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Retail inflation rate in India dropped to a four-month low of 5.91% YoY in March 2020 vs 6.58% in the previous month on the back of lower food prices.

Retail Inflation Rate in India March 2020 Eases to a Four-Month Low of 5.9% YoY

Prime Minister Narendra Modi today announced an extension to the 21-day nationwide lockdown till May 3rd in an attempt to flatten the curve and break the chain of spread of the coronavirus outbreak in the country as the number of active cases crossed 8998. Foreign Secretary Dominic Raab, who is deputising for Prime Minister Boris Johnson as he recovers from his own bout of COVID-19 will announce on Thursday that the lockdown will stay in place until at least May 7th. Meanwhile, It’s been reported that Finance Minister Rishi Sunak and Home Secretary Priti Patel are pushing for restrictions to be lifted sooner rather than later, given the respective pressures their departments face. Food inflation declined to 8.76% in March from 10.81% in February because of falling onion prices, showed data by the National Statistical Office (NSO). The SC has modified its April 8th order which asked private labs to conduct free COVID-19 tests and said the benefit will be available only to “economically weaker sections” who are covered under a government scheme such as the Ayushman Bharat. He argues that as social distancing becomes a common practice, buyers could “become apprehensive of sharing space with another passenger”, thus increasing demand for vehicles. This has in turn trickled down to individual workers, who are facing difficulties everywhere from what they can buy at a local store (considering it’s open and well-stocked) to sweating over whether the next pay check will be delayed. The Government of India In consultation with the RBI will launch new series of the Sovereign Gold Bond (SGB) Scheme, which will open for subscription from April 20. Gold prices rose to a more than seven-year high on Tuesday on rising fears of a steeper economic downturn and amid massive liquidity measures by global central banks. Subscribe to our Wrap Up Newsletter for informative and insightful daily news updates, smartly curated from the top sources, delivered straight to your inbox.

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