Indian economy experienced abrupt slowdown in 2019, says IMF MD

News Network
February 1, 2020

Washington, Feb 1: The Indian economy experienced some abrupt slowdown in 2019 due to turbulence in non-banking financial institutions and major reform measures such as GST and demonetisation, but it is not in a recession, IMF Managing Director Kristalina Georgieva has said.

"The Indian economy indeed has experienced an abrupt slowdown in 2019. We had to revise our growth projections, downwards to four percent for last year. We are expecting 5.8 per cent (growth rate) in 2020 and then an upward trajectory to 6.5 percent in 2021," Georgieva told a group of foreign journalists here on Friday.

"It appears that the main reason for this slowdown was the non-banking financial institutions experiencing a turbulence," she said on the eve of Union Finance Minister Nirmala Sitharaman presenting the annual budget in Parliament on Saturday.

She said India had undertaken some important reforms that over the longer term would be beneficial for the country, but they do have some short-term impact.

"For example, coming with the unified tax system, and the demonetisation that took place. These are steps that over time are beneficial, but of course they might, might be somewhat disruptive over short term," Georgieva said in response to a question.

The International Monetary Fund (IMF) Managing Director said that there is not a lot of fiscal space in India. “But we also recognise that the policies of the government on that side, on the fiscal side have been prudent. We will see how the reading of the budget, the submission of the budget goes, tomorrow,” she said.

In the medium-term, she said, the IMF remains optimistic about India. “This is why we see that upswing potential for the growth in the country,” she said.

Georgieva said that the current economic slowdown cannot be described as a recession. "No.... You're far from that. But it is a significant slowdown, not the recession," she said.

The IMF managing Director noted that the consumption in India also slowed down and that contributed to the overall slowdown in the economy. The IMF would be keen to see what India does to get relatively sound macroeconomic fundamentals to pay off in terms of better growth trajectory, she said ahead of the budget.

One thing that is important for India is that budgetary revenue have been below target. "The country knows that. The finance minister knows it. They need to increase budgetary revenue collection so they can improve their fiscal position. I said it's tight on the spending side, but I also want to stress that there is room to improve collection on the revenue side," she said.

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News Network
February 3,2020

Indore, Feb 3: Senior Congress leader Digvijaya Singh on Sunday attacked the Centre for conferring the Padma Shri on Pakistan-origin singer Adnan Sami, who became an Indian citizen in 2016.

Addressing "Save the Constitution, Save the Country" rally here in Madhya Pradesh, Singh said Sami's father had "pounded India with bombs" when he was serving with the Pakistani Air Force (PAF).

"Since Sami is an artist who has come from Pakistan, I had recommended his case to the Indian government for citizenship. He has got Indian citizenship under the Modi government," the Congress leader said, adding that he never made any recommendation to the government for conferring Padma Shri on Sami.

He said Sami's father had "dropped bombs against us" while flying a Pakistan Air Force combat plane.

"In contrast, Indian Army officer Sanaullah of Assam, who had fought against the enemy, was sent to a detention camp for failing to show documents (during the Assam NRC exercise). This is the citizenship law of the Modi government," he said.

Sami, born in London to a Pakistani Air force veteran, applied for Indian citizenship in 2015 and became a citizen of the country in January 2016.

He was one of the 118 people chosen for the Padma Shri awards by the Centre last month.

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Indian Citizen
 - 
Monday, 3 Feb 2020

 

Nowadays, Modi is uttering Pakistan even in his dream, while putting the India & Indians on the fence.

BSF Officer Sanaullah was deprived of his basic rights and put in the detention center while Adnan Sami was granted citizenship and conferred with prestigious "Padma Shri" Award. Really, Modi & Amit Shah duos doesn't know what they are doing in India.....what a bizzare!!!

 

Indian Citizen
 - 
Monday, 3 Feb 2020

Nowadays, Modi is uttering Pakistan even in his dream, while putting the India & Indians on the fence.

BSF Officer Sanaullah was deprived of his basic rights and put in the detention center while Adnan Sami was granted citizenship and conferred with prestigious "Padma Shri" Award. Really, Modi & Amit Shah duos doesn't know what they are doing in India.....what a bizzare!!!

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News Network
June 27,2020

LGeneva, Jun 27:: The number of confirmed coronavirus cases worldwide has risen by over 177,000 in the past 24 hours to 9.4 million and the death toll has topped 480,000, the World Health Organisation (WHO) said on Friday (local time).

On Thursday, the WHO reported 167,056 new cases and 5,336 related deaths.

The fresh daily situation report estimates the number of infections confirmed in the past 24 hours at 177,012. Further, 5,116 virus-related deaths were reported over the same period, taking the toll to 484,249.

The Americas lead the count with over 4.7 million cases, followed by Europe with more than 2.6 million.

