Rajnath says minorities key to nation-building

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.

New Delhi, Jul 18: The Covid-19 lockdown-led reduction in air pollution levels across five Indian cities, including Delhi and Mumbai, may have prevented about 630 premature deaths, and saved USD 690 million in health costs in the country, according to a new study.

Scientists, including those from the University of Surrey in the UK, assessed the levels of harmful fine particulate matter (PM2.5) from vehicles and other sources in five Indian cities -- Delhi, Mumbai, Kolkata, Chennai and Hyderabad -- since the beginning of the lockdown period.

The study, published in the journal Sustainable Cities and Society, compared these lockdown PM2.5 figures from 25 March up until 11 May, with those from similar periods of the preceding five years, and found that the measure reduced pollution levels in all these places.

According to the scientists, during this period, the levels of these harmful air pollutants reduced by 10 per cent in Mumbai, and by up to 54 per cent in Delhi.

"The percentage reduction for the other cities ranged from 24 to 32 per cent, which was slightly smaller than the measured values for Delhi and Mumbai," the scientists noted in the study.

"While the reduction in PM2.5 pollution may not be surprising, the size of the reduction should make us all take notice of the impact we have been having on the planet," said Prashant Kumar, a co-author of the study from the University of Surrey.

The scientists said these reductions in PM2.5 were comparable to those reported in other cities across the world, such as in Austria's capital Vienna (60 per cent), and Shanghai (42 per cent) in China.

They also calculated the monetary value of the reduced mortality due to air pollution and found that the lowered levels of PM2.5 may have saved 630 people from premature death, and USD 690 million in health costs in India.

Coronavirus India update: State-wise total number of confirmed cases, deaths on July 17

According to the researchers, the present lockdown situation offers observational opportunities regarding potential control systems and regulations for improved urban air quality.

They said an integrated approach might help in understanding the overall impacts of Covid-19 lockdown-style interventions and support the implementation of relevant policy frameworks.

"This is an opportunity for us all to discuss and debate what the 'new normal' should look like - particularly when it comes to the quality of the air we breathe," Kumar said.

New Delhi, April 5: The number of coronavirus cases in India has surged past 3500 with 505 new cases in the last 24 hours from across the country.

According to the Union Ministry of Health and Family Welfare, the total number of COVID-19 positive cases in the country has gone up to 3,577 as on Sunday. So far, 83 people have died of the coronavirus.

Among States, the tally in Maharashtra stood at 690. According to Maharashtra Health Minister Rajesh Tope, till now Mumbai has reported 29 positive cases, Pune 17, PCMC 4, Ahmednagar 3, Aurangabad 2 among others.

Here are the top developments of the day related to the pandemic.

1) Four new COVID-19 positive cases reported in Uttarakhand today, taking the total number of positive cases in the State to 26. Four persons have been treated and discharged till date, according to the Directorate of Health Services, Uttarakhand.

2) Prime Minister Narendra Modi today called up two former Presidents -- Pranab Mukherjee and Pratibha Patil and had a discussion on COVID-19 related issues. He also called up two former Prime Ministers -- Manmohan Singh and HD Deve Gowda -- to discuss COVID-19 situation.

3) The Prime Minister also called up leaders of various political parties like Sonia Gandhi, Mulayam Singh Yadav, Akhilesh Yadav, Mamata Banerjee, Naveen Patnaik, K Chandrashekar Rao, MK Stalin, Parkash Singh Badal and Mayawati.

4) Total coronavirus positive cases rose to 68 in Punjab after three more cases were reported today --- one each in Ludhiana, SAS Nagar and Barnala. The person found positive in Ludhiana had attended the Tablighi Jamaat event in Delhi.

5) No evidence of COVID-19 being airborne yet, according to the Indian Council of Medical Research (ICMR).

7) With 14 new cases in Kashmir division, the total number of positive cases in Jammu and Kashmir now at 106. Active cases in Kashmir -- 82 and Jammu -- 18, said Rohit Kansal, Principal Secretary, Planning, UT of Jammu and Kashmir.

8) "There is an insufficiency of Personal Protective Equipment (PPE) kits and N95 masks. We are in touch with the Centre and other agencies for supply. Receiving 15,000 PPE kits today. Requested Centre for 5 lakh PPE kits received 4,000 only," said Bihar's Principal Secretary, Health, Sanjay Kumar.

9) The total number of positive cases in Indore, Madhya Pradesh, till now is 122 after 9 more positive cases were found today, according to Indore Chief Medical and Health Officer Dr Praveen Jadia.

10) Union Health Minister Dr Harsh Vardhan visits AIIMS dedicated centre for COVID19 in Jhajjar, Haryana. He said: "All 162 patients admitted here are in stable condition."

11) 86 COVID-19 positive cases reported in Tamil Nadu today out of which 85 had attended the Tableeghi Jamaat event at Markaz Nizamuddin, Delhi, according to Beela Rajesh Tamil Nadu Health Secretary. There are 571 COVID positive cases in Tamil Nadu out of which 522 cases are from the people who had attended the religious function in Delhi, she said.

12) The Congress party on Sunday posed nine questions to the Centre, demanding compensation to the family of those, who died after battling with the coronavirus.

13) 47 new coronavirus positive cases reported in Rajasthan today, taking the total number of positive cases in the state to 253.

14) 8 new COVID-19 cases reported in Kerala, which include 6 imports and 2 contact cases, said Chief Minister Pinarayi Vijayan.

15) "PPE kits are imported. So there was a shortage initially in the country but the government started taking action in this regard from January. Domestic manufacturers have started production. We have also started procuring PPE kits from other countries," said Lav Aggarwal, Joint Secy, Health Ministry.