IMF calls for 'urgent' action by India amid slowdown

News Network
December 24, 2019

Washington, Dec 24: India's government must take steps quickly to reverse the economic slowdown of an economy that has been one of the engines of global growth, the International Monetary Fund said Monday.

Declining consumption and investment, and falling tax revenue, have combined with other factors to put the brakes on one of the fastest growing economies in the world, the IMF said in its annual review.

After lifting millions out of poverty "India is now in the midst of a significant economic slowdown," Ranil Salgado, of the IMF Asia and Pacific Department, told reporters.

"Addressing the current downturn and returning India to a high growth path requires urgent policy actions."

However, the government has limited space to boost spending to support growth, especially given high debt levels and interest payments, the fund warned

IMF chief economist Gita Gopinath last week said India's slowdown had "surprised to the downside," and said the fund is set to significantly downgrade its growth estimates for the Indian economy in the World Economic Outlook which will be released next month.

The IMF in October slashed its forecast for 2019 by nearly a full point to 6.1 percent, while cutting the outlook for 2020 to 7.0 percent.

Salgado said India's central bank has "room to cut the policy rate further, especially if the economic slowdown continues."

The Reserve Bank of India (RBI) cut the key lending rate five times this year to a nine-year low, but at its last meeting earlier this month defied expectations by keeping policy unchanged.

The central bank slashed its annual growth forecast to 5 percent from 6.1 percent, as consumer demand and manufacturing activity contracts.

Salgado said "the government needs to reinvigorate the reform agenda," including restoring the health of the financial sector in order to "enhance its ability to provide credit to the economy."

Comments

Ahmed
 - 
Tuesday, 24 Dec 2019

Am Not point to all hindus but some hindus who think modi is leader for them....

 

please my dear brother think carefully...the person who lie time to time he is not good leader..

he is just using for his desire or some other desire..

when you dont have job, and empty pocket and your daughter ask for chocklet that time your relize what you have dont by supporting criminal and lier.

 

belive in RAM as leader bcoz he speak truth and thuthfull to his people...but not belive in Devil who say Lie for every second..

 

i hope our hindu brothers from mangalore will understand...

 

Suresh SS
 - 
Tuesday, 24 Dec 2019

Modi will bring India to the worst situation and people will starve to death all RSS Goondas to eat cowdung

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News Network
January 3,2020

Mumbai, Jan 3: The Shiv Sena on Friday targeted the Centre by questioning the "efficacy" of the 2016 surgical strike and said the perception that it would demoralise Pakistani terrorists remained an "illusion" as Indian soldiers continue to get killed in terror attacks in Kashmir.

Accusing the Modi government of boasting about how Pakistan was straightened out after the surgical strike, the Sena sought to know whether it has really happened.

It also observed that troubled borders were not good for the country's well-being.

The Sena's remarks come in the wake of the death of an Army soldier from Maharashtra, Naik Sandip Raghunath Sawant, who was killed during a counter-insurgency operation in Jammu and Kashmir on Wednesday.

"The New Year did not begin on a positive note in Kashmir. Our jawan from Satara, Sandip Sawant, attained martyrdom in Kashmir along with two other soldiers. In the last one month, seven to eight jawans from Maharashtra were killed in the line of duty. The Maha Vikas Aghadi government in Maharashtra is not responsible for this," the Sena said in an editorial in party mouthpiece 'Saamana'.

The party also questioned whether the situation in Kashmir has improved after the surgical strike and abrogation of Article 370 provisions.

The party, however, maintained that scrapping Article 370 was a good move.

India had conducted the surgical strike on September 29, 2016, across the Line of Control (LoC) as a response to a terrorist attack on an Indian Army base in Uri sector of Jammu and Kashmir earlier that month.

Without naming the Centre, the Sena alleged, "Circulating news that only the Pakistanis were getting killed in Kashmir will not change the reality as tricolour-draped bodies of Indian soldiers, like Sawant, are reaching their respective villages."

"There is a bloodshed along the Kashmir border and mounting anger among the families of martyred jawans. The perception that surgical strike will demoralise Pakistani terrorists has turned out to be an illusion. In fact, the (terror) attacks have increased," it added.

The Uddhav Thackeray-led party accused the ruling BJP of boasting about straightening out Pakistan after the surgical strike.

"But has Pakistan been really straightened out? Rather Pakistan has been indulging in ceasefire violations along the LoC every day," it added.

The Shiv Sena also questioned the government's claim that the situation in Kashmir was under control after the nullification of Article 370.

"It is good that Article 370 was scrapped. Before that, surgical strike was carried out in Pakistan. But has the situation in Kashmir improved? The terror attacks continue. It's only that there is a control in reporting (these incidents)," it said.

The Sena also alleged that there was no clarity as to what was transpiring in Kashmir after the scrapping of Article 370 and only the media reports of soldiers sacrificing their lives have been coming out from that state

In a veiled attack on the BJP, its erstwhile ally, the Sena, also accused it of exploiting the surgical strike for political gains.

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News Network
May 6,2020

Washington, May 6: The Chinese Army is indulging in aggressive behaviour in the South China Sea and the Chinese Communist Party has ramped up its disinformation campaign to try to shift the blame on coronavirus and burnish its image, US Defense Secretary Mark Esper said on Tuesday.

"While the Chinese Communist Party ramps up its disinformation campaign to try to shift blame and burnish its image, we continue to see aggressive behaviour by the PLA in the South China Sea, from threatening a Philippine Navy ship to sinking a Vietnamese fishing boat and intimidating other nations from engaging in offshore oil and gas development," Esper told reporters at a Pentagon news conference.

