BJP pulls out of alliance with PDP in J-K

Bengaluru, Mar 23: Indian stocks plunged over 9% on Monday, as the rapidly spreading coronavirus pandemic sent major states including the country's capital into a lockdown amid increasing fears that outbreak could bring world economies to a grinding halt.

The NSE Nifty 50 index slipped 9.17% to 7,937.75 by 0408 GMT, while the S&P BSE Sensex was 9.42% lower at 27,093.24.

Over the weekend in India, the virus drove several companies to shut operations and the government sent states into lockdowns, bringing normal life to a grinding halt.

"Panic has gone up domestically because of the lockdown situation," said Vinod Nair, head of research at Geojit Financial Services.

"There is fear that the situation will not be brought under control soon."

The rupee hit a fresh record low of 76.05 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world's reserve currency.

Meanwhile, global markets crumbled, with MSCI's broadest index of Asia-Pacific shares outside Japan sliding nearly 4% as the global death toll climbed to over 14,000, further battering economic activity, and raising fears of a global recession.

After market hours on Friday, the Securities and Exchange Board of India halved position limits for certain stock futures, restricted short-selling of index derivatives and raised margin rates for some shares to curb "abnormally high" volatility amid the pandemic.

In domestic trading, the Nifty PSU Bank Index plunged 8%, while the Nifty bank index crashed nearly 10%.

The Nifty Auto Index slid 9% after several carmakers over the weekend suspended production due to the virus.

Srinagar, May 12: Two paramilitary Central Reserve Police Force (CRPF) officers committed suicide after shooting themselves with their service rifles in Kashmir on Tuesday.

In the first incident, a CRPF sub-inspector on Tuesday committed suicide after shooting himself with his service rifle at Mattan area of south Kashmir’s Anantnag district. The deceased, identified as Fatah Singh of Jaisalmer in Rajasthan, had reportedly left behind a suicide note that read: “I am afraid, I may have Corona.”

Station House Officer (SHO) Akura, Mattan police station Jazib Ahmed said that they have followed the COVID-19 protocol while dealing with the body of the CRPF sub-inspector. “His samples have been taken and post-mortem conducted. Only results would confirm whether he was a COVID-19 positive,” he said.

CRPF spokesman in Srinagar Pankaj Singh said the officer had returned to his unit after performing a day-long duty. “As such, there is no evidence that he had caught COVID-19. Let’s wait for the final report. Details will be shared with the media,” Singh said.

Hours after the first incident, an assistant-sub-inspector of the CRPF posted in Srinagar also committed suicide by shooting himself dead with his service rifle.

Special Director General of CRPF, Zulfikar Hassan said they were trying to find out the reason for the two boys taking this extreme step.

Suicides and fratricide incidents are not uncommon among the CRPF and the Army personnel deployed in Kashmir. In 2006, recognising the rising fratricide and suicide cases among the armed forces, the then Defence Minister had constituted an expert group of psychiatrists under the Defence Institute of Psychological Research in order to suggest remedial measures to prevent suicide and fratricide incidents.

Over the last decade, incidents of fratricide have reportedly reduced in the Army as the force has taken measures to address the issue.

New Delhi, Apr 23: The nationwide lockdown in India which started about a month ago has impacted nearly 40 million internal migrants, the World Bank has said.

The lockdown in India has impacted the livelihoods of a large proportion of the country's nearly 40 million internal migrants. Around 50,000 60,000 moved from urban centers to rural areas of origin in the span of a few days, the bank said in a report released on Wednesday.

According to the report -- 'COVID-19 Crisis Through a Migration Lens' -- the magnitude of internal migration is about two-and-a-half times that of international migration.

Lockdowns, loss of employment, and social distancing prompted a chaotic and painful process of mass return for internal migrants in India and many countries in Latin America, it said.

Thus, the COVID-19 containment measures might have contributed to spreading the epidemic, the report said.

Governments need to address the challenges facing internal migrants by including them in health services and cash transfer and other social programmes, and protecting them from discrimination, it said.

World Bank said that coronavirus crisis has affected both international and internal migration in the South Asia region.

As the early phases of the crisis unfolded, many international migrants, especially from the Gulf countries, returned to countries such as India, Pakistan, and Bangladesh until travel restrictions halted these flows.

Some migrants had to be evacuated by governments, such as those of China and Iran, it said.

Before the coronavirus crisis, migrant outflows from the region were robust, the report said.

The number of recorded, primarily low-skilled emigrants from India and Pakistan rose in 2019 relative to the prior year but is expected to decline in 2020 due to the pandemic and oil price declines impacting the Gulf countries.

In India, the number of low-skilled emigrants seeking mandatory clearance for emigration rose slightly by eight percent to 368,048 in 2019.

In Pakistan, the number of emigrants jumped 63 per cent to 6,25,203 in 2019, largely due to a doubling of emigration to Saudi Arabia, it said.

According to the bank, migration flows are likely to fall, but the stock of international migrants may not decrease immediately, since migrants cannot return to their countries due to travel bans and disruption to transportation services.

In 2019, there were around 272 million international migrants.

The rate of voluntary return migration is likely to fall, except in the case of a few cross-border migration corridors in the South (such as Venezuela-Colombia, Nepal-India, Zimbabwe South Africa, Myanmar-Thailand), it said.

Migrant workers tend to be vulnerable to the loss of employment and wages during an economic crisis in their host country, more so than native-born workers.

Lockdowns in labour camps and dormitories can also increase the risk of contagion among migrant workers.

Many migrants have been stranded due to the suspension of transport services. Some host countries have granted visa extensions and temporary amnesty to migrant workers, and some have suspended the involuntary return of migrants, it said.

Observing that government policy responses to the COVID-19 crisis have largely excluded migrants and their families back home, the World Bank said there is a strong case for including migrants in the near-term health strategies of all countries, given the externalities associated with the health status of an entire population in the face of a highly contagious pandemic.

The Bank said governments would do well to consider short, medium and long-term interventions to support stranded migrants, remittance infrastructure, loss of subsistence income for families back home, and access to health, housing, education, and jobs for migrant workers in host/transit countries and their families back home.

The pandemic has also highlighted the global shortage of health professionals and an urgent need for global cooperation and long-term investments in medical training, it said.