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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News Network
February 13,2020

New Delhi, Feb 13: Arvind Kejriwal wrote to Delhi Lieutenant Governor Anil Baijal on Wednesday, staking claim to form the government in the national capital, sources said, while hinting that the AAP might not invite senior leaders and chief ministers of other parties for the oath-taking ceremony.

The sources said it was the formal process by the AAP chief, who was elected as the legislature party leader earlier in the day, to stake claim for forming the new government.

Kejriwal, who returned to power in Delhi with a stunning poll victory on Tuesday, will take oath as chief minister for the third consecutive time on February 16.

While the oath-taking ceremony will be open to the public, the Aam Aadmi Party (AAP) was considering not inviting leaders and chief ministers of other parties as it did not wish to be seen as a "confrontationist" against the BJP-led Centre, the sources said.

They, however, added that the party was yet to take a decision on it.

The AAP has planned mobilisation of people for the mega event and all the newly-elected MLAs of the party have been asked to ensure huge participation from their constituencies.

"I request the people of Delhi to attend the oath-taking ceremony of the chief minister at the Ramlila Maidan in large numbers," senior AAP leader Manish Sisodia told reporters, adding that the ceremony will start at 10 am.

The AAP won 62 seats in the 70-member Delhi Assembly, while the Bharatiya Janata Party (BJP) bagged the remaining eight seats. The Congress drew a blank for the second consecutive time in the Delhi polls.

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News Network
July 19,2020

Lucknow, Jul 19: The animal markets, which are usually bustling with activity ahead of Bakrid, are desolate this year.

The Covid-19 pandemic has shorn all festivals of public celebrations, and people are apprehensive that the tradition of animal sacrifice may be affected due to social distancing norms.

Also there is a massive drop in demand for sacrificial animals due to the financial impact of the crisis.

Chairman of All India Jamiat-ul-Quresh Sirajuddin Qureshi urged the government to come out with guidelines for carrying out the celebrations in the traditional way.

The festival will fall on July 31 or August 1. Buyers and sellers start thronging the animal markets almost two weeks ahead of the festival. But this year only a negligible number of buyers have turned up in animal markets in old Lucknow areas including Nakkhas, according to traders.

"It is very difficult to say as to what the government is thinking. 'Qurbani' is a matter of faith for the Muslims. We appeal to the government to deliberate and find a solution. This is a national problem, and our office bearers are speaking to different state governments," Qureshi said.

In the absence of guidelines, not many madrassas are buying animals for sacrifice, he said.

"The madrasas where collective 'qurbani' is done, are also not coming forward. In Bakrid, along with goats, buffaloes are also sacrificed. The government should ensure that people who are transporting the animals are not harassed by the police," Qureshi said.

Prominent Muslim cleric Khalid Rasheed Farang Mahali said he had raised the issue with the Uttar Pradesh chief minister.

"I have recently met Chief Minister Yogi Adityanath requesting him to issue guidelines for Bakrid. I am hopeful that the guidelines will be released soon," he said.

Rahat Ali, a goat trader from Rajasthan said, thousands of people will be affected due to the reduced demand for animals.

"The animal trade works in a chain involving farmers who rear animals, small traders and big traders.

"The traders buy the animals from the farmers. These are then sent to various states like Maharashtra, Gujarat and Uttar Pradesh. In the absence of demand, I did not purchase animals this year," he said.

Sajid, who supplies goats to various districts in western Uttar Pradesh, said the lockdown has affected the livelihood of people and not many have the money to buy animals for sacrifice.

"The lockdown has drained the people of their money. As a result, the animals are not getting sold," he said.

The Maharashtra government has come out with guidelines for Eid al-Adha, also known as Bakrid or Id-ul-Zuha, noting that there is a ban in place on all religious programmes and people should offer "namaz" in their homes and not in mosques.

It also said sacrificial animals should be bought online or over the phone as markets dealing with them will be closed, adding that "qurbani" should preferably be symbolic.

There will be no relaxation in restrictions for Eid in containment zones, and people are directed not to congregate in public places on the day of the festival, it added. 

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News Network
July 14,2020

Jaipur, Jul 14: In a show of strength, Deputy Chief Minister Sachin Pilot-led Rajasthan Congress camp on Monday released a video showing at least 16 MLAs sitting together.

This comes hours after the Congress held a legislature party meeting. Party leaders said 106 of 122 MLAs attended, a claim contested by the Pilot camp.

The 10-second video was shared late at night on Pilot's official WhatsApp group.

In the video, at least 16 MLAs are seen sitting together in a close circle. Pilot is not seen in the video.

Six other people can be seen in the video but they could not be identified.

Some of the MLAs seen in the video are Indraraj Gurjar, Mukesh Bhakar, Harish Meena.

Tourism Minister Vishvendra Singh tweeted the video with the caption "Family".

Ladnun MLA Mukesh Bhakar tweeted, "...Loyalty in Congress means Ashok Gehlot's slavery. That is not acceptable to us."

Pilot has been upset since he was denied the Rajasthan chief minister's post after the December 2018 assembly elections.

On Sunday, he claimed to have the backing of 30 Congress MLAs and "some independents".

Those close to him disputed Gehlot's claim that his government had a majority, and said this is proven in the assembly and not at the CM's house.

Sources close to him have also ruled out the possibility of Pilot joining the BJP.

In the 200-member Rajasthan Assembly, the Congress has 107 MLAs and the BJP 72. In the past, the ruling party has claimed the support of 13 independents, two MLAs each from the CPM and the Bharatiya Tribal Party, and one from the Rashtriya Lok Dal.

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