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<ul><li>Financce Minister Nirmala Sitharaman will unveil the details of the stimulus package over the next few days.</li><li>The lockdown has been underway since March 25 and is, as of now, scheduled to end on May 17.</li><li>This was Prime Minister Narendra Modi's fourth address since the lockdown began.</li></ul>Indian Prime Minister Narendra Modi announced a ₹20 lakh crore stimulus package to boost the economy as the 55-day COVID-19 lockdown nears an end. This will benefit every from small industries to workers to the middle class to the big corporates. This will include easy and transparent taxation, strengthening the financial system, to creating better human resource. These reforms will excite businesses and take forward our commitment towards 'Make in India'. "Land, labour, liquidity and laws - all factors have been given importance, Modi said in his speech. These are the other top takeaways from Modi's speech: <ol><li>Our lives cannot get limited by the coronavirus crisis. Lockdown 4.0 will have new characteristics, new rules. Based on the suggestions from the state government, the guidelines for the next lockdown will be shared with you before May 18.</li><li>“Every Indian should become ‘vocal’ for ‘local’ products. We should use local products and promote them as well. Local manufacturing is what has saved us. Today, the global brands that you see, were local at one time. These brands went from ‘local’ to ‘global’ when people used their products.” </li><li>Today we have the resources and the ability, the best talent. We will make best products, improve the quality of manufacturing, modernise the supply chains. “Before the coronavirus pandemic, India didn’t manufacture person protective equipment (PPE) and a negligible number of N95 masks. Now, India manufactures 200,000 units of both PPE and N95 masks each. This is how we converted a crisis into an opportunity,” Modi said.</li><li>We have been hearing for years that the 21st century will India's century. This is not just our dream, it is our responsibility too. The current situation of the world teaches us only one thing - a self reliant India. Now, India manufactures 200,000 units of both PPE and N95 masks each day. This is how converted a crisis into an opportunity.</li><li>A self reliant India will stand on five pillars: eonomy, infrastructure, a tech-driven system that looks towards the future, a vibrant demography, and demand. The COVID-19 crisis has taught us that focussing on the 'local' should be our mantra. From today, every India should be more 'vocal' for the 'local'.</li></ol>SEE ALSO: <a href="https://www.businessinsider.in/india/news/pm-narendra-modi-announces-a-20-lakh-crore-financial-stimulus-for-a-self-reliant-india/articleshow/75700217.cms">Narendra Modi announces a ₹20 lakh crore financial stimulus for a self-reliant India</a> <a href="https://www.businessinsider.in/india/news/modis-self-reliance-and-local-thrust-looks-like-a-jab-at-china-sounds-like-rss-swadeshi/articleshow/75701230.cms" data-type="tilCustomLink" target="_blank">Modi's 'self-reliance' and 'local thrust' looks like a jab at China, sounds like RSS' 'swadeshi' ⁠— and it will be music to Baba Ramdev's ears</a> <a href="https://www.businessinsider.in/india/news/pm-modi-promises-to-please-everyone-with-his-stimulus-package/articleshow/75701113.cms" data-type="tilCustomLink" target="_blank">PM Modi promises to ‘please everyone’ with his stimulus package</a>

Lockdown 4.0 will have new characteristics and rules and they will be released before May 18, says Prime Minister Modi

