Sridevi was murdered, alleges Subramanian Swamy

New Delhi, Jan 20: Surging inflation and slowing growth are raising serious concerns about the future growth prospects of the economy and as a remedial measure the government should resolve supply-side hurdles and ensure more stringent governance norms, a report said on Monday.

According to the Dun and Bradstreet Economy forecast, even though the Index of Industrial Production (IIP) turned positive in November 2019, it is likely to remain subdued.

"Slowdown in consumption and investment along with high inflationary pressures, geopolitical issues and uncertainty over the recovery of the economic growth are likely to keep IIP subdued," the report noted.

Dun and Bradstreet expect IIP to remain around 1.5-2.0 percent during December 2019.

As per government data, industrial output grew 1.8 percent in November, turning positive after three months of contraction, on account of growth in the manufacturing sector.

On the price front, uneven rainfall along with floods in many states and geopolitical issues have led to a surge in headline inflation even as demand remains muted.

The Consumer Price Index (CPI) in December rose to about five-and-half year high of 7.35 percent from 5.54 percent in November, mainly driven by high vegetable prices.

"The sharp rise in inflation has constrained monetary policy stimulus while revenue shortfall has placed limits on the government expenditure," Dun & Bradstreet India Chief Economist Arun Singh said.

According to Singh, growth-supporting measures and deceleration in growth are likely to cause slippage in fiscal deficit target by a wider margin.

"The government should focus on taking small steps to address the slowdown; in particular, resolve the supply-side hurdles and ensure more stringent governance norms," Singh said.

Unless these concerns are addressed through a comprehensive policy framework, it will not be easy for India to clock a sustainable growth rate to become a USD 5 trillion economy, he added.

Golaghat, Jul 18: A total of 96 animals have died in the Kaziranga National Park in Golaghat district of Assam due to floods, the state government informed on Saturday.

"So far, 96 animals have died in the park including eight rhinos, seven wild boars, two swamp deers, 74 hog deer and two porcupines," park officials said.

A report from the government of Assam stated that a total of 132 animals had been rescued from the Kaziranga National Park. The park is currently 85 per cent submerged under floodwaters.

"Water level at Pasighar and Dibrugarh are below the prescribed danger level. The floodwater in Numaligarh, Dhansirimukh and Tezpur are still above danger level," the report stated.

At least 76 people have died and nearly 54 lakh people have been affected in 30 districts of Assam due to floods caused by the monsoon rains and the rise in water levels of the Brahmaputra river, informed the Assam State Disaster Management Authority (ASDMA) on Friday.