Nana Patekar laughs off Tanushree’s harassment claim

Mar 21: Singer Sonu Nigam has decided to extend his stay in Dubai as he believes travelling amid the coronavirus outbreak can put people around him at risk.

The singer was in the Himalayas earlier and wanted to come to Mumbai for a concert scheduled for March 6 but it got postponed due to COVID-19 pandemic.

He then decided to head to Dubai to be with his wife and son and has been there since a few weeks.

"I am fortunate that my wife and my son are in Dubai. My son studies here and I keep travelling here a lot, Dubai is like my second base. But my father, sister are alone in India. I wanted to come back to India and be at my father's side but I realised that if I do that, I'll be exposing him to the risk of me carrying this virus, who knows the extent of the danger," Sonu told

The 46-year-old singer said everybody is taking precautions and he wants to ensure that the health of those around him isn't at risk.

"I thought let's not outsmart the virus. I thought it's better for me to stay for a bit (till things go normal). Coming back to India, and then going in quarantine will still be a risk.

"I came to Dubai and I thought I'll be able to go back to India but I didn't know it's going to be such an issue eventually. But we are fine here."

On Friday, singer Kanika Kapoor become the first Bollywood celebrity to test positive for the deadly virus in the country and has said she is under complete quarantine and medical care.

The UP police later booked the singer for negligence and committing acts that are likely to spread disease dangerous to life after she attended at least three gatherings in Lucknow, including a party where political leaders were present.

When asked if his decision of staying back was in anyway related to what happened to Kanika, Sonu said that wasn't the case.

"The last time I was contemplating coming to India was on March 16 night, but thankfully my flight got cancelled. Then from March 17, there was this regulation from the government of India that you have to go on a self quarantine for 14 days, compulsorily. I decided I shouldn't take a chance. Being a potential carrier is the worst thing," he said

In Dubai, the singer said the family is taking extreme precautions.

"We all are being safe, staying indoors, not gathering with many people. Careless people shouldn't be around you at this point, people who are too brash, that 'oh nothing will happen.' I don't allow such people in my vicinity. I'm.very hygiene conscious anyway." said the singer.

Sonu said he will be conducting a live music concert on his social media on Sunday.

New Delhi, Jun 23: The meeting between Indian Army's 14 Corps Commander Lt Gen Harinder Singh and his Chinese counterpart got over after around 11 hours, sources said.

"Today's meeting between the Corps Commander-level officers of India and China is over. The meeting which started at 11:30 am went on for around 11 hours. More details awaited," sources said.

The meeting started at around 11:30 am at Moldo on the Chinese side of Line of Actual Control (LAC) opposite Chushul to defuse the tensions in Eastern Ladakh sector due to Chinese military build-up, the sources said.

This is the second meeting between the two corps commanders. They had met on June 6 and had agreed to disengage at multiple locations. India had asked the Chinese side to go back to pre-May 4 military positions along the LAC.

The Chinese side had not given any response to the Indian proposal and not even shown intent on the ground to withdraw troops from rear positions where they have amassed over 10,000 troops.

India is also likely to discuss the change in rules of engagement on the LAC where the forces have been empowered to use firearms in extraordinary circumstances, sources had said.

They said India will also ask China to honour the commitment given during June 6 talks to disengage in the Galwan valley completely and other places.

The build-up of Chinese air assets including strategic bombers by the PLA Air Force in fields near Indian territory close to Ladakh is also likely to figure in discussions.

India and China have been involved in talks to ease the ongoing border tensions since last month.

However, last week as many as 20 Indian soldiers lost their lives in the face-off in the Galwan Valley after an attempt by the Chinese troops to unilaterally change the status quo during the de-escalation in eastern Ladakh.

The Indian intercepts have revealed that the Chinese side suffered 43 casualties including dead and seriously injured in the violent clash.

New Delhi, May 27: India’s fourth recession since Independence, first since liberalisation, and perhaps the worst to date is here, according to rating agency, Crisil.

CRISIL sees the Indian economy shrinking 5 per cent in fiscal 2021 (on-year), because of the Covid-19 pandemic. The first quarter will suffer a staggering 25 per cent contraction.

About 10 per cent of gross domestic product (GDP) in real terms could be permanently lost. "So going back to the growth rates seen before the pandemic is unlikely in the next three fiscals", Crisil said.

Crisil has revised its earlier forecast downwards. "Earlier, on April 28, we had slashed our prediction to 1.8 per cent growth from 3.5 per cent growth. Things have only gone downhill since", it said.

