Rajasthan Assembly passes resolution against CAA

Global health experts on Wednesday said novel coronavirus is here to stay for more than a year and called for aggressive testing to prevent its spread.

In an interaction with Congress leader Rahul Gandhi, health experts Professor Ashish Jha and Professor Johan Giesecke talked about the COVID-19 pandemic as part of the series being aired on Congress social media channels.

While Jha exuded confidence that a vaccine will be available in a year's time, Prof Giesecke said India should practice a lockdown that is as 'soft' as possible, as a severe lockdown will ruin its economy very quickly.

"When the economy is opened up after lockdown, you have to create confidence among people," Harvard health expert Ashish Jha told Gandhi.

Jha is a professor of Global Health at TH Chan School of Public Health and Director, Harvard Global Health institute.

He said coronavirus is a '12-18 months' problem and the world is not going to be free of this till 2021.

The expert also called for the need for aggressive testing strategy for high-risk areas.

Gandhi, while interacting with the experts, said life is going to change post COVID-19.

"If 9/11 was a new chapter, this will be a new book," he remarked.

Professor Johan Giesecke, former chief scientist, European Centre for Disease Prevention and Control said India should have a 'soft lockdown'.

"The situation that India is in, I think, you should have a soft lockdown, as soft as possible," he said.

"I think for India, you will ruin your economy very quickly if you have a severe lockdown. It is better, skip the lockdown, take care of the old and the frail...," he noted.

New Delhi, Jun 23: "Coming up with a clinically tested, evidence-based medicine was a challenge," said Yoga Guru Ramdev as on Tuesday he launched Patanjali's Coronil tablet, which he claims is a cure for COVID-19. He also talked about various other immunity boosters at an event here during the launch.

Patanjali claims those administered the medicine were fully cured and none died. Ramdev even claimed that 69 per cent of them recovered within 3 days.

"We appointed a team of scientists after COVID-19 outbreak," said Balkrishna, Ramdev's close aide and MD of Patanjali Ayurved. He added that Patanjali conducted a clinical case study on hundreds of positive patients.

Patanjali has claimed that the clinical trials which were controlled in nature, was jointly conducted by Patanjali Research Institute which is based out of Haridwar and the National Institute of Medical Sciences, Jaipur.

Talking about the clinical trials, Ramdev said, "Under this 280 patients were included and 100 per cent of those recovered." He added they were able to control Coronavirus and its complications.

He said that in the next few days, data of the trail will be released as evidence to bolster claims. There are now over 9 million people affected by the pandemic since it broke out in China's Wuhan city in December 2019.

He said Ayurvedic elements are being used in the tablet. "There are more than 100 compounds used in the Coronil," he added. An entire kit is being made for that which consists of other Ayurvedic medicine as well which helps in immunity. The entire kit comes at Rs 600. However, he claimed that it will be given for free to those living below the poverty line.

As for doses, Panajali prescribes: "2-2 tablets should be consumed with hot water half an hour after meals. The above mentioned drug intake and quantity is suitable for people between 15 to 80 years of age. Half the amount of the above mentioned medicines can be used for children between the age of 6 to 14 years." These are the written instructions on the pack.

India has been battling the pandemic with close to 4 lakh cases in India on Tuesday and around 14,000 deaths so far.

New Delhi, Jul 16: With India's economic growth sputtering, the Reserve Bank of India was expected to maintain a rate-cutting cycle, but an uptick in near-term inflation could give the central bank's Monetary Policy Committee reason to pause for now.

Having cut its key lending rate by an aggressive 115 basis points (bps) in 2020, on top of 135 bps cuts in 2019, the RBI so far has had little success in spurring credit growth amid varying degrees of lockdowns across India.

Some economists and market insiders argue it may be prudent for the MPC, the policy committee, to hold its fire when it meets early next month.

"It's probably too early to administer a demand stimulus. The RBI still has room to cut rates, but we probably want to be more cautious of the timing," said Venkat Pasupuleti, portfolio manager at Dalton Investments.

"Maybe they should wait a quarter to see how things pan out once the lockdown situation is eased further."

Market participants have factored in at least a 25 bps rate cut by the MPC on August 6 while analysts are predicting a total 50-75 bps cuts over the rest of the fiscal year that runs to March 31.

The spike in the retail inflation rate above the RBI's mandated 2%-4% target range is another reason for the central bank to take a breather, analysts say.

Annual retail inflation rose to 6.09% in June, compared to 5.84% in March and sharply above a 5.30% median forecast in a Reuters poll of economists.

Rahul Bajoria, an economist at Barclays, said the spike in both consumer and wholesale prices "could lead to a tempering in enthusiasm for material front-loaded policy support from here on."

Almost all economists however agreed the RBI cannot move away from its accommodative stance or call an end to the rate cutting cycle just yet.

India's economy grew at 3.1% in the March quarter - an eight year low - and some economists have predicted a contraction of more than 20% in the June quarter and a contraction of up to 5% in the fiscal year.

"Even in the event of a pause, we think the RBI and MPC would want to hold out the promise of more cuts," said A. Prasanna, economist with ICICI Securities.

RBI Governor Shaktikanta Das said in a recent speech the need of the hour is to restore confidence, preserve financial stability, revive growth and recover stronger, suggesting inflation concerns are unlikely to deter the downward trajectory for rates too soon.

"The August policy decision would boil down to a judgment call over whether RBI can maintain easy monetary and financial conditions without the aid of a token rate cut," Prasanna said.