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
March 16,2020

Manila, Mar 16: The Philippines has detected an outbreak of avian flu in a northern province after tests showed presence of the highly infectious H5N6 subtype of the influenza A virus in a quail farm, the country's farm minister said on Monday.

Agriculture Secretary William Dar said the bird flu virus, the same strain that hit some local poultry farms in 2017, was detected in Jaen municipality in Nueva Ecija province, where about 1,500 quails had died on one farm alone.

A total of 12,000 quails have been destroyed and buried to prevent further infections, Dar said, citing field reports.

"We are on top of the situation," he said. "Surveillance around the 1-km and 7-km radius will be carried out immediately to ensure that the disease has not progressed around the said perimeter."

Animal quarantine checkpoints have also been set up to restrict the movement of all live domestic birds to and from the quarantine area, he said.

"We would like to emphasise that this is a single case affecting one quail farm only," Dar said.

Dr. Arlene Vytiaco, technical spokeswoman for avian flu at the agriculture department, said that while there is a possibility of transmission to humans through excretion and secretion, "the chances are very slim".

"There is also zero mortality rate," she said.

Dar said his department and the local government were jointly conducting an investigation and contact-tracing to determine the source of infection.

To ensure steady domestic supply of poultry, he said the transport of day-old chicks, hatching eggs and chicken meat will be allowed provided the source farms have tested negative for bird flu.

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News Network
July 15,2020

New Delhi, Jul 15: Former Rajasthan deputy chief minister Sachin Pilot on Wednesday said that he is "not" joining the Bharatiya Janata Party (BJP).

"I am not joining BJP," said Pilot in a telephonic conversation with ANI.

The comments came a day after he was sacked as Rajasthan deputy chief minister and Pradesh Congress Committee chief by the party.

The decision to sack Pilot was taken yesterday after a CLP meeting at the Fairmont Hotel in Jaipur, Rajasthan.

At the meeting, as many as 102 MLAs unanimously demanded that Pilot should be removed from the party.

The Rajasthan Congress is in turmoil over the past few days. While chief minister Ashok Gehlot has blamed the BJP for attempting to destabilise the state government by poaching MLAs, Pilot has been camping in Delhi.

A controversy broke out in Rajasthan after special operation group (SOG) sent a notice to Pilot to record his statement in the case registered by SOG in the alleged poaching of Congress MLAs in the state.

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Agencies
June 7,2020

New Delhi, Jun 7: India registered its highest single-day spike of COVID-19 cases for the fifth consecutive day on Sunday, with 9,971 new infections taking the country's tally to 2,46,628, while the death toll rose to 6,929, according to the Union Health Ministry.

India registered 287 deaths in the 24 hours since Saturday morning.

India had raced past Spain on Saturday to become the fifth worst-hit nation by the COVID-19 pandemic. Now, only the US, Brazil, Russia and the UK are ahead of it.

The number of active COVID-19 cases stands at 1,20,406, according to the Health Ministry.

A total of 1,19,292 people have recovered and one patient has migrated, the Ministry said.

During the last 24 hours, a total of 5,220 COVID-19 patients have been cured, the ministry said.

"Thus, around 48.37 per cent patients have recovered so far," a senior ministry official said.

The tally of confirmed cases includes foreigners.

The Indian Council of Medical Research has further ramped up the testing capacity for detecting the novel coronavirus in infected persons.

The number of government labs has been increased to 531 and private labs to 228, taking the total number of labs to 759.

As many as 1,42,069 samples were tested in the last 24 hours, taking the total number of samples tested till now to 46,66,386.

Deaths in India per lakh population (0.49) are much lower than the world average of 5.17 and are the lowest among countries that have eased lockdown such as Germany (10.35), Italy (55.78), the UK (59.62) and Spain (58.06), as per a WHO situation report cited by the Health Ministry.

Cases in India per lakh population (17.32) are much lower than the world average of 87.74 and are the lowest among countries that have eased lockdown such as Germany (219.93), Italy (387.33), the UK (419.54) and Spain (515.61).

Of the 287 deaths reported since Saturday morning, 120 were from Maharashtra, 53 from Delhi, 29 from Gujarat, 19 from Tamil Nadu, 17 from West Bengal, 15 from Madhya Pradesh, 13 from Rajasthan, 10 from Telangana, three from Jammu and Kashmir, two each from Karnataka, Punjab and Chhattisgarh and one each from Kerala and Bihar.

Of the total 6,929 fatalities, Maharashtra tops the tally with 2,969 deaths, followed by Gujarat with 1,219 deaths, Delhi with 761, Madhya Pradesh with 399, West Bengal with 383, Uttar Pradesh with 257, Tamil Nadu with 251, Rajasthan with 231, Telangana with 123 and Andhra Pradesh with 73 deaths.

The death toll reached 59 in Karnataka and 50 in Punjab.

Jammu and Kashmir has reported 39 fatalities due to the disease, Bihar has 30, Haryana has 24 deaths, Kerala has 15, Uttarakhand has 11, Odisha has eight and Jharkhand has reported seven deaths so far.

Himachal Pradesh and Chandigarh have registered five COVID-19 fatalities each. Assam and Chhattisgarh have recorded four deaths each.

Meghalaya and Ladakh have reported one COVID-19 fatality each, according to the Health Ministry data.

According to the Ministry's website, more than 70 per cent of the deaths are due to comorbidities.

The highest number of confirmed cases in the country are from Maharashtra at 82,968, followed by Tamil Nadu at 30,152, Delhi at 27,654, Gujarat at 19,592, Rajasthan at 10,331, Uttar Pradesh at 9,733 and Madhya Pradesh at 9,228, according to the Health Ministry data updated in the morning.

The number of COVID-19 cases has gone up to 7,738 in West Bengal, 5,213 in Karnataka, 4,915 in Bihar and 4,510 in Andhra Pradesh.

It has risen to 3,952 in Haryana, 3,496 in Telangana, 3,467 in Jammu and Kashmir and 2,781 in Odisha.

Punjab has reported 2,515 coronavirus infections so far, while Assam has 2,397 cases. A total of 1,807 people have been infected with the virus in Kerala and 1,303 in Uttarakhand.

Jharkhand has registered 1,000 cases, Chhattisgarh has 923, Tripura has 747, Himachal Pradesh has 400, Chandigarh has 309 cases, Goa has 267, Manipur has 157, Nagaland has 107, and Puducherry and Ladakh have 99 cases.

Arunachal Pradesh has 47 COVID-19 cases, while Andaman and Nicobar Islands and Meghalaya have registered 33 infections each.

Mizoram has reported 24 cases and Dadar and Nagar Haveli has 19 cases, while Sikkim has reported seven cases till now.

"8,605 cases are being reassigned to states," the Ministry said on its website adding, "our figures are being reconciled with the ICMR."

State-wise distribution is subject to further verification and reconciliation, it added.

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