Demonetisation had no effect on Indian economy: Nirmala Sitharaman

Agencies
July 2, 2019

New Delhi, Jul 2: Finance Minister Nirmala Sitharaman said economic growth is high on the agenda of the government and various reforms are being undertaken in many spheres to improve GDP growth.

India still continues to be the fastest growing economy and demonetisation has had no effect on the Indian economy, Finance Minister Nirmala Sitharaman told the Rajya Sabha on July 2.

The Minister, while responding to supplementaries during the Question Hour, said the manufacturing sector has had a certain fall, but it is not attributable to demonetisation.

She said economic growth is high on the agenda of the government and various reforms are being undertaken in many spheres to improve GDP growth.

Ms. Sitharaman said “the moderation in growth momentum in 2018-19 is primarily on account of lower growth in ‘Agriculture and allied’, ‘trade, hotel, transport, storage, communication and services related to broadcasting’ and ‘public administration and defence’ sectors.”

“If the impact of low growth in certain sectors has impacted growth rate, particularly in agriculture and allied activities as also in financial and real estate and professional services, there has been a fall, particularly in agriculture based on third advance estimates, it is believed that there has been a 0.6% decline in the output.

“If the impact on the low growth is because of outcomes from these sectors, the manufacturing sector has had a certain fall but which is not attributable to demonetisation,” the Minister said.

‘India growing at the fastest rate’

She said in the last quarter, there could have been a fall and steps have been taken to improve the economy.

“But, we are still the fastest growing economy,” she said.

Ms. Sitharaman said if the United States’ growth has grown between 1.6, 2.2, 2.9 and 2.3% in 2016, 2017, 2018 and 2019 respectively, and China’s growth has also decelerated from 6.7, 6.8, 6.6 and 6.3%, India is still well above 7% at 7.3% growth.

“While the concern of member is well taken about the last quarter’s growth having come down, it is still India which is growing at the fastest rate and the figures are before us,” she stressed in response to a query from a member.

The Minister said as regards steps taken, the government has taken several steps in order that more money goes to people and that is why the PM’s Kisan Samman Yojna, the Pension Yojna, where money goes directly through Direct Benefit Transfer (DBT) into the people’s hands, are activities through which people are getting the benefit.

“Over and above that, in order that institutions will have to extend more credit facilities for industry and for those entrepreneurs in the ground, the credit situation and also taking care of resolutional stressed assets through banks is also happening,” she said.

In her written reply, the Finance Minister said, as per estimates available from Central Statistics Office, growth of Gross Domestic Product (GDP) at constant prices was 6.8% in 2018-19, as compared to 7.2% in 2017-18 and 8.2% in 2016-17.

“Economic growth is high on the agenda of the government. Various reforms are being undertaken by the Government in many spheres to improve GDP growth. The key reforms in Governments new term include expansion to all farmers the cash transfer scheme ‘PM-Kisan’ providing an income support of ₹6,000 per year, which was earlier limited to farmers with a land holding of less than 2 hectares,” she said.

Along with this, the government has launched voluntary pension scheme for small and marginal farmers and small shopkeepers or retail traders, she claimed.

To give focused attention to issues of growth, Government has constituted a five-member Cabinet committee on investment and growth chaired by Prime Minister.

Comments

Sandesh Shetty
 - 
Wednesday, 3 Jul 2019

Those who put their money in Swiss bank wont feel any effect. Only poor, middle calss people suffered much. BJP, RSS people enjoyed that

Vinod
 - 
Wednesday, 3 Jul 2019

Another Feku's puppet. She is getting salary for spreading lies

Well Wisher
 - 
Wednesday, 3 Jul 2019

Dear Madam please. do not ever think the all Indians are stupid.

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News Network
March 12,2020

Geneva, Mar 12: For the global economy, virus repercussions were profound, with increasing concerns of wealth- and job-wrecking recessions. U.S. stocks wiped out more than all the gains from a huge rally a day earlier as Wall Street continued to reel.

