Tamil Nadu govt to take action against IAS officer preaching Christianity

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 10: Congress leader Rahul Gandhi on Saturday demanded that Prime Minister Narendra Modi ensured audit of donations made to the PM-CARES Fund, and to share the details and the money spent with the people.

"The PM-CARES Fund has received huge contributions from PSUs and major public utilities like the Railways. It's important that the Prime Minister ensure the fund is audited and that the record of money received and spent is available to the public," he tweeted.

The #PmCares fund has received huge contributions from PSUs & major public utilities like the Railways.

It’s important that PM ensures the fund is audited & that the record of money received and spent is available to the public.

— Rahul Gandhi (@RahulGandhi) May 9, 2020
His remarks came amid reports that the central government is accumulating a huge sum of money in the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund set up as a corpus to fight novel coronavirus and that the amount spent will not be audited by the Comptroller and Auditor General.

The CAG office had clarified that since the fund is based on donations, it has no right to audit a charitable organisation.

On Friday, Rahul Gandhi told the media that the PM-CARES Fund should be audited and people of the country should know about the donors and the donations made.

New Delhi, Jun 8: Union Human Resource Development Minister Ramesh Pokhriyal Nishank has said that CBSE board results can be declared by August 15. The results of both class 10 and 12 will be declared at an interval of just a few days.

However, the decision to open schools will be taken after August keeping in mind the current COVID-19 situation. At present, the Ministry of Human Resource Development has not set any date for reopening schools.

Nishank said during a discussion "We hope that the results of both 10th and 12th class will be declared by August 15. These include the results of previous exams and the results of examinations in July."

On the issue of reopening of schools, Nishank said "after August the process of opening schools will be started."

A final decision in this regard will be taken only after assessing the prevailing conditions. According to the HRD ministry, after August, new sessions will also start in universities.

Meanwhile, the Arvind Kejriwal government in Delhi has also written to the HRD ministry on the subject of reopening schools. Delhi Education Minister Manish Sisodia said in the letter, "Delhi Chief Minister Arvind Kejriwal said some time ago that we have to learn to live with coronavirus. So it would be better to open schools with proper safety measures."

Sisodia said that first of all, we have to assure every child that they are important to us. Everyone has equal rights over the physical and intellectual environment of his school. Education cannot progress beyond online classes only. It would be impossible to pursue education only by calling older children to school and keeping younger children at home.

Several private schools have also suggested measures to the HRD ministry to open schools and safety in schools during this period. However, the ministry is not in a hurry to reopen schools at present. According to senior officials of the ministry, at present, preparations are being made to conduct the remaining board exams of class 10 and 12 between July 1 and 15.

After the examinations, the first priority is to declare the results. Only then can the process of reopening school colleges begin.