Weak rupee to cost India an extra Rs 68,500-cr to repay foreign debt

Agencies
September 7, 2018

New Delhi, Sept 7: Oil isn’t the only headache for India as the rupee slides.

Add external debt to the list. With the currency losing more than 11 per cent to the dollar this year, the country will have to shell out an extra Rs 68,500 crore when repaying short-term debt in the coming months, according to numbers arrived at by the State Bank of India (SBI).

The rupee fell past 72 per dollar to a record low on Thursday, amid a deepening emerging market contagion and the risk of a wider current-account deficit. If the rupee averages 73 to a dollar this year and crude oil, India’s biggest import, averages $76 a barrel for the remaining half of 2018, that could see the country’s oil bill rise by Rs 45,700 crore, Soumya Kanti Ghosh, chief economic adviser at the SBI, wrote in a note Thursday.

India’s short-term debt obligations, which included non-resident deposits as well as overseas commercial borrowings by companies, totaled $217.6 billion in 2017. Assuming 50 per cent has either been paid in the first half of 2018 or was rolled over to next year, the remaining amount to be repaid in rupees would be Rs 7.1 lakh crore computed using the average exchange rate of 65.1 per dollar in 2017.

“For the second half of the year, assuming that rupee depreciates to an average value of 71.4 per dollar, the debt repayment amount would be Rs 7.8 lakh crore,” he wrote. That would implying an extra cost of nearly Rs 70,000 crore.

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News Network
May 8,2020

Aurangabad, May 8: At least 15 migrant workers, who were sleeping on the railway tracks while going back to their native places, were run over by a goods train between Maharashtra's Jalna and Aurangabad, officials said on Friday.

A senior railway official confirmed that 15 migrant labourers were run over by a goods train between Jalna and Aurangabad of Nanded Divison of South Central Railway.

The official said that the incident happened around 5.30 am on Friday when the migrant workers, who were on way back to their homes and sleeping on the railway tracks.

However, it is yet not clear from where this group hailed and where they were going.

Amid the nationwide lockdown, thousands of migrant workers stranded in several other cities have started their journey to return to their native places on foot.

The interstate bus service, passenger, mail and express train services have been suspended since March 24.

The railways has started running Shramik Special trains to transport the stranded migrants to their native places since May 1.

Till Thursday railways has run 201 Shramik Special trains.

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Agencies
May 31,2020

New Delhi, May 31: India registered its highest single-day spike of COVID-19 cases on Sunday with 8,380 new infections reported in the last 24 hours, taking the country's tally to 1,82,143, while the death toll rose to 5,164, according to the Union Health Ministry.

The number of active COVID-19 cases stood to 89,995, while 86,983 people have recovered and one patient has migrated, it said.

"Thus, around 47.75 per cent patients have recovered so far," a senior health ministry official said.

The total confirmed cases include foreigners.

The death toll has gone up by 193 since Saturday morning, of which 99 were from Maharashtra, 27 from Gujarat, 18 from Delhi, nine each from Madhya Pradesh and Rajasthan, seven from West Bengal, six each from Tamil Nadu and Telangana, five in Bihar, three from Uttar Pradesh, two from Punjab, and one each from Haryana and Kerala.

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News Network
April 27,2020

New Delhi, Apr 27: The number of COVID-19 cases climbed to 28,380 and the death toll due to it rose to 886 in the country on Monday, registering a record increase of 60 deaths in 24 hours, according to the Union Health Ministry.

There has been a spike of 1,463 cases since Sunday evening.

The number of active COVID-19 cases stood at 21,132, while 6,361 people have recovered, and one patient has migrated, the ministry said.

Thus, around 22.41 per cent of patients have recovered in the country so far.

The total number of cases includes 111 foreign nationals.

A total of 60 deaths were reported since Sunday evening, of which 19 fatalities were reported from Maharashtra, 18 from Gujarat, eight from Rajasthan, seven from Madhya Pradesh, two each from Karnataka, West Bengal and Uttar Pradesh, and one each from Punjab and Tamil Nadu.

Of the 886 deaths, Maharashtra tops the tally with 342 fatalities, followed by Gujarat at 151, Madhya Pradesh at 106, Delhi at 54, Rajasthan at 41, and Andhra Pradesh and Uttar Pradesh at 31 each.

The death toll reached 26 in Telangana, 24 in Tamil Nadu while West Bengal and Karnataka have reported 20 deaths each.

Punjab has registered 18 fatalities so far. The disease has claimed six lives in Jammu and Kashmir, four in Kerala while Jharkhand and Haryana have recorded three COVID-19 deaths each.

Bihar has reported two deaths, while Meghalaya, Himachal Pradesh, Odisha and Assam have reported one fatality each, according to the ministry data.

According to the Health Ministry data updated in the evening, the highest number of confirmed cases in the country are from Maharashtra at 8,068, followed by Gujarat at 3,301, Delhi at 2,918, Rajasthan at 2,185, Madhya Pradesh at 2,168, Uttar Pradesh at 1,955 and Tamil Nadu at 1,885.

The number of COVID-19 cases has gone up to 1,177 in Andhra Pradesh and 1,002 in Telangana.

The number of cases has risen to 649 in West Bengal, 523 in Jammu and Kashmir, 511 in Karnataka, 469 in Kerala, 313 in Punjab and 289 in Haryana.

Bihar has reported 277 novel coronavirus cases, while Odisha has 108 cases. Eighty-two people have been infected with the virus in Jharkhand and 51 in Uttarakhand.

Himachal Pradesh has 40 cases, Chhattisgarh has 37 and Assam has registered 36 infections each so far.

Andaman and Nicobar Islands has 33 COVID-19 cases while Chandigarh has 30 cases and Ladakh has reported 20 infections so far.

Meghalaya has reported 12 cases, Puducherry has eight cases while Goa has seven COVID-19 cases.

Manipur and Tripura have two cases each, while Mizoram and Arunachal Pradesh have reported a case each.

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