More stringent governance norms needed to address economic slowdown: Report

News Network
January 20, 2020

New Delhi, Jan 20: Surging inflation and slowing growth are raising serious concerns about the future growth prospects of the economy and as a remedial measure the government should resolve supply-side hurdles and ensure more stringent governance norms, a report said on Monday.

According to the Dun and Bradstreet Economy forecast, even though the Index of Industrial Production (IIP) turned positive in November 2019, it is likely to remain subdued.

"Slowdown in consumption and investment along with high inflationary pressures, geopolitical issues and uncertainty over the recovery of the economic growth are likely to keep IIP subdued," the report noted.

Dun and Bradstreet expect IIP to remain around 1.5-2.0 percent during December 2019.

As per government data, industrial output grew 1.8 percent in November, turning positive after three months of contraction, on account of growth in the manufacturing sector.

On the price front, uneven rainfall along with floods in many states and geopolitical issues have led to a surge in headline inflation even as demand remains muted.

The Consumer Price Index (CPI) in December rose to about five-and-half year high of 7.35 percent from 5.54 percent in November, mainly driven by high vegetable prices.

"The sharp rise in inflation has constrained monetary policy stimulus while revenue shortfall has placed limits on the government expenditure," Dun & Bradstreet India Chief Economist Arun Singh said.

According to Singh, growth-supporting measures and deceleration in growth are likely to cause slippage in fiscal deficit target by a wider margin.

"The government should focus on taking small steps to address the slowdown; in particular, resolve the supply-side hurdles and ensure more stringent governance norms," Singh said.

Unless these concerns are addressed through a comprehensive policy framework, it will not be easy for India to clock a sustainable growth rate to become a USD 5 trillion economy, he added.

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Agencies
May 21,2020

Eminent river engineer and former professor of civil engineering at IIT in the Banaras Hindu University (BHU) Prof. U.K. Choudhary has said that the judicious use of river technology can help resolve the Coronavirus crisis as well as the plight of Ganga river.

Choudhary, who is also founder of Ganga Research Centre at IIT (BHU), said: "The Ganga water contains a significantly higher proportion of bacteriophages - a kind of virus that kill bacteria. Our ancient scriptures like Vedas, Puranas and Upanishads say that Ganga jal is medicinal water. Scientists later found that Ganga water has bacteriophages capable of killing pathogens."

Explaining further, he said, "Let us analyze the source of bacteriophages. If we take three rivers of Himalayan origin having sources at different heights -the Ganga (Gomukh), Yamuna (Yamunotri) and the Sone river, we find the colours of waters are different. The whitish colour of Ganga water, greenish colour of Yamuna water and the brownish colour of Sone water is also indicative. As Gomukh is the highest among the three, its water comes from lowest depth of aquifer as compared to Yamunotri and Sone river," he explained.

Thus, the quality of river water is proportional to height of origin point. This defines the genetic character of Ganga water. The balanced flow of this water in entire length of the Ganga defines the medicinal property of Ganga water," he stated.

Prof Chaudhary said that the bacteriophages in the Ganga can curb the spread of coronavirus through soil, water and air.
He suggested that the idea is to preserve the medicinal value of Ganga water and to use it to fight Corona. He said that this can be done by opening the gates of all the dams and barrages in a way that the discharge through each is similar to the water at Gomukh. In this way, the concentration of bacteriophage will be enhanced in Ganga water making it more effective against pathogens.

"With increasing diffusion of bacteriophages in water and soil, the spread of Coronavirus will be impacted and reduced. This methodology and technique can also help maintain the quality of Ganga water later when the problem of Corona ends," he said.

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Agencies
July 16,2020

New Delhi, Jul 16: A group of 174 Indian nationals, including seven minors, has filed a lawsuit against the recent presidential proclamation on H-1B that would prevent them from entering the United States or a visa would not be issued to them.

Judge Ketanji Brown Jackson at the US District Court in the District of Columbia issued summonses on Wednesday to Secretary of State Mike Pompeo and acting Secretary of Homeland Security Chad F Wolf, along with Labor Secretary Eugene Scalia.

The lawsuit was filed in the US District Court on Tuesday.

