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COVID-19 Pandemic Could Cause Deepest 'Economic Recession', Global Trade to Plunge in 2020, Says WTO

The COVID-19 pandemic could provoke the deepest recession in living memory, World Trade Organisation chief Roberto Azevedo warned on Wednesday.
States With Higher Number of COVID-19 Patients at Greater Risk of Fiscal Slippages: ICRA

It said those state governments which have a larger portion of their revenue receipts dependent on GST compensation, face greater revenue and liquidity risk as collection from the cess would be adversely impacted during the year.
All Pending Income Tax Refunds up to Rs 5L to Be Released Immediately; 14L Taxpayers to Benefit

The decision has been taken in the aftermath of the COVID-19 situation and with a view to provide immediate relief to the business entities and individuals, said the Department of Revenue.
FinMin Allows States to Borrow Rs 3.20 Lakh Crore From Market to Deal With COVID-19 Pandemic

The move comes amid states' demand for higher funds from the Centre to meet the expenses in dealing with COVID-19 pandemic.
India to Use Low Priced Oil from Saudi Arabia, UAE to Fill Strategic Reserves

Oil Minister Dharmendra Pradhan had in the last few days held talks with his counterparts in Saudi Arabia and the UAE with a view to shoring up supplies.
Sensex Ends 173 Points Lower, Nifty Sheds 43 Points Amid Coronavirus Outbreak

TCS was the top loser in the Sensex pack, falling over 3 per cent, followed by Titan, ICICI Bank, SBI, ITC and Bharti Airtel.
Adani Gas Slashes CNG And Piped Cooking Gas Prices in Line With Raw Material Rates

The firm, which retails CNG to automobiles in some districts of Haryana, Gujarat, Rajasthan, Madhya Pradesh, and Uttar Pradesh, cut CNG rates between Rs 1.5 per kg to Rs 3.6 per kg. The rate of natural gas piped to household kitchens for cooking purposes has been cut by Re 1 per standard cubic meter (scm).
Economists Pitch for Rs 3 Lakh Crore Additional Package to Tide Over COVID-19 Crisis

The already sagging economic growth is expected to go down further due to the COVID-19 pandemic, which has led to a three-week lockdown across the country starting March 25.
Goldman Sachs Estimates India's GDP Growth Rate at 1.6%, Predicts RBI Will Reduce Interest Rates

The forecast further stated that India’s economy will likely contract in the first two quarters of the year as consumption plunges during a three-week lockdown to contain the coronavirus outbreak.
Rupee Slips 21 Paise to 75.85 against US Dollar in Early Trade

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.