Coronavirus lockdown has severely disrupted supply chains, says Niti Aaayog CEO Amitabh Kant
The need of the hour is to promote remote working and expand gig economy, speakers at a Niti Aaayog-organised Webinar said.
Lower inflation to open up policy space further: RBI
As for growth, the governor stuck to sharing the International Monetary Fund's (IMF) view on India's growth, offering no forecast from the central bank.
COVID-19 crisis: WMA limit hike for states to help reduce market borrowing cost
With the increased WMA limit, state governments are expected to plan their market borrowings in a better way rather than bunch up their borrowings, leading to oversupply issues.
COVID-19 crisis: RBI tells banks to hold back dividends for FY20
A banking analyst told FE: “As of now, the directive is about retaining profits, but if it is extended beyond September, there could be a stock impact.”
RBI extends recast benefit on commercial real estate loans to NBFCs
According to sector experts, NBFCs' outstanding credit to the commercial real estate stood at Rs 1.29 lakh crore as on September 30, 2019.
RBI grants NPA relief, but with 10% additional provisioning
Prior to RBI’s announcement on Friday, three-month moratorium was limited to accounts whose installments were falling due after March 1, 2020.
RBI to provide Rs 50,000-crore refinance facility to AIFIs
The measure has been taken by the RBI to meet sectoral credit needs at a time when the institutions are facing difficulty in tapping the market.
India’s forex reserves rose by $1.8 bn in week ended April 10
As per data from the Reserve Bank of India (RBI), the total reserves stood at $476.475 billion at the end of the week.
COVID-19 outbreak: UP mulls package for investors relocating from China
Meanwhile, the UP government had, on Thursday, issued an order allowing nine types of industries to run conditionally with essential services.
RBI provides limited provisioning relief for unresolved cases
According to the June 7, 2019, circular of the RBI, banks had to make additional 20% provisioning for the cases where resolution could not be reached over a period of 210 days, after signing the inter-creditor agreement.
RBI package fails to impress Kerala FM
For Kerala, this would mean the mandate to borrow up to Rs 18,000 crore to address its capital expenditure squeeze.
RBI nudges banks to lend by cutting reverse repo
Banks have been facing difficulty due to the shutdown following COVID-19 pandemic and a cut in LCR requirement is likely to manage their liquidity effectively.
Wheat procurement at MSP starts at a slow pace, arrivals low too
While the government has fixed the wheat MSP at Rs 1,925/quintal, traders are buying the grain at about Rs 1,700-1,800/quintal in mandis in Gujarat and Rajasthan.
Covid-19 impact: Real estate sentiment at historic low, says Knight Frank-Ficci-Naredco survey
Even while the government and Reserve Bank of India (RBI) have provided some stimulus, further support may be required to help real estate and for the economy to stay afloat during the crisis.
Govt sets record grains production target for crop year 2020-21
The agricultural output in the economy grew by 3.5% in the third quarter (Q3) of FY20, against 3.1% in Q2 of FY20.
Farmers ask govt to purchase onions from them at Rs 20 per kg to avoid financial distress
The Lasalgaon APMC officials said that another reason for imposing restrictions is the drop in demand of onions. According to officials, the demand has reduced to a great extent in domestic markets.
Coronavirus lockdown in Kerala: State eases curbs for cashew, coir, handloom, beedi
Kerala has the country's highest Covid-19 recovery rate with218 out of the 387 coronavirus positive cases recovering . The state has also decided to increase the number and extent of testing, chief minister Pinarayi Vijayan told mediapersons.
Sugar output falls 20% till April 15, mills to tap Indonesia in a big way
A majority of sugar companies decided to make hand sanitisers to supply to hospitals by using a part of the ethanol/ENA production, thereby ensuring that the country does not face any shortage of good quality hand sanitisers.
Valuation profession: Sahoo panel moots ICAI-type regulator
Currently, only an ad-hoc framework for valuation professionals is in place, which is basically governed by the Companies Act, and the government has designated the Insolvency and Bankruptcy Board of India (IBBI) as the authority to implement the new regime of registered valuers.
Electricity demand growth just 1.3% in FY20, a 6-year low
The three states are among the top five electricity users (other two being Uttar Pradesh and Rajasthan) and fall in power consumption in these places dragged down the country’s annual demand growth to a six-year low of 1.3%.