<ul><li>Every billionaire from Mukesh Ambani to Sunil Mittal to Ratan Tata to Azim Premji has donated to the Prime Minister's fund, some CEOs have taken pay cuts but that's not enough.</li><li>The unemployment rate in India has gone from about 8% to 23% in March and there are looming fears of more job losses and salary cuts when the middle class and poorer sections of the people need money to survive and, may be, for treatments. </li><li>The Narendra Modi government can replicate the US model of offering 'payroll protection' via incentive for those firms who do not fire people during the lockdown meant to curb the spread of the Covid-19 coronavirus.</li></ul>Every billionaire worth his salt from Mukesh Ambani to Sunil Mittal to Ratan Tata to Azim Premji has donated to the fund set up by Prime Minister Narendra Modi to fight coronavirus. Founders of many unicorn startups from Ola’s Bhavesh Aggarwal to Paytm’s Vijay Shekhar Sharma and many more have taken steps to contribute in their own way. Many top bosses have also <a href="https://www.businessinsider.in/business/startups/news/ritesh-agarwal-to-take-a-100-pay-cut-oyo-sets-up-a-welfare-fund-for-coronavirus-hit-hotel-partners/articleshow/74950054.cms">taken pay cuts</a> but that’s not enough given how unprecedented the coronavirus crisis is. Just like the <a href="https://www.businessinsider.in/india/news/how-the-governments-new-lockdown-rules-will-affect-your-day-if-you-live-in-a-city/articleshow/75155813.cms" data-type="tilCustomLink" target="_blank">new lockdown guidelines</a> for the commoners, may be it is time for Modi government to outline the steps the companies and business owners ⁠— the chest-thumping patriots on other days ⁠— must abide by. There seems to be a looming fear of layoffs, job losses, and salary cuts consuming public sentiment every day. If there is anything the <a href="https://www.businessinsider.in/india/news/migrant-workers-protest-at-bandra-railway-station-in-mumbai-demanding-to-go-home/articleshow/75143150.cms" data-type="tilCustomLink" target="_blank">Bandra incident has taught us</a>, it will take less than a spark to cause another round of coronavirus contagion aside from the fact that civil unrest is the last thing India needs. <div type="Article" hostid="261" msid="75156256" title="Lockdown 2.0: Money and jobs gone, stranded migrants desperate to return home" mstype="2" mssubtype="0"></div> The level of unemployment in India went up from nearly 8% to 23% in March 2020, according to the <a data-type="tilCustomLink" target="_blank">Centre for Monitoring Indian Economy</a>. <div type="image" title="CMIE" msid="75156251" hostid="261" caption="&amp;lt;p&amp;gt;The level of unemployment in India went up from nearly 8% to 23% in March 2020, according to the Centre for Monitoring Indian Economy. &amp;lt;/p&amp;gt;"></div> We can’t save every job but we can save enough to stop the country and the society from imploding. And the Narendra Modi government can offer a helping hand like the Donald Trump administration in the US did with the <a href="https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp">Paycheck Protection Program</a>. It is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. <div type="Article" hostid="261" msid="75130701" title="India’s looming jobs crisis is starting to unravel within the first 21 days of coronavirus lockdown" mstype="2" mssubtype="0"></div> The US government agency for small businesses will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. India, as a developing country, may not afford to forego loans and therefore, the programme can be tailored to the Indian context. What are the specific steps that can be taken in India? <ol><li>The government should incentivise companies with the promise of cheap bank loans post lockdown, or tax-related incentives, as long as they have the same number of employees on their rolls as on July 1 compared to say March 31. For those who have already fired employees or staff, can be incentivised with zero-interest loans if they are able to rehire quickly and maintain salary levels.</li><li>The companies, individually or via industry lobbies, can create a separate fund, or a pool of funds that can be used to keep channel partners, distributors, dealers, and other nodes in the value chain afloat, and ensure that their staff and the salespeople are paid. The companies can either decide to forego the loan to the channel partners or get zero interest on it. </li><li>The government can either contribute a portion of the money (ike it has for the employee provident fund) to such funds right now, or ask banks to lend to these companies at zero/subsidised rates only for the purpose of keeping jobs intact.</li><li>Publicise these measures well enough that people are able to hold their employers (past or present) accountable. </li></ol>The big picture! The channel partners ⁠— from FMCG to automobiles to technology and other similar sectors ⁠— and the layers below them need to be supported so that once the lockdown lifts the chain can be revived at the earliest. The top four sectors together employ nearly 250 million in India. <div type="image" title="jobs" msid="75156326" hostid="261" caption="&amp;lt;p&amp;gt;India needs a jobs protection programme just like the one in the US announced by President Donald Trump.