Economic outlook cloudy in FY20: RBI annual report

New Delhi, Mar 29: The battle against coronavirus is a tough one and it required harsh decisions to keep India safe, said Prime Minister Narendra Modi in his first Mann Ki Baat after the 21-day lockdown was imposed in the wake of COVID-19 outbreak.
"The battle against COVID-19 is a tough one and it did require such harsh decisions. It is important to keep the people of India safe. A disease must be dealt with at the very beginning as delay makes it incurable," said Prime Minister Modi.
He said that as the coronavirus has put the entire world in lockdown, so "India is doing the same."
"It is a challenge before everyone, science and knowledge, poor and rich, powerful and weak. It is neither restricted to a nation nor region or particular weather. This virus is bent upon killing human beings, eliminating them. Hence all of us, the entire humanity, must unite and resolve to eliminate it," he added.
Addressing the 63rd edition of his monthly radio programme 'Mann Ki Baat', the Prime Minister had sought forgiveness from all countrymen, and especially the poor, for the nationwide lockdown in the country in the view of the novel coronavirus.
During his address to the nation on March 24, the Prime Minister had announced a 21-day nationwide lockdown to contain the spread of the deadly virus. 

Washington, Jun 11: Observing that historically India has been a tolerant, respectful country for all religions, a top Trump administration official has said the US is "very concerned" about what is happening in India over religious freedom.

The comments by Samuel Brownback, Ambassador-At-Large for International Religious Freedom, came hours after the release of the "2019 International Religious Freedom Report" on Wednesday.

Mandated by the US Congress, the report documenting major instances of violation of religious freedom across the world was released by Secretary of State Mike Pompeo at the State Department.

India has previously rejected the US religious freedom report, saying it sees no locus standi for a foreign government to pronounce on the state of its citizens' constitutionally protected rights.

"We do remain very concerned about what's taking place in India. It's historically just been a very tolerant, respectful country of religions, of all religions," Mr Brownback said during a phone call with foreign journalists on Wednesday.

The trend lines have been troubling in India because it is such a religious subcontinent and seeing a lot more communal violence, Mr Brownback said. "We're seeing a lot more difficulty. I think really they need to have a - I would hope they would have an - interfaith dialogue starting to get developed at a very high level in India, and then also deal with the specific issues that we identified as well," he said.

"It really needs a lot more effort on this topic in India, and my concern is, too, that if those efforts are not put forward, you're going to see a growth in violence and increased difficulty within the society writ large," said the top American diplomat.

Responding to a question, Mr Brownback said he hoped minority faiths are not blamed for the COVID-19 spread and that they would have access to healthcare amid the crisis.

Prime Minister Narendra Modi has criticised any form of discrimination, saying the COVID-19 pandemic affects everyone equally. "COVID-19 does not see race, religion, colour, caste, creed, language or border before striking. Our response and conduct thereafter should attach primacy to unity and brotherhood," PM Modi said in a post on LinkedIn in February.

The government, while previously rejecting the US religious freedom report, had said: "India is proud of its secular credentials, its status as the largest democracy and a pluralistic society with a longstanding commitment to tolerance and inclusion".

"The Indian Constitution guarantees fundamental rights to all its citizens, including its minority communities… We see no locus standi for a foreign entity/government to pronounce on the state of our citizens' constitutionally protected rights," the Foreign Ministry said in June last year.

According to the Home Ministry, 7,484 incidents of communal violence took place between 2008 and 2017, in which more than 1,100 people were killed.

Mumbai, Mar 12: In what appears to be the worst trading session in the Indian stock markets, the benchmark BSE Sensex crashed over 2900 points to end below the 33,000-mark.

The Sensex crashed 2,919.26 points to end at 32,778.14. So far it has touched an intra-day low of 32,530.05 points.

The Nifty50 on the National Stock Exchange also lost nearly 850 points so far. It plunged 868.25 points to 9,590.15.

The plunge was in line with the global markets as all Asian indices also traded in the red after the World Health Organization (WHO) declared coronavirus a global pandemic following which the Dow Jones Industrial Average also slumped significantly on Wednesday.

The bear run in both the global and domestic markets has continued off late on concerns of the coronavirus outbreak severely impacting the global economy. It has also raised calls for government intervention and support.

Central banks in several countries, including the US Federal Reserve have announced emergency rate cuts to boost sentiments. However, the concerns have only deepened in the past few days as the number of COVID-19 cases across the world has increased.

Further, following the rout in the global markets oil prices also fell on Thursday with the Brent crude trading around $34 per barrel.

The Indian rupee also felt the pressure and touched a 17-month low of 74.34 per dollar in its initial trade.