Blast in Afghan cricket stadium during Ramadan Cup; 8 killed, 45 wounded

New Delhi, Jan 21: With the IMF lowering India's economic growth estimate for the current fiscal to 4.8 per cent, senior Congress leader P Chidambaram on Tuesday claimed an attack on the world body and its chief economist Gita Gopinath by government ministers was imminent.

He also alleged that the growth figure of 4.8 per cent given by the International Monetary Fund (IMF) is after some "window dressing" and he won't be surprised if it goes even lower.

"Reality check from IMF. Growth in 2019-20 will be BELOW 5 per cent at 4.8 per cent," Chidambaram said in a series of tweets.

"Even the 4.8 per cent is after some window dressing. I will not be surprised if it goes even lower," the former finance minister said.

IMF Chief Economist Gopinath was one of the first to denounce demonetisation, he noted.

"I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath," Chidambaram said.

The IMF lowered India's economic growth estimate for the current fiscal to 4.8 per cent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.

In October, the IMF had pegged India economic growth at 6.1 per cent for 2019.

Listing decline in rural demand growth and an overall credit sluggishness for lowering of India forecasts, Gopinath, however, had said the growth momentum should improve next year due to factors like positive impact of corporate tax rate reduction.

New Delhi, Jun 23: In an unexpected development, the pump price of diesel is all set to surpass the petrol price in the capital, making it the most expensive transport fuel for the first time in a long time.

Globally, diesel is priced slightly above petrol prices due to the very nature of the product that has a higher cost of production. But in India, due to the lopsided taxation structure, diesel attracts lesser of the tax between the two auto fuels keeping its prices lower than petrol for last several years.

Diesel is currently priced at Rs 79.40 a litre in the Capital, just 36 paise short of petrol price that is being retailed at Rs 79.76 a litre. Going by the trend of price movement in the two products for the last few days where diesel prices have consistently increased by 50-60 paise per litre while the daily increase in petrol prices have fallen to just 20 paise on Tuesday, it is set to surpass petrol prices in next few days.

"Diesel price movement is sharper in international market and if oil companies follow the global price trend, diesel prices will surpass that of petrol later this week. It will be after many years that this would happen and is expected to sustain for some time unless government changes the tax structure of the petroleum products again," said an oil sector expert from one of the big four audit and advisory firms asking not to be named.

Interestingly, even in India the base price of diesel is expensive than petrol. According to the Indian Oil Corporation (IOC), while the base price of petrol in Delhi currently comes to Rs 22.11 per litre, the same for diesel is higher at Rs 22.93 per litre (effective from June 16, 2020). This has been the case for a long time, but retail price of petrol can be higher than diesel due to central and state taxes.

What has now brought diesel prices to a whisker of petrol prices in the capital is the Delhi government's decision early May to increase the Value Added Tax on diesel from 16.75 per cent to 30 per cent and on petrol from 27 per cent to 30 per cent. This increased the retail price of diesel and petrol in Delhi by Rs 7.10 and Rs 1.67 a litre respectively. With Central taxes on the two products already reaching identical levels, the Delhi governments move hastened price parity between petrol and diesel.

Currently, the Central excise on petrol is Rs 32.98 a litre while that on diesel it is Rs 31.83 a litre. The VAT on petrol in Delhi is Rs 17.71 a litre and that on diesel is Rs 17.60 a litre.

While the movement of retail pricing is being seen with a sigh of relief by vehicle owners whose cars run on petrol, those buying the relatively expensive diesel cars are now repenting on their decision. The development is also being seen with caution by automobile companies who have spent millions to ramp up their facilities for diesel run vehicles. The expectation is that demand for such cars will now fall, causing more damage to companies where sales are already impacted due to persistent economic slowdown and now the spread of COVID-19 pandemic.

"The pricing development would push automobile companies to strategies being followed by companies in the western markets where diesel run cars are not sold on fuel pricing differential, but on overall make and quality that puts them ahead of petrol run cars," the expert quoted earlier.

Yes, but for commercial vehicle sector the rising price of diesel had not been welcomed. In fact, the commercial transport sector had time an again threatened strike against the move to raise fuel prices.

