Hope no Kejriwal will emerge from my movement again: Anna Hazare

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. 

Jeddah, May 18: Saudi Arabia’s Grand Mufti and head of the Council of Senior Scholars and the Department of Scientific Research and Ifta Sheikh Abdul Aziz Al Asheikh ruled that it is permissible to perform Eid Al-Fitr prayer at home under exceptional circumstances similar to the current pandemic situation. The prayer consists of two rakats with reciting more numbers of takbeer and without a sermon.

Speaking to Okaz/Saudi Gazette, he said that Zakat Al-Fitr could be distributed through charitable societies if they are reliable ones, with the condition that it should be distributed before the day of Eid. The Grand Mufti urged parents to bring joy and happiness to their children and their families by spending more on them.

Meanwhile, Sheikh Abdul Salam Abdullah Al-Sulaiman, member of the Council of Senior Scholars and the Standing Committee of Fatwa, said that Eid prayer could be performed individually or in congregation.

Speaking to Okaz/Saudi Gazette, he said that the worshiper will recite takbeer to start salat and then follow it with six more takbeer in the first rakat before reciting Fatiha loudly and then it is ideal to recite Surah Al-Qaf.

In the second rakat, there will be five takbeer after the takbeer at the start of the rakat before starting to recite Surah Fatiha and then Surah Al-Qamar, following the example of the Prophet (peace be upon him). It is also ideal to recite Surah Al-A’la and Al-Ghashiya instead of Al-Qaf and Al-Qamar in each rakat respectively.

Sheikh Al-Sulaiman also cited the example of Anas Bin Malik, a prominent companion of the Prophet (pbuh). When Anas (May Allah be pleased with him), was at his home in Zawiya, a place near Basra, he did not find any Eid congregation prayer and therefore he performed prayer along with his family members and his aide Abdullah Bin Abi Otba.

The scholar said that the time for Eid prayer begins after sunrise and the best time is after the sun rises by the height of one or two spears as agreed by most scholars. This means 15 or 30 minutes after sunrise and its time continues until the end of the time of the Duha prayer; that is before the Zuhr prayer begins.

The prayer is forbidden at the moment when the sun rises, and the majority of jurists, including the schools of thought of Shafi, Maliki, and Hanbali opposed prayer at sunrise and favored to perform the prayer only after the sun rises by the height of one or two spears in the sky.

Regarding the recitation of takbeer on the occasion of Eid Al-Fitr, Sheikh Al-Suleiman said that it should begin during the night of the Eid and continue until the beginning of the Eid prayer.

New Delhi, Apr 22: The number of COVID-19 cases in India reached 20,471on Wednesday, with Maharashtra continuing to be the worst-hit state.

Out of the total number of cases, 15,859 are active cases, 3,959 cured or discharged and 652 deaths.

Maharashtra has reported the highest number of cases across the country, with the count at 5,221, followed by Delhi (2,156) and Gujarat (2,272). Maharashtra reported 251 deaths, the highest fatality rate than any other state.
Fresh cases were reported today from Kerala, Karnataka, Rajasthan and Kashmir among other states and UTs.

The Union Cabinet on Wednesday approved Rs 15,000 crore for 'India COVID-19 Emergency Response and Health System Preparedness Package'. The funds sanctioned will be utilised in three phases.

While Rs 7,774 crore has been provisioned for immediate COVID-19 emergency response, the rest would be used for medium-term support (1-4 years) to be provided under mission mode approach.

Briefing mediapersons about the package here on Wednesday, Union Minister Prakash Javadekar said the key objectives of the package include mounting emergency response to slow and limit COVID-19 in India through the development of diagnostics and COV1D-dedicated treatment facilities, centralised procurement of essential medical equipment and drugs required for treatment of infected patients, strengthen and build resilient national and state health systems to support prevention and preparedness for future disease outbreaks.

Javadekar said that no decision has been taken so far regarding the resumption of flight operations.

"No decision has been taken yet on the resumption of flight operations. An announcement will be made on time as to when it will resume," Javadekar told reporters.
Here's a quick read on the COVID-19 related updates:

1. Two Chinese manufactures of rapid antibody test, Guangzhou Wondfo Biotech Co. Ltd and Zhuhai Livzon Diagnostics Inc are now the subject of investigations by the Indian Council of Medical Research (ICMR) as the rapid testing antibody kits of these two companies delivered results with wide variations and low accuracy.

2. Rajasthan Health Minister Raghu Sharma said that 735 doctors have recently been recruited and posted to hospitals in the state.

3. The Employees Provident Fund Organisation (EPFO) has settled 10.02 lakh claims, including 6.06 lakh COVID-19 cases, under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) in 15 working days.

4. Secretary of Overseas Indian Affairs in the Ministry of External Affairs, Vikas Swarup, interacted with envoys of nearly 30 Central European countries on Wednesday and shared thoughts on fighting COVID-19.

5. Taking cognisance of the need for essential services like plumbing during COVID 19 crisis, the Indian Plumbing Skills Council (IPSC) aligned to Skill India programme, under the aegis of the Ministry of Skill Development and Entrepreneurship (MSDE), has prepared a database of over 900 plumbers who are ready to provide their services during the lockdown period across the country.

6. Braving all odds, workers of the Accredited Social Health Activists (ASHA) are conducting door to door surveys in the Red Zones of Nagpur putting their lives at risk.

7. Aviation Minister Hardeep Puri on Wednesday said that Air India has lifted about 300 tonnes of essential medical cargo so far this month through China-India aerobridge. It is planned that Air India along with SpiceJet and Blue Dart will airlift another 220 tonnes of this critical cargo in the next three days.

8. Ministry of Railways has offered to supply 2.6 lakh meals daily from various railway kitchens wherever the district administration is willing and able to pick up cooked meals and distribute among the needy. This has been communicated to district authorities all over the country.

9. Uttarakhand Chief Minister Trivendra Singh Rawat on Wednesday said that the state's COVID-19 doubling rate stands at 26.6 days and Uttarakhand ranks third in preventing coronavirus infection.

10. The Central government has brought an ordinance to end violence against health workers, making it a cognizable, non-bailable offence with imprisonment up to seven years for those found guilty.