Tamil Nadu rains: 17 killed in Coimbatore house collapse

News Network
December 2, 2019

Coimbatore, Dec 2: At least 17 people, including seven women and two children, were killed when a wall collapsed on four houses amid heavy downpour in Tamil Nadu's Mettupalayam area on Monday. More peope are feared trapped under the debris and rescue operations are on.

The houses were completely destroyed when a private compound wall, soaked in heavy rains, fell on them.

The total death toll from rain-related accidents have reached 18 across Tamil Nadu with Monday's tragedy in Mettupalayam, north of Coimbatore city.

More showers predicted

Rains lashed many parts of Tamil Nadu and neighbouring Puducherry as the North-East monsoon intensified in the last 24 hours claiming one life in the state capital, Chennai, even as the Met office predicted more showers till Tuesday.

Various parts of the state have been receiving good rainfall since the onset of the monsoon on October 16.

The presence of an upper-air circulation caused heavy to very heavy rains, explained N Puviarasan, the Director of Area Cyclone-warning Centre, Regional Meteorological Centre.

He said light to heavy rainfall may occur over the next 24-48 hours.

"Ramanathapuram, Tirunelveli, Tuticorin, Vellore, Tiruvallur, Thiruvannamalai districts may receive very heavy rainfall in the next 24 hours," he added.

To a query, he said the rainfall recorded since October 1 was 39 per cent which was three per cent higher than the rain received during the setting of the monsoon.

A flood alert has been issued to people living on the banks of river Bhavani in this western district of Tamil Nadu as a dam built across it has surplussed in the wake of copious rains in catchment areas, officials said on Monday.

The water level in the Lower Bhavani Project reservoir reached its maximum of 105 feet and the storage crossed 32 tmc feet against maximum of 32.8 tmc ft, prompting the Public Works Department authorities to more than triple discharge from 3,500 cusecs to 11,950 cusecs on Monday morning.

Consequently, Revenue officials released a flood alert and advised people living on the banks of River Bhavani to move to safer places, officials said.

The dam has filled up for the sixth time this year following heavy rains in the catchment areas in hilly Nilgiris district and Mettupalayam in neighbouring Coimbatore district.

Meanwhile, various formers associations appealed for release of water for irrigation of second turn crops in the Lower Bhavani Project ayacut areas.

Forecast for Chennai

For Chennai and its surrounding areas, light to moderate rainfall may occur over the next two days.

"The city received 51 cm this season which is 9 per cent less compared to the normal 60 cm received during monsoon season," Puviarasan said.

City Police Commissioner A K Viswanathan took stock of situation in the state capital and reviewed the measures taken following the heavy rainfall.

Talking to reporters, Viswanathan said all the departments have been alerted to take stock of situation in a coordinated manner.

He said a WhatsApp group of officers has been formed to ensure that immediate steps would be taken.

"Five teams from the State Disaster Relief Force have been kept on standby and teams from the National Disaster Relief Force, if required, may also join in," he said.

Several low-lying areas in the city were inundated.

A 49-year-old man died at Ambattur on Saturday night after he accidentally fell into a stormwater drain.

Alert for fishers

The Met advised fishermen not to venture into sea at Cape Comorin and Lakshadweep area as gusty winds were likely to occur due to the presence of depression in the Arabian Sea.

To another query, Puviarasan said Nagapattinam district received the maximum rainfall registering 81 cm as against 67 cm normally during the monsoon season.

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Agencies
August 6,2020

Mumbai, Aug 6: Former Reserve Bank of India governor Raghuram Rajan said on Thursday that overly focusing on what sovereign rating agencies think can take one's eyes off what needs to be done for the economy.

"It is also important to convince both domestic and international investors that after the crisis associated with the pandemic is over, we will return to fiscal responsibility over the medium term, and the government should do more to convince them of that," Rajan told the Global Markets Forum.

India was placed under one of the strictest lockdowns in the world in late March for more than two months to stem the spread of the coronavirus, but cases have continued to rise steadily since the government eased restrictions in June, stymieing hopes of an economic recovery.

The government has announced several initiatives to help the poor and small- and medium-size businesses, but actual cash outgo from the government's measures has been estimated at just about 1% of GDP.

Several attribute the fiscal prudence to fear of a downgrade after Moody's cut India's rating and outlook in early June followed closely by a change in outlook from Fitch.

