Leaders are feeling suffocated in Cong: Amit Shah asks party to self-introspect

Bengaluru, Feb 3: India's manufacturing activity expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing.

In response to the jump in sales, factories hired new workers at the fastest rate in more than seven years.

If sustained, the improvement in business conditions could point to a gradual economic recovery in coming months, as forecast by analysts in a Reuters poll last month, after growth slowed to a more than six-year low in the July-September quarter.

The Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, jumped to 55.3 last month from 52.7 in December. It was the highest reading since February 2012 and above the 50-mark separating growth from contraction for the 30th straight month.

"The PMI results show that a notable rebound in demand boosted growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business," Pollyanna De Lima, principal economist at IHS Markit, said in a news release.

A new orders sub-index that tracks overall demand hit its highest level since December 2014 and output grew at its fastest pace in over seven and a half years, pushing manufacturers to hire at the strongest rate since August 2012.

Meanwhile, both input costs and output prices rose at a slower pace, indicating overall inflation may have eased after hitting a more than five year high of 7.35% in December, although probably not below the Reserve Bank of India's medium-term target of 4%.

That might keep the central bank, which cut its key interest rate by a cumulative 135 basis points last year, on the sidelines over the coming months.

"To complete the good news, there was also an uptick in business confidence as survey participants expect buoyant demand, new client wins, advertising and product diversification to boost output in the year ahead," added De Lima.

New Delhi, Jul 21: The Enforcement Directorate is understood to have initiated a process to freeze over 60 bank accounts in the country on the request of the Brazilian government in connection with a money laundering case in that country, offiicials said on Monday.

They said the agency has undertaken the action under the provision of the Prevention of Money Laundering Act (PMLA) in pursuance of a mutual agreement between the two nations to combat financial crimes.

The over 60 bank accounts are held by some individuals and businessmen based in the country, they said.

The probe, they said, is linked to some high profile people of Brazil.

The suspected accounts sought to be frozen by the Enforcement Directorate (ED), on behalf of the Brazilian government, are stated to be of banks in Delhi and Mumbai, they added.

New Delhi, May 26: As India ranked 10th in the global infection list, overtaking Iran, which was an early hotspot of coronavirus, India's top medical body has said the human trials of COVID-19 vaccine may begin at least in six months.

Dr. Rajni Kant, Director Regional Medical Research Centre and Head at the Indian Council of Medical Research (ICMR) said, "The virus strain isolated at the National Institute of Virology (NIV) laboratory in Pune will be used to develop the vaccine, and this strain has been successfully transferred to the Bharat Biotech International Ltd. (BBIL). It is expected that the human trials of the vaccine will begin in at least six months."

Queried on the focus areas as India inches closer to 1.4 lakh COVID-19 cases, Kant said we should not get anxious about the rapid increase in numbers, especially in the past week, which saw 5,000 Covid-19 cases daily, instead focus on protecting the most vulnerable group.

"We should not fear from increasing Covid-19 cases. The elderly and people with comorbidities need protection. This is the highly vulnerable group, and we need to deploy resources and develop strategies to keep the mortality rate as low as possible in this group," said Kant.

Initially, it was assumed that the country would require thousands of ventilators, but last week, the health ministry said only 0.45 per cent of COVID-19 cases need ventilator support.

Kant insisted the focus should be on five per cent to 10 per cent serious patients. "We are testing more than one lakh daily and our case fatality rate is already one of the lowest in the world. In absence of vaccine, people should follow social distancing guidelines," he added

On the significance of the recovery rate, Kant said the increasing recovery rate of the COVID-19 patients, which is at 41 per cent, is a bright spot in India's fight against deadly viral infection.

Queried on large scale COVID-19 cases in Mumbai, Delhi and Ahmedabad, Kant said the population density in these regions is very high, which proves to be the just right environment for the viral infection.

He insisted on developing robust cluster management strategies in the hard-hit coronavirus spots, and the movement of people should be curtailed in these areas.

"Currently, a lot of people are moving around easily and avoiding social distancing norms. The first phase of the lockdown was very effective, but now things have changed," added Kant.