From PM Modi's meeting with the Finance Minister to rupee's fall to a new low—here’s all you might have missed in headlines today

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From PM Modi's meeting with the Finance Minister to rupee's fall to a new low—here’s all you might have missed in headlines today
  • Prime Minister Narendra Modi and FM Nirmala Sitharaman reviewed the impact of COVID-19 and discussed a possible second stimulus.
  • The rupee tanked 43 paise to settle at an all-time low of 76.87 against the US dollar on Thursday.
  • Asia is expected to witness zero% growth in 2020 due COVID-19 pandemic.
Following are the top business stories of April 16:

PM reviews impact of COVID-19 on economy; 2nd stimulus in consideration

Govt sets foodgrain production target at record 298.3 mn tonnes for 2020-21 crop year

The government has set the foodgrain production target at 298.3 million tonnes for the 2020-21 crop year, up 2% from the record output achieved in the current year, banking on forecast of a normal monsoon.
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Rupee plummets 43 paise to settle at all-time low of 76.87 against US dollar

The rupee tanked 43 paise to settle at an all-time low of 76.87 against the US dollar on Thursday, amid rising concerns over a coronavirus-led economic slowdown.

Curtailed trading hours for debt, currency markets till Apr 30: RBI
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The limited trading hours of debt as well as currency market will remain in force till April 30 amid extension of the countrywide lockdown, the RBI said on Thursday.

Sensex overcomes choppy start, ends 222 pts up; IT stocks skid

Markets found firmer ground after two sessions of declines on Thursday, even as IT stocks tumbled after lacklustre results from Wipro underscored the economic challenges of the Covid-19 pandemic.
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Date for renewal of health, motor insurance policies extended up to May 15: Finmin

The Finance Ministry on Thursday extended the renewal dates of health and motor insurance policies falling during the nationwide lockdown period till May 15 to ensure continuity.

Asia to see zero per cent growth in 2020: IMF

Asia is expected to witness zero% growth in 2020 due COVID-19 pandemic, its worst growth performance in almost 60 years, but still the world's largest and most populous continent is likely to fare better than other regions in terms of activity, the International Monetary Fund (IMF) has said.
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Survey finds over 82% public support for govt Covid fight

As the nation enters the second phase of the Covid-19 lockdowns, an opinion poll during the first phase has given very high credit to the central government for its actions to control the pandemic with over 82% supporting the government measures, but 86% remain worried over their future.

Export incentives under MEIS available till Dec 31: Commerce min

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The commerce ministry has clarified that export incentives under Merchandise Export Incentive Scheme (MEIS) will be available to exporters only up to December 31 this year.

IL&FS sells entire stake in IWPSL to ORIX Corp for ₹6.05 cr

Cash-strapped Infrastructure Leasing and Financial Services (IL&FS) on Thursday said it has sold its 100% stake in IL&FS Wind Power Services Ltd (IWPSL) to ORIX Corporation, Japan, for Rs 6.05 crore.


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