Curtains down on personality-driven politics in TN?

New Delhi, May 24: The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report.

According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.

"The multiplier effect of the stimulus measures on the economy will depend on three key aspects i.e. the time taken for effecting the withdrawal of the lockdown, the efficacy of implementation and duration of execution of the measures announced," Dun & Bradstreet India Chief Economist Arun Singh said.

The report noted that the government's larger-than-expected stimulus package is likely to re-start economic activities.

Besides, measures taken by the Reserve Bank of India like reducing the repo rate by a further 40 basis points to 4 per cent, extending the moratorium period by three months and facilitating working capital financing will also help stimulate the momentum.

Singh said while the measures announced by the government are "positive", most of them have been directed towards strengthening the supply side of the economy, and "it is to be noted that supply needs to be matched with demand", he said.

Besides, "in the absence of cash-in-hand benefits under the government's stimulus package, demand for goods and services is expected to remain depressed", he added.

He further said the loss in income and employment opportunities, and cautiousness among consumers, will lead to a delayed recovery in consumer demand, even after the pandemic. As debt and bad loan levels increase, the banking sector might face challenges.

The report further noted that even as the monetary stimulus is expected to inject liquidity and stimulate demand for a wider section of the economy, the channelisation of funds from the financial institutions will be subjected to several constraints.

The foremost concern being increase in risk averseness, as the balance sheets of firms, households, and banks/NBFCs have weakened considerably and low demand for funds by firms as production activities have been on a standstill during the lockdown period, Singh said.

India has been under lockdown since March 25 to contain the spread of the coronavirus, resulting in supply disruptions and demand compression.

Prime Minister Narendra Modi imposed a nationwide lockdown to control the spread of coronavirus on March 25. It has been extended thrice, with some relaxations. The fourth phase of the lockdown is set to expire on May 31. 

Jammu, Jun 3: A mob on Tuesday disrupted the last rites of a coronavirus victim in Jammu and Kashmir and forced his family members to flee with the half-burnt body, prompting intervention by the administration which later ensured the cremation at another place as per protocol.

A 72-year-old man, hailing from Doda district, became the fourth victim of the novel coronavirus to die in Jammu region. He breathed his last at the Government Medical College (GMC) hospital on Monday.

"We had set out for the funeral along with a revenue official and a medical team, and had lit the pyre at a cremation ground in Domana area when a large group of local residents appeared at the scene and disrupted the last rites," son of the deceased said.

Only close relatives of the deceased, including his wife and two sons, were present during the cremation. They had to flee with the half-burnt body in an ambulance to save their skin from the mob which pelted stones and attacked them with sticks.

"We had sought permission from the government to take the body to our home district for the last rites, but we were told that all necessary arrangements were in place, and that we would not face any trouble during the cremation," the victim's son said.

He also alleged that the security officials present at the scene were of no help.

Two policemen who were present there failed to act against the unruly crowd, while the accompanying revenue official went missing, he said.

"The ambulance driver and other staff from the hospital helped us a lot and managed to take us back to the GMC hospital with the body the government should have come out with a better plan to conduct the last rites of coronavirus victims, taking into consideration the past experience and problems encountered during the funeral of such victims," the victim's son said.

Later, the body was taken to a cremation ground at Bhagwati Nagar area of the city, where it was consigned to flames in the afternoon in presence of senior civil officials, including additional deputy commissioner and sub-divisional magistrate under tight security.

"My uncle was admitted in the hospital last week and died on Monday afternoon. He was suffering from various ailments, especially lungs and heart diseases. Before shifting him to GMC hospital Jammu, he underwent a coronavirus test in Doda which came negative," nephew of the deceased said.

However, he said, the victim's second test after his admission in the GMC hospital came positive on Sunday.

New Delhi, Jul 17: With the highest single-day spike of 34,956 cases, and 687 deaths, India's COVID-19 positive cases crossed the 10 lakh mark on Friday, according to the Union Ministry of Health and Family Welfare.

The total positive cases stand at 10,03,832 including 3,42,473 active cases, 6,35,757 cured/discharged/migrated and 25,602 deaths, according to the Ministry.

As per the Ministry, Maharashtra -- the worst-affected state from the infection -- has a total of 2,84,281 COVID-19 cases and 11,194 fatalities.

While Tamil Nadu has a tally of 1,56,369 cases and 2,236 deaths due to COVID-19.
Delhi has reported a total of 1,18,645 cases and 3,545 deaths due to COVID-19.