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The Covid-19 pandemic has made an unprecedented impact on the Indian businesses, particularly small and medium enterprises (SMEs) and startups. According to a joint survey by FICCI and Indian Angel Network (IAN), the pandemic has hit the businesses of around 70% startups.

With uncertainty in the business environment and an unexpected shift in priorities of the government as well as corporates, many startups are struggling to survive, it says.

In a nationwide survey on the 'Impact of Covid-19 on Indian Startups' involving 250 startups, 70% participants said their businesses had been impacted by Covid-19 and around 12% had shut operations.

The survey shows only 22% startups have cash reserves to meet the fixed cost expenses over the next 3-6 months, and 68% are reducing operational and administrative expenses.

Around 30% of the companies said they would retrench employees if the lockdown was extended too long. The 43% startups have already started 20-40% salary cuts over April-June.

Over 33% startups said investors had put the investment decision on hold and 10% said the deals had been scrapped. Only 8% startups had received funds as per the deals signed before Covid-19 outbreak, the survey revealed.

The reduced funding has forced startups to put a hold on business development and manufacturing activities, which has resulted in loss of projected orders.

The survey highlights the need of an urgent relief package for startups, including possible purchase orders from the government, tax relief and swifter tax refunds, and immediate fiscal support measures, including grants, soft loans and payroll grants.

Besides 250 startups, 61 incubators and investors also participated in the survey.

While 96% of investors accepted that their investments in startups had been impacted by Covid-19, 92% said their investments in startups would continue to be low over the next six months.

Around 59% investors said they would prefer to work with the existing portfolio firms in the coming months. Only 41% said they would consider new deals.

"A comparison of priority investment sectors before and during Covid-19 shows 35% investors are now looking at investments in healthcare startups, followed by EdTech, AI/Deep Tech, FinTech and Agri," said the survey.

Around 44% incubators surveyed said their day-to-day operations had been considerably hit by Covid-19. Most incubators are now supporting their portfolio firms by providing them virtual platforms to interact with mentors, investors and industries.

Dilip Chenoy, FICCI Secretary General, said, "The startup sector is stressed for survival at the moment. The investment sentiment is also subdued and is expected to remain so in the coming months. Lack of working capital and cash flows may lead to major layoffs over the next 3-6 months."

Indian startups needed an enabling ecosystem and flow of funds to continue operations, the survey said.

Padmaja Ruparel, President, Indian Angel Network & Co-Chair of FICCI Startup Committee, said, "In these uncertain times, as investors, we must play an important role to provide the Indian startups funding, mentoring and hand-holding support to stay afloat and come out at the other end of this crisis."

To that end, IAN recently announced a debt fund to help IAN portfolio companies raise working capital and ensure business continuity by partnering with debt providers.

This must be replicated on a wider scale, so a larger number of startups are provided the capital support to make it during these tough times, Ruparel said.

New Zealand's research institute in Antarctica is scaling back the number of projects planned for the upcoming season, in an effort to keep the continent free of coronavirus, it was reported on Tuesday.

The government agency, Antarctica New Zealand, told the BBC on Tuesday that it was dropping 23 of the 36 research projects.

Only long-term science monitoring, essential operational activity and planned maintenance will go ahead.

The upcoming research season runs from October to March.

"As COVID-19 sweeps the planet, only one continent remains untouched and (we) are focused on keeping it that way," Antarctica New Zealand told the BBC.

The organisation's chief executive Sarah Williamson said the travel limits and a strict managed isolation plan were the key factors for keeping Scott Base - New Zealand's research facility - virus free.

"Antarctica New Zealand is committed to maintaining and enhancing the quality of New Zealand's Antarctic scientific research. However, current circumstances dictate that our ability to support science is extremely limited this season" she said.

Earlier in April, Australia announced that it would scale back its activity in the 2020-21 summer season.

This included decreasing operational capacity and delaying work on some major projects.

Kolkata, May 15: Veteran Bengali author Debesh Roy, who was conferred the Sahitya Akademi award for his novel 'Teesta Parer Brittanto', died at a private hospital in Kolkata on Thursday, his family members said.

Roy was 84 and he is survived by his son. His wife had died earlier.

He was admitted to the hospital near his residence at Baguihati, in the eastern fringes of the city, on Wednesday after having symptoms like sodium potasium imbalance, sugar problem and breathing problem, his family members said.

He suffered a massive cardiac arrest and died at 10.50 PM.

A regular contributor to a number of Bengali dailies, he was a staunch critic of the attacks on liberals by in the country in recent times and attended protest meetings despite his failing health.

He was born in Pabna in present-day Bangladesh on December 17, 1936. He had five decades of career as a writer.

Besides Teesta Parer Britanta', he will be remembered for books like Borisaler Jogen Mondal , Manush Khun Kore Keno and Samay Asamayer Brittanto . His first book was Jajati.

His last rites will be performed tomorrow.