Here's the first phase flight plan for return of Indian nationals stranded abroad

Bengaluru, Mar 19: Karnataka High Court on Wednesday rejected the plea by Congress leader Digvijay Singh seeking directions to the police to allow him to meet rebel Madhya Pradesh Congress MLAs who are lodged in Bengaluru.

Earlier in the day, Singh said at a press conference, "I have filed a plea in the Karnataka High Court, seeking permission to meet Madhya Pradesh Congress MLAs who are putting up at Bengaluru. I have decided to be on fast and shall take a call on that after the decision of the Supreme Court and the High Court," Singh said at a press conference here earlier.

Singh said, "The BJP is busy in toppling duly-elected governments. We had successfully thwarted their plans to destabilise the MP government but we were let down by Jyotiraditya Scindia who had a very successful career in Congress."

"We never expected that he would ditch us and join hands with the BJP," he added.

The Congress leader also said that the BJP government had become insecure since the Kamal Nath-led government started tightening the laws on mining.

"Chief Minister Kamal Nath drafted a new mining policy for the sand under which the mines were allotted through auction. All this was unpalatable to the BJP and from Day 1 they started offering money to our Congress legislators," he said.

"In BJP, the Atal Bihari Vajpayee's kind of leadership no longer exists. The leadership which controls the BJP now includes people who have joined hands to do all kinds of unscrupulous things which has led to a stage in India where the banks are collapsing, non-performing assets and unemployment are growing," he added.

Earlier today, he was put under preventive arrest after he sat on a dharna near Ramada Hotel here allegedly for not being allowed to meet the 21 rebel Congress MLAs lodged in the hotel.

Bengaluru, Apr 7: Former Minister and Leader of the Opposition Siddaramiah on Tuesday termed the shutting by private clinics in the state by doctors as an 'inhuman act'.

Taking to micro-blogging site Twitter, the Congress leader said due to the fear of Novel Coronavirus, the doctors have closed their private clinics, which was against their profession.

This has affected the people, especially those, who are suffering from other deceases. He urged Chief Minister B S Yediyurappa to intervene and resolve the issue immediately.

Despite the government instructions not to close down their clinics, the doctors have not been responding positively, Mr Siddaramaiah noted.

In this connection, the government should act seriously and give necessary warning to the doctors, to either open their clinics to serve the people, or face action, he added.

Feb 2: Prime Minister Narendra Modi’s second budget in seven months disappointed investors who were hoping for big-bang stimulus to revive growth in Asia’s third-largest economy.

The fiscal plan -- delivered by Finance Minister Nirmala Sitharaman on Saturday -- proposed tax cuts for individuals and wider deficit targets but failed to provide specific steps to fix a struggling financial sector, improve infrastructure and create jobs. Stocks slumped as a proposal to scrap the dividend distribution tax for companies failed to impress investors.

"Far from being a game changer, the budget provides little in terms of short-term growth stimulus,” said Priyanka Kishore, head of India and South East Asia economics at Oxford Economics Ltd. in Singapore. “While income tax cuts will provide some relief on the consumption front, the multiplier effect is low and the overall stance of the budget is not expansionary."

India has gone from being the world’s fastest-growing major economy three years ago, expanding at 8%, to posting its weakest performance in more than a decade this fiscal year, estimated at 5%.

While the government has taken a number of steps in recent months to spur growth, they’ve fallen short of spurring demand in the consumption-driven economy. Saturday’s budget just added to the glum sentiment.

Okay Budget

“It’s an okay budget but not firing on all cylinders that the market was hoping for,” said Andrew Holland, chief executive officer at Avendus Capital Alternate Strategies in Mumbai.

The government had limited scope for a large stimulus given a huge shortfall in revenues in the current year. The slippage induced Sitharaman to invoke a never-used provision in fiscal laws, allowing the government to exceed the budget gap by 0.5 percentage points. The result: the deficit for the year ending March was widened to 3.8% of gross domestic product from a planned 3.3%.

On Friday, India’s chief economic adviser Krishnamurthy Subramanian said reviving economic growth was an “urgent priority” and deficit goals could be relaxed to achieve that. The adviser’s Economic Survey estimated growth will rebound to 6%-6.5% in the year starting April.

The fiscal gap will narrow to 3.5% next year, as the government budgeted for gross market borrowing to rise marginally to 7.8 trillion rupees from 7.1 trillion rupees in the current year. A plan to earn 2.1 trillion rupees by selling state-owned assets in the year starting April will also help plug the deficit.

Total spending in the coming fiscal year will increase to 30.4 trillion rupees, representing a 13% increase from the current year’s budget, according to latest data.

Key highlights from the budget:

* Tax on annual income up to 1.25 million rupees pared, with riders

* Dividend distribution tax to be levied on investors, instead of companies

* Farm sector budget raised 28%, transport infrastructure gets 7% more

* Spending on education raised 5%

* Fertilizer subsidy cut 10%

Analysts said the muted spending plan to keep the deficit in check will lead to more downside risks to growth in the coming months.

“It is very doubtful that the increase in expenditure will push demand much,” Chakravarthy Rangarajan, former governor at the Reserve Bank of India told BloombergQuint, adding that achieving next year’s budget deficit goal of 3.5% of GDP was doubtful.

With the government sticking to a conservative fiscal path, the focus will now turn to central bank, which is set to review monetary policy on Feb. 6. Given inflation has surged to a five-year high of 7.35%, the RBI is unlikely to lower interest rates.

What Bloomberg’s Economists Say:

The burden of recovery now falls solely on the Reserve Bank of India. With inflation breaching RBI’s target at present, any rate cuts by the central bank are likely to be delayed and contingent upon inflation falling below the upper end of its 2%-6% target range.

-- Abhishek Gupta, India economist

Governor Shaktikanta Das may instead focus on unconventional policy tools such as the Federal Reserve-style Operation Twist -- buying long-end debt while selling short-tenor bonds -- to keep borrowing costs down.