'Padmavati' release postponed amid controversy

Mumbai, Jul 25: Movie theatres have been shuttered for months due to the coronavirus pandemic in the country, but the Information and Broadcasting Ministry has now recommended that the Union Home Ministry allow cinema halls to reopen in August. 

I&B Secretary Amit Khare indicated this at a close-door industry interaction with the CII Media Committee on Friday. He said Home Secretary Ajay Bhalla at the Home Ministry would take the final call.

Khare said that he has recommended that cinema halls may be allowed to reopen all over India as early as August 1, or at the latest, around August 31.

The formula suggested is that alternate seats in the first row and then the next row be kept vacant, and proceeding in this fashion throughout.

Khare said that his ministry's recommendation takes into consideration the two metre social distancing norm, but tweaks it gently to two yards instead. The Home Ministry, however, still has to revert on the recommendation.

Cinema owners, present in the interaction, however, pushed back and said this formula is unwise and merely running films at 25% auditorium capacity is worse than keeping the cinemas shut.

The attendees at the meet included media CEOs like N.P. Singh of Sony, Sam Balsara (Madison), Megha Tata, (Discovery), Gaurav Gandhi (Amazon Prime), Manish Maheshwari (Twitter), S. Sivakumar (Bennett Coleman and Co Ltd), and K Madhavan, Star & Disney, and also Chairman, CII Media Committee.

The OTT platforms present, including Gandhi of Amazon Prime, did not push back. Some Bollywood producers, notably those of Amitabh Bachchan's Gulabo Sitabo, have posted their movies on OTT, rather than live out the lockdown uncertainty.

Bhopal, Mar 4: Madhya Pradesh Chief Minister  Kamal Nath on Tuesday asserted that there was no threat to his government.

Nath's comments came when he was asked about reports of alleged 'poaching' attempts being made by the opposition BJP in the state.

“The legislators are telling me that they are being offered so much money. I am telling the MLAs to take it, if they are getting this free money,” Nath told reporters here on the sidelines of a programme.

Congress veteran Digvijaya Singh on Monday alleged that his party MLAs were being offered “huge money by BJP leaders” as part of the saffron party's “poaching” attempt to destablise the Kamal Nath government.

When Nath was asked about any threat to the stability of his government in Madhya Pradesh, he said, “There is nothing to worry about.”

Reacting to Nath's statement, state BJP spokesman Rajneesh Agrawal told PTI that his party has nothing to do with the allegations.

“In fact, these speculations and allegations are part of the internal bickering of among Congress leaders to get nominated for the Rajya Sabha polls,” he said.

After Digvijaya Singh's remarks on Monday, senior BJP leader and former chief minister Shivraj Singh Chouhan accused the Congress veteran of making false statements to create sensationalism.

“Speaking lies to create sensationalism is Digvijaya's habit. Probably some of his (Digivijaya's) works were not done and he wants to create pressure on the CM to get them done,” Chouhan alleged.

Feb 28: The best economic tonic for the coronavirus shock is to contain its spread and worry about stimulus later, said Raghuram Rajan, former head of the Reserve Bank of India.

There’s little central banks can do, and while more government spending would help, the priority should be on convincing companies and households that the virus is under control, he said.

“People want to have a sense that there is a limit to the spread of this virus perhaps because of containment measures or because there is hope that some kind of viral solution can be found,” Rajan told Bloomberg Television’s Haidi Stroud Watts and Shery Ahn.

“At this point I would say the best thing that governments can do is to really fight the epidemic rather than worry about stimulus measures that comes later,” said Rajan, who is currently a professor at the Chicago Booth School of Business.

The spread of coronavirus is pushing the world economy toward its worst performance since the financial crisis more than a decade ago.

Bank of America Corp. economists warned clients Thursday that they now expect 2.8% global growth this year, the weakest since 2009.

“We have moved from extreme confidence in markets to extreme panic, all in the space of one week,” said Rajan, who previously was chief economist at the International Monetary Fund.

The virus outbreak will force companies to rethink supply chains and overseas production facilities, he said.

“I think we will see a lot of rethinking on this, coming on the back of the trade disruption, now we have this,” Rajan said. “Globalization in production is going to be hit quite badly.”