Business

Asia's fourth-largest economy is among the first countries to bring a major outbreak of the virus under control, with a vigorous without mandatory lockdowns or a gigantic debt-funded rescue package.

Nestle also said it is launching a 500 million Swiss franc program to help its food service suppliers during the coronavirus crisis, by extending payment terms and suspending rental fees for coffee machines.

The pandemic has killed nearly 170,000 people, routed financial markets and could trigger the worst economic meltdown since the 1930s Great Depression.

The rise in unemployment could be larger now than in previous cycles because the downturn is much larger and is concentrated in the services sector, S&P Global Ratings said.

After hitting a high of 32,056.47, the 30-share index pared some gains to trade 113.59 points or 0.36 per cent higher at 31,702.31.

Sources said GST exemption on such items would lead to blocked input tax credit (ITC), thereby increasing the cost of manufacturing and a higher price for consumers.

The IMFC, including donor countries, agreed on the importance of ensuring that the IMF could support its poorest and most vulnerable members.

However, the pace of growth in folio numbers dropped in the just concluded financial year 2019-20 as compared to preceding two fiscal, which suggests investors' understanding about market risks associated with such schemes.

CAIT has also assured the government that the traders will continue to run the supply chain of essential goods in a 'most efficient and effective' manner so that citizens do not face any difficulty.

The inflation in the food basket was 8.76 per cent in March 2020, lower from 10.81 per cent in the previous month, as per the CPI data released by the National Statistical Office.

To keep these accounts active the subscribers are required to make some specified deposit in a year otherwise penalty is charged over that.

The Commerce and Industry Minister interacted with several industry and trade associations through video conferencing to assess the ground situation and problems being faced by them in the wake of Covid-19 and subsequent lockdown.

The rupee opened weak at 75.83 at the interbank forex market and then fell further to 75.85, down 21 paise over its last close.

Traders said investor sentiments remain fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.

In a move to extend the availability and reach of online services in the wake of the COVID-19 pandemic, the EPFO (Employees' Provident Fund Organisation) has issued revised instruction.

Jindal Steel and Power informed exchanges that the company has reported its highest domestic and overseas steel and related products production and sales during FY20.