Full list of Chinese apps banned in India: TikTok and 58 other apps

New Delhi, Mar 22: The central government on Sunday decided to suspend all metro train services across the country till March 31 in view of coronavirus outbreak.

In a message to managing directors of all metro train corporations, Union Housing and Urban Affairs Secretary Durga Shanker Mishra said this is being done in continuation of suspending metro services during 'Janta Curfew'.

"In view of the current global pandemic of this Corona Virus & for containing its further spread through inter-personal proximity, it has been decided to close down metro rail services on all operational networks across the country till 31 March 2020," Mishra tweeted.

In another tweet, he said by the act of social distancing, people can protect themselves and their dear ones, and win the fight against COVID-19.

India reported three more coronavirus deaths on Sunday, including the first casualty from Bihar, taking the toll to seven and the number of COVID-19 cases rose to 341, officials said.

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 23: India witnessed the biggest ever spike of 6,654 positive cases in the last 24 hours, taking the total number of COVID-19 cases to 1,25,101, according to the Union Ministry of Health and Family Welfare.

As many as 137 deaths have been reported in the last 24 hours, taking the death toll to 3,720.
Out of the total number of cases, 69,597 are active and 51,784 have been cured/discharged or have migrated.

Maharashtra continues to remain the worst-affected state with 44,582 COVID-19 cases. It is followed by Tamil Nadu (14,753), Gujarat (13,268), and Delhi (12,319).

The nationwide lockdown imposed as a precautionary measure to contain the spread of COVID-19 has been extended till May 31.