Angela Merkel in Bengaluru, PM Modi to join her

Mumbai, Mar 27: Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that Monetary Policy Committee (MPC) has taken note of the global economic activity coming to a near standstill due to the coronavirus pandemic and added that large parts of the world could slip into recession in the coming days to the coronavirus crisis.
"The MPC noted that global economic activity has come to a near stand-still as COVID-19 related lockdowns and social distancing are imposed across a widening swath of affected countries. Expectations of a shallow recovery in 2020, from 2019's decade low in global growth, have been dashed," Das said.
"The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the world will slip into recession," he added.
The RBI Governor further added that "the implied GDP growth of 4.7 per cent in Quarter 4 of 2019-20, in the second advance estimates of the National Statistics Office which was released in February 2020, within the annual estimate of 5 per cent for the year as a whole is now at risk."
As per the outlook for the year 2020-21, Das said, "Apart from continuing resilience of agriculture and allied activities most other sectors of the economy will be adversely impacted by the pandemic depending upon, its intensity, spread and duration."
Das also announced a reduction in the repo and reverse repo rates for banks.
"The repo rate has been reduced by 75 basis points to 4.4 per cent. The reserve repo rate has been reduced by 90 basis points to 4 per cent," Das said addressing the media.
The decision for "a sizeable reduction" in the policy repo rate, according to the RBI Governor was taken to "revive growth and mitigate the impact of COVID-19 and ensure financial stability." 

New Delhi, May 4: Rebutting the Congress' criticism, the BJP said on Monday that the railways has subsidised 85 per cent of ticket fare for special trains being run for migrant workers and the state governments have to pay the remaining 15 per cent.

The ruling party also accused the Congress of promoting indiscriminate movement of people which, it said, would lead to "faster spread" of coronavirus infection "just like we saw in Italy", and asked if this is what Sonia Gandhi wants.

The counter-charge from BJP leaders, including its spokesperson Sambit Patra and information technology department in-charge Amit Malviya, came after Congress president Sonia Gandhi hit out at the central government for making migrants pay for their train fare and asked her party's state units to pick the tab.

Congress leader Rahul Gandhi also took a swipe at the railways, saying, on one hand, it is seeking ticket fare from people stranded in various states while on the other it is donating Rs 151 crore to the PM-CARES Fund.

Responding to him, Patra said, "Rahul Gandhi ji, I have attached guidelines of MHA which clearly state that 'No tickets to be sold at any station'. Railways has subsidised 85% & state govt to pay 15%. The state govt can pay for the tickets (Madhya Pradesh's BJP govt is paying). Ask Cong state govts to follow suit," Patra tweeted.

The BJP leader further clarified that for each 'Shramik Express', special trains being run for migrants to take them back to their native places during the lockdown, about 1,200 tickets to the destination are handed by the railways to the state government concerned.

State governments are supposed to clear the ticket price and hand over the tickets to workers, he said.

He said the BJP government in Madhya Pradesh is doing so and asked Rahul Gandhi to tell the Congress-ruled states to follow suit.

Hitting out at Sonia Gandhi, Malviya tweeted, "Congress is obviously upset at how well India has handled Covid. They would have ideally wanted a lot more people to suffer and die. Promoting indiscriminate movement of people would lead to faster spread of infection, just like we saw in Italy. Is this what Sonia Gandhi wants?"

BJP MP Subramanian Swamy claimed that migrant workers returning home will not have to pay money as the rail travel will be free from now onwards.

"Talked to Piyush Goyal office. Govt will pay 85% and State Govt 15%. Migrant labour will go free. Ministry will clarify with an official statement," he tweeted.

BJP Congress Coronavirus COVID-19 Coronavirus lockdown Italy Sonia Gandhi Rahul Gandhi Sambit Patra Amit Malviya Subramanian Swamy Piyush Goyal

New Delhi, Apr 19: The government on Sunday prohibited the sale of non-essential items through e-commerce platforms during the ongoing lockdown, four days after allowing such companies to sale mobile phones, refrigerators and ready-made garments.

Union Home Secretary Ajay Bhalla issued an order excluding the non-essential items from sale by the e-commerce companies from the consolidated revised guidelines, which listed the exemption given to the services and people from the purview of the lockdown.

The order said the following clause "E-commerce companies. Vehicles used by e-commerce operators will be allowed to ply with necessary permissions" is excluded from the guidelines.

The previous order had said such items were allowed for sale through e-commerce platforms from April 20.

However, the reason for reversing the order is not known immediately.