Sushant Singh Rajput's death: Centre OKs Bihar govt's request for CBI probe; SC says 'truth should come out'

New Delhi, Jan 20: Surging inflation and slowing growth are raising serious concerns about the future growth prospects of the economy and as a remedial measure the government should resolve supply-side hurdles and ensure more stringent governance norms, a report said on Monday.

According to the Dun and Bradstreet Economy forecast, even though the Index of Industrial Production (IIP) turned positive in November 2019, it is likely to remain subdued.

"Slowdown in consumption and investment along with high inflationary pressures, geopolitical issues and uncertainty over the recovery of the economic growth are likely to keep IIP subdued," the report noted.

Dun and Bradstreet expect IIP to remain around 1.5-2.0 percent during December 2019.

As per government data, industrial output grew 1.8 percent in November, turning positive after three months of contraction, on account of growth in the manufacturing sector.

On the price front, uneven rainfall along with floods in many states and geopolitical issues have led to a surge in headline inflation even as demand remains muted.

The Consumer Price Index (CPI) in December rose to about five-and-half year high of 7.35 percent from 5.54 percent in November, mainly driven by high vegetable prices.

"The sharp rise in inflation has constrained monetary policy stimulus while revenue shortfall has placed limits on the government expenditure," Dun & Bradstreet India Chief Economist Arun Singh said.

According to Singh, growth-supporting measures and deceleration in growth are likely to cause slippage in fiscal deficit target by a wider margin.

"The government should focus on taking small steps to address the slowdown; in particular, resolve the supply-side hurdles and ensure more stringent governance norms," Singh said.

Unless these concerns are addressed through a comprehensive policy framework, it will not be easy for India to clock a sustainable growth rate to become a USD 5 trillion economy, he added.

New Delhi, July 13: The number of active Covid-19 cases in India crossed the 3 lakh mark on Sunday even as fresh infections during the day surged to another new peak, crossing 29,000 for the first time. After staying over 500 for the past two days, the daily death toll came down slightly to 492.

While the focus has been on recoveries, the number of active Covid-19 cases in the country has been steadily rising. It hit the 1 lakh mark on June 4 and went past 2 lakh 23 days later. It has taken just 15 days more to reach 3 lakh.

India reported 29,271 new cases on Sunday, the fifth straight day of record rise in daily infections. With this, the country’s coronavirus caseload has risen to 8,79,060, two days after hitting the 8 lakh mark, as per data collated from state governments. Active cases stood at 3,02,466 while more than 5.53 lakh people were declared cured of the infection.

Covid-19 deaths in the country rose to 23,175 after 492 fatalities were added on Sunday, translating to a case fatality rate of 2.6%. The CFR has been steadily dropping with the surge in cases.