story and in the media sector.
Record fall in March as IIP crashes to 16.7%, FY20 growth squeezed to 0.7%
India witnessed its biggest drop in industrial production in March with output crashing by Rs 16.7 per cent as factories were closed due to the coronavirus
lockdown. Read more here
Vodafone PLC liability for AGR capped at Rs 8,400 cr, blames SC order
Vodafone PLC has decided to value its majority stake in Vodafone Idea shares at zero and blamed the losses related to its Indian arm on the Supreme Court judgment. Read more here
Major relief for senior citizens as SBI offers 80 bps more on FDs
In a major relief for the senior citizens, the State Bank of India has decided to give whopping 80 basis points more for long-term FDs. Read more here
Vedanta to be delisted from Indian bourses, says Anil Agarwal
Mining major Vedanta is set to take the company private, the billionaire Anil Agarwal’s company said, the Economic Times reported.
PSU banks sanction ₹5.95 trillion loans from 1 Mar to 8 May
The finance ministry said that public sector banks sanctioned Rs 5.95 trillion in loans to small businesses, retail, agriculture and corporate sectors between 1 March and 8 May, the Livemint reported.