&amp;lt;/p&amp;gt;"></div> There are at least two intangible benefits that will arise out of this. The image of the company/promoter will get a huge fillip. Everyone in India knows how the <a href="https://www.livemint.com/Opinion/pkxDzBTGCNGCUdt7XdpRMN/What-now-Mr-Tata.html" data-type="tilCustomLink" target="_blank">Tata Group’s 'clean' image</a> has survived generations despite many allegations and controversies. This will also help the employees appreciate the generosity of the employer and reduce attrition to a great extent. The level of mutual trust and respect between the company and employee may boost commitment and efficiency over the long term. Even during the ongoing coronavirus crisis, there have been some exceptions. Reliance Industries, for example, has declared that <a href="https://www.businessinsider.in/business/news/reliance-employees-who-earn-less-than-30000-will-be-paid-twice-a-month-in-the-wake-of-coronavirus/articleshow/74775193.cms">salaries will be paid </a>twice a month for those earning less than ₹30,000 a month. Capgemini India, Cognizant and others <a href="https://www.businessinsider.in/careers/news/capgemini-india-cognizant-and-others-who-are-giving-salary-hikes-in-times-of-coronavirus/articleshow/75151960.cms" data-type="tilCustomLink" target="_blank">are giving salary hikes</a> despite business coming to a standstill due to the pandemic. <div type="Article" hostid="261" msid="75117512" title="These are the job listings in top e-commerce companies posted after April 1" mstype="2" mssubtype="0"></div> What is missing in the current support system and the stimulus? There have been many thousand jobs cut especially for those working on contract. Anecdotal evidence suggests that people employed with dealers, distributors, channel partners' sales staff of even big companies like Hindustan Unilever (HUL), Raymond, nearly all car makers, and in many more sectors, have already been ‘let go’. "Hindustan Unilever Limited (HUL) is taking all necessary measures to protect the interests of its employees, support staff, distributors and partners during these difficult times. We are committed to working on their safety, employment, salary protection, and are taking several steps on these matters. For e.g., we recently offered COVID-19 medical insurance cover to all frontline sales force and distributor employees (loaders and delivery staff) where premium for the cover is paid by HUL," the company said in a statement in response to this report. <div type="Article" hostid="261" msid="74959653" title="OYO reportedly invokes ‘Act of God’ clause to suspend payments to hotel owners says report" mstype="2" mssubtype="0"></div> The government's $22 billion stimulus is trying <a href="https://www.businessinsider.in/india/news/fm-nirmala-sitharaman-26th-march-speech-highlights-and-updates/articleshow/74825011.cms" data-type="tilCustomLink" target="_blank">to support the poorest of the poor</a> with direct cash transfers, subsidised grain and cooking gas etc. the rich have the wherewithal to sustain a longer lockdown, but the same safety net is not available to those who are considered middle class in India, especially those who work in the unorganised sector. Even those earning, say, ₹50,000 a month may not have savings to sustain a family during a lockdown without a job and cash flow. However, Prime Minister <a href="https://www.businessinsider.in/india/news/what-are-the-7-rules-during-lockdown-as-per-pm-narendra-modi/articleshow/75134637.cms" data-type="tilCustomLink" target="_blank">Modi expects him or her to continue paying</a> their domestic help, the guy who washes their cars or motorcycles etc. What is the private sector doing? Cribbing! One executive after another is arguing about how the government has not done enough to make this lockdown easier than what it is. Calculating! Companies across the board are making lists of people who can be fired. It is not like FMCG sales have come to zero but people lower in the value chain have . It is justified to a certain extent. <a href="https://economictimes.indiatimes.com/news/economy/finance/view-one-contagion-is-more-than-enough-for-india/articleshow/75153054.cms" data-type="tilCustomLink" target="_blank">For example</a>, borrowers have been exempt from repaying loans for three months but the non-banking finance company who they borrowed from is not. As is the case with most bureaucratic decisions, this could be an oversight and this can, and should be corrected, soon. Clamouring! Aside from this, there is a clamour for everything from corporate tax cut to GST relief. Many of them have donated money to the PM-CARES fund but it is unlikely to trickle down to the exact value chains that companies have a stake in. <div type="Article" hostid="261" msid="75143211" title="Hero MotoCorp supports lockdown extension, seeks stimulus package for India Inc" mstype="2" mssubtype="0"></div> What should the companies do? Be realistic! The government or the companies or the billionaires, or any institution for that matter, cannot protect or save everyone but efforts have to be made to go as deep as we can reach with the support. Be generous! When a bank seems to be going down, one of the first steps that the Reserve Bank of India (RBI) takes is to ask the promoter to bring in more capital. Other businesses can look at the current crisis the same way. Billionaire promoters may lead the way and bring some additional capital to the table, let it trickle down the value chains that will help them thrive during better times. It may be time for Prime Minister Modi to call for the support of his fans in India Inc to ensure that his poorer fans don’t get disillusioned or angry. SEE ALSO: <a href="https://www.businessinsider.in/india/news/no-lifts-no-group-lunches-and-other-guidelines-that-offices-factories-should-follow/articleshow/75154853.cms" data-type="tilCustomLink" target="_blank">No lifts, no group lunches and other guidelines that offices, factories should follow</a> <a href="https://www.businessinsider.in/india/news/cabinet-to-approve-pension-contributions-advances-announced-by-the-fm/articleshow/75153467.cmshttps://www.businessinsider.in/india/news/cabinet-to-approve-pension-contributions-advances-announced-by-the-fm/articleshow/75153467.cms" data-type="tilCustomLink" target="_blank">Cabinet to approve pension contributions advances announced by the FM</a> <a href="https://www.businessinsider.in/india/news/all-agricultural-and-horticultural-activities-will-resume-from-april-20-and-create-jobs-for-daily-wagers/articleshow/75154111.cms" data-type="tilCustomLink" target="_blank">New guidelines for all agriculture and related activities that can restart from April 20</a> <a href="https://www.businessinsider.in/policy/economy/news/what-narendra-modi-can-learn-from-donald-trump-2-trillion-stimulus-in-us/articleshow/74805256.cms" data-type="tilCustomLink" target="_blank">Inside the $2 trillion US economic stimulus⁠— and what locked-down India can learn from it</a>

