122 killed in 6,126 encounters in 3 years in Uttar Pradesh; 13 cops lose their lives

Feb 28: The best economic tonic for the coronavirus shock is to contain its spread and worry about stimulus later, said Raghuram Rajan, former head of the Reserve Bank of India.

There’s little central banks can do, and while more government spending would help, the priority should be on convincing companies and households that the virus is under control, he said.

“People want to have a sense that there is a limit to the spread of this virus perhaps because of containment measures or because there is hope that some kind of viral solution can be found,” Rajan told Bloomberg Television’s Haidi Stroud Watts and Shery Ahn.

“At this point I would say the best thing that governments can do is to really fight the epidemic rather than worry about stimulus measures that comes later,” said Rajan, who is currently a professor at the Chicago Booth School of Business.

The spread of coronavirus is pushing the world economy toward its worst performance since the financial crisis more than a decade ago.

Bank of America Corp. economists warned clients Thursday that they now expect 2.8% global growth this year, the weakest since 2009.

“We have moved from extreme confidence in markets to extreme panic, all in the space of one week,” said Rajan, who previously was chief economist at the International Monetary Fund.

The virus outbreak will force companies to rethink supply chains and overseas production facilities, he said.

“I think we will see a lot of rethinking on this, coming on the back of the trade disruption, now we have this,” Rajan said. “Globalization in production is going to be hit quite badly.”

Mumbai, Jan 12: Thousands of citizens on Sunday congregated in Mumbai's suburban Jogeshwari to oppose the new citizenship law, the proposed NRC and NPR.

They also condemned last Sunday's violence on the JNU campus in Delhi, where masked men ran riot and attacked students. Leftist organisations had claimed RSS-affiliated ABVP's role in the attack, a charge denied by the students' body.

Former Tata Institute of Social Science (TISS) general secretary Fahad Ahmed told PTI that they assembled under the aegis of 'Hum Bharat Ke Log' in Millat Nagar area.

"Prime minister Narendra Modi should call 56 students from across the country to debate on the CAA, NRC and NPR," Ahmed said in an apparent jibe at Modi's "56 inch chest" remark, which the latter had made ahead of the 2014 Lok Sabha polls.

"Why the PM is not talking to us? Why is he not communicating? Even the Britishers used to talk to Indians whom they ruled, but our PM is not talking to poor people," he alleged.

Bollywood actor Sushasht Singh also spoke on the occasion.

"We are people of this country and such acts (CAA) are tarnishing the image of our country," he said.

At the gathering, people waved banners with slogans like "I Am From Gujarat, My Documents Burned in 2002", "No CAA, Boycott NRC, Stop Dividing India, Don't Divide us", "Save Constitution", written on them.

A large number of police personnel were present at the venue.

The Citizenship Amendment Act (CAA), which was notified on January 10, grants Indian citizenship to non-Muslim minorities migrated to India from Afghanistan, Pakistan and Bangladesh till December 31, 2014, following persecution over their faith.

Massive protests were witnessed against the CAA, mainly by the student community, since its passage by Parliament in December last year.

Opposition parties have been dubbing the CAA an "anti-Muslim" legislation, a charge being debunked by the government.

The Congress and other parties like the TMC have also opposed the proposed National Register of Citizens (NRC) and the National Population Register (NPR).

Union home minister Amit Shah has said that the government won't rest until persecuted refugees are granted Indian citizenship.