The central bank on its part too has reduced the key lending rate by 115 basis points on top of the 135 bps last year and is widely expected to cut rates by another 25 bps later on Thursday.

"The RBI and government have certainly been cooperating, but it seems like it is elsewhere, the ball is in the government's court to do more," Rajan said.

He said the RBI needs to focus on whether credit is reaching the stressed areas of the economy and also if the viable firms were able to access credit and not the unviable ones.

"And I think that's where it has to focus its attentions, because resources, as you well know, are limited in India today."

Recently analysts, however, have cited the growing possibility the RBI may prefer to pause and cut rates only at its October meeting.

Government officials too have suggested the possibility of any more fiscal stimulus being announced, would only come in the second half of the fiscal year, once a recovery has taken root and coronavirus cases have peaked.

"What India should focus on at this point is protecting its economic capabilities, so that when it has dealt with the virus it can go resume activity in a reasonable way. That should be the focus," Rajan said.

"And if it does that, there is no reason why the rating agencies will not see that as an appropriate policy".

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News Network
June 15,2020

New Delhi, Jun 15: With an increase of 11,502 cases in the past 24 hours, the COVID-19 count in India reached 3,32,424 on Monday, according to the Union Health and Family Welfare Ministry.

The spike is marginally lower than the highest-ever spike of 11,929 new cases the country registered a day earlier.

With 325 deaths being reported from across the country, the toll due to COVID-19 has now reached 9,520.

The COVID-19 count includes 1,53,106 active cases while 1,69,798 patients have been cured and discharged or migrated so far.

Maharashtra with 1,07,958 cases continues to be the worst-affected state in the country with 53,030 active cases while 50,978 patients have been cured and discharged in the state so far. 3,950 deaths have been reported due to the infection so far from Maharashtra.

It is followed by Tamil Nadu with 44,661 cases and the national capital with 41,182 confirmed cases.

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News Network
January 15,2020

Jan 15: Amazon.com Inc Chief Executive Officer Jeff Bezos is facing a bitter welcome during his India visit this week as the country’s antitrust regulator initiated a formal investigation just hours before his arrival and trader bodies comprising millions of infuriated small store owners announced demonstrations.

Bezos is in New Delhi for the Smbhav summit, an Amazon India event for small and medium businesses. The billionaire is scheduled to conduct a fireside chat with Amazon India chief Amit Agarwal, anchoring an event that also features Infosys Ltd. co-founder Narayana Murthy and retail billionaire Kishore Biyani, who recently sold a stake in his retail group to Amazon. Ahead of the event, Bezos paid his respects at Mahatma Gandhi’s memorial, wearing a white tunic and a rust-colored Indian vest.

The small businesses that Amazon’s CEO is hoping to endear himself to, however, are organizing in opposition. The Confederation of All India Traders announced that members of its affiliate bodies across the country would stage sit-ins and public rallies in 300 cities to raise a war cry against the world’s largest online retailer. In a letter to Prime Minister Narendra Modi last week, the confederation’s Secretary General Praveen Khandelwal alleged that Amazon, much like Walmart Inc.-owned Flipkart, was an “economic terrorist” who engaged in predatory pricing that deprived the government of tax revenue and “compelled the closure of thousands of small traders.”

India’s e-commerce market is projected to grow to $150 billion by 2022, according to a 2018 report by software industry group Nasscom and consulting firm PwC India. Competition for this rapidly expanding sector is intensifying as Asia’s richest man, Mukesh Ambani, prepares to go live with JioMart, an online shopping platform challenging Amazon and Walmart directly. The latter’s Flipkart Online Services Pvt is also delving deeper into the countryside in its pursuit for more customers. Amazon, for its part, opened a huge office complex in the southern city of Hyderabad in September, underscoring its commitment to the country.

The Competition Commission of India said it would probe the deep discounts, preferential listings and exclusionary tactics that Amazon and Flipkart are alleged to have used as anti-competitive levers. India’s trade bodies have long argued that both retail giants were flouting rules by promoting sales and discounts through their favoured sellers, many of whom they have preexisting commercial arrangements. The regulator has ordered for the investigation to be completed within two months.

Bezos last visited India in 2014 under starkly different circumstances. During that trip, the Amazon founder wore local festive garb, rode atop a festooned truck for a photo opp and presented Amazon’s Indian unit with a giant check for $2 billion. Since then, Amazon has pledged a further $3.5 billion to expand in the country.

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