Economic outlook cloudy in FY20: RBI annual report

Agencies
August 30, 2019

Mumbai, Aug 30: The Reserve Bank of India (RBI) said on Thursday that the overall economic outlook of the country appeared clouded for 2019-20 and advised to prioritise the revival of consumption and private investment and structural reforms.

"Overall, the outlook appears clouded as the Indian economy begins its course through 2019-20," the RBI said in its annual report released on Thursday.

The central bank also expressed concern over falling rural demand amidst some surge in indices.

"Rural demand, however, was affected by moderation in agricultural growth as reflected in tractors and two-wheelers sales. Indicators of urban demand revealed a mixed picture in contrast. Air passenger traffic recorded its lowest growth in the last five years.

"Passenger vehicles sales were the lowest in five years on account of increase in insurance costs, volatile fuel prices and lack of financing options due to the liquidity stress in the non-banking sector. The production of consumer non-durables slumped to its lowest level in the past three years," the report highlighted.

The central bank in its review said that external demand operated as a drag for the second successive year while deficit south-west monsoon and depleted reservoirs dented the performance of the agriculture sector.

The rate of gross domestic savings had increased marginally to 30.1 per cent of gross national disposable income (GNDI) in 2017-18 from declines in the previous two years.

The household financial savings -- the most important source of funds -- had increased by 0.3 percentage points of GNDI, though it had remained much lower than 7.3 per cent during 2011-16.

The rate of gross domestic investment in the Indian economy, measured by the ratio of gross capital formation (GCF) to GDP at current prices, had risen to a peak of 39.8 per cent in 2010-11 before a prolonged slowdown set in, taking it down to 30.9 per cent in 2016-17.

A modest recovery was seen in the following year. Although data on gross domestic investment are not yet available for 2018-19, movement in its constituents suggests that the uptick could not be sustained.

Growth in fixed investment collapsed to a 14-quarter low in Q4 of 2018-19 as production of capital goods registered a sharp contraction while imports nosedived in a coincident manner.

However, the industrial sector posted resilient growth, mainly driven by manufacturing in the first half, while the momentum in construction and financial services sustained the healthy growth of the overall services sector, the RBI said.

"Going forward, priority should be accorded to revive consumption and private investment while continuing with structural reforms," the RBI said.

On job creation, the RBI said that official estimates suggest more regularisation of employment in 2017-18 and the various initiatives undertaken by the government are expected to create avenues for employment.

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News Network
June 12,2020

Jun 12: There have been complaints of non-availability of beds or denial of treatment to coronavirus patients in the national capital despite nearly 70 per cent of beds in five designated hospitals run by the Delhi government lying vacant, with experts attributing it to people''s aversion towards state-run facilities.

As per the latest information shared on the Delhi Corona app on Thursday afternoon, more than 3,000 beds are lying vacant in these five dedicated COVID-19 hospitals that have a total capacity of 4,344 beds.

However, almost all beds at several big private hospitals are shown to be occupied.

Families of many COVID-19 patients, confirmed or suspected, have alleged in the past few weeks that they have been denied admission at many facilities or have not been able to get a bed for their kin.

Medical and public health experts feel it may be because of the image associated with government hospitals, related to infrastructure and hygiene conditions, and perhaps shortage of staff.

According to the latest data available on Delhi Corona app on Thursday afternoon, a total of 9,444 beds are available in private facilities and hospitals run by the central and Delhi governments. Out of these, 4,371 are vacant.

The app shows that beds are available at Delhi government-run hospitals dedicated for COVID-19 treatment such as LNJP Hospital (1,219), GTB Hospital (1,314), Rajiv Gandhi Super Speciality Hospital or RGSSH (242).

However, almost all beds at several big private hospitals are shown to be occupied.

At LNJP Hospital, there are a total of 2,000 beds, out of these 781 are occupied. GTB Hospital has total 1,500 beds, only 186 of which are occupied. Even at RGSSH, 258 of the 500 beds are occupied.

Beds are available at other dedicated COVID-19 facilities in the national capital too, according to the app. Deep Chand Bandhu Hospital has 94 unoccupied beds out of a total 176 and Satyawadi Raja Harishchandra Hospital has 145 vacant beds out of a total 168.

This makes a total of 4,344 COVID-19 beds at these five dedicated Delhi government hospitals, out of which 3,014 or 69.38 per cent are vacant.

A senior doctor at the RGSSH said, "We are only admitting very serious COVID-19 patients in the hospital. Those with mild symptoms, or asymptomatic ones, are either being home quarantined or being sent to COVID Care Centres. Our beds are on stand-by also to accommodate serious patients in case there is a sudden rush."

Delhi Heath Minster Satyendar Jain had recently said that some private hospitals could have been denying admission, but the Delhi government-run hospitals have not denied beds to any needy COVID-19 patient.

He had also said that main private hospitals are almost full to their capacity in terms of number of COVID-19 beds.

