“Forward ever, backward never: onwards with Breaking Through”

Lockdown, Day 55: 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...

    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

Tally Toll Tally Toll
47,10,614 3,15,023 96,169

    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

    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

    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

    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...

      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
    Tally Toll Tally Toll
    46,35,830 3,11,821 90,927 2,872

      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

      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