RBI reduces FPI investment limits in G-secs to Rs 2.34 lakh crore for FY21
At the same time, long term FPI investment limits in G-secs have been brought down to Rs 1.03 lakh crore from the prevailing limit of Rs 1.15 lakh crore a reduction of almost $1.5 billion.
Coronavirus lockdown 2.0 guidelines: Select economic activities to resume
Job guarantee programme (MGNREGA) works are allowed with strict implementation of social distancing and face mask.
Rs 4,250 crore released as pending direct tax refunds in a week
Further, the Board said that it was processing an additional 1.75 lakh refund claims, which would be credited directly to the taxpayer bank account in 5-7 business days from issuance.
Retail prices of pulses inch up; poor largely unaffected on PDS boost
Out of 230 lakh tonne annual consumption, only a third of it is met via domestic production. Edible oils prices have gone up as the country’s 600 refineries, 500 solvent plants and 10,000 crushing mills have reduced output by half compared to pre-Covid levels, industry experts said.
CPC survey paints bleak economic outlook for Maharashtra
CPC used a web-based survey to reach out to 1,252 respondents in 31 cities and towns of Maharashtra.
FICCI panel seeks relief based on Dutch-model wage subsidy
The letter has urged, mainly for wage subsidy to large employers, on the lines of the Netherlands and Australia .
Covid-19 crisis: Supreme Court seeks details of relief steps for migrant labour
In its status report submitted earlier, the Centre had said that all the steps were being taken for the welfare and benefit of migrant workers.
Double Jan Dhan transfer to poor women, help urban poor: Economist Pronab Sen
The transfer of around Rs 17,400 crore under the PM-Kisan is being front-loaded. However, most of these interventions will benefit the rural poor more than their urban counterparts, according to analysts.
MPC, RBI must coordinate action amid COVID-19 disruption: MPC minutes
While four of the MPC members voted in favour of the eventual 75-basis point (bps) cut, external members Chetan Ghate and Pami Dua argued for a 50-bps cut, the minutes, released on Monday, showed.
Horticulture pile-up: Farmers’ losses seen at Rs 15000 crore
The pile-up of harvested or un-harvested perishables may have caused farmers a loss of around Rs 15,000 crore. Market arrivals of fruits and vegetables have sharply fallen since the imposition of the lockdown.
Govt uses JAM-based digital pipeline to transfer over Rs 28k crore to 32 crore people
By front-loading PM-Kisan, the Centre has transferred Rs 13,855 crore as the first instalment of Rs 2,000 to each of the 6.93 crore farmers as on Friday, the finance ministry tweeted.
All India Kisan Sabha demands measures to mitigate suffering of farmers, workers
Standing crops like wheat, paddy, mustard, chana, chillies, pulses etc, are ready for harvest in many parts of India but the lockdown and restrictions have created a situation where harvesting, transport and marketing is curtailed.
Forecasting during denial: when management can't handle the truth
In recent posts (March 26, April 21) we've looked at forecasting in the face of chaos and disruption. We've seen that traditional time series forecasting methods (used during "normal" times) can be creatively augmented with additional methods like clustering, similarity analysis, epidemiologic models, and simulation. While it is unreasonable to [...]
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Forecasting during chaos: predicting impact on demand and supply
Forecasting is a daunting task during normal conditions, and even more so during a disruption. But in times of greatest stress our smartest and most creative people stand out, and our true leaders emerge. You'll find these kinds of leaders among my colleagues at SAS -- smart and creative people [...]
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Preview of Foresight (Spring 2020)
Following is editor-in-chief Len Tashman's preview of the Spring 2020 issue of Foresight: The International Journal of Applied Forecasting. Preview of Foresight (Spring 2020) This Spring 2020 issue of Foresight—number 57 since the journal began in 2005— leads off with Associate Editor Mike Gilliland’s discussion of The M4 Forecasting Competition: [...]
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Forecasting during chaos: notes from an IBF virtual town hall
Forecasting During Chaos The Institute of Business Forecasting has produced an 80-minute virtual town hall on "Forecasting & Planning During the Chaos of a Global Pandemic." The on-demand video recording is available now and well worth a look. There is much solid practical guidance from an experienced panel: Eric Wilson, [...]