The Dow Jones Industrial Average dropped 1,464 points, bringing it 20% below its record set last month and putting it in what Wall Street calls a “bear market.” The broader S&P 500 is just 1 percentage point away from falling into bear territory and bringing to an end one of the greatest runs in Wall Street’s history.

WHO officials said they thought long and hard about labeling the crisis a pandemic — defined as sustained outbreaks in multiple regions of the world.

The risk of employing the term, Ryan said, is “if people use it as an excuse to give up.” But the benefit is “potentially of galvanizing the world to fight.”

Underscoring the mounting challenge: soaring numbers in the U.S. and Europe’s status as the new epicenter of the pandemic. While Italy exceeds 12,000 cases and the United States has topped 1,300, China reported a record low of just 15 new cases Thursday and three-fourths of its infected patients have recovered.

China’s totals of 80,793 cases and 3,169 deaths are a shrinking portion of the world’s more than 126,000 infections and 4,600 deaths.

“If you want to be blunt, Europe is the new China,” said Robert Redfield, the head of the U.S. Centers for Disease Control and Prevention.

With 12,462 cases and 827 deaths, Italy said all shops and businesses except pharmacies and grocery stores would be closed beginning Thursday and designated billions in financial relief to cushion economic shocks in its latest efforts to adjust to the fast-evolving crisis that silenced the usually bustling heart of the Catholic faith, St. Peter’s Square.

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News Network
June 29,2020

New Delhi, Jun 29: India recorded 19,459 new coronavirus cases and 380 deaths in the last 24 hours.

According to the Ministry of Health and Family Welfare on Monday, the total coronavirus cases in the country stands at 5,48,318 including 2,10,120 active cases, 3,21,723 cured/discharged/migrated and 16,475 deaths.

Maharashtra's COVID-19 count touched 1,64,626 and cases in Delhi have reached 83,077.

The total number of samples tested up to 28 June is 83,98,362 of which 1,70,560 samples were tested yesterday, as per the data provided by the Indian Council of Medical Research (ICMR). 

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International New York Times
July 7,2020

The coronavirus can stay aloft for hours in tiny droplets in stagnant air, infecting people as they inhale, mounting scientific evidence suggests.

This risk is highest in crowded indoor spaces with poor ventilation, and may help explain superspreading events reported in meatpacking plants, churches and restaurants.

It’s unclear how often the virus is spread via these tiny droplets, or aerosols, compared with larger droplets that are expelled when a sick person coughs or sneezes, or transmitted through contact with contaminated surfaces, said Linsey Marr, an aerosol expert at Virginia Tech.

Follow latest updates on the Covid-19 pandemic here

Aerosols are released even when a person without symptoms exhales, talks or sings, according to Marr and more than 200 other experts, who have outlined the evidence in an open letter to the World Health Organization.

What is clear, they said, is that people should consider minimizing time indoors with people outside their families. Schools, nursing homes and businesses should consider adding powerful new air filters and ultraviolet lights that can kill airborne viruses.

What does it mean for a virus to be airborne?

For a virus to be airborne means that it can be carried through the air in a viable form. For most pathogens, this is a yes-no scenario. HIV, too delicate to survive outside the body, is not airborne. Measles is airborne, and dangerously so: It can survive in the air for up to two hours.

For the coronavirus, the definition has been more complicated. Experts agree that the virus does not travel long distances or remain viable outdoors. But evidence suggests it can traverse the length of a room and, in one set of experimental conditions, remain viable for perhaps three hours.

How are aerosols different from droplets?

Aerosols are droplets, droplets are aerosols — they do not differ except in size. Scientists sometimes refer to droplets fewer than 5 microns in diameter as aerosols. (By comparison, a red blood cell is about 5 microns in diameter; a human hair is about 50 microns wide.)

