Clouds do prevent radars from detecting accurately: Air Marshal Raghunath Nambiar

New Delhi, Feb 29: India’s economy expanded at its slowest pace in more than six years in the last three months of 2019, with analysts predicting further deceleration as the global Covid 19 coronavirus outbreak stifles growth in Asia’s third-largest economy.

The gross domestic product (GDP) data released yesterday showed government spending, private investment and exports slowing down, while there is a slight upturn in consumer spending and improvement in rural demand lent support.

The quarterly figure of 4.7% growth matched the consensus in a Reuters poll of analysts but was below a revised - and greatly increased - 5.1% rate for the previous quarter.

The central bank has warned that downside risks to global growth have increased as a result of the coronavirus epidemic, the full effects of which are still unfolding.

Prime minister Narendra Modi’s government has taken several steps to bolster economic growth, including a privatisation push and increased state spending, after cutting corporate tax rates last September.

In its annual budget presented this month, the government estimated that annual economic growth in the financial year to March 31 would be 5%, its lowest for last 11 years.

Modi’s government is targeting a slight recovery in growth to 6% for 2020/21, still far below the level needed to generate jobs for millions of young Indians entering the labour market each month.

The annual GDP figure for the September quarter was ramped up from an earlier estimate of 4.5%, while the April-June reading was similarly lifted to 5.6% from 5%, data released by the Ministry of Statistics showed on Friday.

Capital Investment Drop

In the December quarter, private investment grew 5.9%, up from 5.6% in the previous quarter, while government spending rose by 11.8%, against 13.2% in the previous three months.

However, corporate capital investment contracted by 5.2% after a 4.1% decline in the previous quarter, indicating that interest rate cuts by the central bank have failed to encourage new investment. Manufacturing, meanwhile, contracted by 0.2%.

“It appears growth slowdown is not just cyclical but more entrenched with consumption secularly joining the slowdown bandwagon even as the investment story continues to languish,” said Madhavi Arora of Edelweiss Securities in Mumbai.

Many economists said that the government stimulus could take four to six quarters of time before lifting the economy and the impact of those efforts could be outweighed by the global fallout from the coronavirus epidemic that began in China.

“The coronavirus remains the critical risk as India depends on China for both demand and supply of inputs,” said Abheek Barua, chief economist at HDFC Bank.

Indian shares sank on Friday for a sixth session running, capping their worst week in more than a decade. The NSE Nifty 50 index shed 7.3% over the week, while the Sensex dropped 6.8%, the worst weekly declines since the 2008-09 financial crisis.

Separately, India’s infrastructure output rose 2.2% year on year in January, data showed on Friday.

A spike in inflation to a more than 5-1/2 year high of 7.59% in January is expected to make the RBI hold off from further cuts to interest rates for now, while keeping its monetary stance accommodative.

New Delhi, Jul 26: Nidan Singh Sachdeva, the Afghan Sikh who was kidnapped a month ago and released recently, arrived here earlier in the day and narrated the ordeals that he faced at the hands of abductors and also thanked the Indian government for bringing him back to his 'motherland'.

Facing threats from Pakistan-backed Taliban, eleven members of Sikh community from Afghanistan, who were granted short-term visas by Indian Embassy in Kabul, including Sachdeva, who was abducted from a gurudwara in Paktia province last month, touched down in New Delhi on Sunday afternoon.

Speaking to news agency on his return, an emotional Sachdeva, said, "I don't know what to call Hindustan -- whether it is my mother or my father -- Hindustan is Hindustan."

"I was abducted from the gurudwara and 20 hours later, I was covered with blood. I was tied to a tree as well. They used to beat me and ask me to convert into a Muslim. I repeatedly told them that why should I convert, I have my own religion," he said while describing
Nidan Singh thanked Government of India for bringing him here.

"I am more than thankful to the Indian government for bringing us here to our motherland. I have no words to describe my feelings here. I arrived here after much struggle. The atmosphere of fear prevails there.

Gurudwara is where we can be safe but a step outside the Gurdwara is fearful," he said.
"They used to beat me every day and every night," he said further and added, "It is because of sheer happiness, I am speechless. I am very grateful to them."

Ministry of External Affairs recently announced that India has decided to facilitate the return of Afghan Hindu and Sikh community members facing security threats in Afghanistan to India.
The decision comes four months after a terror attack at a gurdwara in Kabul's Shor Bazaar killed at least 25 members of the community.

India has condemned the "targeting and persecution" of minority community members by terrorists in Afghanistan at the behest of their external supporters remains a matter of grave concern.

Leaders of the Afghan Sikh community have appealed to the Indian government to accommodate the Sikhs and Hindus from Afghanistan and grant them legal entry with long term residency multiple entry visas.

Once a community of nearly 250,000 people, the Sikh and Hindu community in Afghanistan has endured years of discrimination and violence from extremists, and the community is now estimated to comprise fewer than 100 families across the country.

Lukung, Jul 17: Union Defence Minister Rajnath Singh on Friday assured that not an inch of our land can be taken by any power in the world while he interacted with the Indian Army and ITBP personnel at Lukung.

Referring to the India-China border standoff, he said, "Talks are underway to resolve the border dispute but to what extent it can be resolved I cannot guarantee. I can assure you, not one inch of our land can be taken by any power in the world."

Emphasising on finding a diplomatic solution to the standoff, he further said, "If a solution can be found by talks, there is nothing better."
"Recently what happened between troops of India and China at PP14, how some of our personnel sacrificed their lives protecting our border. I am happy to meet you all but also saddened because of their loss. I pay my tributes to them," he added.

Singh interacted with the Army and Paramilitary troops here along with Chief of Defence Staff General Bipin Rawat and Army Chief General MM Naravane.

Earlier today, the Defence Minister witnessed para dropping and scoping weapons here. He also inspected a Pika machine gun.

Indian Army T-90 tanks and BMP infantry combat vehicles carried out the exercise at Stakna, Leh in presence of Singh, Chief of Defence Staff and Army Chief.

Defence Minister is on a two-day visit to Ladakh and Jammu and Kashmir. He will take stock of the situation at both the Line of Actual Control (LAC) and the Line of Control (LOC).

While Pakistan constantly violates ceasefire from across the LoC, China has continued to intrude into Indian territory in Ladakh region in recent past, escalating tensions between India and its eastern neighbour.

On June 15, twenty Indian soldiers laid out their lives during combat with Chinese forces in Galwan valley, leading to tensions between both nations. Chinese soldiers subsequently started moving back following dialogues between two countries through the military level and diplomatic level.

Singh was accompanied by the Chief of Defence Staff General Bipin Rawat and Army Chief General MM Naravane.