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The World Bank says that a lack of credit and drop in private consumption have led to a gloomy growth outlook for India with a steep cut in growth rate for the current fiscal year and only a modest gain projected for the next year.

India's growth rate is forecast to be only 5 per cent for the current fiscal year, weighed down by a growth of only 4.5 per cent in the July-September quarter, according to the 2020 Global Economic Prospects report released on Wednesday.

"In India, [economic] activity was constrained by insufficient credit availability, as well as by subdued private consumption," the Bank said.

The growth rate is forecast by the Bank to pick up to 5.8 per cent in the next fiscal year and to 6.1 per cent in 2021-22.

India's growth rate was 6.8 per cent in 2018-19.

The 5 per cent growth rate projection for the current financial year is a sharp cut of 2.5 per cent from the 7.5 per cent forecast made by the Bank in January last year, toppling it from the rank of the world's fastest growing economy.

India's performance follows a global trend of lowered growth weighed down by developed economies.

The report estimated world economic growth rate to be only 2.4 per cent last year and forecast it to edge up 0.1 per cent to 2.5 per cent in the current year.

Even with the lower growth rate of 5 per cent in the current fiscal year and 5.8 per cent forecast for the next, India holds the second rank among large economies, behind only China with an estimated growth rate of 6.1 per cent for 2019 and 5.9 per cent this year.

The report blamed "weak confidence, liquidity issues in the financial sector" and "weakness in credit from non-bank financial companies" for India's slowdown.

The Bank predicated India's recovery to 5.8 per cent in the coming financial year for India but "on the monetary policy stance remaining accommodative" and the assumption that "the stimulative fiscal and structural measures already taken will begin to pay off."

It also warned that sharper-than-expected slowdown in major external markets such as United States and Europe, would affect South Asia through trade, financial, and confidence channels, especially for countries with strong trade links to these economies."

The Bank said that the growth of advanced economies was 1.6 per cent last year and "is anticipated to slip to 1.4 per cent in 2020 in part due to continued softness in manufacturing."

In contrast the growth of emerging market and developing countries is expected to accelerate from 3.5 per cent last year to 4.1 per cent this year, the report said.

In South Asia, Bangladesh is estimated to have the highest growth rate of 7.2 per cent in the current fiscal year, although down from 8.1 per cent last fiscal year.

But its higher regional growth rates are coming off a lower base with a per capital gross domestic product of $1,698 compared to $2,010 for India.

Bangladesh is expected to grow by 7.3 per cent in the next financial year.

Pakistan's growth rate is estimated at only 2.4 per cent in the current fiscal year and is projected to rise to 3 per cent in the next, according to the Bank.

The Bank blamed monetary tightening in Pakistan for a sharp deceleration in fixed investment and a considerable softening in private consumption for the fall in growth rate from 3.3 per cent in the 2018-19 fiscal year.

Sri Lanka's growth rate was estimated to be 2.7 per cent last year and forecast to grow to 3.3 per cent this year.

Nepal grew by an estimated 6.4 per cent in the current fiscal year and will rise to 6.5 per cent in the next.

Dhaka, Jan 3: Bangladesh's paramilitary force chief said on Thursday that a total of 445 Bangladeshi nationals returned from India in last two months following the publication of the National Register of Citizens (NRC) by the Indian government.

Border Guard Bangladesh (BGB) Director General Maj Gen Md Shafeenul Islam disclosed the figure during a press briefing here.

"About 1,000 people were arrested in 2019 for illegal border crossings from India to Bangladesh, with 445 of them returning home in November and December," he said.

After verifying their identities through local representatives, BGB came to know that all the intruders are Bangladeshis, Islam said, adding that 253 cases were lodged against them for illegal trespass, while initial investigations found that at least three of them were human traffickers.

The BGB Director said the trespassing did not create any tension between the border forces of Bangladesh and India.

Last week, Islam visited India where he said that the creation of the NRC is completely an "internal affair" of India and the cooperation between the border guarding forces of the two countries is very good.

He said the BGB will continue to do its work of preventing illegal border crossings as per its mandate.

A BGB delegation, led by Islam, was on a bilateral visit to India to hold DG-level border talks with its counterparts, the Border Security Force (BSF).

The talks took place from December 26-29, during which a host of issues related to cross-border smuggling and activities of criminals and others along the 4,096-km-long front were discussed.

Responding to a question, Islam said, "No discussion was held at the conference over the (NRC) issue".

He said during the five-day talks held in New Delhi, the BGB demanded that the BSF should take effective steps to prevent killings of Bangladeshis on frontiers as casualty figures sharply rose in 2019.

