IMF calls for 'urgent' action by India amid slowdown

News Network
December 24, 2019

Washington, Dec 24: India's government must take steps quickly to reverse the economic slowdown of an economy that has been one of the engines of global growth, the International Monetary Fund said Monday.

Declining consumption and investment, and falling tax revenue, have combined with other factors to put the brakes on one of the fastest growing economies in the world, the IMF said in its annual review.

After lifting millions out of poverty "India is now in the midst of a significant economic slowdown," Ranil Salgado, of the IMF Asia and Pacific Department, told reporters.

"Addressing the current downturn and returning India to a high growth path requires urgent policy actions."

However, the government has limited space to boost spending to support growth, especially given high debt levels and interest payments, the fund warned

IMF chief economist Gita Gopinath last week said India's slowdown had "surprised to the downside," and said the fund is set to significantly downgrade its growth estimates for the Indian economy in the World Economic Outlook which will be released next month.

The IMF in October slashed its forecast for 2019 by nearly a full point to 6.1 percent, while cutting the outlook for 2020 to 7.0 percent.

Salgado said India's central bank has "room to cut the policy rate further, especially if the economic slowdown continues."

The Reserve Bank of India (RBI) cut the key lending rate five times this year to a nine-year low, but at its last meeting earlier this month defied expectations by keeping policy unchanged.

The central bank slashed its annual growth forecast to 5 percent from 6.1 percent, as consumer demand and manufacturing activity contracts.

Salgado said "the government needs to reinvigorate the reform agenda," including restoring the health of the financial sector in order to "enhance its ability to provide credit to the economy."

Comments

Ahmed
 - 
Tuesday, 24 Dec 2019

Am Not point to all hindus but some hindus who think modi is leader for them....

 

please my dear brother think carefully...the person who lie time to time he is not good leader..

he is just using for his desire or some other desire..

when you dont have job, and empty pocket and your daughter ask for chocklet that time your relize what you have dont by supporting criminal and lier.

 

belive in RAM as leader bcoz he speak truth and thuthfull to his people...but not belive in Devil who say Lie for every second..

 

i hope our hindu brothers from mangalore will understand...

 

Suresh SS
 - 
Tuesday, 24 Dec 2019

Modi will bring India to the worst situation and people will starve to death all RSS Goondas to eat cowdung

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News Network
January 27,2020

Kabul, Jan 27: A passenger plane crashed on Monday in a Taliban-held area of Afghanistan's Ghazni province, local officials said.

Arif Noori, spokesman for the provincial governor, said the plane went down around 1:10 p.m. local time in Deh Yak district, which is held by the Taliban. Two provincial council members also confirmed the crash.

The number of people on board and their fate was not immediately known, nor was the cause of the crash.

Ariana Airlines, Afghanistan's national carrier, dismissed the claim that one of their planes had crashed in a statement on their website, saying all their aircraft were operational and safe.

The mountainous Ghazni province sits in the foothills of the Hindu Kush mountains and is bitterly cold in winter.

The last major commercial air crash in Afghanistan occurred in 2005 when a Kam Air flight from western Herat to the capital Kabul crashed into the mountains as it tried to land in snowy weather.

The war however has seen a number of deadly crashes of military aircraft. One of the most spectacular occurred in 2013 when an American Boeing 747 cargo jet crashed shortly after takeoff from Bagram air base north of Kabul en route to Dubai in the United Arab Emirates. All seven crew member were killed.

Afghanistan's aviation industry suffered desperately during the rule of the Taliban when its only airline Ariana was subject to punishing sanctions and allowed to fly only to Saudi Arabia for Hajj flights.

Since the overthrow of the religious regime smaller private airlines have emerged but the industry is still a nascent one.

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Agencies
March 15,2020

Tehran, Mar 15: Two hundred and thirty-four Indians stranded in coronavirus-hit Iran have arrived in India, External Affairs Minister S Jaishankar said on Sunday.

The batch comprises 131 students and 103 pilgrims, he said.

“234 Indians stranded in Iran have arrived in India; including 131 students and 103 pilgrims. Thank you Ambassador Dhamu Gaddam and @India_in_Iran team for your efforts. Thank Iranian authorities,” Jaishankar tweeted.

The third batch of Indians from Iran arrived early Sunday. A second batch of 44 Indian pilgrims had arrived from Iran on Friday.

Iran is one of the worst-affected countries by the coronavirus outbreak and the government has been working on plans to bring back Indians stranded there.

The first batch of 58 Indian pilgrims were brought back from Iran on Tuesday.

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coastaldigest.com News Network
April 25,2020

Bengaluru, Apr 25: Bajrang Dal's former Karantaka satate convenor Mahendra Kumar, who dedicated last decade of his life to expose the misdeeds and lies of Sangh Parivar, passed away today due to cardiac arrest here. He was 47 years old.

Kumar was undergoing treatment at Ramaiah hospital Bengaluru where he breathed his last today (April 25) morning. His final rites will be held in his hometown, sources said.

Kumar, who hailed from Koppa in Chikkamagaluru was a resident of Bengaluru.

He had reportedly involved in the 2008 attacks on Christians' places of worship in Mangaluru and Chikkamagaluru and had faced arrest for that. 

However, he quit Bajrang Dal same year and the apologized to Christians. He joined Janata Dal (Secular) in 2011.

After quitting Bajrang Dal and adopting left ideology, he openly attacked the ideology of right-wing outfits. 

He founded Jana Dhwani movement as a voice for the oppressed classes of the state. He used social media to attack the "manuvaad" for past one decade.

Comments

AA
 - 
Sunday, 26 Apr 2020

Rest in peace.....Sir

who will take over his job, who will fulfill his wishes to free this country from manuvad..?

Angry Indian
 - 
Saturday, 25 Apr 2020

GOD will turn the table for his good work at the last moment...we really lost good voice who is to support humanity...

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