Am already 71; faced 13 elections so far... it’s time to retire: Siddaramaiah

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.

Dubai, Jul 5: Three Indians, who were repatriated on a chartered flight from the UAE on Friday, have been held in the state of Rajasthan after officials seized gold worth Dh2.2million from them, the government announced on Saturday.

They are likely to be placed under arrest along with 11 others, who were repatriated from Saudi Arabia, from whom gold worth Dh5.5million was seized, a statement from the government tweeted by Press Information Bureau in Rajasthan said.

The gold bars were hidden in emergency lamps, photos attached to the tweets showed.

The 14 passengers had arrived at the Jaipur International Airport by two chartered flights.

They were intercepted by the Customs team at the airport and 31.9kg of gold valued at Rs156,759,820 (Dh7.7million) concealed in the baggage was recovered from these passengers.

Three passengers arrived from Ras Al Khaimah by Spice Jet Flight SG9055 and 12 gold bars/bricks weighing 9.3kg valued at Rs.45,761,100 (Dh2.2million) were recovered from them, the statement said.

The Indian Consulate in Dubai confirmed to Gulf News that the flight was chartered by a private company for repatriating its employees.

It is suspected that the passengers were used as carriers to smuggle gold.

The other 11 accused had arrived from Riyadh and 22.65kg of gold bars, predominantly with Suisse markings, valued at Rs110,998,720 (Dh5.5million) were recovered from them.

“The said recovered gold bars have been seized under Section 110 of the Customs Act, 1962. The said passengers are being interrogated and are likely to be placed under arrest in terms of section 104 of the Customs Act, 1962,” the statement added.

Indian media had earlier reported similar cases in which stranded Indians were apparently lured to be carriers for smuggling gold on repatriation flights from various countries.

A spike in gold smuggling attempts using Indians getting repatriated after losing jobs was also reported from the Indian state of Kerala.

Bengaluru, Apr 9: A special task force--set up by the government of Karnataka--submitted a report to the Chief Minister of Karnataka BS Yediyurappa, putting forward recommendations suggesting minimisation of restrictions in districts where there is nil or minimum cases, here on Wednesday.

The committee said: "COVID-19 and non-COVID-19 patients should be segregated and online health services should be encouraged. Restrictions should be minimised in districts where there is nil or minimum cases of COVID-19 and lockdown should be continued in hotspot areas with quarantine measures strictly being implemented."

With regards to the testing of likely patient, the committee informed that rapid test kits would help to quarantine more likely patient. "The rapid test kits will arrive in April 12. These kits will boost our facility and would help us in quarantining the more people."

On the subject of lifting transportation ban, the committee suggested that the transport of goods and services must continue but with regards to passenger carriers, they are suspended till April 30.

"Goods and Transportation should be allowed, but passenger carriers should be banned until further orders. No buses, trains nor flights will be plying till April 30. No metro trains and auto-rickshaws should be allowed and an odd-even system transport system should be implemented," the committee added.

The committee also suggested that all industries, IT, BT and Garments should be made to work on 50 per cent strength. Garments workers should be allowed to stitch PPEs, which are in more demand. And for construction workers, the committee suggested that they should be allowed to work at sites at 50 per cent strength.

They suggested that educational institutions remain closed till May 30 and online classes must be encouraged.

Dr. Devi Shetty heads the Taskforce and Dr. C. N. Majunath, Dr. Nagaraj, Dr. Ravi and Sudharshan were also the part of the committee.

According to the Ministry of health and family welfare, 181 cases have been reported in the state so far. A total of 5,734 positive cases have been reported of which, 166 are dead and 473 are cured/discharged and migrated.