Uddhav Thackeray to chair meeting with Shiv Sena MLAs today

New Delhi, Jan 21: With the IMF lowering India's economic growth estimate for the current fiscal to 4.8 per cent, senior Congress leader P Chidambaram on Tuesday claimed an attack on the world body and its chief economist Gita Gopinath by government ministers was imminent.

He also alleged that the growth figure of 4.8 per cent given by the International Monetary Fund (IMF) is after some "window dressing" and he won't be surprised if it goes even lower.

"Reality check from IMF. Growth in 2019-20 will be BELOW 5 per cent at 4.8 per cent," Chidambaram said in a series of tweets.

"Even the 4.8 per cent is after some window dressing. I will not be surprised if it goes even lower," the former finance minister said.

IMF Chief Economist Gopinath was one of the first to denounce demonetisation, he noted.

"I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath," Chidambaram said.

The IMF lowered India's economic growth estimate for the current fiscal to 4.8 per cent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.

In October, the IMF had pegged India economic growth at 6.1 per cent for 2019.

Listing decline in rural demand growth and an overall credit sluggishness for lowering of India forecasts, Gopinath, however, had said the growth momentum should improve next year due to factors like positive impact of corporate tax rate reduction.

May 18: Goldman Sachs expects India will experience its deepest recession ever after a poor run of data underscored the damaging economic impact of lockdowns in the world’s second-most populous nation.

Gross domestic product will contract by an annualized 45% in the second quarter from the prior three months, compared with Goldman’s previous forecast of a 20% slump. A stronger rebound of 20% is now seen for the third quarter, while projections for the fourth quarter and first of next year are unchanged at 14% and 6.5%.

Those estimates imply that real GDP will fall by 5% in the 2021 fiscal year, which would be deeper than any other recession India has ever experienced, Goldman economists Prachi Mishra and Andrew Tilton wrote in a note dated May 17.

India’s government has extended its nationwide lockdown until May 31, while further easing restrictions in certain sectors to boost economic activity, as coronavirus cases escalate across the country. The announcement followed Finance Minister Nirmala Sitharaman’s fifth briefing in as many days, in which she outlined details of the country’s $265 billion virus rescue package, which is equivalent to 10% of India’s GDP.

 “There have been a series of structural reform announcements across several sectors over the past few days,” the Goldman economists wrote. “These reforms are more medium-term in nature, and we, therefore, do not expect these to have an immediate impact on reviving growth. We will continue to monitor their implementation to gauge their effect on the medium-term outlook.”

Infections are surging across the South Asian nation of 1.3 billion people, with more than 91,300 infections, including 2,897 deaths as of Sunday, according to data from Johns Hopkins University.

New Delhi, Apr 15: Tablighi Jamaat leader Maulana Saad Kandhalvi has been booked for culpable homicide after some of the attendees of the religious congregation died due to coronavirus, police said on Wednesday.

Kandhalvi had organised the religious gathering at Nizamuddin Markaz last month against the social distancing protocol imposed by the Centre to curb the spread of the deadly disease.

An FIR was registered against the cleric on March 31 at Crime Branch police station on a complaint of the Station House Officer of Nizamuddin.

He was earlier booked for holding the event, police said.

“After several attendees of the Tablighi Jamaat event succumbed to coronavirus, we added IPC section 304 (culpable homicide not amounting to murder) in the FIR against the leader, a police official said.

Some foreigners who attended the event have also been booked for violation of visa norms.

In an audio message, Kandhalvi had said that he was exercising self-quarantine after several hundreds who visited the Tablighi Jamaat congregation at Nizamudddin Markaz tested positive for coronavirus.

The FIR registered against the Tablighi Jamaat event says that the Delhi Police contacted the authorities of Nizamuddin Markaz on March 21 and reminded them of the government order which prohibited any political or religious gathering of more than 50 people.

It says that despite repeated efforts, the event organisers failed to inform the health department or any other government agency about the huge gathering inside the Markaz and deliberately disobeyed government orders.

“The sub district magistrate of Defence Colony inspected the premises several times and found that around 1,300 people, including foreign nationals, were residing there without maintaining social distance. It was also found that there were no arrangements of hand sanitizers and face masks,” the FIR adds.

The Nizamudddin centre, attended by thousands, turned out to be a hotspot for spread of coronavirus not only in the national capital, but the entire country.

More than 25,500 Tablighi members and their contacts have been quarantined in the country after the Centre and the state governments conducted a "mega operation" to identify them.

At least 9,000 people participated in the religious congregation in Nizamuddin. Later, many of the attendees travelled to various parts of the country.