Hardik Patel wants fans to look at Sunny Leone in same light as Sridevi, Madhuri Dixit

New Delhi, May 24: The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report.

According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.

"The multiplier effect of the stimulus measures on the economy will depend on three key aspects i.e. the time taken for effecting the withdrawal of the lockdown, the efficacy of implementation and duration of execution of the measures announced," Dun & Bradstreet India Chief Economist Arun Singh said.

The report noted that the government's larger-than-expected stimulus package is likely to re-start economic activities.

Besides, measures taken by the Reserve Bank of India like reducing the repo rate by a further 40 basis points to 4 per cent, extending the moratorium period by three months and facilitating working capital financing will also help stimulate the momentum.

Singh said while the measures announced by the government are "positive", most of them have been directed towards strengthening the supply side of the economy, and "it is to be noted that supply needs to be matched with demand", he said.

Besides, "in the absence of cash-in-hand benefits under the government's stimulus package, demand for goods and services is expected to remain depressed", he added.

He further said the loss in income and employment opportunities, and cautiousness among consumers, will lead to a delayed recovery in consumer demand, even after the pandemic. As debt and bad loan levels increase, the banking sector might face challenges.

The report further noted that even as the monetary stimulus is expected to inject liquidity and stimulate demand for a wider section of the economy, the channelisation of funds from the financial institutions will be subjected to several constraints.

The foremost concern being increase in risk averseness, as the balance sheets of firms, households, and banks/NBFCs have weakened considerably and low demand for funds by firms as production activities have been on a standstill during the lockdown period, Singh said.

India has been under lockdown since March 25 to contain the spread of the coronavirus, resulting in supply disruptions and demand compression.

Prime Minister Narendra Modi imposed a nationwide lockdown to control the spread of coronavirus on March 25. It has been extended thrice, with some relaxations. The fourth phase of the lockdown is set to expire on May 31. 

Mumbai, Jul 25: Movie theatres have been shuttered for months due to the coronavirus pandemic in the country, but the Information and Broadcasting Ministry has now recommended that the Union Home Ministry allow cinema halls to reopen in August. 

I&B Secretary Amit Khare indicated this at a close-door industry interaction with the CII Media Committee on Friday. He said Home Secretary Ajay Bhalla at the Home Ministry would take the final call.

Khare said that he has recommended that cinema halls may be allowed to reopen all over India as early as August 1, or at the latest, around August 31.

The formula suggested is that alternate seats in the first row and then the next row be kept vacant, and proceeding in this fashion throughout.

Khare said that his ministry's recommendation takes into consideration the two metre social distancing norm, but tweaks it gently to two yards instead. The Home Ministry, however, still has to revert on the recommendation.

Cinema owners, present in the interaction, however, pushed back and said this formula is unwise and merely running films at 25% auditorium capacity is worse than keeping the cinemas shut.

The attendees at the meet included media CEOs like N.P. Singh of Sony, Sam Balsara (Madison), Megha Tata, (Discovery), Gaurav Gandhi (Amazon Prime), Manish Maheshwari (Twitter), S. Sivakumar (Bennett Coleman and Co Ltd), and K Madhavan, Star & Disney, and also Chairman, CII Media Committee.

The OTT platforms present, including Gandhi of Amazon Prime, did not push back. Some Bollywood producers, notably those of Amitabh Bachchan's Gulabo Sitabo, have posted their movies on OTT, rather than live out the lockdown uncertainty.

New Delhi, Jan 8: Actor Kangana Ranaut on Wednesday applauded director Meghna Gulzar and actor Deepika Padukone for making 'Chhapaak', a film based on acid-attack victims.

Kangana's sister Rangoli Chandel who herself is an acid-attack survivor took to Twitter to share a video of the actor where she is seen extending thanks to Gulzar and Padukone for making a film on the important issue.

"I saw the trailer of the film 'Chhapaak' recently, and after watching it I was reminded of the incident of acid attack on my sister Rangoli. Today, I and my family thank Meghna Gulzar and Deepika (Padukone) that they made a film on this issue. This will give courage to those people who gave up on their life after struggling with it," said Ranaut in the video.

"This film has placed a tight slap on the face of those monsters who succeeded in their act but not in their will. With this film, all those faces will glow that have been spoiled and their courage was broken by these monsters and the beauty of their spirit," the 'Panga' actor said.

Congratulating the team of the film, Kangana added, "I wish that with this New Year the sale of acid gets prohibited so that this country becomes free of acid-attacks. In the end many many congratulations to the team 'Chhapaak'."

The movie is based on the real-life acid attack survivor of Laxmi, who at the age of 15, was attacked allegedly by a spurned lover in 2005. Laxmi had to undergo several surgeries. Later, she took up the job of helping acid attack survivors and promoted campaigns to stop such attacks.

'Chhapaak' is being helmed by Meghna Gulzar and is being co-produced by Deepika and Fox Star Studios. The movie is set to hit theatres on January 10, 2020.