Sridevi was murdered, alleges Subramanian Swamy

New Delhi, Mar 26: The total number of people who have been confirmed positive for COVID-19 in India has risen to 649 in India, including 593 active cases and 42 people who have been cured or discharged from hospitals, according to the recent update by the Union Ministry of Health and Family Welfare (MoHFW) on Thursday morning.
The death toll due to the novel coronavirus in the country has reached 13, the official data reported. There have been 3 more deaths due to COVID-19 reported in the country since last evening.
An 85-year-old woman in Gujarat died yesterday while with the passing away of a 65-year-old woman, Madhya Pradesh reported its first COVID-19 death. Tamil Nadu also reported its first death in the state yesterday due to the deadly infection.
According to report from the Indian Council of Medical Research (ICMR) India had tested 24,254 people as of 8 p.m. on March 25.
The country is now in its second day of a 21-day lockdown that was announced by the Prime Minister Narendra Modi on Tuesday to deal with the spread of coronavirus, saying that "social distancing" is the only option to deal with the disease, which spreads rapidly.
The central government had on Wednesday announced that it will provide 7 kg ration to 80 crore people in India. The Centre also said that it has earmarked Rs 1.80 lakh crores for providing wheat at Rs 2 per kg and rice at Rs 3 per kg
"Union Cabinet has decided to provide wheat at Rs 2 per kg which is worth Rs 27 per kg and rice at Rs 3 per kg which is worth Rs 37 per kg. A total amount of Rs 1 lakh 80 thousand crores is being spent for the cause. The amount will be given in advance to the states for the coming 3 months," Union Minister Sadananda Gowda said yesterday.
Those shops which are catering to essential services will continue doing so during the 21-day nationwide lockdown.

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.

New Delhi, Feb 4: Senior BJP leader and Defence Minister Rajnath Singh on Monday accused Delhi's ruling Aam Aadmi Party of not implementing the central government's schemes in the national capital.

Addressing an election rally in Moti Bagh, he also sought to allay fears over the Citizenship Amendment Act (CAA), assuring the gathering that the legislation will not take away anyone's citizenship.

Singh alleged that the Chief Minister Arvind Kejriwal-led Delhi government did not do anything in the last five years.

The AAP had promised to add 5,000 buses to the fleet of the Delhi Transport Corporation (DTC), but instead the number has come down by 1,000, he claimed.

The Union minister said the AAP dispensation did not implement central schemes in Delhi fearing that the popularity of the Prime Minister Narendra Modi-led government will grow among Delhiites.

Pension schemes and the Centre's flagship health insurance scheme, Ayushman Bharat Yojana, are some of those that the Kejriwal government did not allow to be implemented in Delhi.

On the anti-CAA protests, Singh said that the opposition parties have been spreading "lies" about amended citizenship law and the National Population Register (NPR).

"The CAA will not take away anyone's citizenship. The opposition parties are spreading lies about the CAA. There should be no such politics over this. Some people are trying to write the history of the country with the ink of hatred," he said.

The culture of India is such that it considers the entire world one family, he said.

Delhi goes to polls on February 8. The results will be declared on February 11.