"The number of border killings in 2019 was highest in the last four years. As per our calculation, the number of such unexpected deaths was 35," the BGB chief said.

However, the BSF estimate of the casualty figure is much lower than our calculation, he said.

Islam said the BSF is following the policy of maintaining maximum restraint and minimal use of force even after being attacked by "armed border offenders".

A statement issued by the BSF last month in New Delhi after the conclusion of the DG-level talks said, "On the concern of the BGB regarding the death of Bangladeshi nationals on borders, it was informed to them that a non-lethal weapon policy is strictly followed by BSF personnel on borders.

"Firing is resorted to only in self-defence, when BSF patrols are gheraoed and attacked by ‘dah’ (a sharp-edged weapon) etc. It was specified that the BSF does not discriminate between criminals based on nationality," it said.

New Delhi, Apr 20: The Centre on Monday said that India's COVID-19 doubling rate has improved to 7.5 days from 3.4 days before the lockdown was enforced to check the spread of the coronavirus.

"India's doubling rate before the lockdown was 3.4 days. It has now improved to 7.5 days. As per data on April 19, in 18 States, the rate is better than the national average," said Lav Agarwal, Joint Secretary, Union Health and Family Welfare Ministry, at a daily briefing here.

"The number of districts where no case has been reported in the last 14 days has increased to 59 in 23 States and UTs. Goa is now COVID-19 free," he said.

India's total number of coronavirus positive cases has risen to 17,656 including 14,255 active cases, 2,842 cured/discharged/migrated and 559 deaths, according to the Ministry of Health and Family Welfare.

"Mahe in Puducherry, Kodagu in Karnataka and Pauri Garhwal in Uttarakhand have not reported any COVID-19 case in last 28 days," said Agarwal.

Let us take a look at the top developments of the day regarding the COVID-19 situation in the country:

1. There are 23 active COVID-19 cases in Himachal Pradesh. 11 patients have recovered, four migrated out of the State and one person succumbed to the disease. A total of 2,902 people have been tested for COVID-19 so far, said Himachal Pradesh Health Department.

2. The number of COVID-19 cases has risen to 408 in Karnataka including 16 deaths and 112 discharges, according to the state Health Department. 18 new cases have been reported in the last 24 hours.

3. "14 new COVID-19 cases reported, all from Kashmir. The total number of cases now stands at 368, Jammu-55 and Kashmir-313," said Rohit Kansal, Principal Secretary, Planning, Union Territory of Jammu and Kashmir administration.

4. According to Punya Salila Srivastava, Joint Secretary, Ministry of Home Affairs, the Ministry wrote to Kerala government yesterday, expressing concerns over modified guidelines regarding lockdown. "Kerala has allowed some activities that violate the Ministry's instructions issued under the Disaster Management Act," she said.

5. Five more police personnel from Chandni Mahal police station have tested positive for COVID-19. Till now eight personnel from the police station have tested positive for the virus, according to the Delhi Police.

6. Total 57 new COVID19 cases and two deaths have been reported today. Cumulative positive cases now stand at 1,535, and toll at 25, said Rajasthan's Health Department.

7. Indian Council of Medical Research (ICMR) has said that RTPCR kits are US FDA approved and have good standards and these should be stored under 20-degree temperature for better result.

8. "A total of 283 more COVID-19 cases have been reported in Maharashtra, taking cumulative positive cases in the State to 4,483, as of 11 am today. Of the 283 new cases, Mumbai has recorded 187," said Rajesh Tope, Maharashtra Health Minister.

9. One new COVID-19 positive case was reported today in Bokaro, taking the total number of cases in the State to 42, said Nitin Madan Kulkarni, Jharkhand's Health Secretary.
10. According to Punjab's Health Department, only one person has been tested positive for COVID-19 in the State today. The person is a contact of the COVID-19 patient.

11. "There is only one red zone district in Chhattisgarh. For the last 72 hours, no COVID-19 positive patient has been found even in that red zone district. I am hoping that whole of Chhattisgarh will be green zone soon," said Chief Minister Bhupesh Baghel.

12. Six new COVID-19 cases were reported in Kerala, all from Kannur, of which 5 have foreign travel history. Total cases in the State at 408, including 114 active cases, said Kerala Chief Minister Pinarayi Vijayan.

Meanwhile, the Centre has constituted six Inter-Ministerial Central Teams (IMCTs), two each for West Bengal and Maharashtra and one each for Madhya Pradesh and Rajasthan to make an on-spot assessment of the situation and issue necessary directions to the state authorities for their redressal and submit a report to the Central government in the larger interest of the general public.