Two girls elope, marry each other in Bihar

New Delhi, May 24: The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report.

According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.

"The multiplier effect of the stimulus measures on the economy will depend on three key aspects i.e. the time taken for effecting the withdrawal of the lockdown, the efficacy of implementation and duration of execution of the measures announced," Dun & Bradstreet India Chief Economist Arun Singh said.

The report noted that the government's larger-than-expected stimulus package is likely to re-start economic activities.

Besides, measures taken by the Reserve Bank of India like reducing the repo rate by a further 40 basis points to 4 per cent, extending the moratorium period by three months and facilitating working capital financing will also help stimulate the momentum.

Singh said while the measures announced by the government are "positive", most of them have been directed towards strengthening the supply side of the economy, and "it is to be noted that supply needs to be matched with demand", he said.

Besides, "in the absence of cash-in-hand benefits under the government's stimulus package, demand for goods and services is expected to remain depressed", he added.

He further said the loss in income and employment opportunities, and cautiousness among consumers, will lead to a delayed recovery in consumer demand, even after the pandemic. As debt and bad loan levels increase, the banking sector might face challenges.

The report further noted that even as the monetary stimulus is expected to inject liquidity and stimulate demand for a wider section of the economy, the channelisation of funds from the financial institutions will be subjected to several constraints.

The foremost concern being increase in risk averseness, as the balance sheets of firms, households, and banks/NBFCs have weakened considerably and low demand for funds by firms as production activities have been on a standstill during the lockdown period, Singh said.

India has been under lockdown since March 25 to contain the spread of the coronavirus, resulting in supply disruptions and demand compression.

Prime Minister Narendra Modi imposed a nationwide lockdown to control the spread of coronavirus on March 25. It has been extended thrice, with some relaxations. The fourth phase of the lockdown is set to expire on May 31. 

New Delhi, Jun 29: India recorded 19,459 new coronavirus cases and 380 deaths in the last 24 hours.

According to the Ministry of Health and Family Welfare on Monday, the total coronavirus cases in the country stands at 5,48,318 including 2,10,120 active cases, 3,21,723 cured/discharged/migrated and 16,475 deaths.

Maharashtra's COVID-19 count touched 1,64,626 and cases in Delhi have reached 83,077.

The total number of samples tested up to 28 June is 83,98,362 of which 1,70,560 samples were tested yesterday, as per the data provided by the Indian Council of Medical Research (ICMR). 

New Delhi, Jun 17: Police Surender Jeet Kaur, Assistant Commissioner of Delhi Police Surender Jeet Kaur, has held herself responsible for the death of her husband Charan Jeet Singh, who succumbed to Covid at a hospital in Delhi.

“My husband didn’t step out of the house when the lockdown started, but I went out daily because of my job… I will never be able to forgive myself,” Kaur on Tuesday, a day after losing her husband.

54-year-old Singh, a resident of Lajpat Nagar and a businessman, is survived by his wife and their 26-year-old son who lives in Canada.

Kaur, 57, ACP (Crimes Against Women) in the South-East district of the Delhi Police, is also ACP (Covid Cell) of the district. On May 20, five days after Kaur tested positive for the virus, her husband Singh tested positive, followed by the ACP’s 80-year-old father on May 24.

All of them had symptoms and while Kaur and Singh were admitted to Indraprastha Apollo hospital, her father was admitted to Max hospital in Saket. On May 26, Kaur returned home after recovering from the virus.

Kaur said, “I last spoke to my husband on May 22 night, when we were both admitted in the hospital in different wards. The doctor called me and said that my husband needs to be put on ventilator support. I had a video call with my husband. He was breathless and told me that his oxygen level was dropping. He showed me the monitor, the doctors in the room, and then said he was having trouble speaking and that he would send me WhatsApp messages.”

A day after he passed away, Kaur recalled the messages that Singh sent her just before being put on ventilator support. “He started sending me details of our finances, accounts… I told him to stop and asked him why he was telling me all this. He said I needed to know… Maybe he feared he wouldn’t come back. I prayed every day, at temples, mosques, churches and gurdwaras for him. I am devastated that he’s gone. We were to move to Canada to live with our son in 2023 after my retirement. We had so many plans.”

Kaur’s brother Maninder Ahluwalia said the hospital tried plasma therapy but Singh didn’t respond to the treatment. “He had diabetes and high BP, but those were always under control. We were hopeful,” he said.

The couple’s son joined on video call from Canada to watch his father’s last journey from the ambulance to the entrance of the crematorium. “My son couldn’t attend his father’s last rites because there are no flights… It’s so unfortunate,” said Kaur.

Friends and family remember Singh as a “jolly, disciplined and brave man”, while Kaur said he was the “perfect partner”. She said, “When I was an SHO-rank officer, I would work for 36 hours straight some days, and he would handle the house and our son who was growing up. I would miss family functions and important occasions but he would always go and make up for my absence. I was able to do this job for decades because of his support.”

On Tuesday afternoon, Singh was cremated in the presence of close family and members of the police fraternity. “The DCP and the Joint CP called me daily to enquire about my husband, other police officers too. I am grateful for their support. They didn’t let me feel alone for a single day,” said Kaur.