"Support India's Objectives, But Concerned About Kashmir Situation": US

Agencies
October 22, 2019

Washington, Oct 22: The US on Tuesday said while it supports India's development agenda behind scrapping special status to Jammu and Kashmir under Article 370 of the Constitution, it was concerned over the current situation in the Valley.

It said it was closely monitoring the situation in Jammu and Kashmir following India's decision to scrap special status and divide the state into two Union Territories on August 5.

The Indian government has argued that its decision on Article 370 was driven by a desire to increase economic development, reduce corruption and uniformly apply all national laws in Jammu and Kashmir, particularly in regard to women and minorities, Acting Assistant Secretary of State for South and Central Asia Alice G Wells told Subcommittee on Asia, the Pacific, and Nonproliferation of the US House Foreign Affairs Committee.

"While we support these objectives, the US State Department remains concerned about the situation in the Kashmir Valley, where daily life for the nearly eight million residents has been severely impacted since August 5," Ms Wells said in a statement submitted to the Congressional subcommittee a day before the hearing on "Human Rights in South Asia: Views from the State Department and the Region".

The US State Department, she said, has closely monitored the situation in Jammu and Kashmir following India's decision on August 5.

"While conditions in Jammu and Ladakh have improved, the Valley has not returned to normal," Ms Wells said, adding the State Department has raised concerns with the Indian government regarding detentions of residents and political leaders, including three former chief ministers of Jammu and Kashmir.

"We have urged Indian authorities to respect human rights and restore full access to services, including internet and mobile networks," she said.

Postpaid mobile service has been restored in the Valley, but internet access remains intermittent, Ms Wells said.

She said both foreign and local journalists have extensively covered developments in Jammu and Kashmir, but many have faced challenges in access and reporting due to security restrictions.

"While exact figures are difficult to ascertain, we understand several thousand people have been detained over the past two months, although many have subsequently been released," the top US diplomat said.

According to government sources, hundreds remain in detention - many without charges - under the Public Safety Act, which allows for administrative detention of up to two years, Ms Wells said.

Welcoming actions by India to improve the situation and address local grievances, she said the Home Ministry recently said statehood will eventually be restored to Jammu and Kashmir, reaffirming what Prime Minister Narendra Modi announced in his Independence Day speech on August 15.

The US, she said, also encourages the Indian government to follow through on its commitment to hold assembly elections in the state at the earliest opportunity. Some local political leaders were released earlier this month, a trend Ms Wells said she hopes will continue.

Government offices, primary schools, and colleges are open, although student attendance remains low, she said.

The Indian Supreme Court, Ms Wells said, is planning to hear petitions related to Kashmir on November 14 and the Jammu and Kashmir High Court is reviewing cases.

"While these steps are positive, they are incremental, and we continue to press India to restore everyday services, including SMS and internet communications, as swiftly as possible," she said.

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News Network
February 29,2020

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.

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News Network
July 4,2020

Maryland, Jul 4: The total number of coronavirus cases worldwide has touched 11 million, according to the latest data by the Johns Hopkins University on Saturday.
More than 523,613 people have died globally due to the infection, according to the data compiled by the university.

Though the virus is believed to have emerged from the Chinese city of Wuhan, the United States is the worst-hit country from COVID-19, which was declared as a pandemic by the WHO on March 11.

At least 129,275 people have died in the US from the coronavirus, according to Johns Hopkins University's latest tally.
There are at least 2,786,178 cases of the disease in the country. The US has the highest number of cases in the world.

The second worst-hit country is Brazil, which has reported 1,496,858 lakh cases. The country's death toll stands at 61,884.

The countries around the world including the US, India, Denmark, and Italy have started the process of lifting the lockdown by easing restrictions despite the number of cases continues to rise.

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Agencies
March 1,2020

Washington, Mar 1: Beginning April 1, Indians wishing to immigrate to America will now have to pay an additional $50,000 for the EB-5 or the US investor visa, a media report said.

Although, this additional tax would impact all visa categories, it will predominantly create a barrier for people investing in the EB-5 visa programme, the American Bazaar daily said in the report on Friday.

In 2019, the EB-5 investor visa programme, for the first time since the 1990's, increased the minimum investment amount to $900,000.

With this increase in minimum investment, the new 5 per cent additional tax would mean that applicants would have to pay the extra $50,000, when they move money to an escrow account in the US to fulfil their application criterion.

"The changes to the tax on remittances is a reminder to Indians to carefully plan their tax position before making the move to the US," the American Bazaar quoted Mark Davies, Global Chairman, Davies & Associates LLC, as saying.

"People seeking to emigrate who do not wish to pay this tax at source and rather account for it later may wish to move their money ahead of the new rules coming into effect.

"It is possible to pre-emptively move money into an escrow account in the US until such a time as they are ready to proceed with emigration process," he added.

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