Moody's has rated PM Modi's handling of India's economy a step above 'junk': Rahul Gandhi

News Network
June 2, 2020

New Delhi, Jun 2: Congress leader Rahul Gandhi on Monday took a jibe at Prime Minister Narendra Modi over Moody's Investors Service downgrading India's sovereign rating to the lowest investment rate and said that the global rating agency has rated his handling of the country's economy "a step above junk".

"Moody's has rated Modi's handling of India's economy a step above JUNK. Lack of support to the poor and the MSME sector means the worst is yet to come," the Congress leader tweeted citing a media report on Moody's downgrading the nation.

On Monday, Moody's downgraded the country's rating to "Baa3" from "Baa2". This comes at a time when the government is facing criticism from the Opposition over its handling of the COVID-19 situation and measures to boost the economy.

The government has already announced a stimulus package of Rs 20 lakh crore to deal with the situation.

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News Network
January 30,2020

Jan 30: The death toll rose to 170 in the new virus outbreak in China on Thursday as foreign evacuees from the worst-hit region begin returning home under close observation and world health officials expressed “great concern” that the disease is starting to spread between people outside of China.

Thursday’s figures cover the previous 24 hours and represent an increase of 38 deaths and 1,737 cases for a total of 7,711. Of the new deaths, 37 were in the epicenter of the outbreak in Hubei province and one in the southwestern province of Sichuan.

The news comes as the 195 Americans evacuated from Wuhan, the Hubei province city of 11 million where the outbreak originated, are undergoing three days of testing and monitoring at a Southern California military base to make sure they do not show signs of the virus.

A group of 210 Japanese evacuees from Wuhan landed Thursday at Tokyo’s Haneda airport on a second government chartered flight, according to the foreign ministry. Reports said nine of those aboard the flight showed signs of cough and fever. Three of the 206 Japanese who returned on Wednesday tested positive for the new coronavirus, Prime Minister Shinzo Abe said during a parliamentary session. Two of them showed no symptoms of the disease.

France, New Zealand, Australia and other countries are also pulling out their citizens or making plans to do so.

The World Health Organization emergencies chief said the few cases of human-to-human spread of the virus outside China — in Japan, Germany, Canada and Vietnam — were of “great concern” and were part of the reason the U.N. health agency’s director-general was reconvening a committee of experts on Thursday to assess whether the outbreak should be declared a global emergency.

The new virus has now infected more people in China than were sickened there during the 2002-2003 SARS outbreak.

Dr. Michael Ryan spoke at a news conference in Geneva on Wednesday after returning from a trip to Beijing to meet with Chinese President Xi Jinping and other senior government leaders. He said China was taking “extraordinary measures in the face of an extraordinary challenge” posed by the outbreak.

To date, about 99% of the cases are in China. Ryan estimated the death rate of the new virus at 2%, but said the figure was very preliminary. With fluctuating numbers of cases and deaths, scientists are only able to produce a rough estimate of the fatality rate and it’s likely many milder cases of the virus are being missed.

In comparison, the SARS virus killed about 10% of people who caught it. The new virus is from the coronavirus family, which includes those that can cause the common cold as well as more serious illnesses such as SARS and MERS.

Scientists say there are many questions to be answered about the new virus, including just how easily it spreads and how severe it is.

In a report published Wednesday, Chinese researchers suggested that person-to-person spread among close contacts occurred as early as mid-December.

“Considerable efforts” will be needed to control the spread if this ratio holds up elsewhere, researchers wrote in the report, published in the New England Journal of Medicine.

More than half of the cases in which symptoms began before Jan. 1 were tied to a seafood market, but only 8% of cases after that have been, researchers found. They reported the average incubation period was five days.

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Agencies
January 15,2020

Mumbai, Jan 15: The Reserve Bank of India (RBI) on Wednesday redistributed portfolios of Deputy Governors following the appointment of Michael Debabrata Patra to the post.

An official release said that NS Vishwanathan will handle co-ordination, Department of Regulation (DOR), Department of Communication (DoC), Enforcement Department, Inspection Department (ID), Risk Monitoring Department (RMD), and Secretary's Department.

BP Kanungo will look after Department of Currency Management (DCM), Department of External Investments and Operations (DEIO), Department of Government and Bank Accounts (DGBA), Department of Information Technology (DIT), Department of Payment and Settlement Systems (DPSS), Deposit Insurance and Credit Guarantee Corporation (DICGC), Foreign Exchange Department (FED), Internal Debt Management Department (IDMD), Legal Department (LD) and Right to Information (RIA) Division.

The release said that MK Jain will handle the Department of Supervision (DOS), Consumer Education and Protection Department (CEPD), Financial Inclusion and Development Department (FIDD), Human Resource Management Department (HRMD), HR Operations Unit (HR-OU), Premises Department (PD), Central Security Cell (CSC), and Rajbhasha Department.

Patra will look after the Monetary Policy Department including Forecasting and Modelling Unit (MPD/MU), Financial Markets Operations Department (FMOD), Financial Markets Regulation Department including Market Intelligence (FMRD/MI), International Department (Intl. D), Department of Economic and Policy Research (DEPR), Department of Statistics & Information Management (including Data and Information Management Unit) (DSIM/DIMU), Corporate Strategy and Budget Department (CSBD) and Financial Stability Unit.

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News Network
February 9,2020

Panaji, Feb 9: Archbishop of Goa and Daman, Rev Filipe Neri Ferrao, has urged the central government to "immediately and unconditionally revoke the Citizenship Amendment Act" and stop quashing the "right to dissent".

He also appealed to the government not to implement the proposed countrywide National Register of Citizens (NRC) and the National Population Register (NPR).

Diocesan Centre for Social Communications Media, a wing of the Goa Church, in a statement on Saturday said, "The Archbishop and the Catholic community of Goa would like to appeal to the government to listen to the voice of millions in India, to stop quashing the right to dissent and, above all, to immediately and unconditionally revoke the CAA and desist from implementing the NRC and the NPR."

The CAA, NRC and NPR are "divisive and discriminatory" and will certainly have a "negative and damaging effect" on a multi-cultural democracy like ours, the church said.

There is serious concern that NRC and NPR will result in "direct victimisation of the underprivileged classes, particularly Dalits, adivasis, migrant labourers, nomadic communities and the countless undocumented people who, after having been recognised as worthy citizens and voters for more than 70 years, will suddenly run the risk of becoming stateless and candidates for detention camps," it said.

There has been widespread discontent and open protests throughout the country and even abroad against the CAA, NRC and NPR, which are "forecasting a systematic erosion of values, principles and rights" that have been guaranteed to all citizens in the Constitution, the release said.

Eminent citizens, including top intellectuals and legal luminaries, have taken a studied and unequivocal stand against the CAA, NRC and NPR, it noted.

Goa also witnessed several protests, which transcended the confines of religious and caste affiliation and brought people from all walks of life together on one united platform, said the statement.

It said Christians in India have always been a peace-loving community and deeply committed to the ideals of justice, liberty, equality and fraternity, enshrined in the Constitution.

"We have always taken great pride that our beloved country is a secular, sovereign, socialist, pluralistic and democratic republic," the church said.

The very fact that CAA uses religion goes against the secular fabric of the country, it said. "It goes against the spirit and heritage of our land which, since times immemorial, has been a welcoming home to

all, founded on the belief that the whole world is one big family," the church said.

"We pray for our beloved country, that good sense, justice and peace prevail in the hearts and minds of all," it added.

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