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
May 7,2020

United Nations, May 7: An average of 80,000 COVID-19 cases were reported each day in April to the World Health Organization, the top UN health agency has said, noting that South Asian nations like India and Bangladesh are seeing a spike in the infections while the numbers are declining in regions such as Western Europe.

WHO Director-General Tedros Adhanom Ghebreyesus said on Wednesday that countries must also be able to manage any risk of the disease being imported into their territories, and communities should be fully educated to adjust to what will be a "new norm".

He said as the countries press forward in the common fight against COVID-19, they should also lay the groundwork for resilient health systems globally.

"More than 3.5 million cases of COVID-19 and almost 250,000 deaths have now been reported to the WHO. Since the beginning of April, an average of around 80,000 new cases have been reported to the WHO every day," Ghebreyesus said in Geneva yesterday.

Asserting that the virus cases were not just numbers, he said: "every single case is a mother, a father, a son, a daughter, a brother, sister or friend".

He said while the numbers are declining in Western Europe, more cases are being reported every day from Eastern Europe, Africa, South-East Asia, the Eastern Mediterranean and the Americas. Even within regions and within countries, there are divergent trends, the agency added.

While some countries are reporting an increase in COVID-19 cases over time, many have seen caseloads rise because they have ramped up testing, the WHO official said.

"We've also seen in Europe and Western Europe a fundamental decrease in the number of cases, but we have seen an associated increase in the number of cases reported in places like the Russian Federation. Southeast, the Western Pacific areas are relatively on the downward trend like Korea and others, but then we do see in South Asia, in places like Bangladesh, in India, some trends towards increase.

"So it's very difficult to say that any particular region is improving or (not improving). There are individual countries within each region that are having difficulties getting on top of this disease and I am particularly concerned about those countries that have (an) ongoing humanitarian crisis," WHO's Executive Director Michael Ryan said.

The death toll due to COVID-19 in India rose to 1,783 while the number of cases climbed to 52,952 on Thursday, registering an increase of 89 deaths and 3,561 cases in the last 24 hours, the Union Health Ministry said.

The number of active COVID-19 cases stood at 35,902 while 15,266 people have recovered, it said.

Noting that while seeing an increase in the number of cases is not good in terms of transmission, WHO's Emerging Diseases and Zoonoses Unit head Maria Van Kerkhove said: "but I don't want to equate that with something (being) wrong".

"I want to equate that with countries are working very hard to increase their ability to find the virus, to find people with the virus, to have testing in place to identify who has COVID-19, and putting into place what they need to do to care for those patients," Kerkhove said.

With more countries considering easing restrictions implemented to curb the spread of the coronavirus, the WHO has again reminded the authorities of the need to maintain vigilance.

"The risk of returning to lockdown remains very real if countries do not manage the transition extremely carefully, and in a phased approach," Ghebreyesus said.

He urged countries to consider the UN agency's six criteria for lifting stay-at-home measures.

That advice includes ensuring surveillance is strong, cases are declining and transmission is controlled. Health systems also must be able to detect, isolate, test and treat cases, and to trace all contacts.

Additionally, the risk of outbreak in settings such as health facilities and nursing homes needs to be minimised, while schools, workplaces and other public locations should have preventive measures in place.

"The COVID-19 pandemic will eventually recede, but there can be no going back to business as usual. We cannot continue to rush to fund panic but let preparedness go by the wayside," he said.

He said the crisis has highlighted the importance of strong national health systems as the foundation of global health security: not only against pandemics but also against the multitude of health threats that people across the world face every day.

"If we learn anything from COVID-19, it must be that investing in health now will save lives later," Ghebreyesus said.

While the world currently spends around USD 7.5 trillion on health annually, the WHO believes the best investments are in promoting health and preventing disease.

"Prevention is not only better than cure, it's cheaper, and the smartest thing to do," he said.

The deadly coronavirus, which originated from the Chinese city of Wuhan in December last year, has infected over 3.7 million people and killed 263,831 people globally, according to a tally by Johns Hopkins University.

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Agencies
May 17,2020

New Delhi, May 17: With the highest-ever spike of close to 5,000 cases in the past 24 hours, the COVID-19 count in India has crossed 90,000 on Sunday.

With an increase of 4,987 COVID-19 cases being reported in the last 24 hours, the count has reached 90,927, according to the Union Ministry of Health and Family Welfare.

The total number of active cases in the country stands at 53,946 today, while 2,872 deaths have been recorded due to the infection so far, with one patient having migrated. 120 deaths were reported in the last 24 hours.

However, on the positive side, close to 4,000 patients have also been cured and discharged in the past 24 hours, taking the tally of cured patients to 34,108.

With 30,706 confirmed cases, Maharashtra remains the worst-affected by the infection in the country.

It is followed by Gujarat and Tamil Nadu, with 10,988 and 10,585 cases, respectively.
The national capital, with 9,333 cases, is also one of the regions which is badly affected by the infection.

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Agencies
August 2,2020

New Delhi, Aug 2: BCCI president Sourav Ganguly on Sunday said the Women's IPL or the Challenger series, as it is better known, is "very much on", ending speculation about the parent body not having a plan for Harmanpreet Kaur and her team.

The men's IPL will be held between September 19 and November 8 or 10 (final date yet to be locked in) in the UAE due to the surge in Covid-19 cases in India. The women's IPL will also be fit in to the schedule, according to the BCCI chief.

"I can confirm to you that the women's IPL is very much on and we do have a plan in place for the national team also," Ganguly told PTI ahead of the IPL Governing Council meeting later on Sunday.

The BCCI president, who is awaiting a Supreme Court verdict on waiver of the cooling-off period to continue in the position, did not divulge details but another senior official privy to the development said that women's Challenger will be held during the last phase of IPL like last year.

"The women's Challenger series is likely to be held between November 1-10 and there could be a camp before that," the source said.

The former India captain also said that the centrally contracted women players will have a camp which has been delayed due to the prevailing situation in the country.

"We couldn't have exposed any of our cricketers -- be it male or female to health risk. It would have been dangerous," Ganguly said.

"The NCA also remained shut because of Covid-19. But we have a plan in place and we will have a camp for women, I can tell you that," he added.

The BCCI's cricket operations team is chalking up a schedule where Indian women are likely to have two full-fledged white-ball series against South Africa and the West Indies before playing the ODI World Cup in New Zealand. 

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