India needs a ‘jobs protection programme’ like US and the billionaires must lead while the government helps

<ul><li>Reports of job cuts and salary cuts in Indian media have started to flow in while many other sectors have reduced hiring by as much as half.</li><li>There will be more unemployed youth on the streets in the days to come as new jobs dry up and existing ones vanish. </li><li>India needs an estimated 10 million jobs a year to employ the new youth joining the workforce annually.</li><li>The rising anxiety over livelihoods will make it difficult for Prime Minister Narendra Modi to enforce lockdown and ensure people adhere to the extension of lockdown required to contain the spread of novel coronavirus in India. </li></ul>WhatsApp groups and other social media in India are flush with messages of job losses even before the first 21 days of lockdown to contain the spread of Covid-19 coronavirus came to an end. The lockdown has been extended in many states and the Prime Minister, Narendra Modi, is expected to seek public support for an extended lockdown to ensure the epidemic doesn’t claim more lives. The excitement and cooperation seen for ‘janta curfew’ (the one-day voluntary lockdown on March 22) and on April 5 (when Modi asked people to light candles and lamps for 9 minutes at 9 PM) will be tested as people across the country get increasingly anxious about who’s next on the firing line. Watch: Psychologists explain Modi’s messaging strategy during coronavirus lockdown <div type="Youtube" id="2uSUiWwxSGY" title="Coronavirus: Indian Prime Minister Is Using A 1969 Woodstock Tradition Used By Rockstars" thumbUrl="https://i.ytimg.com/vi/2uSUiWwxSGY/mqdefault.jpg"></div> An unemployment crisis was expected but not so soon The damning impact of bringing the economy being brought to a grinding halt is no surprise but most people hoped that companies will have the wherewithal, and the empathy, to help people survive in an unprecedented situation like this. However, a majority of India's employers are unorganised and small and do not have the ability to sustain costs with little or no revenue. Unemployment in India was already high at about 7.5% to 8% even before the lockdown came into effect⁠— it has been rising steadily since mid-2017. The latest estimate for unemployment in India is a shockingly high 23%, <a href="https://www.cmie.com/kommon/bin/sr.php?kall=warticle&amp;dt=2020-04-07%2008:26:04&amp;msec=770" data-type="tilCustomLink" target="_blank">according to the Centre for Monitoring Indian Economy</a>. <table style="width: 332pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:250pt">Sector</td> <td class="xl66" style="border-left-width: initial; border-left-style: none; width: 82pt;">Hiring in March 2020</td> </tr> <tr> <td class="xl70" style="height: 16.5pt; border-top-width: initial; border-top-style: none;">Hotels, restaurants, travel, airlines etc. </td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-56%</td> </tr> <tr> <td class="xl70" style="height: 16.5pt; border-top-width: initial; border-top-style: none;">Retail</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-50%</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Automobiles and ancillaries</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-38%</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Pharmaceuticals</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-26%</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Insurance</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-11%</td> </tr> <tr> <td class="xl67" style="height: 15pt; border-top-width: initial; border-top-style: none;">Software</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9%</td> </tr> <tr> <td class="xl69" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Banking and financial services</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9%</td> </tr></tbody></table>Source: naukri.com The <a href="https://indianjournalismreview.com/2020/04/13/you-need-to-stay-healthy-we-need-to-fight-another-day-as-it-sends-half-its-staff-on-leave-without-pay-raghav-bahls-quint-waives-non-compete/https://indianjournalismreview.com/2020/04/13/you-need-to-stay-healthy-we-need-to-fight-another-day-as-it-sends-half-its-staff-on-leave-without-pay-raghav-bahls-quint-waives-non-compete/" data-type="tilCustomLink" target="_blank">media sector is taking the early hit</a> as companies cut back on advertisements, choking cash flow for many smaller firms in the space. Not just news organisations, Business Insider has learnt that the CEO of Prime Focus ⁠— an Indian firm that contributed visual effects for the Hollywood blockbuster Avatar ⁠— has told the employees there will be reduction in headcount. Even for market leaders like Zee Entertainment and Sun TV, the ad revenues between Jan-March 2020 are down 28% and 20% respectively, a report from Emkay Global estimated. Many more sectors are likely to succumb to the pressure, and according to one estimate, <a href="https://www.businessinsider.in/careers/news/over-136-million-jobs-are-at-risk-due-to-corona-lockdown-here-are-the-worst-hit-sectors/articleshow/74941658.cms" data-type="tilCustomLink" target="_blank">nearly 136 million jobs are on the line</a>. Hiring by technology majors like Tata Consultancy services (TCS), Infosys, HCL Technologies, and their peers fell 9% in March, for the first time in two years, according to CLSA. WATCH: Here's How Coronavirus Has Made Infosys Cautious On Everything From New Hiring To Deals <div type="Youtube" id="pkgKNyWmm38" title="Here's How Coronavirus Has Made Infosys Cautious On Everything From New Hiring To Deals" thumbUrl="https://i.ytimg.com/vi/pkgKNyWmm38/mqdefault.jpg"></div> There will be more unemployed youth on the streets in the days to come as new jobs dry up and existing ones vanish. “We believe staffing requirement would come down drastically, leading to deferment/complete halt on any fresh hiring activity and reduction in pre-crisis contracted staff levels,” a JM Financial report said while cutting down estimates for the human resources firm Teamlease by 34% for the financial year ending March 2021. <div type="image" title="teamlease" msid="75130893" hostid="261" caption="&amp;lt;p&amp;gt;Teamlease share price&amp;lt;/p&amp;gt;"></div> A recent survey by the job search platform Indeed also said that half of the Indian businesses already trimmed the contractual workforce and freelancers to cut operational costs. On the other hand, India has to generate at least new 10 million jobs a year to engage the youth entering the workforce every year. <div type="image" title="jobs" msid="75130711" hostid="261" caption="&amp;lt;p&amp;gt;There will be more unemployed youth on the streets in the days to come as new jobs dry up and existing ones vanish.&amp;lt;/p&amp;gt;"></div> From airlines to movie production houses, from daily-wage labourers in factories to contract staff at shopping malls and quick service restaurants, the livelihoods for the bottom half of the Indian pyramid are at risk. Some of the big companies in these spaces have high employee costs and a sharp fall in revenue estimates for the year. <table style="width: 436pt;"> </colgroup> <tbody><tr> <td class="xl67" style="height:15.0pt;width:194pt">Company </td> <td class="xl73" style="border-left-width: initial; border-left-style: none; width: 79pt;">Employee cost </td> <td class="xl68" style="border-left-width: initial; border-left-style: none; width: 163pt;">Change in FY21 revenue estimate</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none;">Aditya Birla Fashion &amp; Retail</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">11.20%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-16.40%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none;">Future Lifestyle</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">5.80%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-18.50%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none;">Shoppers Stop</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9.20%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-23.40%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none;">Dmart</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.80%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-7.40%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none;">Inox Leisure</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">6.80%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-17.90%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none;">Jubilant Foodworks</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">19%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-18.30%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none;">Lemon Tree</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">21.90%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-10.80%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none;">PVR</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">10.90%</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-22.10%</td> </tr> <tr> <td class="xl71" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Titan</td> <td class="xl74" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">4.60%</td> <td class="xl72" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-23.80%</td> </tr></tbody></table>Source: Various brokerage estimates From Ratan Tata to Mukesh Ambani to Sunil Mittal to Azim Premji, many Indian billionaires have made significant contributions to the PM-CARES, a fund dedicated to combat the novel coronavirus pandemic. The Indian Prime Minister needs the support of smaller businessmen, in the form of keeping livelihoods intact and providing income visibility to their employees as well as contract staff, to ensure that a population of a billion-plus people continues to cooperate with the fight against the epidemic. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/there-is-a-government-directive-against-salary-cuts-in-private-companies-but-can-they-be-stopped/articleshow/75068611.cmshttps://www.businessinsider.in/careers/news/there-is-a-government-directive-against-salary-cuts-in-private-companies-but-can-they-be-stopped/articleshow/75068611.cms" data-type="tilCustomLink" target="_blank">There is a government directive against salary cuts in private companies — but can they be stopped?</a> <a href="https://www.businessinsider.in/careers/news/these-are-the-job-listings-in-top-e-commerce-companies-posted-after-april-1/articleshow/75117512.cms" data-type="tilCustomLink" target="_blank">These are the job listings in top e-commerce companies posted after April 1</a> <a href="https://www.businessinsider.in/careers/news/here-are-the-sectors-that-can-gain-in-the-times-of-coronavirus/articleshow/75019841.cms" data-type="tilCustomLink" target="_blank">These three sectors can grow and even hire people despite Covid-19 crisis</a>

India’s looming jobs crisis is starting to unravel within the first 21 days of coronavirus lockdown

<ul><li>Donald Trump's White House has reached a deal with the US Senate, say reports citing sources.</li><li>The Trump administration's $2 trillion stimulus plan includes $1,200 checks and a host of other measures to help middle class and poor Americans survive the economic clampdown in a bid to contain the spread of coronavirus. </li><li>Indian Prime Minister Narendra Modi has declared a complete nationwide lockdown for 21 days starting March 25 but there is still no call on the relief measures needed for millions of India's poor to survive.</li><li><a href="https://www.businessinsider.in/searchresult.cms?query=coronavirus&amp;sortorder=effectivedate" data-type="tilCustomLink" target="_blank">Track the latest news and updates on the coronavirus pandemic on Business Insider India</a>.</li></ul>Donald Trump's White House has reached a deal with the US Senate paving the way for a $2 trillion economic stimulus for the world's largest economy, say reports citing sources. The US government wants to flush cash down to the last American whose livelihood has been stalled by the clampdown on social and economic activity in a bid to contain the deadly coronavirus that has claimed over 16,000 lives around the world. What makes this deal special is the fact that the sharply polarised leadership of both the Democratic Party and the Republicans were to set to aside their differences— although after five days of intense negotiations— in the interest of the American people who live from one payday to the next. 
	
