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

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
January 6,2020

The Cambridge Analytica scandal is far from over. New explosive details leaked by a whistleblower shows that the extent of the rot is far deeper than previously thought.

An anonymous Twitter account, @HindsightFiles, has started releasing the documents, apparently on behalf of Brittany Kaiser, a former employee of the now defunct British data analytics and consulting company Cambridge Analytica.

"Democracies around the world are being auctioned to the highest bidder. We release the documents that explain how," reads the biography of the @HindsightFiles.

The document will reveal previously unreleased emails, project plans, case studies, negotiations and more spanning over 60 countries.

"Over the past two years I have given evidence to investigators, journalists and academics to analyse what happened at Cambridge Analytica, and how our data was used to influence democracies around the world. In the name of shedding light on these dark practices, I am releasing documents and emails in full for the public good," Kaiser, who worked with Cambridge Analytica from 2014 to 208, was quoted as saying.

"I do this to strengthen the case for data rights and enforcement of our electoral laws online globally. We should all be seeking more ethical digital future for ourselves and our children," added Kaiser who starred in the Oscar-shortlisted Netflix documentary "The Great Hack".

The details released so far includes links to material on the firm's activities in Malaysia, Kenya, Brazil and Iran, an addition to the John Bolton archive.

Over the next months, more than 100,000 documents relating to work in 68 countries are set to be released, according to a report in The Guardian.

More than one and a half year after the Cambridge Analytica scandal first became public, US regulators last month said that the now-defunct British data analytics and consulting company engaged in deceptive practices to harvest personal information from tens of millions of Facebook users for voter profiling and targeting.

According to Kaiser, the Facebook data scandal was part of a much bigger global operation designed to manipulate people in collaboration with governments, intelligence agencies, commercial companies and political campaigns.

The unpublished documents contain material that suggests the firm collaborated with a political party in Ukraine in 2017 even while under investigation as part of Robert Mueller's investigation into Russian interference in the 2016 US presidential election, said The Guardian report.

"There are emails between these major Trump donors discussing ways of obscuring the source of their donations through a series of different financial vehicles. These documents expose the entire dark money machinery behind US politics," Kaiser was quoted as saying.

Similar tactics were deployed in other countries that Cambridge Analytica operated in, including Britain, she claimed.

The files released by Kaiser suggest that Cambridge Analytica offered to help United Malays National Organisation (Umno), the party of Malaysia's Former Prime Minister Najib Razak, to influence the voting of 40 parliamentary constituencies in the 14th General Election (GE14) in 2013.

Umno, according to the leaks, requested the company to prepare a proposal to regain 13 seats, The South China Morning Post reported on Saturday.

In 2018, Razak claimed that he had never engaged Cambridge Analytica in any way.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
March 29,2020

A shrimp seller at the wet market in the Chinese city of Wuhan believed to be the centre of the coronavirus pandemic, may be the first person to have tested positive for the disease, a media report said on Saturday.

The report by the London-based Metro newspaper said that 57-year-old woman, named by the Wall Street Journal as Wei Guixian, was selling shrimp at the Huanan Seafood Market when she developed what she thought was a cold last December.

Chinese digital news outlet, The Paper has said that she may be epatient zero'.

Wei was told by doctors her illness was "ruthless" and other workers at the market had come to the Wuhan Union Hospital with the same symptoms, the Metro newspaper report quoted the outlet as saying.

"Every winter, I suffer from the flu, so I thought it was the flu," the woman was quoted as saying by The Paper news outlet.

The shrimp seller added that she believed she contracted the coronavirus from the shared toilet in the market.

She said the fatal disease would have killed fewer people if the government had acted sooner.

Wuhan Municipal Health Commission has confirmed that Wei was among the first 27 people to test positive for the coronavirus.

It said she was one of 24 cases with direct links to the market, the Metro newspaper reported.

Though Wei may be "patient zero", it does not mean she is the first person to have contracted the virus, added the Metro report.

Chinese researchers have claimed that the first person diagnosed with the airborne virus had no contact with the seafood market and was identified on December 1, 2019.

Wei was later quarantined when a connection was made between the bug and the market before recovering in January.

As of Saturday, the global number of coronavirus cases stood at 104,837 with 27,862 deaths, according to the latest update by the Washington-based Johns Hopkins University.

The US has the highest number of cases at 104,837, followed by Italy 86,498 and China 81,948.

Italy has recorded the highest number of fatalities with 9,134 deaths, followed by Spain and China, at 5,138 and 3,299, respectively.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 11,2020

New Delhi, Feb 11: As the counting of votes for the Delhi Assembly polls began, Congress leader Digvijaya Singh on Tuesday raised doubts on EVMs, alleging that no machine having a chip is tamper-proof.

He called upon the Election Commission and the Supreme Court to take a fresh look at the use of EVMs in the country.

"No machine (which) has a chip is tamper-proof. Also please do for a moment think, why no developed country uses EVM," Singh said in a tweet.

"Would CEC and Hon Supreme Court please have a fresh look on EVM voting in India? We are the largest democracy in the world, we can't allow some unscrupulous people to hack results and steal the mandate of 1.3 billion people.

"If they match the votes in the counting unit. Declare the result. If they don't match then count the ballots of all polling booths in the assembly. It would convince everyone and save time also as this has been the consistent argument of CEC in favour of EVM," the Congress leader said.

Polling for the 70-member Delhi Assembly polls was held on Saturday.

The Election Commission on Sunday announced that the final voter turnout was 62.59 per cent, five per cent less than 2015.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.