Celebrate I-Day and show us video proof: Yogi’s directive to madarsas

New Delhi, Jun 13: Ten days after recording two lakh COVID-19 cases, India surpassed the three lakh-mark on Saturday with the worst daily spike of 11,458 infections, while the death toll too climbed to 8,884 with 386 new fatalities, the Union Health Ministry said.

India took 64 days to cross the 1 lakh-mark from 100 cases, then in another fortnight it reached the grim milestone of two lakh cases. It has now become the fourth worst-hit nation by the pandemic with a caseload of 3,08,993, according to coronavirus statistics website Worldometer.

However, the Health Ministry said on Friday the doubling time of coronavirus cases has improved to 17.4 days from 15.4 days. And its data updated at 8 am on Saturday showed active cases at 1,45,779 and those who have recovered at 1,54,329; one patient has migrated.

"Thus, around 49.9 per cent patients have recovered so far," a ministry official said.

The total number of confirmed cases include foreigners.

Of the 386 new deaths, Delhi accounted for the highest 129 fatalities followed by Maharashtra 127. The virus is moving rapidly in Delhi, which for the first time reported over 2,000 cases on Friday, and Maharashtra, where the number of cases has crossed one lakh.

Gujarat reported 30 deaths, Uttar Pradesh 20, Tamil Nadu 18, West Bengal, Telangana and Madhya Pradesh 9 each, Karnataka and Rajasthan 7 each, Haryana and Uttarakhand 6 each, Punjab 4, Assam 2, Kerala, Jammu and Kashmir and Odisha 1 each.

Of the total 8,884 deaths, Maharashtra tops the tally with 3,717 fatalities followed by Gujarat with 1,415, Delhi with 1,214, West Bengal with 451, Madhya Pradesh with 440, Tamil Nadu with 367, Uttar Pradesh with 365, Rajasthan with 272 and Telangana with 174 deaths.

The death toll reached 80 in Andhra Pradesh, 79 in Karnataka, 70 in Haryana and 63 in Punjab. Jammu and Kashmir has reported 53 COVID-19 fatalities, Bihar 36 and Uttarakhand 21, Kerala 19, Odisha 10 and Jharkhand and Assam 8 each.

Chhattisgarh and Himachal Pradesh have registered 6 deaths each, Chandigarh 5, Puducherry 2, while Meghalaya, Tripura and Ladakh 1 each, according to the health ministry.

Maharashtra has reported the maximum number of cases at 1,01,141 followed by Tamil Nadu (40,698), Delhi (36,824), Gujarat (22,527), Uttar Pradesh (12,616), Rajasthan (12,068) and Madhya Pradesh (10,443).

The number of COVID-19 cases has gone up to 10,244 in West Bengal, 6,516 in Karnataka, 6,334 in Haryana and 6,103 in Bihar. It has risen to 5,680 in Andhra Pradesh, 4,730 in Jammu and Kashmir, 4,484 in Telangana and 3,498 in Odisha and Assam each.

Punjab has reported 2,986 cases while Kerala has 2,322 cases.

A total of 1,724 people have been infected by the virus in Uttarakhand, 1,617 in Jharkhand, 1,424 in Chhattisgarh, 961 in Tripura, 486 in Himachal Pradesh, 463 in Goa, 385 from Manipur and 334 in Chandigarh.

Ladakh has registered 239 COVID-19 cases, Puducherry 157, Nagaland 156, Mizoram 104, Arunachal Pradesh 67, Sikkim 63, Meghalaya 44 while Andaman and Nicobar Islands has registered 38 cases.

Dadar and Nagar Haveli and Daman and Diu together have reported 30 cases.

The ministry said 7,984 cases are being reassigned to states and "our figures are being reconciled with the ICMR". State-wise distribution is subject to further verification and reconciliation, it added.

New Delhi, Jan 29: The Janata Dal (United) today expelled its vice-president Prashant Kishor and senior leader Pavan Kumar accusing them of "anti-party" activities.

Both the leaders have been attacking the party leadership over its pro-CAA stand.

The spat between Nitish Kumar and Kishor was out in the open yesterday when the former reminded the political strategist that he was inducted into the party on the recommendation of Union home minister Amit Shah.

It all began when Nitish, while talking to the media here, said, “I don’t have any problem if he (Kishor) wants to leave the party. But if he wants to stay, then he will have to follow the basic structure of the party.”

Varma had also questioned the JDU's alliance with the BJP in Delhi Assembly polls while Kishor has more than once voiced his differences with the party known on the issue of CAA and NRC.
 

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.