Rs 15 lakh promised by PM Modi doesn't come under RTI Act: PMO

Davos, Jan 24: Pakistan Prime Minister Imran Khan claimed that he met with a “brick wall” when he approached Indian Prime Minister Narendra Modi with a peace proposal, soon after assuming office.

In an interview to Foreign Policy magazine on the sidelines of WEF 2020 here, Khan also said he told Modi that Pakistan will act firmly if it was given evidence of any involvement in the Pulwama terror attack, but India instead “bombed” Pakistan.

Tensions have escalated between the two countries, following India withdrawing the special status of Jammu and Kashmir in August 2019. Even since, Khan has been trying to seek global intervention to de-escalate the tensions between the two countries.

On Thursday, India's External Affairs Ministry spokesperson Raveesh Kumar categorically ruled out any third party role on the Kashmir issue, asserting that any issue between the two countries should be resolved bilaterally.

In the interview, Khan said that he is a firm believer that military means are not a solution to ending conflicts. “After assuming office, I immediately reached out to Prime Minister Modi. I was amazed by the reaction I got, which was quite weird.

The subcontinent hosts the greatest number of poor people in the world, and the best way to fight poverty is to have a trading relationship between the two countries rather than spending money on arms. This is what I said to the Indian Prime Minister. But I was met by brick wall,” Khan said.

Khan took charge as Prime Minister in August 2018. Referring to the suicide attack in Pulwama, Khan said he immediately told Modi ,“if you can give us any actionable intelligence (that Pakistanis were involved), we will act on it. But rather than do so, they bombed us.”

Noting that the both countries are not close to conflict right now, Khan said that it is important that the UN and the US act.

When asked about US President Donald Trump’s close relationship with Modi, Khan said the relationship is understandable because India is a huge market. “My concern is not about the US-India relationship. My concern is the direction in which India is going,” Khan said.

Khan also sought to compare the events in India to what happened in Nazi Germany.

“Between 1930 and 1934, Germany went from a liberal democracy to a fascist, totalitarian, racist state. If you look at what is happening in India under the BJP in the last five years, look where it's heading, you'll see the danger. And you're talking about a huge country of 1.3 billion people that is nuclear-armed,” he said.

Warangal, Jul 22: Amid the COVID-19 pandemic, an outlet in Telangana's Warangal has started selling 'anti-corona' tea. The tea has become an instant hit with the locals as the beverage is laced with natural immunity-boosting ingredients.

"We sell tea named 'anti-corona'. It has natural immunity-boosting ingredients such as ginger, black pepper, cinnamon powder, among other things. A mixture of these ingredients boosts our immunity," Shiva, the owner of the tea shop said.

"Better immunity is needed to fight the coronavirus infection in the body. So we have started preparing this tea and selling it during the coronavirus pandemic," he added.

Prabhakar, a customer at the tea stall said, the tea was a "corona special tea," and it has Ayurvedic mixtures which help to boost the immunity of the human body.

"The tea is prepared after adding the Ayurveda mixtures to milk. This is good for your health. I, along with my family members and friends, come here every day. We drink this tea thrice a day," Prabhakar added.

According to the Union Health Ministry, there are 46,274 COVID-19 cases in Telangana. Meanwhile, India's coronavirus count stood at 11,92,915 on Wednesday morning.

Jan 24: India’s economy appears to be shaking off a slump, as activity in the services and manufacturing sectors expanded for a second straight month in December.

The needle on a gauge measuring so-called animal spirits signaled the economy may be taking a turn for the better, as five of the eight high-frequency indicators tracked by Bloomberg News came in stronger last month. The dial was last at the current position in August.

“Animal spirits” is a term coined by British economist John Maynard Keynes to refer to investors’ confidence in taking action, and the gauge uses the three-month weighted average to smooth out volatility in the single-month numbers.

The nascent recovery would need a helping hand, with expectations building that Finance Minister Nirmala Sitharaman will provide some stimulus when she presents the budget Feb. 1. Official forecasts show the economy is set to expand at 5% in the year ending March 2020 -- the weakest pace in more than a decade.

Here are the details of the dashboard:

Business Activity

The dominant services index rose to the highest level in five months in December as improving new work orders helped boost activity. The seasonally adjusted Markit India Services PMI index climbed to 53.3 from 52.7 in November, helping post a strong end to the calendar year.

India’s manufacturing PMI also rose -- to 52.7 from 51.2 a month ago -- boosted by the fastest increase in new orders since July. A reading above 50 means expansion while anything below that signals contraction.

The uptick in business confidence was accompanied by a rise in inflationary pressures, the survey showed. That trend may keep monetary policy makers from resuming interest-rate cuts anytime soon, leaving most of the heavy-lifting to boost growth with the government.

“The relative stability in macro indicators over the past two months suggests that the worst is behind, but the recovery is likely to be prolonged,” said Teresa John, an economist at Nirmal Bang Equities Pvt. in Mumbai. “Still, sluggish growth and rising inflation indicate that India may well remain in stagflation for most of 2020.”

Exports

Exports remained a laggard, falling 1.8% in December from a year ago. The drag was mainly because of a fall in export of engineering goods, which constitute a third of India’s non-oil exports.

Capital goods imports continued to contract and was lower by 16.5% year-on-year in December after a 22% drop in November. This was the seventh consecutive month of continuous decline, underscoring the weakness in the capex cycle, according to IDFC First Bank.

Consumer Activity

Weakness in demand for passenger vehicles persisted, with local sales falling 1.2% in December from a year ago, according to the Society of Indian Automobile Manufacturers. That capped the worst yearly passenger vehicle sales on record. A Nielsen study on demand for fast-moving consumer goods showed volume growth dropped to 3.5% in the last quarter of 2019 from 3.9% in the same period of 2018.

Funding conditions held out hope, showing considerable improvement in December, according to the Citi India Financial Conditions Index. Credit growth remained tardy though, with demand for loans rising at a slower 7.1% pace from a year ago compared with a nearly 8% growth in November.

Industrial Activity

Industrial output rose for the first time in four months in November. The pick up was broad-based, led by mining, manufacturing and electricity. Mining and manufacturing, in particular, posted a second month of sequential growth. Production of consumer goods also rose after a few months of contraction.

The index of eight core infrastructure industries, which feeds into the index of industrial production, however, declined 1.5% in November from a year ago -- the fourth straight month of contraction. That was on account of shrinking production of electricity, steel, coal, natural gas and crude oil. Both the core sector and industrial output numbers are reported with a one-month lag.