UP: No love marriages, rules village Panchayat

Thiruvananthapuram, Apr 20: Kerala Chief Minister Pinarayi Vijayan on Sunday alleged that efforts were being made to undermine the achievements of the state government in its fight against Covid-19 and said he was "ignoring" them as it was not the time for controversies.

The Opposition Congress has been raising allegations that a US-based company had been entrusted with the task of collecting data regarding the virus-infected patients in the state, in violation of fundamental rights.

"Many developed nations are in awe of the achievements of Kerala in its fight against Covid-19 pandemic. This is the speciality of Kerala model," Vijayan said. Referring to the data collection charge levelled by the opposition parties, Vijayan said some were engaged in slandering the state government.

"Those who think that the government should not have a reputation for effectively handling the coronavirus outbreak are engaged in slandering the state government. It has happened before, it's happening now also. This is not the time to go behind controversies. People are watching and they will evaluate," Vijayan said in his weekly interactive programme 'Naam munnott'.

He said he had decided to ignore such controversies. The ward-level committees, set up by the government for the anti-coronavirus fight, was collecting information of those under home isolation, elderly persons and those at the risk of the disease using a questionnaire in this regard and upload it on the server of the private agency. The Congress has alleged that the data, collected through the government machinery, was being uploaded not on the government server but on that of the foreign company.

New Delhi, May 23: India witnessed the biggest ever spike of 6,654 positive cases in the last 24 hours, taking the total number of COVID-19 cases to 1,25,101, according to the Union Ministry of Health and Family Welfare.

As many as 137 deaths have been reported in the last 24 hours, taking the death toll to 3,720.
Out of the total number of cases, 69,597 are active and 51,784 have been cured/discharged or have migrated.

Maharashtra continues to remain the worst-affected state with 44,582 COVID-19 cases. It is followed by Tamil Nadu (14,753), Gujarat (13,268), and Delhi (12,319).

The nationwide lockdown imposed as a precautionary measure to contain the spread of COVID-19 has been extended till May 31.

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.