Azaan from mosques causes noise pollution: Tripura governor

Jan 24: India’s economy appears to be shaking off a slump, as activity in the services and manufacturing sectors expanded for a second straight month in December.

The needle on a gauge measuring so-called animal spirits signaled the economy may be taking a turn for the better, as five of the eight high-frequency indicators tracked by Bloomberg News came in stronger last month. The dial was last at the current position in August.

“Animal spirits” is a term coined by British economist John Maynard Keynes to refer to investors’ confidence in taking action, and the gauge uses the three-month weighted average to smooth out volatility in the single-month numbers.

The nascent recovery would need a helping hand, with expectations building that Finance Minister Nirmala Sitharaman will provide some stimulus when she presents the budget Feb. 1. Official forecasts show the economy is set to expand at 5% in the year ending March 2020 -- the weakest pace in more than a decade.

Here are the details of the dashboard:

Business Activity

The dominant services index rose to the highest level in five months in December as improving new work orders helped boost activity. The seasonally adjusted Markit India Services PMI index climbed to 53.3 from 52.7 in November, helping post a strong end to the calendar year.

India’s manufacturing PMI also rose -- to 52.7 from 51.2 a month ago -- boosted by the fastest increase in new orders since July. A reading above 50 means expansion while anything below that signals contraction.

The uptick in business confidence was accompanied by a rise in inflationary pressures, the survey showed. That trend may keep monetary policy makers from resuming interest-rate cuts anytime soon, leaving most of the heavy-lifting to boost growth with the government.

“The relative stability in macro indicators over the past two months suggests that the worst is behind, but the recovery is likely to be prolonged,” said Teresa John, an economist at Nirmal Bang Equities Pvt. in Mumbai. “Still, sluggish growth and rising inflation indicate that India may well remain in stagflation for most of 2020.”

Exports

Exports remained a laggard, falling 1.8% in December from a year ago. The drag was mainly because of a fall in export of engineering goods, which constitute a third of India’s non-oil exports.

Capital goods imports continued to contract and was lower by 16.5% year-on-year in December after a 22% drop in November. This was the seventh consecutive month of continuous decline, underscoring the weakness in the capex cycle, according to IDFC First Bank.

Consumer Activity

Weakness in demand for passenger vehicles persisted, with local sales falling 1.2% in December from a year ago, according to the Society of Indian Automobile Manufacturers. That capped the worst yearly passenger vehicle sales on record. A Nielsen study on demand for fast-moving consumer goods showed volume growth dropped to 3.5% in the last quarter of 2019 from 3.9% in the same period of 2018.

Funding conditions held out hope, showing considerable improvement in December, according to the Citi India Financial Conditions Index. Credit growth remained tardy though, with demand for loans rising at a slower 7.1% pace from a year ago compared with a nearly 8% growth in November.

Industrial Activity

Industrial output rose for the first time in four months in November. The pick up was broad-based, led by mining, manufacturing and electricity. Mining and manufacturing, in particular, posted a second month of sequential growth. Production of consumer goods also rose after a few months of contraction.

The index of eight core infrastructure industries, which feeds into the index of industrial production, however, declined 1.5% in November from a year ago -- the fourth straight month of contraction. That was on account of shrinking production of electricity, steel, coal, natural gas and crude oil. Both the core sector and industrial output numbers are reported with a one-month lag.

New Delhi, Jun 3: Seasoned diplomat and former spokesperson of the External Affairs Ministry Raveesh Kumar has been appointed as India's next Ambassador to Finland, the government announced on Wednesday.

Raveesh Kumar, a 1995-batch Indian Foreign Service officer, served as the spokesperson of the MEA from July 2017 to April 2020 during which he deftly articulated India's position on a number of sensitive issues including last year's Balakot strike, reorganisation of Jammu and Kashmir and the controversy surrounding the National Register of Citizens.

"He is expected to take up the assignment shortly," the MEA said.

Before becoming the MEA spokesperson, Kumar was serving as Consul General of India in Frankfurt.

Kumar started his career at the Indian Mission in Jakarta and it was followed by his postings in Thimpu and London.

In his nearly 25-year career, Kumar also looked after the East Asia desk in the headquarters of the MEA in Delhi and served as Deputy Chief of Mission in Jakarta followed by his posting as Consul General in Frankfurt from August 2013 to July 2017.

In Finland, he succeeds Vani Rao.

Finland is an important country for India in Europe, and bilateral trade has been on an upswing in the last few years.

Around 35 Indian companies have invested in Finland in IT, healthcare, hospitality and automotive sectors while over 100 Finnish companies have operations in India in energy, textiles, power plants and electronics sectors.

London, Jan 11: Former cricketer Sachin Tendulkar's famous lap around the Wankhede Stadium after the World Cup 2011 win has been nominated in Laureas's list for the most inspiring sporting event in the last twenty years.

The moment featuring Tendulkar has been described as "Carried on the shoulders by a nation".

On his sixth attempt at the World Cup and with India not having won the competition since 1983, Tendulkar finally became a part of the team that lifted the coveted trophy. Carried on the shoulders of the Indian team, he made a lap of honour, shedding tears of joy after the victory was sealed in his home city.

The 2011 World Cup was also the first time, in which a host nation ended up winning the trophy.

Apart from Tendulkar, England's Andrew Flintoff is the only other cricketer to feature in the list. In 2005, England managed to defeat Australia in an Ashes Test, but Flintoff chose to first shake hands with Brett Lee rather than celebrate with his side.

Matthias Steiner (weightlifting), Natalie du Toit (swimming), Sky Brown (skateboarding), Alistair and Jonathan Brownlee (triathlon), Xia Boyu (mountaineering) have been nominated in the list.

Female tennis stars also feature in the list for coming up with an equal play, equal pay campaign. After pressure from Venus Williams and others, Wimbledon announced that female tennis players would receive prize money equal to the men's.

German international footballer Miroslav Klose was playing for Lazio in Italy's Serie A in 2012 against Napoli when he rose for a ball in the early moments of the game.

The ball came spiraling off his hand and skirted into the back of the net and a goal was awarded. While most players would carry on as if nothing had happened, Klose was honest with the referee and admitted that he handled the ball.

As a result, he also finds a place on the list.

The Laureus Sporting Moment Award celebrates the moments where the sport has unified people in the most extraordinary way.

This campaign has shortlisted 20 sporting stories from the last 20 years that have left their mark on the world.

The winner will be decided on the basis of public voting. It has already started, and the final date to cast the vote is February 16.

Finally, the result will be declared on February 17.
With three knock-out rounds, the top-20 moments will be whittled down to ten then five, with the top-five moments going head-to-head.