India tests nuclear-capable Prithvi-II missile

Pune, Jan 21: The Pune session court on Tuesday rejected the bail application of accused Vikram Bhave in the Dabholkar murder case.
Last year, Pune Sessions Court had granted an extension of 90 days to the Central Bureau of Investigation (CBI) to file a charge-sheet against Bhave.

On August 17, 2019, the court had rejected Bhave's bail plea.

During the course of hearing, Special Public Prosecutor (SPP) Prakash Suryavanshi, appearing for the CBI, had in June last year contended that Bhave helped the assailants to escape.

The CBI had arrested Bhave and another accused Sanjeev Punalekar from Mumbai on May 25, 2019 in connection with the matter.

Founder of the Maharashtra Andhashraddha Nirmoolan Samiti (MANS), Dabholkar was shot dead by bike-borne assailants while returning home from a morning walk on August 20, 2013. 

New Delhi, Jun 30: Short video making app TikTok, one of the 59 apps banned by the Central government on Tuesday, has said that it complies with all data privacy and security requirements under the Indian law and has not shared any information of its users in India with any foreign government, including the Chinese Government.

Taking to microblogging site Twitter, Tiktok India posted the statement issued by Nikhil Gandhi, Head of TikTok, India.

"The Government of India has issued an interim order for the blocking of 59 apps, including TikTok and we are in the process of complying with it. We have been invited to meet with concerned government stakeholders for an opportunity to respond and submit clarifications. TikTok continues to comply with all data privacy and security requirements under Indian law and has not shared any information of our users in India with any foreign government, including the Chinese Government," reads the statement.

"Further, if we are requested to in the future we would not do so. We place the highest importance on user privacy and integrity. TikTok has democratized the internet by making it available in 14 Indian languages, with hundreds of millions of users, artists, story-tellers, educators and performers depending on it for their livelihood, many of whom are first-time internet users," the statement further reads.

Amid border tensions with China in Eastern Ladakh, the Centre had on Monday banned 59 mobile apps including Tik Tok, UC Browser and other Chinese apps "prejudicial to sovereignty and integrity and defence" of the country.

A senior official at the IT ministry said the prime reason to block the apps under section 69 A of Information Technology Act is to stop the violation and threat to the security of the state and public order and to plug the data leaks.

"Almost all of them have some preferential Chinese interest. Few are from countries like Singapore. However, the majority have parent companies which are Chinese," the official said.

This move will safeguard the interests of crores of Indian mobile and internet users. This decision is a targeted move to ensure safety and sovereignty of Indian cyberspace, Ministry of Information Technology said.

New Delhi, Feb 29: India’s economy expanded at its slowest pace in more than six years in the last three months of 2019, with analysts predicting further deceleration as the global Covid 19 coronavirus outbreak stifles growth in Asia’s third-largest economy.

The gross domestic product (GDP) data released yesterday showed government spending, private investment and exports slowing down, while there is a slight upturn in consumer spending and improvement in rural demand lent support.

The quarterly figure of 4.7% growth matched the consensus in a Reuters poll of analysts but was below a revised - and greatly increased - 5.1% rate for the previous quarter.

The central bank has warned that downside risks to global growth have increased as a result of the coronavirus epidemic, the full effects of which are still unfolding.

Prime minister Narendra Modi’s government has taken several steps to bolster economic growth, including a privatisation push and increased state spending, after cutting corporate tax rates last September.

In its annual budget presented this month, the government estimated that annual economic growth in the financial year to March 31 would be 5%, its lowest for last 11 years.

Modi’s government is targeting a slight recovery in growth to 6% for 2020/21, still far below the level needed to generate jobs for millions of young Indians entering the labour market each month.

The annual GDP figure for the September quarter was ramped up from an earlier estimate of 4.5%, while the April-June reading was similarly lifted to 5.6% from 5%, data released by the Ministry of Statistics showed on Friday.

Capital Investment Drop

In the December quarter, private investment grew 5.9%, up from 5.6% in the previous quarter, while government spending rose by 11.8%, against 13.2% in the previous three months.

However, corporate capital investment contracted by 5.2% after a 4.1% decline in the previous quarter, indicating that interest rate cuts by the central bank have failed to encourage new investment. Manufacturing, meanwhile, contracted by 0.2%.

“It appears growth slowdown is not just cyclical but more entrenched with consumption secularly joining the slowdown bandwagon even as the investment story continues to languish,” said Madhavi Arora of Edelweiss Securities in Mumbai.

Many economists said that the government stimulus could take four to six quarters of time before lifting the economy and the impact of those efforts could be outweighed by the global fallout from the coronavirus epidemic that began in China.

“The coronavirus remains the critical risk as India depends on China for both demand and supply of inputs,” said Abheek Barua, chief economist at HDFC Bank.

Indian shares sank on Friday for a sixth session running, capping their worst week in more than a decade. The NSE Nifty 50 index shed 7.3% over the week, while the Sensex dropped 6.8%, the worst weekly declines since the 2008-09 financial crisis.

Separately, India’s infrastructure output rose 2.2% year on year in January, data showed on Friday.

A spike in inflation to a more than 5-1/2 year high of 7.59% in January is expected to make the RBI hold off from further cuts to interest rates for now, while keeping its monetary stance accommodative.