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May 30, 2020

Lockdown5 : Economic activities across all sectors are likely to resume from 1 June 2020

by facelesscompliance in Compliance Law, Corporate Law

Lockdown5 : Economic activities across all sectors are likely to resume from 1 June 2020

India’s economy grew 3.1 per cent in the January-March quarter compared with the same period last year, official data showed on Friday, reflecting the partial impact of the Coronavirus Pandemic

The headline number for the full FY20 financial year came to an 11-year low of 4.2 per cent, against 6.1 per cent in 2018-19, said the Ministry of Statistics and Programme Implementation (Mospi) in a statement.

As on 30 May 2020, 11,264 COVID19 patients cured over the last 24 hours, India’s recovery rate increases by 4.51 per cent to 47.40 per cent. Number of active patients declines from 89,987 to 86,422

No curtailment of economic activities across sectors post May 31 as MHA is about to draft final guidelines

The sources added that while focus will be on red zones and containment zones, where the government will continue restrictions, companies may be encouraged to “shift or relocate, but not stop activities.

In lockdown 5.0 there cannot be any going back. Both health and economy have to go side-by-side as per the sourced based news

CNN-News18 channel reported that there will be no curbs on economic activities post lockdown 4.0, which ends on May 31, top government sources

The report said that the Centre is looking at setting up a ‘minimum baseline of restrictions’, which cannot be negated by states, but states will have freedom to add existing riders on top of what is already mandated by the Centre.

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