Mumbai, Mar 27: Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that Monetary Policy Committee (MPC) has taken note of the global economic activity coming to a near standstill due to the coronavirus pandemic and added that large parts of the world could slip into recession in the coming days to the coronavirus crisis.
"The MPC noted that global economic activity has come to a near stand-still as COVID-19 related lockdowns and social distancing are imposed across a widening swath of affected countries. Expectations of a shallow recovery in 2020, from 2019's decade low in global growth, have been dashed," Das said.
"The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the world will slip into recession," he added.
The RBI Governor further added that "the implied GDP growth of 4.7 per cent in Quarter 4 of 2019-20, in the second advance estimates of the National Statistics Office which was released in February 2020, within the annual estimate of 5 per cent for the year as a whole is now at risk."
As per the outlook for the year 2020-21, Das said, "Apart from continuing resilience of agriculture and allied activities most other sectors of the economy will be adversely impacted by the pandemic depending upon, its intensity, spread and duration."
Das also announced a reduction in the repo and reverse repo rates for banks.
"The repo rate has been reduced by 75 basis points to 4.4 per cent. The reserve repo rate has been reduced by 90 basis points to 4 per cent," Das said addressing the media.
The decision for "a sizeable reduction" in the policy repo rate, according to the RBI Governor was taken to "revive growth and mitigate the impact of COVID-19 and ensure financial stability."
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Rising probability that large parts of world will slip into recession due to COVID-19: RBI Governor
News Network
March 27, 2020
Press Council of India member B R Gupta resigns, cites deep crisis in media
Agencies
June 4,2020
New Delhi, Jun 4: Press Council of India (PCI) member BR Gupta has resigned from his post, saying he was unable to work individually or collectively for the media, which is in a "deep crisis".
"I have tendered my resignation as a Press Council of India member," Gupta told PTI.
He said the PCI had the responsibility to encourage media and media professionals constantly.
"But everyone now realises that the media scenario is in a deep crisis. The motto for which the Council was created was not being fulfilled and I felt I was not doing anything remarkable for the freedom of media," Gupta said.
He claimed that the PCI was not a wholly representative body for the media.
"Then how can we come out of the crisis being faced by the media and mediapersons? It is a big challenge for us. I have quit as I have not been able to work individually or collectively being a PCI member," Gupta added.
Referring to salary cuts and job losses, he said media and mediapersons were struggling for social, political and economic justice.
When contacted, PCI chairman Justice C K Prasad said Gupta's resignation has not been accepted yet.
"I have received it (the resignation). I have not gone through it. It has not been accepted," Prasad told PTI.
Gupta was appointed as a PCI member for a three-year term on May 30, 2018.
He said liberty is one of the basic features of the preamble to the Constitution that continues to inspire people and the media.
"It is difficult (for me) to fulfil the unbiased role and responsibility to help citizens and the media for making democracy stronger," Gupta said.
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After airlines suspension, Kunal Kamra claims he again approached Arnab Goswami on flight
News Network
January 29,2020
Mumbai, Jan 29: Unfazed by his suspension from flying on Tuesday, stand-up comedian Kunal Kamra on Wednesday claimed that he once again approached television journalist Arnab Goswami, who he said was his co-passenger on a flight from Lucknow, for an "honest discussion" but was turned away.
Kamra tweeted in the morning that "Arnab Goswami was again travelling in his flight while returning from Lucknow". "I again asked him politely if he wants to have a honest discussion he with his verbal arrogant hand jester he asked me to move away & I did that (sic)," he tweeted.
The comedian was suspended from flying by IndiGo and Air India on Tuesday after he allegedly heckled Goswami aboard a Mumbai-Lucknow plane and posted a video clip on his Twitter handle.
FYI - Arnab Goswami was in my
flight again this morning while returning from lucknow... I again asked him politely if he wants to have a honest discussion he with his verbal arrogant hand jester he asked me to move away & I did that...— Kunal Kamra (@kunalkamra88) January 29, 2020
While IndiGo suspended Kamra from flying with it for a period of six months, Air India banned him until further notice.
In a statement released on Twitter after he posted the video, Kamra said he did "exactly what Republic TV journalists do to people in their private/public spaces". Kamra stated he had not done anything criminal by allegedly heckling Goswami.
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Coronavirus is now spreading at the fastest pace in India
Bloomberg
July 27,2020
New Delhi, Jul 27: India’s coronavirus epidemic is now growing at the fastest in the world, increasing 20% over the last week to more than 14 lakh confirmed cases, according to Bloomberg’s Coronavirus Tracker.
Infections in the South Asian nation of 130 crore people have reached 14.3 lakh, including 32,771 deaths, India’s health ministry said, with daily cases close to a record 50,000 on Monday. India is only trailing the US and Brazil now in the number of confirmed infections, but its growth in new cases is the fastest.
Maharashtra, Tamil Nadu, Andhra Pradesh and Karnataka are among the states where the maximum number of daily cares are being reported. The world’s second-most populous country has been ramping up testing, with 515,472 samples taken on Sunday, according to the Indian Council of Medical Research.
Still, India and Brazil have some of the world’s lowest testing rates, with 11.8 tests and 11.93 tests per 1,000 people respectively, compared to the US with 152.98 tests per 1,000 and Russia with 184.34, according to Our World in Data, a project based at the University of Oxford in the UK.
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