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News Network
June 4,2020

New York, Jun 4: The Minneapolis police officer who used his knee to pin down George Floyd's neck before his death was the most experienced of the four officers involved in the arrest, with a record that included medals for bravery and 17 complaints against him, including one for pulling a woman out of her car during a speeding stop.

New details about Derek Chauvin and the other now-fired officers emerged Wednesday after prosecutors upgraded Chauvin's charge to second-degree murder and charged the others with aiding and abetting in a case that has convulsed the nation with protests over race and police brutality.

Heavily redacted personnel files show that Chauvin, a 19-year veteran of the force, was initially trained as a cook and served in the Army as a military police officer.

Eleven-year veteran and native Hmong speaker Tou Thao began as a community service officer and was the subject of six complaints.

The other two officers were relative newcomers to the department, including Thomas Lane, a former juvenile detention guard who did volunteer work with Somali refugees, and J. Alexander Kueng, who got his start in law enforcement by patrolling his college campus and a department store.

The files were notable for what they didn't include. Only one of the 17 complaints against Chauvin was detailed, none of the six against Thao were mentioned and there was no further detail about a 2017 excessive force lawsuit against Thao.

Records show that the 44-year-old Chauvin initially studied cooking before taking courses in law enforcement and doing two stints in the Army as a military police officer in the late 1990s, serving at Fort Benning, Georgia, and in Germany.

Chauvin became a Minneapolis police officer in 2001 and the lone reprimand in his file involved a 2007 incident when he was accused of pulling a woman out of her car after stopping her for going 10 mph (16 kph) over the speed limit.

Investigators found it was not necessary for Chauvin to remove the woman from the car and noted that his squad car video was turned off during the stop.

But Chauvin was also singled out for bravery. Files show he won two medals of valor, one in 2006 for being part of a group of officers who opened fire on a stabbing suspect who pointed a shotgun at them, and another in 2008 for a domestic violence incident in which Chauvin broke down a bathroom door and shot a suspect in the stomach.

He also won medals of commendation in 2008 after he and his partner tackled a fleeing suspect who had a pistol in his hand, and in 2009 for single-handedly apprehending a group of gang members while working as an off-duty security guard at the El Nuevo Rodeo, a Minneapolis nightclub.

Since his arrest, the former owner of the club, Maya Santamaria, said Chauvin and Floyd both worked as security guards there at various times but that she wasn't sure if they had known one another.

She said Chauvin was unnecessarily aggressive on nights when the club had a black clientele, quelling fights by dousing the crowd with pepper spray and calling in several police squad cars as backup, a tactic she called “overkill.”

Chauvin's wife, Kellie, a Laotian immigrant who became the first Hmong winner of the Mrs. Minnesota pageant, said shortly after his arrest last week that she intends to divorce him.

Before news of the upgraded charges, an attorney for Chauvin said he was not making any statements at this time. Lawyers for the others did not return messages seeking comment.

In cellphone video of the May 25 arrest of Floyd, Chauvin is shown pressing his knee onto Floyd's neck for more than eight minutes while Floyd cries out “I can't breathe” and eventually stops moving.

During much of the arrest, Kueng and Lane were helping Chauvin restrain Floyd. Thao was standing nearby keeping onlookers back.

According the complaint, at one point during the arrest, as Chauvin held Floyd down with his knee, Lane asked Chauvin twice whether they should roll Floyd over.

“No, staying put where we got him,” Chauvin replied, “I am worried about excited delirium or whatever,” Lane said. And Chauvin replied again, “That's why we have him on his stomach.” None of the three officers moved from their positions.

Lane joined the police early last year as a 35-year-old cadet — much older than most rookies — and became a full-fledged officer last December. He had no complaints in his file during his short time on the force.

On employment forms, the University of Minnesota graduate said he done volunteer work tutoring Somali youth and as a mentor helping at-risk elementary school students with reading and homework.”

Kueng, at 26 the youngest of the four officers, was also a recent recruit to the police force. He completed his year's probation just three months before the Floyd arrest.

His personnel file, which notes that he speaks, reads and writes Russian, did not include any commendations or disciplinary actions during his short time on force.

Kueng was a 2018 graduate of the University of Minnesota, where he worked part-time as part of the campus security force. He also worked nearly three years as a theft-prevention officer at Macy's.

Thao joined the police force part-time in 2008 while attending a community college. Before that, he worked as a security guard, a supermarket stocker and trainer at McDonald's.

City records show six complaints were filed against Thao, but there was no mention of that in the records released Wednesday. There also was no mention of a 2017 federal lawsuit accusing him and another officer of excessive force.

According to the lawsuit, Lamar Ferguson claimed that in 2014, Thao and his partner stopped him and beat him up while he was on his way to his girlfriend's house. The lawsuit was settled for $25,000 ___

Richmond reported from Madison, Wisconsin. Associated Press writer Scott Bauer in Madison and researcher Rhonda Shafner in New York contributed to this report.

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