"The proclamation 10052's H-1B/H-4 visa ban hurts the United States' economy, separates families and defies the Congress. While the two former points render it unseemly, the latter point renders it unlawful," said the lawsuit filed by lawyer Wasden Banias on behalf of the 174 Indian nationals.

The lawsuit seeks an order declaring the presidential proclamation restriction on issuing new H-1B or H4 visas or admitting new H-1B or H-4 visa holders as unlawful. It also urges the court to compel the Department of State to issue decisions on pending requests for H-1B and H-4 visas.

In his presidential proclamation on June 22, Trump temporarily suspended issuing of H-1B work visas till the end of the year.

"In the administration of our nation's immigration system, we must remain mindful of the impact of foreign workers on the United States labor market, particularly in the current extraordinary environment of high domestic unemployment and depressed demand for labor," said the proclamation issued by Trump.

In his proclamation, Trump said the overall unemployment rate in the United States nearly quadrupled between February and May of 2020 -- producing some of the most extreme unemployment ever recorded by the Bureau of Labor Statistics.

While the May rate of 13.3 per cent reflects a marked decline from April, millions of Americans remain out of work.

The proclamation also extends till year-end his previous executive order that had banned issuance of new green cards of lawful permanent residency. Green Card holders, once admitted pursuant to immigrant visas, are granted "open-market" employment authorisation documents, allowing them immediate eligibility to compete for almost any job in any sector of the economy, Trump said.

Forbes, which first reported the lawsuit filed by the Indian nationals, said the complaint points out that the Congress specified the rules under which H-1B visa holders could work in the US and balanced the interests of US workers and employers.

"The complaint seeks to protect H-1B professionals, including those who have passed the labor certification process and possess approved immigrant petitions. Such individuals are waiting for their priority date to obtain permanent residence, a wait that can take many years for Indian nationals," Forbes reported.

Meanwhile, several lawmakers urged Scalia on Tuesday to reverse the work visa ban.

"Throughout this administration, the president has continued to lament the alleged abuses of the immigration system while failing to address the systemic problems that have persisted and allowed businesses and employers to exploit and underpay immigrant workers, guest workers and American workers," the lawmakers wrote.

"This misguided attempt by the president to scapegoat immigrants for policy failures during the pandemic not only serves to hurt immigrants, but dismisses the true problem of a broken work visa program that is in desperate need of reform," said the letter, which among others was signed by Congressmen Joaquin Castro, Chair of the Congressional Hispanic Caucus; Bobby Scott, Chair of the Education and Labor Committee; Karen Bass, Chair of the Congressional Black Caucus; Judy Chu, Ra l Grijalva, Vicente Gonzalez, Yvette Clarke and Linda S nchez.

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Agencies
May 27,2020

Global health experts on Wednesday said novel coronavirus is here to stay for more than a year and called for aggressive testing to prevent its spread.

In an interaction with Congress leader Rahul Gandhi, health experts Professor Ashish Jha and Professor Johan Giesecke talked about the COVID-19 pandemic as part of the series being aired on Congress social media channels.

While Jha exuded confidence that a vaccine will be available in a year's time, Prof Giesecke said India should practice a lockdown that is as 'soft' as possible, as a severe lockdown will ruin its economy very quickly.

"When the economy is opened up after lockdown, you have to create confidence among people," Harvard health expert Ashish Jha told Gandhi.

Jha is a professor of Global Health at TH Chan School of Public Health and Director, Harvard Global Health institute.

He said coronavirus is a '12-18 months' problem and the world is not going to be free of this till 2021.

The expert also called for the need for aggressive testing strategy for high-risk areas.

Gandhi, while interacting with the experts, said life is going to change post COVID-19.

"If 9/11 was a new chapter, this will be a new book," he remarked.

Professor Johan Giesecke, former chief scientist, European Centre for Disease Prevention and Control said India should have a 'soft lockdown'.

"The situation that India is in, I think, you should have a soft lockdown, as soft as possible," he said.

"I think for India, you will ruin your economy very quickly if you have a severe lockdown. It is better, skip the lockdown, take care of the old and the frail...," he noted.

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