While we expect non-agricultural GDP to contract 6 per cent, agriculture could cushion the blow by growing at 2.5 per cent.

In the past 69 years, India has seen a recession only thrice as per available data in fiscals 1958, 1966 and 1980. The reason was the same each time a monsoon shock that hit agriculture, then a sizeable part of the economy.

"The recession staring at us today is different," it added. For one, agriculture could soften the blow this time by growing near its trend rate, assuming a normal monsoon. Two, the pandemic-induced lockdowns have affected most non-agriculture sectors. And three, the global disruption has upended whatever opportunities India had on the exports front.

Economic conditions have slid precipitously since the April-end forecast of 1.8 per cent GDP growth for fiscal 2021 (baseline), Crisil said.

On the lockdown extension, it said that the government has extended the lockdown four times to deal with the rising number of cases, curtailing economic activity severely (lockdown 4.0 is ending on May 31).

The first quarter of this fiscal will be the worst affected. June is unlikely to see major relaxations as the Covid-19 affliction curve is yet to flatten in India.

"Not only will the first quarter be a washout for the non-agricultural economy, services such as education, and travel and tourism among others, could continue to see a big hit in the quarters to come. Jobs and incomes will see extended losses as these sectors are large employers," Crisil said.

CRISIL also foresees economic activity in states with high Covid-19 cases to suffer prolonged disruption as restrictions could continue longer.

A rough estimate based on a sample of eight states, which contribute over half of India's GDP, shows that their 'red zones' (as per lockdown 3.0) contributed 42 per cent to the state GDP on average regardless of the share of such red zones.

On average, the orange zones contribute 46 per cent, while the green zones where activity is allowed to be close to normal contribute only 12 per cent to state GDP.

The economic costs are higher than earlier expectations, according to Crisil. The economic costs now beginning to show up in the hard numbers are far worse than initial expectations.

Industrial production for March fell by over 16%. The purchasing managers indices for the manufacturing and services sectors were at 27.4 and 5.4, respectively, in April, implying extraordinary contraction. That compares with 51.8 and 49.3, respectively, in March.

Exports contracted 60.3 per cent in April, and new telecom subscribers declined 35 per cent, while railway freight movement plunged 35 per cent on-year.

"Indeed, given one of the most stringent lockdowns in the world, April could well be the worst performing month for India this fiscal," it said.

Added to that is the economic package without enough muscle. The government recently announced a Rs 20.9 lakh crore economic relief package to support the economy. The package has some short-term measures to cushion the economy, but sets its sights majorly on reforms, most of which will have payoffs only over the medium term.

"We estimate the fiscal cost of this package at 1.2 per cent of GDP, which is lower than what we had assumed in our earlier estimate (when we foresaw a growth in GDP)," it said.

"We believe a catch-up to the pre-crisis trend level of GDP growth will not be possible in the next three fiscals despite policy support. Under the base case, we estimate a 10 per cent permanent loss to real GDP (from the decadal-trend level), assuming average growth of about 7 per cent between fiscals 2022 and 2024," Crisil said.

Interestingly, after the Global Financial Crisis (GFC), a sharp growth spurt helped catch up with the trend within two years. GDP grew 8.2 per cent on average in the two fiscals following the GFC. Massive fiscal spending, monetary easing and swift global recovery played a role in a V-shaped recovery.

To catch-up would require average GDP growth to surge to 11 per cent over the next three fiscals, something that has never happened before.

The research said that successive lockdowns have a non-linear and multiplicative effect on the economy a two-month lockdown will be more than twice as debilitating as a one-month imposition, as buffers keep eroding.

Partial relaxations continue to be a hindrance to supply chains, transportation and logistics. Hence, unless the entire supply chain is unlocked, the impact of improved economic activity will be subdued.

Therefore, despite the stringency of lockdown easing a tad in the third and the fourth phases, their negative impact on GDP is expected to massively outweigh the benefits from mild fiscal support and low crude oil prices, especially in the April-June quarter. "Consequently, we expect the current quarter's GDP to shrink 25 per cent on-year," it said.

Counting lockdown 4.0, Indians have had 68 days of confinement. S&P Global estimates that one month of lockdown shaves 3 per cent off annual GDP on average across Asia-Pacific.

Since India's lockdown has been the most stringent in Asia, the impact on economic growth will be correspondingly larger.

Google's Community Mobility Reports show a sharp fall in movement of people to places of recreation, retail shops, public transport and workplace travel. While data for May shows some improvement in India, mobility trends are much below the average or baseline, and lower compared with countries such as the US, South Korea, Brazil and Indonesia.