Cleric arrested with live bullet at Arvind Kejriwal's residence

Mar 21: India’s economy, already in the grip of a slowdown, is in for more pain after Prime Minister Narendra Modi appealed to citizens to stay at and work from home to curb the coronavirus outbreak.

The services sector, which accounts for about 55% of India’s gross domestic product, is poised to be the worst hit after Modi, in a late evening address on Thursday, urged citizens to go on a self-imposed curfew for a day and private companies to allow employees to work from home for longer. In the country’s vast informal sector, social-distancing measures could mean a dent to productivity and consumption because of job or pay losses.

“The impact of a partial lock-down or social distancing will be significant,” said Rahul Bajoria, a senior economist at Barclays Plc in Mumbai. “If there’s a widespread community outbreak, GDP could fall as low as 3.5% in the year starting April 1.”

Shrinking output may limit growth in an economy that’s already set to expand at an 11-year low of 5% in the current year to March 31. Before the virus outbreak, India had forecast growth to recover to 6%-6.5% in the next fiscal year. S&P Global Ratings and Fitch Ratings have already slashed their growth forecast by 50 basis points.

“The current social-distancing measures will severely impact airlines, hotels, malls, multiplexes, restaurants and retailers,” according to analysts at Crisil Ltd., the local unit of S&P Global. “Lower footfalls and occupancies, decline in business volume and sub-optimal operating efficiencies will impact cash flows of companies in these sectors,” wrote the analysts led by Chief Economist Dharmakirti Joshi.

The government will try to announce a relief package for virus-affected sectors as early as possible, Finance Minister Nirmala Sitharaman said Friday.

In a televised address, Modi advised all citizens to stay at home for a day on March 22, as he sought to stem the spread of the coronavirus -- cases of which are relatively low in India at about 200, compared with more than 200,000 infected people globally. His government also barred incoming flights for a week from that day, joining a growing list of countries effectively sealing their borders.

What Bloomberg’s Economists Say

We had only earlier this week lowered our GDP outlook to consider the direct impact of the local outbreak as confirmed virus cases exceeded 100 as of March 15 and the federal and state governments announced social distancing measures that have already started to crimp economic activity. We are now revising down our GDP estimate for 4Q fiscal 2020 to 3.3%, from our 3.5%.

-- Abhishek Gupta, India economist

For more, click here

“Consumption being the biggest component of GDP, a lock-down is bound to have a big impact on the economy,” said Devendra Kumar Pant, chief economist at India Ratings and Research, the local unit of Fitch. “Modeling uncertainty in any system will be very difficult, but one can say the slowdown could deepen or prolong further.”

Work From Home

While companies, including billionaire Mukesh Ambani-controlled Reliance Industries Ltd., are asking employees to work from home, the option isn’t feasible in India’s vast informal sector.

“The option to work remotely simply won’t exist for most,” said Shilan Shah, an economist with Capital Economics Pte. in Singapore.

As many households don’t have savings buffers, the government would probably have to back this up with large-scale cash handouts that reach the poorest, he said.

Work from home is posing implementation challenges for the manufacturing sector where workers are required to be physically present at the production sites. The services sector, such as banking and information technology, also needs employees to be present in offices as confidential data is used, according to industry group Federation of Indian Chambers of Commerce and Industry.

Mumbai, Mar 4: BJP leader Devendra Fadnavis on Tuesday said Maharashtra Chief Minister Uddhav Thackeray should not give "vague" replies on the 5 per cent Muslim quota issue and declare "with courage" that his government will not bring law granting reservation to the minority community.

Mr Fadnavis made the remark after Mr Thackeray, during a press conference earlier in the day, said he has not yet received the proposal regarding giving quota to Muslims and that the Shiv Sena-led government is yet to take any decision on it.

Mr Thackeray made the comments after Maharashtra Minority Affairs Minister Nawab Malik recently said in the legislative council that thestate government will provide 5 per cent quota to Muslims in education.

Mr Malik, an NCP leader, had also said the state government will ensure that a legislation to this effect is passed soon.

The NCP and the Congress, both proponents of Muslim quota, are constituents of the Sena-led Maha Vikas Aghadi government.

Asked about Mr Thackeray's remarks on the issue, Mr Fadnavis said instead of making comments at the press conference, the chief minister should make a statement in the legislature which is currently having its budget session.

The Leader of the Opposition in the assembly said that Mr Malik's opinion is the official position of the government as the minister had talked about giving quota in the council.

"So, instead of making vague comments in the press conference, the chief minister should say in the council that it is not his view (the one expressed by chief minister).

"The chief minister gave vague answers during the press conference, saying the proposal has not come to him. Your minister (Malik) only has said it," Mr Fadnavis told reporters outside the legislature building complex.

The BJP leader maintained there is no provision in the Constitution for religion-based reservation in government jobs or education.

"Say with courage that you will not give the quota, that the Constitution doesn't accept quota based on religion. Hence, we (the government) will not bring law granting quota," the former Chief Minister said.

Mr Fadnavis claimed that if given within the 50 per cent ceiling set by the Supreme Court, the Muslim quota will affect the existing reservation granted to OBCs.

"And if given outside it, it will affect Maratha quota," he added.

New Delhi, Feb 5: Delhi High Court on Wednesday stated that that death warrant of all convicts in the Nirbhaya gangrape and murder case should be executed together.

The Delhi prison rules do not state whether when the mercy petition of one convict is pending, the execution of the other convicts can take place and from the trial court to Supreme Court all convicts have been held by a common order and a common judgment, Justice Suresh Kumar Kait observed while passing the order.

High Court dismissed the Central government and Tihar Jail authorities plea challenging the Patiala House court's order, which stayed the execution of the four convicts in the case. It also observed that the convicts indulged in a heinous offence of a bone-chilling rape and murder of a girl and that criminal appeals by all convicts were dismissed by the courts.

Moreover, the court observed that the review petitions were filed after long wait and convicts are taking shelter of Article 21 which is available to them till their last breath.

A single-judge bench of Justice Suresh Kumar Kait had on Sunday kept the order reserved in the matter after special hearing of two days.

Earlier, Solicitor General Tushar Mehta, appearing on behalf of the Centre, alleged that the convicts were deliberately delaying the execution, adding that any delay in death sentence will have a dehumanising effect on the convicts.

A Delhi court last week stayed till further orders the execution of the four convicts -- Akshay Thakur, Mukesh Singh, Pawan Gupta, and Vinay Sharma -- which was earlier scheduled to take place on February 1.

The case pertains to the gang-rape and brutal murder of a 23-year-old paramedical student in a moving bus on the night of December 16, 2012, by six people, including a juvenile, in Delhi. The woman had died at a Singapore hospital a few days later.

One of the five adults accused, Ram Singh, had allegedly committed suicide in the Tihar Jail during the trial of the case.