Lockdown, Day 36: India sets off rating alerts

India crossed two grim milestones in the last 24 hours, with the total number of cases topping 30,000 — ending the day at 31,411 — and the death toll going past 1,000. Both the number of new cases, at 1,897, and fatalities (73) reported in the last 24 hours, were the highest reported in a single day so far.

Mumbai alone has now reported more than 6,000 cases.

Meanwhile, India's economic outlook is getting bleaker by the day. Fitch slashed the GDP estimate to 0.8% from 5.6% in December. Moody’s downgraded India’s growth estimate to 0.2% from 2.5% it had assessed in March.


Here are the developments so far...


COUNT SO FAR

• 94 new cases in Indore; MP state tally nears 1,500
• Mumbai reports more than 6,000 cases
• Rajasthan now has 2,383 cases
• 20 more cases in Uttar Pradesh
• AP reports 73 more cases; tally climbs to 1,332
• Karnataka case count rises to 532
• Haryana case count climbs to 308
• Agra reports 21 new cases; district tally now 425
• Odisha reports 3 more cases; state tally climbs to 122
• Bihar reports 12 more cases; tally climbs to 378

World		India
Tally	Toll	Tally	Toll
31,17,880	2,17,212	31,332	1,007

BUSINESS AND ECONOMY

• Sensex rallies 606 pts; Nifty tops 9,500
• No salaries for April, May for SpiceJet pilots
• Jio Q4 results preview: Profit likely to double

WORLD ECONOMY

• US oil jumps more than 14%, above $14 a barrel
• Alphabet-Google profit up despite ad slump
• VW sees 'severe' virus impact but no annual loss ahead
• Airbus posts 481 mln euro Q1 loss
• Fitch downgrades Italy rating to BBB-
• Euro zone economic sentiment crashes to 67.0 points - steepest fall ever
• Saudi reserves plunge the most in 2 decades

GLOBAL TALLY

• Over 2,200 deaths in 24 hours in the US, total tally tops 1 million
• IMF approves $3.4 bn aid to Nigeria
• Mainland China reports 22 new cases vs 6 a day earlier
• Mexico's registers 1,223 new cases, 135 deaths
• Italy cases top 2,00,000
• Singapore reports 690 new cases, mostly foreign workers

ET SURVEY

• Can India hit the ground running? Tell us what you think