Mukesh Ambani to forgo entire salary for a year

April 30: Chairman and Managing Director Mukesh Ambani forgo his entire salary for the year 2020-21. The Reliance Industries today (April 30 2020),  announced that its entire senior leaders and board to take pay cut between the range 10 to 50% as a proactive measure to tackle economy pressures during coronavirus outbreak.

Reliance Industries Ltd (RIL) said, that employees whose salaries are less than Rs 15 Lakh per year will not see pay cut. Whereas, the employees whose salaries are over Rs 15 Lakh will see a fixed pay cut. 

Raghuram Rajan Says India needs 65,000 crore to treat poor

April 30: The former RBI Governor Raghuram Rajan, said that India can presume a supreme role in shaping the economy after the COVID-19 crisis. In an interaction with Congress MP, Rahul Gandhi through video conferencing, Rajan said, crisis during coronavirus pandemic rarely have any positive results for any country. However, this will enable us to reconsider all aspects in the global economy.
There will have to be a reconsideration of everything in the global economy once we are out of this, If there is an opportunity for India, it is in shaping that dialogue and in being the leader in that dialogue, the former RBI chief said.

He also stated that going for a second or third lockdown to examine the spread of the virus will be devastating for the country’s economy. It may also decrease our credibility. Though, we don’t have to aim for 100 percent success which is highly impossible, we must at least manage the re-opening of certain sectors he added

Veteran Bollywood actor Rishi Kapoor breathed his last today

April 30: Veteran Bollywood actor Rishi Kapoor breathed his last today, in a hospital in Mumbai at the age of 67 after battling for about two years with leukaemia. He was being treated for Cancer in New York last year. The Kapoor family has issued an official statement saying,

“Our dear Rishi Kapoor passed away peacefully at 8:45 am IST in hospital today after a two-year battle with leukaemia. The doctors and medical staff at the hospital said he kept them entertained to the last. He remained jovial and determined to live to the fullest right through two years of treatment across two continents. Family, friends, food and films remained his focus and everyone who met him during this time was amazed at how he did not let his illness get the better of him. He was grateful for the love of his fans that poured in from the world over. In his passing, they would all understand that he would like to be remembered with a smile and not with tears. In this hour of personal loss, we also recognize the world is going through a very difficult and troubled time. There are numerous restrictions around movement and gathering in public. We would like to request all his fans and well-wishers and friends of the family to please respect the laws that are in force. He would not have it any other way."

Moody's slashes India's Growth Rate

April 29: Moody's Investors Service on Tuesday slashed India's growth rate to 0.2%  for the year 2020. Earlier this year Moody projected the growth rate to be 5.2%. But, after Prime Minister Narendra Modi's announcement of nationwide lockdown on March 24, the agency cut down the growth rate from 5.2% to 2.5. 

India lost it's tag of fastest-growing economy country to China in the year 2019, as China's economy grew to 6.1% 

Estimated GDP Growth Rate By Various Agencies For India

India Ratings (for 2020-21)	(-) 2.1 to 1 per cent
CII (for 2020-21)	(-) 0.9 to 1 per cent
Nomura (for 2020)	(-) 0.5 per cent
Fitch ratings (for 2020-21)	0.8 per cent
Goldman Sachs (for 2020-21)	1.6 per cent
World Bank (for 2020-21)	1.5 to 2.8 per cent
IMF (for 2020-21)	1.9 per cent
Asian Development Bank (for 2020-21)	4 per cent
Source: Respective agencies

Renowned actor Irrfan Khan passes away at 54

April 29: Renowned actor Irrfan Khan died at the age of 54 on Tuesday evening at Mumbai’s Kokilaben Dhirubhai Ambani Hospital, where he was admitted and was under observation for colon infection. Earlier in 2018, the actor had announced that he’d been diagnosed with a neuroendocrine tumour.

The actor lost his mother, Saeeda Begum three days back, and he was reported to have attended her funeral via video call. In 2019, Irrfan had undergone treatment abroad for several months and was working on just one project at that time, director Homi Adajania’s film Angrezi Medium. 

The actor was not only renowned for his roles in Indian cinema, but was also involved in several international blockbusters such as Slumdog Millionaire, Jurassic World, The Amazing Spider-Man and Life of Pi.

Only Nine 9 states CMs allowed speak during the meeting with PM

April 27: Due to the time constraints, only nine Chief Ministers are expected to speak today, while, the other Chief Ministers would give their suggestions in writing at the meeting with Prime Minister, Narendra Modi.
The Chief Ministers of Meghalaya, Mizoram, Puducherry, Uttarakhand, Himachal Pradesh, Odisha, Bihar, Gujarat and Haryana would speak, while others would give their suggestions in writing due to time constraints. The Centre, following the meeting would study the recommendations and direct the opening of some more sectors for economy-revival in the Country.
The restrictions would need to be uplifted in those areas where COVID-19 cases have not been reported, the CMs would suggest the PM.
At the meeting which is to be held today, a ‘Graded’ exit from the 40 day lockdown would be discussed. Several officials said that the states want the restrictions to be extended in the hotspots, but relaxed in other areas where no cases of the coronavirus have been reported.
States would however follow continuing the ban on large gatherings. This would mean that the states would want the ban on religious places, malls, cinema halls, educational institutions, inter-state travel to continue for a longer time.

Govt allows shops to reopen: What is Open, What Not

April 25: Ministry Of Home Affairs has permitted opening neighborhood and standalone shop. With 50 per cent strength after taking necessary precautions in the light of cornoavirus pandemic. However MHA has not allowed opening of Market Places, Multi Brands And Single Brand Malls located across the country shall remain shut till May 3rd.

The order signed by Home Secretary, Ajay Bhalla would not be applicale to Hotspots and Containment zones. “All shops registered under the the Shops and Establishment Act of the respective State/UT, including shops in residential complexes and market complexes, except shops in multi-brand and single brand malls, outside the limits of municipal corporations and municipalities, with 50 per cent strength of workers with wearing of masks and social distancing being mandatory” the order by the MHA states.