German with 1,800 cows allowed to stay in India

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.

Lucknow, May 9: The first patient to receive plasma therapy as an experimental treatment for coronavirus infection in Uttar Pradesh died following a heart attack on Saturday.

The patient, a 58-year-old doctor, was admitted at the King George’s Medical University (KGMU) here.

The doctor, who was on ventilator since the last 14 days, died on Saturday evening following a heart attack, KGMU Vice-Chancellor M L B Bhatt said.

Since he had high blood pressure and diabetes, he was under the continuous observation of doctors in the isolation ward, Bhatt said.

“The patient was in a stable condition. His lungs had improved, but he later developed urinary tract infection. Two reports of his samples came out as negative (for COVID-19) today,” the vice-chancellor said.

“He, however, suffered a heart attack around 5 pm. Despite all efforts, he could not be saved,” he said.

The doctor from Orai in Uttar Pradesh was administered plasma therapy at the state-run KGMU on April 26. He was administered the plasma donated by a doctor from Canada who was the first COVID-19 patient admitted at the hospital and later recovered.

Tulika Chandra of Blood Transfusion Department, KGMU said, "When the patient was given plasma therapy, his condition was very bad. His lungs, however, improved. But as he was an old patient with diabetes, he was kept on the ventilator.”

Convalescent Plasma Therapy is an experimental procedure for treating COVID-19 patients. In this treatment, plasma, a blood component, from a cured patient is transfused to a critically ill coronavirus patient.

The blood of a person who has recovered from COVID-19 develops antibodies to fight the virus. This therapy uses the antibodies from the blood of a cured patient to treat another critical patient.

The Union health ministry, however, had advised against considering the therapy to be a regular treatment for coronavirus, adding it should be used for research and trial purposes till there is a piece of robust scientific evidence to support its efficacy.

New Delhi, Jan 21: With the IMF lowering India's economic growth estimate for the current fiscal to 4.8 per cent, senior Congress leader P Chidambaram on Tuesday claimed an attack on the world body and its chief economist Gita Gopinath by government ministers was imminent.

He also alleged that the growth figure of 4.8 per cent given by the International Monetary Fund (IMF) is after some "window dressing" and he won't be surprised if it goes even lower.

"Reality check from IMF. Growth in 2019-20 will be BELOW 5 per cent at 4.8 per cent," Chidambaram said in a series of tweets.

"Even the 4.8 per cent is after some window dressing. I will not be surprised if it goes even lower," the former finance minister said.

IMF Chief Economist Gopinath was one of the first to denounce demonetisation, he noted.

"I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath," Chidambaram said.

The IMF lowered India's economic growth estimate for the current fiscal to 4.8 per cent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.

In October, the IMF had pegged India economic growth at 6.1 per cent for 2019.

Listing decline in rural demand growth and an overall credit sluggishness for lowering of India forecasts, Gopinath, however, had said the growth momentum should improve next year due to factors like positive impact of corporate tax rate reduction.