June 21, 2020

8 min read

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According to the Bureau of Labor Statistics, 21 million people are currently unemployed. To put this in perspective, the Great Recession in the early-2000s saw its height of in 2010 at 14.8 million. The COVID pandemic has not only left this number in the shadows, but the speed at which it occurred is also like no other in our history. The result? Employees and contractors were quickly displaced and left scratching their heads saying, “What just happened?” Businesses scrambled to communicate with employees, clients, and vendors. Leadership teams worked tirelessly to adhere to remote requirements, struggled to put technologies in place, and quickly built new processes to maintain revenue that would keep the doors open and employees on staff. It has left a trail of exhaustion. But, in the wreck of it all, the

is facing a problem of getting funds from the Centre, which has been “static” for the last five years, its deputy chairman Arun Kumar Ray said on Saturday.

He urged the industry to stand on its own feet and said exporters will have to contribute towards the promotion and branding of the beverage.

Speaking at a webinar organised by Indian Chamber of Commerce, Ray said the board spends 90 per cent of the funds it receives from the government on subsidy purposes.

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“Now the board is having financial issues and hopefully, things will improve next year,” he said, adding that the statutory body under the Union Ministry of Commerce has kept replantation subsidy in abeyance for the time being.

Gold prices remained stable at Rs 47,450 per 10 gram, while silver went up to Rs 48,050 from Rs 47,550 per kilogram on Saturday, according to the Good Returns.

The prices of gold jewellery vary across India, which is the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

In New Delhi, the price of 22-carat gold is holding steady at Rs 46,250 per 10 gram, while in Chennai it is Rs 45,570. In Mumbai, the rate is Rs 46,100, according to Good Returns website. Prices of 24-carat gold prices in Chennai is Rs 49,710.

On MCX, August gold futures rose 1.23% to Rs 47,937 per 10 gram. Silver July futures also rose nearly 1.62% to Rs 48,636 per kilogram. MCX has decided to accept gold and silver bars refined at domestic refineries for