With petrol and diesel retail prices closing, the case for adultering fuel has also gone down much to the relief of vehicle owners.

Rajkot, Jan 16: Skipper Virat Kohli is set to be back at his regular number three position after the strategy of coming two-down boomeranged in the lung-opener as India take on a resolute Australia in the must-win second ODI here on Friday.

India go into the game 0-1 down after Australia registered a 10-wicket win in the lung-opener at Mumbai, courtesy David Warner and Aaron Finch, who hit unbeaten hundreds.

In a bid to field all three in-form players -- Rohit Sharma, Shikhar Dhawan and KL Rahul --, Kohli dropped himself down the order but the plan backfired spectacularly as he was unable to convert his start.

Opener Dhawan later said he was ready to bat at number three if asked to by the team management, but since Kohli has been successful at that position, the skipper would be more than willing to walk in one-down.

Kohli batting at three also provides stability to the middle-order.

With a concussed Rishabh Pant out of the second game, Rahul is a certainty as he will keep wickets.

So, like in the last game, Rohit and Dhawan, who made a dogged 74 off 91 balls in Wankhede, could open, and there could be a toss-up between Rahul and young Shreyas Iyer at number four. Iyer had a rare failure on Tuesday.

Pant's absence could pave the way for the inclusion of Karnataka batsman Manish Pandey, who made optimum use of the opportunity that he got in the third T20 against Sri Lanka in Pune.

It would also be interesting to see which among the experienced Kedar Jadhav and rookie Shivam Dube makes the squad.

Rohit, who had a phenomenal 2019, failed in the first game, but given the form he is in, the opener is expected to bounce back strongly here.

Ditto for Kohli, who is just one hundred short of equalling cricket icon Sachin Tendulkar's record of most hundreds on home soil for India.

The bowlers led by Jasprit Bumrah had a forgettable outing at the Wankhede and they would be more than eager to make a strong comeback and prove their mettle.

Bumrah, since his comeback, has not been as effective as earlier and he would like to change the perception.

It would be interesting to see whether India play Delhi speedster Navdeep Saini or persist with Shardul Thakur, who gave away 43 runs in Mumbai.

Ravindra Jadeja looks a certainty and so the choice would be between chinaman Kuldeep Yadav, who conceded 55 runs in the first ODI and Yuzvendra Chahal as the lead spinner.

On the other hand, a high on confidence Australia will be looking to seal the issue to register back to back series wins in India, a rare feat for any visiting team. The Finch-Warner combination will look forward to carry the momentum.

Their middle-order comprising the experienced Steve Smith, in-form Marnus Labuschange, Ashton Turner and Alex Carey looks more or less settled.

If all of them fire in unison, along with the openers, then it will hard for the opposition bowlers.

However, it will be quite a test of their middle-order at the Saurashtra Cricket Association stadium.

Australian bowlers also showed at the Wankhede, why they are considered among the best.

Led by pace spearhead Mitchell Starc, they bundled out India for a sub-par 255 and Mitchell Starc and Pat Cummins would be raring to go once again.

Spinners Adam Zampa and Ashton Agar, not only contained the runs, but provided crucial breakthroughs and are expected to play a similar role again in the middle overs.

The track here is expected to be a belter and India can draw confidence from the home series against New Zealand in 2017, when they won 2-1 after losing the opener, co-incidentally in Mumbai.

Squads:

India: Virat Kohli (Captain), Rohit Sharma, Shikhar Dhawan, K L Rahul (wicketkeeper), Shreyas Iyer, Manish Pandey, Kedar Jadhav, Shivam Dube, Ravindra Jadeja, Yuzvendra Chahal, Kuldeep Yadav, Navdeep Saini, Jasprit Bumrah, Shardul Thakur and Mohammed Shami.

Australia: Aaron Finch (Captain), Alex Carey (Wicket-keeper), Patrick Cummins, Sean Abbott, Ashton Agar, Peter Handscomb, Josh Hazlewood, Marnus Labuschange, Kane Richardson, Steve Smith, Mitchell Starc, Ashton Turner, David Warner and Adam Zampa.

Match starts at 1.30.