 <div type="image" title="Mitch McConnell" msid="74806037" hostid="261" caption="&amp;lt;p&amp;gt;Senate Majority Leader Mitch McConnell of Ky. walks to the Senate chamber on Capitol Hill in Washington, Tuesday, March 24, 2020. He is expected to discuss the breakthrough on the Senate floor with Minority Leader Charles E. Schumer (D-N.Y.)Photo/Patrick Semansky)&amp;lt;/p&amp;gt;"></div>



 Nearly 8,000 miles away from the Capitol Hill, in New Delhi, the Indian Prime Minister announced a complete nationwide lockdown for 21 days starting the midnight of March 25. However, 90% of India's workforce, which works in unorganised spaces without any social or financial security and savings, is still hoping and praying for sustenance money while the country unites in its fight to curb the spread of Covid-19, a deadly virus that has no vaccine or cure. 
	
 <div type="image" title="Narendra Modi" msid="74806070" hostid="261" caption="&amp;lt;p&amp;gt;FILE- Feb.3, 2020 file photo, Indian Prime Minister Narendra Modi announced a 21-day nationwide complete lockdown starting the midnight of March 25.Photo/Manish Swarup, File)&amp;lt;/p&amp;gt;"></div>



 
 Some of the key proposals in Trump's stimulus plan include that could be a template for India to follow as well: 1. $1,200 cheques to individual Americans, 2. A $367-billion loan program for small businesses, 3. A $500 billion fund for industries, cities and states, 4. A massive boost to unemployment insurance, 5. $150 billion for state and local stimulus funds, and 6. $130 billion for hospitals. So far, India's <a href="https://www.businessinsider.in/policy/economy/finance-minister-nirmala-sitharaman-speech-highlights-and-updates/articleshow/74789836.cms" data-type="tilCustomLink" target="_blank">Finance Minister Nirmala Sitharaman has announced some welcome reprieve</a> on many compliance requirements for businesses and individuals⁠— from income tax to goods and services tax, requirements under Companies Law to customs to banking, to name a few. However, according to Sitharaman, a government taskforce and its subgroups are still thrashing out the details of an impending stimulus. 
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 As Morgan Stanley's Ridham Desai recently said,"I do think the government, the Reserve Bank of India and others will come out with a package even to alleviate the economic crisis, because there is no point in just alleviating the health crisis, if the economic crisis goes on for a long term. Because that can result in unemployment, income loss and other pain." The breadth of India's poverty is just too huge The 2011 Census pegged India's poor population at 22%— more than one in five Indians earned less than ₹816, or ₹27 a day a month. The National Sample Survey Office showed that the average household in India spent about ₹1,500 a month in 2017. 
	
 <div type="image" title="India Daily Life" msid="74806094" hostid="261" caption="&amp;lt;p&amp;gt;A woman selling posters of Bollywood stars and Hindu deities prepares to cross a street in Jammu, India, Sunday, March 1, 2020. Millions people in the country live in poverty and many of them migrate to the cities in search of a livelihood.Photo/Channi Anand)&amp;lt;/p&amp;gt;"></div>



 A <a href="https://www.businessinsider.in/policy/economy/article/pm-modi-address-to-the-nation-is-india-ready-for-total-lockdown/articleshow/74704162.cms" data-type="tilCustomLink" target="_blank">rough estimate of the cost of handing out</a> ₹1,500 in cash to every household that needs the money, is likely to be anywhere between ₹35,000 to ₹40,000 crore, for every month that the lockdown may last. This too, will only work if the supply chain of essential items continues to work unhindered. Or else, the cash in hand is useless. And it's not just the poor. The current uncertainty makes it difficult even for middle-class families in India, who are now starting to fear for their jobs, to plan their expenses and their future. The situation is definitely a lot more dire for the poor. Some large states like Uttar Pradesh and Tamil Nadu have announced cash handouts along with the lockdown. The fate of the poor hangs in a balance in many other states and they are looking towards any support no matter where it comes from— the state government or the centre. Without the assurance that they will be protected from starvation and necessities of daily life, as the political scientist and long-time India watcher Alastair Newton warned in a recent interview with Business Insider, the likelihood of a civil unrest cannot be ruled out. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/deal-on-a-roughly-2-trillion-coronavirus-stimulus-package-reached-between-the-senate-and-white-house-including-cutting-checks-to-americans/articleshow/74805238.cms" data-type="tilCustomLink" target="_blank">Deal on a roughly $2 trillion coronavirus stimulus package reached between the Senate and White House, including cutting checks to Americans</a> <a href="https://www.businessinsider.in/india/news/heres-what-india-want-from-modis-financial-package/articleshow/74795064.cmshttps://www.businessinsider.in/india/news/heres-what-india-want-from-modis-financial-package/articleshow/74795064.cms" data-type="tilCustomLink" target="_blank">Here's what India wants from Modi’s financial package</a> <a href="https://www.businessinsider.in/india/news/coronavirus-updates-in-india-and-steps-taken-by-narendra-modi-government/articleshow/74723667.cms" data-type="tilCustomLink" target="_blank">A look at Indian government response to coronavirus, so far, shows some quick reactions but not enough foresight</a>

