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
February 13,2020

New Delhi, Feb 13: Arvind Kejriwal wrote to Delhi Lieutenant Governor Anil Baijal on Wednesday, staking claim to form the government in the national capital, sources said, while hinting that the AAP might not invite senior leaders and chief ministers of other parties for the oath-taking ceremony.

The sources said it was the formal process by the AAP chief, who was elected as the legislature party leader earlier in the day, to stake claim for forming the new government.

Kejriwal, who returned to power in Delhi with a stunning poll victory on Tuesday, will take oath as chief minister for the third consecutive time on February 16.

While the oath-taking ceremony will be open to the public, the Aam Aadmi Party (AAP) was considering not inviting leaders and chief ministers of other parties as it did not wish to be seen as a "confrontationist" against the BJP-led Centre, the sources said.

They, however, added that the party was yet to take a decision on it.

The AAP has planned mobilisation of people for the mega event and all the newly-elected MLAs of the party have been asked to ensure huge participation from their constituencies.

"I request the people of Delhi to attend the oath-taking ceremony of the chief minister at the Ramlila Maidan in large numbers," senior AAP leader Manish Sisodia told reporters, adding that the ceremony will start at 10 am.

The AAP won 62 seats in the 70-member Delhi Assembly, while the Bharatiya Janata Party (BJP) bagged the remaining eight seats. The Congress drew a blank for the second consecutive time in the Delhi polls.

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News Network
May 28,2020

Geneva, May 28: The global death toll from the novel coronavirus has risen over the past 24 hours by 5,581 to 349,095, the World Health Organization (WHO) said in its daily situation report.

The number of confirmed cases has increased by 84,314 to 5,488,825, the WHO said.

Most cases of infection are recorded in the Americas (North and South America) - 2,495,924, with 145,810 deaths. While Europe has reported 2,061,828 cases and 1,76,226 deaths so far.

As per WHO tally, the US has the highest number of cases in the world with 1,63,4010 infections.

The global health body declared the outbreak of the new coronavirus a pandemic on March 11.

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Agencies
July 10,2020

Kanpur, Jul 10: Kanpur encounter main accused Vikas Dubey, who was injured in an encounter with the police, died on Friday, the police said.

"Gangster Vikas Dubey arrested for killing eight policemen is dead," confirmed the police.

According to SP Kanpur West Anil Kumar, gangster Vikas Dubey attempted to flee after the car overturned. Dubey attempted to flee by snatching pistol of the injured policemen. However, he was shot in the retaliatory firing.

"Vikas Dubey attempted to flee by snatching pistol of the injured policemen after the car overturned. Police tried to make him surrender, during which he fired at the policemen. He was injured in retaliatory firing by police. He was later rushed to the hospital," SP Kanpur West told reporters here.

Dubey, the main accused in the Kanpur encounter was arrested by the police in Ujjain on Thursday morning. He was on the run for the last six days and had come to Ujjain to offer prayers at Temple, where he was identified by a security guard at the shrine.

The gangster is the main accused in the encounter that took place in Bikru village in Chaubeypur area of Kanpur last week, in which a group of assailants allegedly opened fire on a police team, which had gone to arrest Dubey. Eight police personnel were killed in the encounter.

Dubey managed to escape after the killing.  The Uttar Pradesh police launched a hunt for him and raised the bounty on him to Rs 5 lakh.

Bahua Dubey and Prabhat Mishra, close aides of the main accused, were killed in separate encounters in Etawah and Kanpur respectively, on Thursday.

The main accused's other aide Shyamu Bajpai was arrested by the Chaubeypur police following an encounter. He carried a reward of Rs 25,000, the police informed on Wednesday. Earlier the same day, Uttar Pradesh's Special Task Force (STF) gunned down Vikas Dubey's close aide Amar Dubey in Hamirpur district.

Comments

Kannadiga
 - 
Friday, 10 Jul 2020

No one fool other than ghobar society will believe on this news. Totally a goonda raj by yogiraaj.  He tried to offer 1crore to all killed policemen. But locals obligation now this is the  new drama. One way this is a lesson to his and his chaddi society's followers that party can take their own soldiers life for the self benefit.

Long Live India

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