Season's first: Fog disrupts operations at IGI, 25 flight delayed

New Delhi, Jan 20: Surging inflation and slowing growth are raising serious concerns about the future growth prospects of the economy and as a remedial measure the government should resolve supply-side hurdles and ensure more stringent governance norms, a report said on Monday.

According to the Dun and Bradstreet Economy forecast, even though the Index of Industrial Production (IIP) turned positive in November 2019, it is likely to remain subdued.

"Slowdown in consumption and investment along with high inflationary pressures, geopolitical issues and uncertainty over the recovery of the economic growth are likely to keep IIP subdued," the report noted.

Dun and Bradstreet expect IIP to remain around 1.5-2.0 percent during December 2019.

As per government data, industrial output grew 1.8 percent in November, turning positive after three months of contraction, on account of growth in the manufacturing sector.

On the price front, uneven rainfall along with floods in many states and geopolitical issues have led to a surge in headline inflation even as demand remains muted.

The Consumer Price Index (CPI) in December rose to about five-and-half year high of 7.35 percent from 5.54 percent in November, mainly driven by high vegetable prices.

"The sharp rise in inflation has constrained monetary policy stimulus while revenue shortfall has placed limits on the government expenditure," Dun & Bradstreet India Chief Economist Arun Singh said.

According to Singh, growth-supporting measures and deceleration in growth are likely to cause slippage in fiscal deficit target by a wider margin.

"The government should focus on taking small steps to address the slowdown; in particular, resolve the supply-side hurdles and ensure more stringent governance norms," Singh said.

Unless these concerns are addressed through a comprehensive policy framework, it will not be easy for India to clock a sustainable growth rate to become a USD 5 trillion economy, he added.

New Delhi, Jul 16: India's pharmaceutical industry will be able to produce Covid-19 vaccines not just for the country but also for the entire world, according to Microsoft co-founder and philanthropist Bill Gates.

A lot of "very important things have been done" in India and its pharma industry is doing work "to help make the coronavirus vaccine building on other great capacities that they have used for other diseases", said the Co-Chair and Trustee of Bill and Melinda Gates Foundation.

Speaking in a documentary -- Covid-19: India's War Against The Virus -- to be premiered on Discovery Plus this (Thursday) evening, Gates said India also faces a huge challenge due to the health crisis because of its gigantic size and urban centres with a lot of population density.

Commenting on the strength of India's pharma industry, he said, "India has a lot of capacity there -- with the drug and vaccine companies that are huge suppliers to the entire world. You know, more vaccines are made in India than anywhere-- starting with Serum Institute, that's the largest."

He further said, "But (there are) also Bio E, Bharat (Biotech), many others. They are doing work to help make the coronavirus vaccine, building on other great capacities that they have used for other diseases."

Stating that India joined Coalition for Epidemic Preparedness Innovations (CEPI), which is a group working on a global basis to build vaccines platforms, Gates said, "I am excited that the pharmaceutical industry there will be able to produce not just for India but also for the entire world. (This is) What we need to reduce the deaths and make sure we are immune, which is how we end the epidemic."

Gates said Bill and Melinda Gates Foundation is also a "partner with the government, particularly with the department of biotechnology, the Indian Council of Medical Research (ICMR) and the office of the principal scientific advisor provide advice and help about getting these tools going".

Commenting on the deadly virus breaching India's borders in the documentary which was shot extensively during the period of lockdown, he said, "India is still at the beginning of this, but there's a lot of very important things have been done.

“It's a huge challenge with India because you've got a gigantic country. You've got your urban centers with a lot of density-- and so that-- drives the spread. You have people moving around."

He, however, added: "Yet people are stepping up... Looking at how we reduce the spread while trying not to reduce food availability, equipment that people need."

Highlighting Gates foundation's role, he said it has "worked for the Indian government on health issues like introducing new vaccines over the last decade; and so when Covid-19 came along, we stepped in and said you know where are the gaps, we have been funding work on detection and isolation.

“We have been particularly active in UP and Bihar where we have done health delivery in the past."

The foundation is also working with the department of personnel and training to take their online training platforms and "are now using that guidance to help their frontline health workers", Gates said. 

New Delhi, Jun 5: India registered its highest spike in COVID-19 cases with 9,851 more cases and 273 deaths reported in the last 24 hours. The total number of cases in India reached 2,26,770 including 1,10,960 active cases, said the Union Ministry of Health and Family Welfare.

The Ministry informed that 1,09,462 persons have been cured/discharged/migrated while 6,348 people have succumbed to the disease so far.

Maharashtra has so far reported 77,793 cases, more than any other state in the country, while the total number of active cases in the state stands at 41,402.

In Tamil Nadu, 27,256 cases have been detected so far while Delhi has reported 25,004 coronavirus cases.