Inside the $2 trillion US economic stimulus⁠— and what locked-down India can learn from it

<ul><li>The pandemic has endangered entire mankind and is more damaging than the World Wars, Modi said in his special address to the nation.</li><li>Modi called for people's determination and patience in a bid to stop the spread of the deadly coronavirus.</li><li>'<keyword id="1814675" type="PERSON" weightage="20" keywordseo="Janata-Curfew">Janata Curfew</keyword>' is a unique proposal for a lockdown to be implemented and supervised by citizens. People engaged in essential services can continue with their work. </li></ul>The covid-19 coronavirus pandemic has endangered entire mankind, Indian Prime Minsiter Narendra Modi said in his special address to the nation as he called for 'Janata Curfew', a unique proposal for a voluntary lockdown to be implemented and supervised by citizens. People engaged in essential services can continue with their work. While Modi has asked for this 'janata curfew' on March 22 (Sunday) but he also hinted that this may be extended if necessary. "I want a few weeks of my citizens' time," Modi said before revealing his proposal. What was missing from the Prime Minister's speech was a clear plan on how the government intends to increase the scale of screening, testing, and detecting those who are infected. This is because people at large did not adhere to required standards of social distancing that is needed to curb the pandemic. “Don’t be content that we have escaped the global pandemic and not be assured that all is well. We should all be alert and aware,” he said. The following are the other highlights of Modi's commentary on coronavirus: "Till now, science has no decisive solution or a vaccine to deal with the coronavirus pandemic. In such a situation, it is natural for people to get worried." "The epidemic seems to suddenly explode in all the countries that it has spread to. One cannot take this lightly, every Indian has to be alert," "Avoid leaving home unless it is extremely necessarily. Senior citizens above 60 to not leave home at all." "In a country like India, with its population of over 1.3 billion, which is striving for development this is not small challenge." "People of India must work with determination and patience. People must perform their duties as citizens, and follow the rules and guidelines set by both state and central governments." "Social distancing is necessity in times like this. People have to keep themselves protected and protect others too." "On Sunday, March 22, people should stand on their balconies, windows etc. to thank people in essential services like medical professionals, media, transport, home delivery, police, other key public services." "Modi also sought the doctors to postpone regular check-ups and surgeries that can be delayed, if possible by a month." "The government has set up a special taskforce to decide on the response to mitigate the economic impact of the coronavirus pandemic. The taskforce will regularly consult all stakeholders and take decisions as appropriate." "The supply of essential commodities will never be stopped, and therefore, people should not resort to 'panic buying'." Modi also appealed to businessmen and high net-worth individuals to deal with employees ho are not able to get to work with compassion. Here's a visual guide to the progression of coronavirus in India 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/article/pm-modi-address-to-the-nation-is-india-ready-for-total-lockdown/articleshow/74704162.cms" data-type="tilCustomLink" target="_blank">Important facts Prime Minister Narendra Modi must consider before his address to the nation</a> <a href="https://www.businessinsider.in/finance/news/rupee-records-a-new-low-trading-at-75-against-dollar-for-the-first-time/articleshow/74707789.cms" data-type="tilCustomLink" target="_blank">Rupee records a new low, trading at ₹75 against dollar for the first time</a> <a href="https://www.businessinsider.in/india/news/an-indians-shopping-guide-during-the-coronavirus/articleshow/74703488.cms" data-type="tilCustomLink" target="_blank">An Indian’s shopping guide during the coronavirus pandemic</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-delivery-workers-to-get-leave-with-full-pay-if-quarantined/articleshow/74709093.cms" data-type="tilCustomLink" target="_blank">Flipkart delivery workers to get leave with full pay if quarantined</a>

Prime Minister Narendra Modi tells 1.3 billion Indians to impose a symbolic 'janata curfew' on March 22

Kejriwal's spectacular win has five lessons for Rajinikanth, Mamata Banerjee, MK Stalin, and Lalu Yadav

<ul><li>Voter turnout 57.68% at 8:00 pm, according to Election Commission data.</li><li>Track the updated <a href="https://www.businessinsider.in/politics/elections/news/final-voter-turnout-in-delhi-election-2020/articleshow/74023521.cms" data-type="tilCustomLink" target="_blank">voter turnout data</a> here. </li><li>The police have deployed around 40,000 security personnel, 19,000 home guards and 190 companies of Central Armed Police Forces to ensure smooth conduct of the polls.</li><li>India's national capital is in election mode; it's the voting day in the all-important assembly election.</li><li>Over 1.46 crore registered voters have to pick between the incumbent Aam Aadmi Party (AAP) government and the challenger Bharatiya Janata Party (BJP), the party to which the country's Prime Minister Narendra Modi belongs.</li><li>Check out some <a href="https://www.businessinsider.in/politics/elections/news/interesting-facts-about-delhi-election-2020/articleshow/74020815.cms" data-type="tilCustomLink" target="_blank">interesting trivia around Delhi assembly election 2020</a> here.</li></ul>India's national capital is in election mode; it's the voting day in the all-important assembly election. Over 1.46 crore registered voters have to pick between the incumbent Aam Aadmi Party (AAP) government and the challenger Bharatiya Janata Party (BJP), the party to which the country's Prime Minister Narendra Modi belongs. AAP, led by Kejriwal, is hoping to repeat its stellar performance of the last assembly polls when it won 67 of the 70 seats in Delhi assembly. The BJP bagged all seven seats in Delhi in the 2019 Parliamentary election, is looking to dislodge the Kejriwal government. 
	
 
 
 
 
 
 
 
 <div type="image" title="image (5)" msid="74021665" hostid="261" caption="&amp;lt;p&amp;gt;The final results of the last Delhi assembly election.&amp;lt;/p&amp;gt;"></div>

















 Meanwhile the Congress is seeking to better its performance than last time when it drew a blank in both the assembly as well as general election. 
 
