Nalin Kumar Kateel replaces BSY as Karnataka BJP chief

Washington, Feb 1: The Indian economy experienced some abrupt slowdown in 2019 due to turbulence in non-banking financial institutions and major reform measures such as GST and demonetisation, but it is not in a recession, IMF Managing Director Kristalina Georgieva has said.

"The Indian economy indeed has experienced an abrupt slowdown in 2019. We had to revise our growth projections, downwards to four percent for last year. We are expecting 5.8 per cent (growth rate) in 2020 and then an upward trajectory to 6.5 percent in 2021," Georgieva told a group of foreign journalists here on Friday.

"It appears that the main reason for this slowdown was the non-banking financial institutions experiencing a turbulence," she said on the eve of Union Finance Minister Nirmala Sitharaman presenting the annual budget in Parliament on Saturday.

She said India had undertaken some important reforms that over the longer term would be beneficial for the country, but they do have some short-term impact.

"For example, coming with the unified tax system, and the demonetisation that took place. These are steps that over time are beneficial, but of course they might, might be somewhat disruptive over short term," Georgieva said in response to a question.

The International Monetary Fund (IMF) Managing Director said that there is not a lot of fiscal space in India. “But we also recognise that the policies of the government on that side, on the fiscal side have been prudent. We will see how the reading of the budget, the submission of the budget goes, tomorrow,” she said.

In the medium-term, she said, the IMF remains optimistic about India. “This is why we see that upswing potential for the growth in the country,” she said.

Georgieva said that the current economic slowdown cannot be described as a recession. "No.... You're far from that. But it is a significant slowdown, not the recession," she said.

The IMF managing Director noted that the consumption in India also slowed down and that contributed to the overall slowdown in the economy. The IMF would be keen to see what India does to get relatively sound macroeconomic fundamentals to pay off in terms of better growth trajectory, she said ahead of the budget.

One thing that is important for India is that budgetary revenue have been below target. "The country knows that. The finance minister knows it. They need to increase budgetary revenue collection so they can improve their fiscal position. I said it's tight on the spending side, but I also want to stress that there is room to improve collection on the revenue side," she said.

Mangaluru, Apr 23: Muslims in coastal Karnataka will fast tomorrow (April 24) along with Middle Eastern Muslims as the Khazis in the region have confirmed the beginning of the blessed month of Ramadan tonight.

Religious authorities in Saudi Arabia and a few Middle Eastern countries have already declared that Friday will be the start of the month of fasting.

In Kerala and twin districts of coastal Karnataka - Dakshina Kannada and Udupi- the announcement was made following maghrib praers as the cresent moon was sighted in a few places in Kerala.

The Thakbeer was pronounced from the minarets of the mosques across Dakshina Kannada and Udupi after Maghrib Namaz as the religious heads confirmed the moon sighting. 

However, the religious heads including Mangaluru Khazi Twaqa Ahmed Musliar and Udupi Khazi Ibrahim Musliyar Bekal, have urged the Muslims to offer all the prayers including Taraveeh at homes along with family members due to the lockdown imposed to prevent the spread of coronavirus. 

There will be no congregational taraveeh prayers in mosques and Muslims should follow the covid-19 guidelines of the government, they stated.

Ramadan begins around 11 days earlier each year. Its start is calculated based on the sighting of the new moon, which marks the beginning of the Muslim lunar month that varies between 29 or 30 days.

During the month, Muslims are expected to abstain during daylight hours from food, drink, smoking and sex to focus on spirituality.

Bengaluru, June 21: An assistant sub-inspector of police who was undergoing treatment for COVID-19 infection in city-based Victoria hospital passed away on the intervening night of Saturday and Sunday as he did not respond to the treatment for coronavirus.

The 59-year-old ASI was attached to the Wilson Garden traffic police station in Bengaluru. He tested positive for coronavirus on June 18 and was rushed to the COVID ward in Victoria hospital on June 19. He had fever for the last four days. His wife and two children have been quarantined. According to the police, the station has not yet been sealed down and no policemen have been quarantined.

The Wilson Garden ASI is the third Bengaluru police personnel to die of COVID-19 in the last one week. Earlier, an ASI from the VV Puram traffic police station had died undergoing treatment. On Saturday morning, a head constable from the Kalasipalya police station who was admitted at Victoria hospital passed away. The series of deaths in the police department has created fear among other policemen across the city.

One the other hand, dozens of policemen were tested positive in different parts of Karnataka today including 21 from two police stations of Bengaluru. 

Around 15 policemen from the Kalasipalya police station and five policemen from the Ashok Nagar traffic police station tested positive for coronavirus on Sunday.

In Kalasipalya, three ASIs, head constables and police constables have tested positive. In Ashok Nagar traffic police station, a probationary sub-inspector, an ASI, two police constables and a lady constable tested positive for the virus.

One more police constable working in Bandepalya police station also tested positive. Seven policemen who were in his primary contacts have been quarantined. BBMP officials have begun the process of fumigating the station premises and its surroundings.