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The difficult step in effecting forecasting process change (2 of 2)
Fildes and Goodwin (F&G) observed the subject (the regional subsidiary of a pharmaceutical company) was using a statistical forecasting system, but not fully trusting its output. Forecasters were making overrides to the system generated forecast to make it look like what they believed it should (e.g., following a life-cycle curve [...]
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The difficult step in effecting forecasting process change (1 of 2)
Two weeks ago we looked at the first two steps in effecting forecasting process change: Justify your suspicions with data Communicate your findings That was the easy part. So why is it that so many organization realize they have a forecasting problem, yet are unable to do anything about it? [...]
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2 first steps to effecting forecasting process change
What if you suspect something is wrong with your forecasting process? What if the process is consuming too much time and too many resources, while still delivering unsatisfactory results (lousy forecasts). What can you do about it? This post looks at the first two steps to effecting meaningful forecasting process [...]
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Get ready for M5 with launch of the Makridakis Open Forecasting Centre
With 2018's M4 Forecasting Competition behind us (although analysis, interpretation, and debate continue), the new M5 Competition starts March 2. Running through June 30, M5 is utilizing actual data provided by Walmart. It will be implemented using Kaggle's Platform, with $100,000 in prize money. Forecasting practitioners are encouraged to participate, [...]
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M4 Forecasting Competition: Results and Commentary
The International Journal of Forecasting has published its 2020-Q1 issue, guest edited by Spyros Makridakis and Fotios Petropoulos, and dedicated entirely to results and commentary on the M4 Forecasting Competition. This issue should be of great interest and value to business forecasting practitioners, and you get online access to it [...]
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Preview of Foresight (Winter 2020)
Following is editor-in-chief Len Tashman's preview of the Winter 2020 issue of Foresight: The International Journal of Applied Forecasting. Preview of Foresight (Winter 2020) This Winter 2020 issue of Foresight—number 56 since the journal began in 2005—formally introduces a new section: Integrated Business Planning (IBP), the meaning of which is evolving [...]
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Fighting fraud in the new world of Value-Based Payments
Ladies and gentlemen, I give you Value-Based Payments (VBP), health care’s new magic, “silver bullet” that will solve all our fraud problems. Last month, the US Department of Health and Human Services (HHS) issued a press release entitled, “HHS Proposes Stark Law and Anti-Kickback Statute Reforms to Support Value-Based and [...]
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Can we evaluate whole person suffering?
As we honor Mental Health Month, there are many calls to reduce suffering. Seems reasonable, right? It’s even in California’s Mental Health Services Act (MHSA), where public systems are called to “reduce subjective suffering.” And as we broadly focus more on outcomes in health, measuring suffering (and hopefully its reduction) [...]
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Washington Post, new SAS user group, highlight need to collaborate on opioid epidemic
I was recently honored to share the stage with government and medical leaders to discuss ways to impact the nation’s opioid epidemic. Hosted by The Washington Post, this event included often spirited conversations on ways to solve this national crisis. As the medical director for SAS US Government, I have [...]
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Data-driven is better: Lessons from handicapping the ponies
Data-driven is a buzzword again. It feels new and shiny but has been around for years. Yet, people still ask what it means to be data-driven. If you wonder why it’s important to be data-driven, you might ask your bookie. Yes, I said your bookie. In thinking about when I [...]
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Analytics can help combat the horrors of human trafficking
January serves as National Slavery and Human Trafficking Awareness Month, culminating in the annual observation of National Freedom Day on February 1. For many, this month presents an opportunity to refocus efforts to slow, and ultimately stop, human trafficking around the globe, but especially here in the United States. The [...]
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Can AI in healthcare help us identify high-risk people across systems?
Many of the buzzy applications of AI in healthcare we hear about involve medical IoT, computer vision for radiology or disease prediction. But the fact is, many health institutions that just aren’t there yet with adoption. With limited budgets and dated systems, can public health agencies tap into the power [...]
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With government data sharing, don’t be a data scrooge
Encouraging data sharing can sometimes feel like refereeing kids on Christmas morning. “Mom said you have to SHARE!” my sister bawled, grabbing at the Game Boy in my hand as I held the toy just out of her reach. I had just gotten it as a Christmas present and had [...]
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4 ways the data revolution is changing government
The data revolution is causing disruption everywhere. Even governments are feeling the effects. While the public sector may be less prepared for the impending changes, government has good reasons to embrace the data revolution. First, governments have been collecting data for years. They have lots of data. This supports programs, [...]
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