Mar 4: Prime Minister Narendra Modi said on Wednesday that he has decided not to participate in any 'Holi Milan' programme as experts have advised reducing mass gatherings to avoid the spread of coronavirus.
"Experts across the world have advised reducing mass gatherings to avoid the spread of COVID19 Novel Coronavirus. Hence this year, I have decided not to participate in any 'Holi Milan' programme," the PM tweeted.
This year, Holi is on March 10.
New Delhi, Jun 22: India's COVID-19 cases per lakh people is one of the lowest in the world despite its high population density, and the recovery rate has now reached almost 56 per cent, the Union Health Ministry said on Monday.
For every one lakh population, there are 30.04 coronavirus cases in India, while the global average is over three times at 114.67, the ministry said, referring to the WHO Situation Report 153, dated June 21.
This low figure is thus a testimony to the graded, pre-emptive and pro-active approach the Government of India along with the states and UTs took for prevention, containment and management of COVID-19," the ministry said in a statement.
Citing the WHO Situation Report, the ministry said the US has 671.24 cases per lakh population, while Germany, Spain, Brazil and the UK have 583.88, 526.22, 489.42 and 448.86 cases per lakh population, respectively.
It said Russia has 400.82 cases per lakh people, while Italy, Canada, Iran and Turkey have 393.52, 268.98, 242.82 and 223.53, respectively.
Coming back to India, as on Monday morning, the total number of coronavirus cases stood at 4,25,282 and the death toll at 13,699, according to figures issued by the ministry.
In its update issued at 8 AM Monday, the ministry said 9,440 COVID-19 patients recovered in the last 24 hours, taking the total number of recoveries to 2,37,195, a recovery rate of 55.77 per cent.
Presently, there are 1,74,387 active cases and all are under medical supervision, it said.
"The difference between the recovered patients and the active COVID-19 cases continues to widen. Today, the number of recovered patients has crossed the number of active patients by 62,808," the ministry said.
The COVID-19 testing infrastructure is continuously being ramped up and number of government labs has been increased to 723 and the private labs to 262, adding up to a total of 985, it said.
According to the Indian Council of Medical Research, a total of 69,50,493 samples have been tested up to 21 June, 1,43,267 of them just on Sunday.
On Monday, the country added 14,821 new COVID-19 cases in a single day, pushing the tally to 4,25,282, while the death toll rose to 13,699 with 445 new fatalities reported till 8 am.
The country breached the four lakh-mark on Sunday, eight days after crossing three lakh COVID-19 cases. It has recorded 2,34,747 infections since June 1.
Monday was the 11th day in a row when the country registered over 10,000 cases.
Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.
Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.
“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”
A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.
Here are some steps Sitharaman may consider to spur foreign borrowing:
• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies
• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;
• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad
• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point
• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects
• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.
New Delhi, Jun 2: India on Tuesday reported 8,171 more COVID-19 cases and 204 deaths in the last 24 hours as the country's virus count inches closer to two lakh, according to the Union Ministry of Health and Family Welfare.
The total number of cases in the country now stands at 1,98,706 including 97,581 active cases, 95,527 cured/discharged/migrated and 5,598 deaths.
Cases in Maharashtra have crossed 70,000 including over 30,000 recovered while Tamil Nadu's COVID-19 tally jumped to 23,495.
Comments
Add new comment