Daily briefing: Centre mulls calamity cess on GST; Chinese troops test new areas in Ladakh

Written by Leela Prasad
, Liu Chuen Chen
| New Delhi |

Updated: May 23, 2020 9:53:21 am

A look at the top news today, May 23, 2020.

In a no lockdown scenario, according to various modelling projections, the country would have seen its Covid-19 case count balloon to a figure anywhere between 14-29 lakh and the number of deaths as high as 71,000. Dr V K Paul, Member (Health), NITI Aayog, said gains of lockdown 1 and 2 (March 25-April 14 and April 15-May 3) are visible now.

A calamity cess on Goods and Services Tax (GST) is likely on the cards to tide over the economic crisis, The Indian Express has learnt. However, at least two states, one of them ruled by the BJP, think it’s a bad idea as the industry is already facing a “huge crisis.

Post September, banks are expecting non-performing assets to shoot up after the RBI on Friday extended its moratorium on loans for another three months. And coupled with the GDP growth slipping into negative territory this year due to the sluggish business activity, it will impact banks more than initially anticipated.

The focus of the Chinese troops transgressing into Indian territory appears to be four locations along the Line of Actual Control (LAC),…

Continue Reading This Article At The Indian Express


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