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Daily Current Summary: 30.04.2020

RIP Rishi Kapoor : A second tragic death hit the Bollywood fraternity in as many days with actor Rishi Kapoor passing away at a private hospital in Mumbai this morning.

Covid Times: The total number of cases in India stands at 34,789 with the death toll at 1,150, the overall recovery rate in the country now stands at 25.19%, and there is a progressive trend — 14 days ago was 13.06%. The doubling time for new cases has slowed down further to 11 days, 78% of the deaths were of people with co-morbidities.

Rahul and Raghuram: Former Reserve Bank of India Governor Raghuram Rajan, in a video chat with leader Rahul Gandhi said that India needed Rs.65,000 crore to help the poor during the pandemic. He also said further lockdowns would be devastating to the economy. 

We will need Rs 65,000 crore, is not that much if one looks at the GDP as a whole, If it is to save the lives of the poor, it must be done. The government needs to be calculated in lifting the countrywide lockdown. We need to open up in a measured way as India does not have the capacity to feed people for long. We have to manage the reopening in such a way that when there are cases, we can isolate them.

Raghuram Rajan
  • Reliance, India’s largest company Reliance Industries has decided to cut the salary of most of its employees by 10 to 50 per cent, with the firm’s chairman and richest Indian Mukesh Ambani electing to forgo his entire remuneration. The conglomerate has deferred annual cash bonuses and performance-linked incentives that are normally paid in the first quarter, according to an employee communique.
  • The Gulf monarchy of Oman has asked all state-owned companies to fire expat workers and replace them with local Omanis. The order shows that the “Omanisation” campaign, which was launched during the rule of Sultan Qaboos who passed away on January 10, has intensified. Oman has been implementing new austerity measures in the public sector during the last few months. These moves were expected as Oman is among the worst affected by the ongoing global dip in oil prices.
  • The International Labour Organisation on Wednesday said that nearly half of the global workforce – around 160 crore people – stands to lose their livelihood due to the pandemic. Many countries have shut down factories, schools, restaurants, public services and other avenues for employment, due to which economies have taken a severe hit.
  • The Supreme Court on Thursday asked an NGO to approach the Indian Council of Medical Research (ICMR) with its reservations about seriously ill patients being subjected to

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