Defeat UAPA Amendment Bill: PFI writes to Rajya Sabha MPs

New Delhi, Feb 29: Former RBI governor Raghuram Rajan has said slowdown in growth is due to the current government focussing more on meeting its political and social agenda rather than paying attention to the economy.

India can still reverse its slowing economic growth by paying attention to key issues, he said. "It's a sad story, I think most recently, it is politics," Rajan said in response to a question on what was stopping India's growth which remains below potential.

In an interview to Bloomberg TV, Rajan said unfortunately the current government after a massive election win has "focussed more on fulfilling its political and social agenda rather than paying attention to the economic growth".

"Unfortunately, this drift has continued a pace of slowing growth, which was precipitated initially by some actions the government took such as the demonetisation and a poorly rolled out Goods and Services Tax (GST) reform," Rajan said.

India's GDP growth hit nearly 7-year low of 4.7 per cent in the December quarter, as per official data released on Friday.

The GDP growth for the quarter is the lowest since January-March of 2012-13.

In the interview, which was telecast before the official numbers were released, Rajan said India has not paid sufficient attention to cleaning up the financial sector and unfortunately, that is leading to the slowing growth.

"These are things that they can change if attention is paid to them and appropriate actions are taken," Rajan, Professor of Finance at University of Chicago Booth School of Business, said.

On being asked about the spread of the coronavirus globally and its impact, he said there will certainly be some legacy issues in terms of business rethinking in the global supply chain.

"If it is disrupted anywhere, the entire supply chain is held ransom and companies are going to start rethinking that should we actually have these really spread out global supply chain or to bring them back closer home and how much diversification should we have. Should we have multiple production sites across the world rather than have it focussed primarily in Asia," he said.

New Delhi, Jun 27: Delhi Environment Minister Gopal Rai on Saturday called an emergency meeting here to discuss the situation following a locust attack in neighbouring Gurugram.

The minister also directed the administration to be alert, an official said.

"After the emergency meeting, an advisory will be issued on steps to be taken to deal with the situation," Rai told PTI.

He asked the officials of the Agriculture department to make field visits to areas close to Gurugram.

The development secretary, divisional commissioner, director, Agriculture department, and the district magistrates of South Delhi and West Delhi will attend the meeting, the official said.

Earlier in the day, the skies over many parts of Gurugram turned dark as swarms of locusts descended on the town.

However, the migratory pests are likely to spare the national capital for now, officials said.

The swarms of locusts, spread across two kilometres, moved from west to east. They entered Gurugram around 11.30 am, K L Gurjar of the Locust Warning Organisation, Ministry of Agriculture, told PTI.

The pests, he said, were headed towards Faridabad and Palwal in Haryana.

Alarmed at the invasion of the locusts, which settled on trees, rooftops and plants, many residents of Gurugram shared videos from their high-rise perches.

In May, India battled a devastating desert locust outbreak. The crop-destroying swarms first attacked Rajasthan and then spread to Punjab, Gujarat, Maharashtra and Madhya Pradesh.

According to experts, broadly four species of locusts are found in India – desert locust, migratory locust, Bombay locust and tree locust. The desert locust is considered the most destructive.

It multiplies very rapidly and is capable of covering 150 kilometers in a day.

This insect, a type of a grasshopper, can eat more than its body weight. A one square kilometer of locust swarm containing around 40 million locusts can in a day eat as much food as 35,000 people.

Experts blame the growing menace of desert locusts on climate change. They say breeding of locusts is directly related to soil moisture and food availability.