Explained: US Congress clears $900 bn Covid-19 package. How will it help Americans?
The impact of the legislative action could resonate beyond the US, in terms of assuaging market sentiments across geographies, especially coming a day after markets tanked following reports of the new coronavirus strain in Britain and South Africa. Written by Anil Sasi , Edited by Explained Desk
Get email alerts for your favourite author. Sign up here New Delhi | Updated: December 22, 2020 10:59:54 am
Congressional leaders have hashed out a massive, year-end catchall bill that combines $900 billion in COVID-19 aid with a $1.4 trillion spending bill and reams of other unfinished legislation on taxes, energy, education and health care. (AP Photo)
New Delhi | Updated: December 18, 2020 8:33:18 am
The Wistron facility in Narasapura near Bengaluru. (Reuters)
The violence at Wistron Corp’s iPhone manufacturing facility in Kolar, Karnataka, is being viewed as having wider ramifications in India’s renewed manufacturing sector push, prompting a damage control exercise that is now being driven directly by the Centre. The state administration is learnt to have been instructed to salvage the situation and ensure a quick resolution.
Union government officials indicated there are three reasons why, from an administrative standpoint, the violence at the Wistron unit is being viewed as more than just a skirmish at a phone assembly unit. The timing is being seen as being particularly detrimental, given that it comes close on the heels of the Centre’s concerted push for the production-linked incentives (PLI) scheme, where the limited success in the smartphone assembly sector is now being sought t