According to the app, at prominent private hospitals like Indraprastha Apollo, Max Hospital in Shalimar Bagh, Fortis Hospital in Shalimar Bagh, BL Kapur Hospital are fully occupied.

Max Hospital in Saket has a total of 200 beds for COVID-19 patients, and only one is vacant.

On June 9, the Delhi government had directed 22 private hospitals in the national capital to dedicate a total of 2,015 extra beds for treatment of coronavirus patients, revising its earlier allocation limit of 20 per cent.

Lawyer and public heath activist Ashok Agarwal said infrastructure and hygiene are two main factors, and people still want to "avoid government facilities".

"I know of cases, where people were willing to be on waiting list of private hospitals but did not go to a government hospital, even though beds were available," he said.

Even those who went to a government hospital for COVID-19 treatment, complained of "dirty toilets, and these being used by multiple patients", Agarwal said.

"Also, as the cases erupted successively over the months, many people got scared and were in two minds to go to a government hospital, as admitted patients were making allegations in videos and on social media about lack of proper services. Besides, there is shortage of medical staff at various facilities, and each patient needs to be attended to," he argued.

Delhi government hospitals and private facilities were directed to prominently display information about the availability of beds on a flex board at their main gates.

Delhi Lt Governor Anil Baijal on Wednesday ordered Delhi hospitals to display the availability of COVID and non-COVID beds, charges for rooms or beds along with contact details on a LED board outside the hospital.

Max Hospital sources said they were already displaying the status of beds on LED screens near their reception area even before the government order.

A spokesperson from Fortis Hospital said, "We are in the process of arranging to put up the displays as per the prescribed format."

Delhi recorded 1,501 fresh coronavirus cases on Wednesday, taking the COVID-19 tally in the city to over 32,000, and the death toll due to the disease mounted to 984, authorities said.

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News Network
February 6,2020

New Delhi, Feb 6: DMK Lok Sabha member M K Kanimozhi on Wednesday challenged popular actor Rajinikanth to raise his voice for Muslims, saying they have "already been affected" by the Citizenship (Amendment) Act and are protesting on streets against the law.

Reacting to his statements earlier in the day in Chennai that "CAA is no threat to Muslims" and "if they face trouble I will be the first person to raise voice for them," Kanimozhi, daughter of former Tamil Nadu Chief Minister M Karunanidhi, told news agency that "Muslims in India have already been affected due to CAA".

"Let him (Rajinikanth) come forward and raise his voice for the affected Muslims", she said.

She said the members of the community have been protesting as the law leaves out Muslims.,

Asked whether Rajinikanth, through this pro-CAA statement, was moving closer to the BJP, the MP from Tuticorin said, "What he has said is no different from the BJP's narrative which we have been listening in parliament for the last few days".

Under CAA, members of Hindu, Sikh, Buddhist, Jain, Parsi and Christian communities who came to India from Pakistan, Bangladesh and Afghanistan till December 31, 2014, to escape religious persecution there will not be treated as illegal immigrants, and be given Indian citizenship.

Rajinikanth had asserted that the legislation did not pose any threat to Muslims. He wondered as to how Muslims, who chose to stay back in India following Partition will be sent out of the country. Besides, the central government had assured that Indian people will have no issues in view of CAA, he noted.

He charged that some political parties were instigating people against the CAA for their selfish interests.

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News Network
May 30,2020

May 30: A total of 513 domestic flights carrying 39,969 passengers were operated in India on Friday, Civil Aviation Minister Hardeep Singh Puri said on Saturday.

Domestic services resumed in India after a gap of two months due to the coronavirus lockdown. Indian carriers have operated a total of 1,827 flights till Thursday -- 428 on Monday, 445 on Tuesday, 460 on Wednesday and 494 on Thursday.

Puri said on Twitter on Saturday: "Day 5. 29th May till 2359 hrs. Departures 513. 39,969 passengers handled. Arrivals 512. 39,972 passengers handled." A departure is counted as a flight during the day.

During the pre-lockdown period, Indian airports handled around 3,000 daily domestic flights, aviation industry sources said.

In February, when the lockdown was not imposed, around 4.12 lakh passengers travelled daily through domestic flights in India, according to Directorate General of Civil Aviation (DGCA) data.

Airports in West Bengal, Andhra Pradesh, Maharashtra, Telangana and Tamil Nadu have been allowed to handle a restricted number of daily flights as these states do not want a huge influx of flyers amid the rising number of COVID-19 cases.

While domestic services resumed in Andhra Pradesh on Tuesday, they restarted in West Bengal on Thursday.

Though domestic flight operations across the country began on May 25, they could not be restarted in Kolkata and Bagdogra as the West Bengal machinery was involved in relief and restoration work after cyclone Amphan's devastation.

A total of 16 asymptomatic passengers on seven different flights, including 13 who travelled by IndiGo, have tested positive for COVID-19 since the resumption of domestic air services.

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