RSS can prepare an army in just 3 days: Mohan Bhagwat

Washington, Jul 18: The government of India has agreed to allow US air carriers to resume passenger services in the US-India market starting July 23, the US Transportation Department said on Friday.

The Indian government, citing the coronavirus, had banned all scheduled services, prompting the US Transportation Department in June to accuse India of engaging in "unfair and discriminatory practices" on charter air carriers serving India.

The Transportation Department said it was withdrawing an order it had issued requiring Indian air carriers to apply for authorization prior to conducting charter flights, and said it had approved an Air India application for passenger charter flights between the United States and India.

A group representing major US airlines and the Indian Embassy in Washington did not immediately comment on Friday.

India's Ministry of Civil Aviation said on Twitter it was moving to "further expand our international civil aviation operations" and arrangements from some flights "with US, UAE, France & Germany are being put in place while similar arrangements are also being worked out with several other countries."

"Under this arrangement," it added, "airlines from the concerned countries will be able to operate flights from & to India along with Indian carriers."

The US Transportation Department order was set to take effect next week. The Trump administration said in June it wanted "to restore a level playing field for US airlines" under the US-India Air Transport Agreement. The Indian government had banned all scheduled services and failed to approve US carriers for charter operations, it added.

The US government said in June that Air India had been operating "repatriation" charter flights between India and the United States in both directions since May 7.

New Delhi, Feb 29: India’s economy expanded at its slowest pace in more than six years in the last three months of 2019, with analysts predicting further deceleration as the global Covid 19 coronavirus outbreak stifles growth in Asia’s third-largest economy.

The gross domestic product (GDP) data released yesterday showed government spending, private investment and exports slowing down, while there is a slight upturn in consumer spending and improvement in rural demand lent support.

The quarterly figure of 4.7% growth matched the consensus in a Reuters poll of analysts but was below a revised - and greatly increased - 5.1% rate for the previous quarter.

The central bank has warned that downside risks to global growth have increased as a result of the coronavirus epidemic, the full effects of which are still unfolding.

Prime minister Narendra Modi’s government has taken several steps to bolster economic growth, including a privatisation push and increased state spending, after cutting corporate tax rates last September.

In its annual budget presented this month, the government estimated that annual economic growth in the financial year to March 31 would be 5%, its lowest for last 11 years.

Modi’s government is targeting a slight recovery in growth to 6% for 2020/21, still far below the level needed to generate jobs for millions of young Indians entering the labour market each month.

The annual GDP figure for the September quarter was ramped up from an earlier estimate of 4.5%, while the April-June reading was similarly lifted to 5.6% from 5%, data released by the Ministry of Statistics showed on Friday.

Capital Investment Drop

In the December quarter, private investment grew 5.9%, up from 5.6% in the previous quarter, while government spending rose by 11.8%, against 13.2% in the previous three months.

However, corporate capital investment contracted by 5.2% after a 4.1% decline in the previous quarter, indicating that interest rate cuts by the central bank have failed to encourage new investment. Manufacturing, meanwhile, contracted by 0.2%.

“It appears growth slowdown is not just cyclical but more entrenched with consumption secularly joining the slowdown bandwagon even as the investment story continues to languish,” said Madhavi Arora of Edelweiss Securities in Mumbai.

Many economists said that the government stimulus could take four to six quarters of time before lifting the economy and the impact of those efforts could be outweighed by the global fallout from the coronavirus epidemic that began in China.

“The coronavirus remains the critical risk as India depends on China for both demand and supply of inputs,” said Abheek Barua, chief economist at HDFC Bank.

Indian shares sank on Friday for a sixth session running, capping their worst week in more than a decade. The NSE Nifty 50 index shed 7.3% over the week, while the Sensex dropped 6.8%, the worst weekly declines since the 2008-09 financial crisis.

Separately, India’s infrastructure output rose 2.2% year on year in January, data showed on Friday.

A spike in inflation to a more than 5-1/2 year high of 7.59% in January is expected to make the RBI hold off from further cuts to interest rates for now, while keeping its monetary stance accommodative.

New Delhi, May 27: As per the prediction from the IMD, severe heatwave conditions continued in several parts of north India with Delhi recording the country’s second-highest temperature at 47.6 degrees Celsius. On the other hand, Churu in Rajasthan sizzled at 50 degrees Celsius, reporting the highest temperature in the country. Also Read - Delhi Temperature: Heatwave to Continue, IMD Issues Alert, Mercury Rises to 46 Degrees

In Delhi, the mercury soared to 47.6 degrees Celsius in Palam area and most places recorded their maximum temperatures six notches above normal. The Safdarjung Observatory, which provides representative figures for the city, recorded a maximum of 46 degrees Celsius.

The last time when the mercury at the Safdarjung weather station touched the 46-degrees-Celsius mark was on May 19, 2002.

The IMD said the weather stations at Lodhi Road and Aya Nagar recorded their respective maximum at 45.4 degrees and 46.8 degrees Celsius.

In its earlier forecast, the IMD has said that dust storm and thunderstorm with winds gusting up to 60 kilometres per hour is likely over the National Capital Region on Friday and Saturday.

On the other hand, severe heatwave conditions prevailed in several parts of Rajasthan on Tuesday, with the mercury touching 50 degrees Celsius in Churu district.

The IMD said this is the second-highest maximum temperature recorded in Churu district in the month of May in the last 10 years.

Other areas such as Bikaner, Gangangar, Kota and Jaipur recorded maximum temperatures of 47.4 degrees Celsius, 47 degrees Celsius, 46.5 degrees Celsius and 45 degrees Celsius, respectively.

In the adjoining areas of Chandigarh, the severe heatwave condition continued in Haryana, Punjab with Hisar being the hottest place in the region at 48 degrees Celsius.