Finance Minister Nirmala Sitharaman announced the third tranche of the Rs 20 lakh crore economic stimulus package. The central government has appropriated Rs 1 lakh crore to strengthen the agricultural infrastructure including cold storage chains, post harvest management, and warehouses. The Finance Minister also announced a Rs 10,000 crore fund which will focus on micro-sized food enterprises to increase production.
The Indian economy continues to struggle with layoffs. Zomato announced a 13 percent reduction of workforce, along with salary cuts for employees, as the foodtech unicorn’s business is impacted by the closure of restaurants. Meanwhile, ride-hailing company Uber has withdrawn job offers to graduates from across India’s top B-schools. According to Layoff Survey 2020, 68 percent employers have either started the layoff process or are planning to.
With more than 85,000 coronavirus cases, India now has more confirmed cases than China — the epicentre of the pandemic. According to Worldometer, the total number of deaths have crossed 2,700. After Telangana, now Mizoram has also extended the lockdown till the end of May. Bihar has urged the Centre to extend the nationwide lockdown as well, keeping the rail and air travel suspended.
WHO has warned that Europe could face a second wave of winter infections. This comes as the number of worldwide deaths crossed 300,000. With two consecutive quarters of declining growth, Germany has declared that the country is in recession. The US retail sales plunged by 16.4 percent, falling at the fastest rate on record.
Here’s a roundup of YourStory’s coverage today of how India and the world are dealing with the coronavirus pandemic.
India’s biggest consumer internet company will be an education company, says Gaurav Munjal of Unacademy
On Money Matters with Shradha Sharma, Gaurav Munjal, CEO and Co-founder of Unacademy, discusses the growth of edtech in India during coronavirus, and why education will actually win the internet game.
Here is what Indians want to spend on after lockdown relaxations
After PM Modi’s address on Tuesday, it is widely expected that there will be several relaxations in the lockdown rules from next week.
Coronavirus impact: Zomato announces reduction of workforce by 13 pc and salary cuts
The salary cuts will be as high as 50 percent for those in the higher bracket and this situation is likely to prevail for the next six months.
Coronavirus impact: Govt allocates Rs 1 lakh crore to strengthen agriculture infrastructure
The Essential Commodities Act will be amended to remove restrictions on the sale of certain staple vegetables and pulses.
[Startup Bharat] This Vadodara-based startup has manufactured over 70,000 PPE kits
Ecommerce startup Sure Safety is among the first few companies engaged by the government of India to manufacture PPE kits to fight coronavirus.
Bengaluru startup Predible is using AI-based radiology solutions to prescreen COVID-19 patients
Predible’s AI-based cloud hosted software LungIQ can analyse the lung damage in patients through CT scans.
How eldercare startup EMOHA is empowering senior citizens to manage and cope with COVID-19 crisis
With features to assist the elderly in the delivery of daily essentials, online doctor consultations, etc., Gurugram-based EMOHA has designed a community-based response mechanism to help the elderly during COVID-19 crisis.
These 5 companies are giving hikes to employees during coronavirus crisis
In this unprecedented time when companies are choosing to either retrench or cut salaries, few delightful exceptions are offering hikes.
Paytm Payments Bank launches ‘Cash at Home’ facility for senior citizens in Delhi NCR
The cash withdrawal request can be raised through the bank’s app, and a minimum of Rs 1,000 and a maximum of Rs 5,000 will be delivered at their home.
Coronavirus: This Indian sprinter travelled 70 km to help villagers
Dutee Chand travelled from Bhubaneshwar to her village in Jajpur in Orissa with essentials and food supplies for the villagers.
Newly married couple from Odisha donates money saved for wedding to fight coronavirus
Jyoti Ranjan and Rojalin decided to forego a big wedding ceremony to help those in need.
What’s brewing? Survey shows a new coffee culture during the times of coronavirus
Are you missing your coffee breaks in your office with your colleagues? According to a survey done by the coffee brand Lavazza, most office-goers feel the same. Here’s the new coffee culture of our times.
Why a recession is the best time to open a savings account for your children
Putting away a fixed percentage of your income every month for the future of your children is easier now, given the fact that you are re-aligning your priorities amid the coronavirus pandemic.
COVID-19: Basics of drugs and vaccines in progress
There are 1,476 studies found for COVID-19 on clinicaltrials.gov and 1,114 studies listed on WHO for a potential cure. None with the required efficacy yet.
5 ways entrepreneurs can overcome the ongoing COVID-19 crisis
From bringing innovation in design and managing cash flow to getting relevant mentors on board, entrepreneurs can restrategise their startup in the aftermath of COVID-19 pandemic.
Contact-tracing app Aarogya Setu now available on JioPhone
Aarogya Setu app has been launched for one model of JioPhone for around five million users and will be launched for other models in the next few days.
How has the coronavirus outbreak disrupted your life? And how are you dealing with it? Write to us or send us a video with subject line ‘Coronavirus Disruption’ to firstname.lastname@example.org