Bollywood legend Sridevi passes away due to cardiac arrest in Dubai

Los Angeles, May 2: Pop diva Madonna has revealed that she has tested positive for the COVID-19 anitbodies.

The singer shared the news in the 14th edition of her “Quarantine Diary” on Instagram TV.

“Took a test the other day and I found out that I have the antibodies. So tomorrow I’m just going to go for a long drive in the car, and I’m gonna roll down the window and I’m gonna breathe in the COVID-19 air. Yup. I hope the sun is shining,” Madonna said.

According to Centers for Disease Control and Prevention (CDC), US, antibody tests are used to determine whether or not a person has been exposed to COVID-19 by finding proteins the body produces to fight the virus.

However, the CDC has yet to confirm if the possession of antibodies is equal to immunity.

Jaipur, Jan 24: Actor Sonali Bendre has said that she came into the movies to make money but fell in love with the profession where she discovered herself and found her family and friends. The 45-year-old actor said she owed a lot to Bollywood which is the most wonderful place to be, both mentally as well as creatively.

"I came into movies to make money and I fell in love with the profession. It was the most wonderful place to be, mentally and creatively," she said.

"I found myself there, found my friends and family over there. I owe a lot to Bollywood. It was one of the most wonderful things that happened to me," Sonali said here on Thursday.

The actor said her entry into movies by purely because she happened to be at the right place and at the right time.

Sonali added when acting offers came her way she knew that in no other field could she have made as much money, and as quickly, as she did in movies.

"Basically, I got into this because it was great money," she said.

The actor was speaking at the Jaipur Literature Festival and also talked about books and how her book club named ‘Sonali's Book Club' came into being.

Sonali, who has been convalescing after undergoing treatment for cancer in the US, said that books gave her strength and kept her afloat while she was going through one of the toughest phases of her life.

The actor was diagnosed with high grade cancer in July 2018 and underwent treatment for it in New York.

"Books were my friends other than my sisters while I was growing up. I'm nowhere remotely connected to movies. I have a very middle class Maharashtrian upbringing. When I got into movies, it was like being on another planet. Again in this world where it was easy to feel the peer pressure and do certain things or not do certain things, or look a certain way, books kept me grounded," she said.

"'A Gentleman in Moscow' (a 2016 novel by Amor Towles) was uplifting and I got so much strength from that book during my treatment in New York," Sonali said.

The actor, who often shares posts about books and authors on social media, said one should stop feeling guilty about not completing a book.

"Sometimes you start judging yourself by not completing a book, but I have reached a stage where I understand that I'm a book-lover, but that doesn't mean I will like all the books. It's okay if you don't like a book," she said.

Sonali also said that nobody wanted to know about the intellectual capacity of Bollywood stars as it was not "entertainment enough or gossipy enough".

Earlier before her session, Sonali launched author Ashwin Sanghi's latest book ‘The Vault of Vishnu', the sixth book in the Bharat series, at the 13th edition of the festival.

Feb 2: Prime Minister Narendra Modi’s second budget in seven months disappointed investors who were hoping for big-bang stimulus to revive growth in Asia’s third-largest economy.

The fiscal plan -- delivered by Finance Minister Nirmala Sitharaman on Saturday -- proposed tax cuts for individuals and wider deficit targets but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and create jobs. Stocks slumped as a proposal to scrap the dividend distribution tax for companies failed to impress investors.

"Far from being a game changer, the budget provides little in terms of short-term growth stimulus,” said Priyanka Kishore, head of India and South East Asia economics at Oxford Economics Ltd. in Singapore. “While income tax cuts will provide some relief on the consumption front, the multiplier effect is low and the overall stance of the budget is not expansionary."

India has gone from being the world’s fastest-growing major economy three years ago, expanding at 8%, to posting its weakest performance in more than a decade this fiscal year, estimated at 5%.

While the government has taken a number of steps in recent months to spur growth, they’ve fallen short of spurring demand in the consumption-driven economy. Saturday’s budget just added to the glum sentiment.

Okay Budget

“It’s an okay budget but not firing on all cylinders that the market was hoping for,” said Andrew Holland, chief executive officer at Avendus Capital Alternate Strategies in Mumbai.

The government had limited scope for a large stimulus given a huge shortfall in revenues in the current year. The slippage induced Sitharaman to invoke a never-used provision in fiscal laws, allowing the government to exceed the budget gap by 0.5 percentage points. The result: the deficit for the year ending March was widened to 3.8% of gross domestic product from a planned 3.3%.

On Friday, India’s chief economic adviser Krishnamurthy Subramanian said reviving economic growth was an “urgent priority” and deficit goals could be relaxed to achieve that. The adviser’s Economic Survey estimated growth will rebound to 6%-6.5% in the year starting April.

The fiscal gap will narrow to 3.5% next year, as the government budgeted for gross market borrowing to rise marginally to 7.8 trillion rupees from 7.1 trillion rupees in the current year. A plan to earn 2.1 trillion rupees by selling state-owned assets in the year starting April will also help plug the deficit.

Total spending in the coming fiscal year will increase to 30.4 trillion rupees, representing a 13% increase from the current year’s budget, according to latest data.

Key highlights from the budget:

* Tax on annual income up to 1.25 million rupees pared, with riders

* Dividend distribution tax to be levied on investors, instead of companies

* Farm sector budget raised 28%, transport infrastructure gets 7% more

* Spending on education raised 5%

* Fertilizer subsidy cut 10%

Analysts said the muted spending plan to keep the deficit in check will lead to more downside risks to growth in the coming months.

“It is very doubtful that the increase in expenditure will push demand much,” Chakravarthy Rangarajan, former governor at the Reserve Bank of India told BloombergQuint, adding that achieving next year’s budget deficit goal of 3.5% of GDP was doubtful.

With the government sticking to a conservative fiscal path, the focus will now turn to central bank, which is set to review monetary policy on Feb. 6. Given inflation has surged to a five-year high of 7.35%, the RBI is unlikely to lower interest rates.

What Bloomberg’s Economists Say:

The burden of recovery now falls solely on the Reserve Bank of India. With inflation breaching RBI’s target at present, any rate cuts by the central bank are likely to be delayed and contingent upon inflation falling below the upper end of its 2%-6% target range.

-- Abhishek Gupta, India economist

Governor Shaktikanta Das may instead focus on unconventional policy tools such as the Federal Reserve-style Operation Twist -- buying long-end debt while selling short-tenor bonds -- to keep borrowing costs down.