The products of the handicraft artisans can also be displayed through the virtual reality showroom at places where people gather in large numbers like airports and commercial complexes
At present, open market borrowings or state development loans are the chief source of funding the fiscal deficit of state governments.
The revision for rating is on account of expected sharp revenue and margin decline expected for financial year 2020-21 due to steep demand drop owing to the pandemic
Through a virtual Handicrafts Mela, Amazon India aims to generate consumer demand for arts and crafts that reflect the cultural heritage of the country, he added.
Road transport corporations' revenues to contract 35-40 per cent in FY21 due to COVID-19 challenges: ICRA
The most significant challenge ahead for the RTCs after the lockdowns are fully lifted would be to increase passenger movement while containing the spread of the virus.
The rating agency said corporate revenues had been falling for three quarters prior to the last one due to the weak macroeconomic climate but had never declined by as high as the 31.1 per cent.
Majority of the national highway stretches being arterial routes have 70-75 per cent of toll collections from commercial vehicles; passenger vehicles account for less than a quarter of toll collection
ICRA said the rapid spread of the pandemic has crippled the economy globally over the past five months, and India is no different.
The board which comprised members from Centre, state governments was constituted on January 23, 1992 under the chairpersonship of Union Minister of Textiles.
ICRA said despite the overall muted macro-economic sentiments, on the positive side, the rural economy offers some growth off-shoots in the form of healthy rabi output and lower COVID-19 impact.
Within the renewable segment, the utility scale solar segment is expected to be very close to the 60 GW capacity target set by the government.
The global light vehicle outlook too is expected to remain negative in the next 12-18 months and these factors will have a serious bearing on auto component industry’s prospects, added Ray.
The share of diesel vehicles has already reduced to 29 per cent in 2019-20 from 58 per cent from 2012-13, and it will further reduce to about 15-18 per cent.
According to the agency, the project is now likely to get completed by 2025-26 instead of the earlier envisaged 2021-22.
For FY20, NPAs are pegged at 8.6% and considering the unexpected rise in bad loans in FY21, capital needs of banks shot up from Icra’s earlier estimate of Rs 10,000-20,000 crore.