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Lockdown, Day 50: Sitharaman sets the stage
Finance minister NIrmala Sitharaman today laid out PM Modi's vision for Atma-nirbhar Bharat Abhiyan. The government pledged around 10% of the nation's GDP, or Rs 20,000 lakh crores to take the fight to the coronavirus pandemic which has butchered the Indian economy, even as major Indian states stand to lose 97,100 crore in April alone
Here are the latest updates from today:
COUNT SO FAR:
FINE PRINT OF THE ECONOMIC PACKAGE
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Has India failed its labour class? Tell us here
Here are the latest updates from today:
COUNT SO FAR:
 | 152 new cases reported in Rajasthan, taking the total number to 4287. |
| Total number of cases in Uttarakhand are 70, with 23 active cases. |
| As on May 12, 101 new cases reported in Odisha taking the total number of cases to 538. |
| 359 new cases were reported in Delhi taking the total number of cases to 7998. |
| 2 more cases reported in Chandigarh, total number at 189. |
| 3 new cases in Haryana, total number at 783. |
| 26 more cases reported in Karnataka till 12 pm today, with total at 951. |
| World | India | ||
| Tally | Toll | Tally | Toll |
| 4,278,180 | 292,376 | 74,281 | 2,415 |
FINE PRINT OF THE ECONOMIC PACKAGE
| At 10% of GDP, PM Modi's Atma-nirbhar Bharat Abhiyan ranks among the biggest in world. |
| The due date of all IT Return filings extended from July 31 to November 30. |
| At $266 billion, the stimulus value in dollar terms is almost equal to Pakistan's annual GDP of $284 billion. |
| Govt announces Rs 3 lakh crores collateral-free automatic loans for businesses, including SMEs. Borrowers with up Rs 25 Cr outstanding and Rs 100 Cr turnover are eligible. |
| Govt to provide stressed MSMEs with equity support; will facilitate the provision of Rs 20,000 cr as subordinate debt. |
| Rs 50,000 cr equity infusion for MSMEs through fund of funds. |
| Govt to take up PF for firms with 100 staff, earning less than Rs 15,000. |
| Statutory PF contribution by employer reduced to 10 pc from 12 pc earlier; to provide Rs 6,750 cr liquidity relief. |
| Rs 90,000 crore liquidity injection for Power Distribution Companies. |
| Govt announces Rs 45,000 crore liquidity infusion through a Partial Credit Guarantee Scheme 2.0 for NBFCs. |
| Major states are collectively looking at a revenue loss of around Rs 97,100 crore in April alone. |
| Tata Motors and Ashok Leyland have resumed operations. |
| Maruti fourth-quarter profit slumps 28% on weak demand. |
| BRICS' New Development Bank provides USD 1 billion loan to India to fight COVID-19. |
| Worldwide coronavirus cases pass 4.28 million, death toll crosses 290,000 |
| Mexico sees 353 deaths in its most lethal coronavirus day. |
| The UK economy shrinks 5.8% in March, most on record. |
| Singapore's health ministry confirms 675 new coronavirus cases. |
| Russia reports 10,028 new confirmed cases, pushing its nationwide tally to 242,271. |
| Los Angeles residents are likely confined through July 2020 unless cases dramatically decrease. |
| 26 new people were detected with coronavirus in Nepal, taking the COVID-19 positive tally in the country to 217. |
| US virus expert Dr Fauci admitted the true number killed by the epidemic in the US is likely higher than the official toll of over 82,000. |
| More than 300 lawmakers urge IMF, World Bank to cancel poor countries' debt. |
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Has India failed its labour class? Tell us here