Last week, two US Navy ships conducted freedom of navigation operations in the South China Sea to send a clear message to Beijing that America will continue to protect the freedom of navigation and commerce for all nations large and small, he said.

Many countries, Esper said, have turned inward to recover from the pandemic and in the meantime, America's strategic competitors are attempting to exploit this crisis to their benefit at the expense of others.

Responding to a question, he said the Chinese have not been transparent from the beginning on the coronavirus pandemic.

"If they had been more transparent, more open, upfront in terms of giving us access, the reporting, giving us access not to the people on the ground but to the virus they had so we could understand it, we would probably be in a far different place right now. But where we are now is this," Esper said.

China needs to allow the United States in to talk to early patients, Chinese researchers and scientists, and to have access, he added.

Instead, Esper alleged that the Chinese are trying to capitalise on this by promoting their own image that somehow, China is the good guy here.

"Despite everything they did or, more importantly, failed to do, now they want to go out and say well, here's masks. We will give you masks, provide this, or provide that, we will provide you funding. Look at all the good things we are doing," he said.

"Yet, what we know is that they provide masks, they provide supplies. In many cases, it is not good. It does not do what it is supposed to do. It is broken equipment. Also, the strings attached are enormous in many cases. So, they are telling a country you can take these masks, but please, put out publicly how good China is, how great we are doing, et cetera, et cetera," Esper said.

"So there is a number of things they are doing to try and burnish their image. That is just two of them right there," he said.

The Chinese are also doing a lot of strong-arming behind the scenes, Esper said and referred to the war of words between China and Australia. He said he plans to talk to his Australian counterpart later in the day.

"All these activities are going on. It is straight from the Chinese playbook. Once again, it is just a little bit more obvious this time with what they are doing and how they are using a combination of compelling and coercion and everything else to try and shape the narrative and burnish the image of the Chinese Communist Party," Esper said.

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News Network
May 12,2020

May 12: Several Indians in the US, either on the H-1B work visa or Green Card having children who are American citizens by birth, are being prevented from travelling to India aboard the special repatriation flights being run by Air India amidst the coronavirus-linked global travel restrictions.

According to the regulations issued by the Indian government last month and updated last week, visas of foreign nationals and OCI cards, that provide visa-free travel privileges to the people of Indian-origin, have been suspended as part of the new international travel restrictions.

For some of the Indian citizens like the Pandey couple in New Jersey (name and place changed at request), it's a double whammy. Having lost their H-1B job, they have to go back to India within the stipulated 60 days as required by law. The couple has two kids aged one and six years who are American citizens.

In the wee hours of Monday, they had to return from Newark airport as Air India refused to give their kids a ticket to fly to India along with them, despite them having a valid Indian visa. The young mother and father are Indian citizens.

They said that the officials from Air India and (Indian) Consulate (in New York) were very cooperative.

Also Read: COVID-19: Top senators urge Trump to temporarily suspend all new guest worker visas, including H-1B

But they could not do anything as their hands were tied by the latest regulation issued by the Indian government, a shocked Ratna Pandey told PTI.

"I would like to urge the Indian government to reconsider their decision on the humanitarian basis," said the Indian national who has lost her job but could not leave the US within the stipulated 60 days to avoid any future visa complications.

She now plans to make an appeal to the US Citizenship and Immigration Services (USCIS) to extend their stay.

Last month, H-1B visa holders, mostly Indians, launched a White House petition urging US President Donald Trump to extend their permissible stay from 60 to 180 days after job loss. However, there has been no decision from the White House so far.

While there is no official statistics of how many Indian H-1B visa holders have lost their jobs, it is believed to be substantial.

The US, due to the coronavirus pandemic, is experiencing an unprecedented unemployment rate and more than 33 million Americans have lost their jobs in the last two months. Given this massive job loss, Indians, who have lost their jobs, are unlikely to get one and thus many would have no other option but to travel back home.

In the case of single mother Mamta (name changed), the situation is graver as her son is just three-month old. Only she was given the ticket and the infant was not allowed to fly along with her because he carried an American passport.

"I would like to request the Indian government to let us fly back home. I don't want to stay in the US any longer," she told PTI hours after being prevented from boarding her hometown Ahmedabad-bound flight from Newark on Sunday.

"I am alone here. I don't have a relative here. It's a difficult situation," she said.

"Vande Bharat Mission is a humanitarian mission. But this is certainly inhuman," said Rakesh Gupta (name changed) from Washington DC.

An H-1B professional, Gupta has lost his job and needs to return to India within the stipulated 60 days. He and his wife, Geeta (name changed) being Indian citizens, received the confirmation of their seats in the flight but have been told that their two-and-a-half-year-old daughter cannot travel with them as she carried an OCI card.

"I don't believe this," he said.

Unlike the Pandey couple and Mamta, who had made the payment of USD 1,361 per ticket for their flight back home, Rakesh has not made the payment. Air India has said that the money would be refunded.

All the three Indian citizens requested the Indian government to help them travel back home by making necessary changes in the current regulations.

As per a recent government notification, all existing Indian visa holders, and visa-free travel facility, granted to OCI card holders who are not in India, have been suspended till restrictions on international air travel remains.

New York-based community leader Prem Bhandari said that the May 5 travel advisory has created multiple painful issues for the OCI card holders in the US and also to Indian citizens who are either on Green Card or H-1B visas and want to travel back home, but cannot leave their kids who are Americans by birth.

"We would like to express our disappointment with the discrimination between OCIs and citizens in respect of entering India at this critical stage when many OCIs have lawfully built their homes, families and businesses in India," Bhandari said in a letter to Union Home Secretary Ajay Kumar Bhalla on Monday.

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