From the start of the pandemic, the WHO and other public health organizations have focused on the virus’s ability to spread through large droplets that are expelled when a symptomatic person coughs or sneezes.

These droplets are heavy, relatively speaking, and fall quickly to the floor or onto a surface that others might touch. This is why public health agencies have recommended maintaining a distance of at least 6 feet from others, and frequent hand washing.

But some experts have said for months that infected people also are releasing aerosols when they cough and sneeze. More important, they expel aerosols even when they breathe, talk or sing, especially with some exertion.

Scientists know now that people can spread the virus even in the absence of symptoms — without coughing or sneezing — and aerosols might explain that phenomenon.

Because aerosols are smaller, they contain much less virus than droplets do. But because they are lighter, they can linger in the air for hours, especially in the absence of fresh air. In a crowded indoor space, a single infected person can release enough aerosolized virus over time to infect many people, perhaps seeding a superspreader event.

For droplets to be responsible for that kind of spread, a single person would have to be within a few feet of all the other people, or to have contaminated an object that everyone else touched. All that seems unlikely to many experts: “I have to do too many mental gymnastics to explain those other routes of transmission compared to aerosol transmission, which is much simpler,” Marr said.

Can I stop worrying about physical distancing and washing my hands?

Physical distancing is still very important. The closer you are to an infected person, the more aerosols and droplets you may be exposed to. Washing your hands often is still a good idea.

What’s new is that those two things may not be enough. “We should be placing as much emphasis on masks and ventilation as we do with hand washing,” Marr said. “As far as we can tell, this is equally important, if not more important.”

Should I begin wearing a hospital-grade mask indoors? And how long is too long to stay indoors?

Health care workers may all need to wear N95 masks, which filter out most aerosols. At the moment, they are advised to do so only when engaged in certain medical procedures that are thought to produce aerosols.

For the rest of us, cloth face masks will still greatly reduce risk, as long as most people wear them. At home, when you’re with your own family or with roommates you know to be careful, masks are still not necessary. But it is a good idea to wear them in other indoor spaces, experts said.

As for how long is safe, that is frustratingly tough to answer. A lot depends on whether the room is too crowded to allow for a safe distance from others and whether there is fresh air circulating through the room.

What does airborne transmission mean for reopening schools and colleges?

This is a matter of intense debate. Many schools are poorly ventilated and are too poorly funded to invest in new filtration systems. “There is a huge vulnerability to infection transmission via aerosols in schools,” said Don Milton, an aerosol expert at the University of Maryland.

Most children younger than 12 seem to have only mild symptoms, if any, so elementary schools may get by. “So far, we don’t have evidence that elementary schools will be a problem, but the upper grades, I think, would be more likely to be a problem,” Milton said.

College dorms and classrooms are also cause for concern.

Milton said the government should think of long-term solutions for these problems. Having public schools closed “clogs up the whole economy, and it’s a major vulnerability,” he said.

“Until we understand how this is part of our national defense, and fund it appropriately, we’re going to remain extremely vulnerable to these kinds of biological threats.”

What are some things I can do to minimize the risks?

Do as much as you can outdoors. Despite the many photos of people at beaches, even a somewhat crowded beach, especially on a breezy day, is likely to be safer than a pub or an indoor restaurant with recycled air.

But even outdoors, wear a mask if you are likely to be close to others for an extended period.

When indoors, one simple thing people can do is to “open their windows and doors whenever possible,” Marr said. You can also upgrade the filters in your home air-conditioning systems, or adjust the settings to use more outdoor air rather than recirculated air.

Public buildings and businesses may want to invest in air purifiers and ultraviolet lights that can kill the virus. Despite their reputation, elevators may not be a big risk, Milton said, compared with public bathrooms or offices with stagnant air where you may spend a long time.

If none of those things are possible, try to minimize the time you spend in an indoor space, especially without a mask. The longer you spend inside, the greater the dose of virus you might inhale.

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