 
 
 
 
 
 
 
 <div type="image" title="NEW DELHI:DELHI ASSEMBLY ELECTION 2020 : PTI GRAPHICS(..." msid="74020680" hostid="261" caption="&amp;lt;p&amp;gt;DELHI ASSEMBLY ELECTION 2020 :GRAPHICS(&amp;lt;/p&amp;gt;"></div>



















 The results of the election will reflect the importance of the ongoing debate and outrage over the Central government's recent citizenship law that has led to a bitter war of words, and an <a href="https://www.businessinsider.com/indias-divisive-protests-could-help-modis-party-in-election-test-2020-2?IR=T" data-type="tilCustomLink" target="_blank">unrelenting sit-down protest</a> at Shaheen Bagh, in south-eastern Delhi. There are five polling stations around the Shaheen Bagh area. 
	
 
 
 
 
 
 
 
 
 
 <div type="image" title="New Delhi: Poll officials arrive at a polling station on the eve of Delhi Assemb..." msid="74020586" hostid="261" caption="&amp;lt;p&amp;gt;Poll officials arrive at a polling station on the eve of Delhi Assembly elections, at Shaheen Bagh in New Delhi. The area has been in the news for nearly two months due to continuous agitation against CAA and NRC.Photo/Kamal Singh) (&amp;lt;/p&amp;gt;"></div>





















 The incumbent AAP government has sought votes for its work in the last five years while the BJP, on the face of it, is banking on its charm as national party, with a charismatic Prime Minister. But Modi's party did not leave anything to chance. In the run up to these elections there was a constant attempt by the BJP kept the debate over the Citizenship Amendment Act (CAA) and the proposed National Register for Citizens to get the Hindu voters of Delhi to swing its way. 
	
 
 
 
 
 
 
 
 
 
 <div type="image" title="India New Delhi Elections" msid="74020596" hostid="261" caption="&amp;lt;p&amp;gt;In this Monday, Feb. 3, 2020, photo, a supporter of India&amp;#39;s ruling Bharatiya Janata Party (BJP) holds a mace, used as a weapon by Hindu god Hanuman, as he shouts slogans during an election campaign rally for the upcoming Delhi elections in New Delhi, India. Campaigning for a crucial state election in India&amp;#39;s capital has reached a fever pitch as members of the Hindu nationalist-led government call for violence against minority Muslims and invoke the specter of arch-nemesis Pakistan to reverse course after a pair of losses in recent state polls.Photo/Manish Swarup)&amp;lt;/p&amp;gt;"></div>





















 These are some of the highlights from the voting day: The polling began at 8 am and will end at 6 pm. The voter turnout has been recorded at 4.33% till 10 am, according to ANI. Meanwhile, Arvind Kejriwal who cast his vote, along with his family, in the New Delhi constituency made several appeals to the electorate. "You must go to vote. Special appeal to all women - Just like you bear the responsibility of home, the responsibility of the country and Delhi is also on you. All of you ladies must go to vote and also take the men of your house. Make sure to discuss with men about who are the right ones to vote for," Kejriwal said in a tweet this morning in Hindi. Soon after, he expressed anguish over reported attempts to bribe voters. The Election Commission's data shows that they seized ₹57 crore -- ₹12.33 crore cash, ₹2.83 core liquor and ₹42.32 in other assets like narcotics, bullion and jewelry. "Because of our enforcement and the preventive action, the election has passed peacefully," said the Election Commissioner of Delhi. Multiple EVM snags were also reported, including <a href="https://www.news18.com/news/politics/delhi-elections-2020-live-updates-assembly-polls-voting-aap-bjp-congress-shaheen-bagh-arvind-kejriwal-modi-2492067.html" data-type="tilCustomLink" target="_blank">one in Kejriwal's constituency</a>. However, according to Election Commission, EVM replacement was as low as 0.97%. "Less than 1% VVPAT replacement is very heartening news," claimed the Election Commissioner of Delhi. 
	
	
	
	
	
	<div type="twitter" handle="ArvindKejriwal" handlename="Arvind Kejriwal" image="http://pbs.twimg.com/profile_images/945853608389574656/REH_LpUJ_normal.jpg" favoritecount="33696" retweetcount="5599" status="मुझे कई लोगों के फ़ोन आ रहे हैं कि वो लोग पैसा बाँटेंगे, षड्यंत्र करेंगे। मेरी सबसे अपील है-“सत्य आपके साथ है। आपने… https://t.co/bzgDRVJZ8N" createdat="1581060691000" id="1225683492358373378"></div>













 Meanwhile Prime Minister Modi too, made an appeal to the voters. 
	
	
	
	
	
	
	
	
	<div type="twitter" handle="narendramodi" handlename="Narendra Modi" image="http://pbs.twimg.com/profile_images/1134082549041393672/QbihPzrL_normal.png" favoritecount="8163" retweetcount="2142" status="दिल्ली विधानसभा चुनाव के लिए आज मतदान का दिन है। सभी मतदाताओं से मेरी अपील है कि वे अधिक से अधिक संख्या में लोकतंत्… https://t.co/rmvc7PXsc1" createdat="1581129250000" id="1225971049856004097"></div>



















