Lockdown, Day 55: Trance after tranche

Trance after tranche

Dalal Street wasn't particularly impressed with Nirmala Sitharaman's economic package in five tranches. The Sensex plunged 1,069 points, taking with it Rs 3.6 lakh crore in investor wealth. Analysts punched holes in the stimulus, calling it illusory and bad for the bourses.

Add to that, Goldman Sachs, in a report, warned of an ugly recession with the GDP contracting by 45% in the second quarter. India, let's brace ourselves.

Here are the other update from the day...

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COUNT SO FAR

Toll in Delhi mounts to 160, cases cross 10,000-mark

99 new cases in Karnataka, total mounts to 1,246

With 47 new patients, total 4,511 cases in UP

Rajasthan case count rises to 5,375

Andhra Pradesh tally mounts to 2,282

Bihar case count rises to 1,326

Indore cases rise to 2,565

World		India
Tally	Toll	Tally	Toll
47,10,614	3,15,023	96,169	3,029

LIFE UNDER LOCKDOWN

CBSE announces dates for pending class 10th, 12th board exams

Restrictions under Sec 144 extended in Chhattisgarh for 3 months

169 Indian passengers to return to Kolkata from Bangladesh

Maharashtra opposes plea for adopting Kerala model

West Bengal extends lockdown till May 31

Delhi University to be closed till May 31

BUSINESS AND ECONOMY

Swiggy lays off 1,100 employees

Rupee settles 33 paise lower at 75.91 against dollar

SIAM says auto sector left out in eco package

Loan freeze may be extended for 3 more months: Report

NITI boss suggests dropping budget gap aim this year

Maruti Suzuki delivers 5,000 cars in past few days

Spectrum auction may be held before Oct without 5G

Gold loans catch the fancy of financial market

Fiscal deficit of Centre and states likely to be at 12% of GDP

GLOBAL ECONOMY

Japan's economy slips into recession, with 0.9% GDP drop

Thailand's economy contracts for first time since 2014

Panasonic reports 29% drop in annual operating profit

SoftBank posts record $13 bln operating loss

AROUND THE WORLD

Russia says cases under 9,000 for first time since May 1

Saint Peter's Basilica in the Vatican reopens

Mexico reports 49,219 cases and 5,177 deaths

Germany reports 174,697 confirmed cases

US records 820 new deaths in 24 hours

Singapore reports 305 new cases

China reports 25 new cases.

Lockdown, Day 54: Another Sunday extension  The government extended the lockdown for another two weeks, till May 31, as India's case-count surged past 90,000. Finance Minister Nirmala Sitharaman made life easier for businesses struggling to deal with the side-effects of Covid. As part of the fifth tranche, the government suspended the bankruptcy code for a year. Track the latest updates from the day... COUNT SO FAR Maharashtra tally crosses 30,000-mark 66 more Maharashtra Police personnel test positve Tamil Nadu adds 477 new cases; state tally now 10,585 70 new cases take Rajasthan tally to 5030; toll now 128 One more case in Goa; state tally rises to 16 Odisha now has 828 cases; death toll now 5 Assam count reaches 95 5 more CISF personnel test positive in last 24 hours Andhra reports 25 new cases; total now 2,230 Indore cases rise to 2,470; death toll reaches 100 Delhi death toll reaches 148 World India Tally Toll Tally Toll 46,35,830 3,11,821 90,927 2,872 BOOSTER FINE PRINT Covid-related debt to be excluded from default under IBC No fresh insolvency for next one year Minimum threshold to initiate insolvency raised to Rs 1 crore Most violations under Companies Act to be decriminalised Companies can now list securities directly in foreign jurisdictions All sectors opened to the private sector Borrowing limit of states increased from 3% to 5% Additional funding of Rs 40,000 crore for MGNREGS All districts to have infectious disease hospitals, public health labs AROUND THE WORLD US adds 1,237 deaths in 24 hours China reports 5 new cases, down from 8 a day earlier Brazil's death toll tops 15,000 Italy records 153 new deaths Spain's daily toll below 100 - a first in 2 months