Today's top business news: States scramble for funds to handle Covid-19 crisis, pandemic a ‘severe demand shock’ for Indian economy, global interest rates drop to lowest in history, and more

AFP reports: "Inflation in China grew at its slowest pace since last October, official data showed Friday, falling from eight-year highs due to a drop in food prices as the country gradually lifts virus lockdowns. Weak oil prices and suppressed demand due to drastic coronavirus measures meant that consumer inflation last month grew at the slowest pace since October, according to NBS data." PTI reports: "Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das will on April 15 participate in the meeting of the G-20 countries to discuss the way forward in supporting the economy after the COVID-19 pandemic. According to Dun & Bradstreet, besides the impact on human lives and global supply chain, the pandemic is a severe demand shock which has offset the green shoots of recovery of the Indian economy that were visible towards the end of 2019 and early 2020. Once the coronavirus lockdown is over in India and commercial passenger flights are permitted again, IndiGo will deep clean its aircraft more frequently, stop in-flight meal service for a brief period and will fill the maximum 50% seats in airport buses, airline’s CEO Ronojoy Dutta said on Friday. PTI reports: "Asian Development Bank (ADB) President Masatsugu Asakawa on Friday assured Finance Minister Nirmala Sitharaman of USD 2.2 billion (about Rs 16,500 crore) support to India in its fight against the COVID-19 pandemic. Reuters reports: "Prices on U.S. high-yield bond exchange-traded funds and individual junk-rated issues like Ford Motor Co and Macy's Inc soared on Thursday after the Federal Reserve announced it would expand its corporate bond-buying program to include some speculative-grade debt. The Fed's $2.3 trillion package includes a primary market facility that specifies that companies recently downgraded from investment grade to the first tier of junk - so-called fallen angels - will be eligible for the program. Reuters reports: "OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis. PTI reports: "Niti Aayog Vice Chairman Rajiv Kumar on Thursday said India’s informal sector is too large and more needs to be done for workers employed in the segment, including giving them social security cover.