 A police officer who reportedly shot a fellow woman cop before committing suicide casts a tense shadow on the mood in Delhi on voting day, according to a TV channel Mirror Now. Security has been beefed up along the borders of Delhi. Video recordings and vehicles are being checked at 36 points between Ghaziabad and Delhi, <a href="https://www.aninews.in/news/national/general-news/tight-vigil-at-ghaziabad-gurugram-border-ahead-of-polling-today20200208033646/" data-type="tilCustomLink" target="_blank">according to an ANI report</a>. Security forces kept a tight watch across the 70 constituencies, with police and paramilitary personnel keeping an "extra vigil" in sensitive areas like Shaheen Bagh, Jamia Nagar and Seelampuri, the IANS reported. The police have deployed around 40,000 security personnel, 19,000 home guards and 190 companies of Central Armed Police Forces to ensure smooth conduct of the polls. 111 years old Kalitara Mandal, the oldest voter of Delhi, cast her vote today. "I've always cast my vote ever since I received my voter ID. I feel happy while casting vote. It gives me power. I wish each &amp; every citizen casts his vote," she reportedly said. At 8:00 pm, the voter turnout was at 57.68%. However, voting is still underway. "Till everyone who was at the polling stations at 6:00pm have voted, the polling will go on at the polling stations concerned," said the Election Commissioner of Delhi. See also: <a href="https://www.businessinsider.in/politics/elections/news/how-can-i-check-my-name-in-the-voter-list/articleshow/73999763.cms" data-type="tilCustomLink" target="_blank">Here's how to check your name in the voting list</a> <a href="https://www.businessinsider.in/politics/elections/news/delhi-election-2020-dont-have-voter-id-carry-these-documents-to-the-polling-booth/articleshow/73999876.cms" data-type="tilCustomLink" target="_blank">Don’t have voter ID? Carry these documents to the polling booth</a>

Delhi Elections 2020: Voting day news and highlights

<ul><li>Another shocking scoop from Business Standard showed that the Narendra Modi government did not release a report that showed economy in distress.</li><li>India's consumer spending fell for the first time in four decades according to a survey approved for release in June 2019, but is yet to hit the public domain.</li><li>This is the second time a similar allegation has been made against the government; another NSO survey on rising unemployment was held back from release by the government until the elections were over.</li></ul>Another shocking scoop from Business Standard showed may have the Narendra Modi government firefighting. A scoop from Somesh Jha said that the Indian government did not release a report that showed economy in distress. India's consumer spending fell for the first time in four decades according to a survey approved for release in June 2019, but is yet to hit the public domain. According to the report, the money spent by a household in consumption fell from ₹1,501 a month in 2011-12 to ₹1,446 a month in 2017-18. This is the second time a similar allegation has been made against the government; another National Sample Office (NSO) survey on rising unemployment was held back from release by the government until the elections were over. The survey was conducted between July 2017 and June 2018, eight months after demonetisation and during the rollout of the Goods and Services Tax (GST), and it is hardly surprising. The slowdown in the economy has been palpable and spoken of by various economists and market watchers ad nauseam. But the government decided to hold back the report until it was reported in Business Standard today. According to the latest report cited by the daily, money spent on consumption fell 8.8% in rural areas. This fall has been visible in slowing volume of growth of giants like Hindustan Unilever, Marico, Parle G etc. in recent quarters, which make a bulk of their earnings from smaller towns and villages. The falling growth in wages, particularly in rural India, is a big reason why people turned penny wise. 
 
 
 
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 While the overall spending in urban areas rose 2% in the said period of 12 month, there was a marked fall in money spent on cereals, sugar, salt, spices, and pulses etc. in both the cities and villages. SEE ALSO: <a href="https://www.businessinsider.in/a-hidden-jobs-survey-in-india-casts-doubt-on-data-integrity-under-narendra-modi-government/articleshow/67750383.cms" data-type="tilCustomLink" target="_blank">Modi government has a hidden jobs report — say two independent bureaucrats who just quit</a>

Indian government hid another survey that showed fall in consumer spending for the first time in four decades: Report

<ul><li>The sale of the national carrier has always been a politically sensitive issue.</li><li>Reports suggest that the government may sell the airline but transfer just a fourth of the company's debt.</li><li>The proposal may give Narendra Modi's rivals ammunition to attack him for selling a national asset cheap.</li></ul>The sale of Air India has been contemplated for years, unsuccessfully. An attempt made in 2018 failed too. Now, there is a consensus like never before that the ailing national carrier must be disposed off to a willing investor. But, there may be a new twist in the tale that may make the issue political once again. According to an <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/new-air-india-sale-offer-may-keep-working-capital-debt-out/articleshow/71176962.cms" data-type="tilCustomLink" target="_blank">Economic Times report citing sources</a>, the government is looking to reduce the amount of debt on the books to a fourth of its original amount before selling the airline. When the government invited bids for Air India in 2018, the debt on the books was close to ₹59,000 crore. Of that, ₹29,400 crore was moved to a special purpose vehicle (SPV) that houses debt and assets of the national carrier. This amount is being repaid through government-guaranteed bond issues in three batches. Of the ₹30,000 crore remaining, about ₹15,000 crore is working capital debt, which the government may reportedly bear the burden. So, the potential buyer will only have the remaining ₹15,000 crore to shoulder-- just a fourth of the original amount. Making Air India attractive The idea is to make the debt-laden Air India, with all its operational inefficiencies, an attractive proposition for potential buyers. There was no response to the government's last call for bids. However, some of the factors have changed since last year. On the upside, the disappearance of Jet Airways from the Indian skies has helped airlines charge more for tickets and make some money out of it. So much so that Air India is hoping to turn profitable this year, for the first time in over a decade. On the downside, while India's aviation sector is expected to become the world's third largest aviation market by 2024, according to the International Air Transport Association, the passenger traffic has slowed down in recent months and that has dented performance for all airlines. The government is also hamstrung by its own ideological parent, the Rashtriya Swayamsevak Sangh's insistence that the airline must not be sold to a foreign peer. That leaves very few interested parties who may be interested or can afford to spend on buying an airline. While on the balance, the government will weigh out all its options, Prime Minister Narendra Modi's political rivals are unlikely to miss any opportunity possible to corner the government finding faults in the sale of Air India, a national asset that has evoked strong emotions in the past. SEE ALSO: <a href="https://www.businessinsider.in/emirates-wont-buy-air-india-but-spicejet-flights-under-code-share-likely-by-diwali/articleshow/70970408.cms" data-type="tilCustomLink" target="_blank">Emirates is not interested in Air India but is excited about its code share with SpiceJet</a>

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