Muslims shouldn’t live in India; they must go to Pak or Bangla: BJP MP

New Delhi, May 24: The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report.

According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.

"The multiplier effect of the stimulus measures on the economy will depend on three key aspects i.e. the time taken for effecting the withdrawal of the lockdown, the efficacy of implementation and duration of execution of the measures announced," Dun & Bradstreet India Chief Economist Arun Singh said.

The report noted that the government's larger-than-expected stimulus package is likely to re-start economic activities.

Besides, measures taken by the Reserve Bank of India like reducing the repo rate by a further 40 basis points to 4 per cent, extending the moratorium period by three months and facilitating working capital financing will also help stimulate the momentum.

Singh said while the measures announced by the government are "positive", most of them have been directed towards strengthening the supply side of the economy, and "it is to be noted that supply needs to be matched with demand", he said.

Besides, "in the absence of cash-in-hand benefits under the government's stimulus package, demand for goods and services is expected to remain depressed", he added.

He further said the loss in income and employment opportunities, and cautiousness among consumers, will lead to a delayed recovery in consumer demand, even after the pandemic. As debt and bad loan levels increase, the banking sector might face challenges.

The report further noted that even as the monetary stimulus is expected to inject liquidity and stimulate demand for a wider section of the economy, the channelisation of funds from the financial institutions will be subjected to several constraints.

The foremost concern being increase in risk averseness, as the balance sheets of firms, households, and banks/NBFCs have weakened considerably and low demand for funds by firms as production activities have been on a standstill during the lockdown period, Singh said.

India has been under lockdown since March 25 to contain the spread of the coronavirus, resulting in supply disruptions and demand compression.

Prime Minister Narendra Modi imposed a nationwide lockdown to control the spread of coronavirus on March 25. It has been extended thrice, with some relaxations. The fourth phase of the lockdown is set to expire on May 31. 

Bengaluru, May 7: Karnataka Minister for Labour Shivaram Hebbar, on Thursday, ordered issuance of notice to employers who have not paid salary to the workers during lockdown period amid Coronavirus threat in the state.

The Ministry has also directed serving notice to those employers who have reduced the wages of the workers in April '20, official sources told UNI here.

State Chief Minister B S Yediyurappa had appealed to the employers not to retrench any employee from the job because of their failure to attend to work because of Coronavirus which is spreading like wildfire and since they have been asked to remain in the house.

Mangaluru, Jul 18: Days after Air India operated a flight from Qatar to Mangaluru,  the Karnataka Cultural Foundation (KCF) chartered a flight from Doha to this coastal city to repatriate the stranded NRIs. The flight landed at Mangaluru International Airport on July 16.

This KCF operated flight left the Hamad International Airport Doha at 9:35 am and reached Mangaluru international Airport at 16:10 pm on Thursday. 

The flight had over 174 NRIs, included pregnant women, patients in need of urgent medical treatment, senior citizens, and those who were stuck with expired visit visa and job loss. With the timely intervention Dr Arathi Krishna has helped a patient to make his approval from embassy, who had to leave for medical treatment on emergency basis.

Starting from the registration of travellers, KCF has provided all with the necessary documental, health-related information and each of them have been met by KCF representatives along with snacks and PPE kit to be worn during the journey as a precaution against the spread of the pandemic. 

Organization workers were constantly in touch with each of its passengers, supporting them for their safety and serve them during journey and stay at the hotels and this will continue until the quarantine is completed.

KCF, the proud organization of Kannadigas has been working in the public sphere, and this initiative of charter flight and their dedication on this have been praised by travellers.

On their successful charter, KCF thanks Dr Arathi Krishna, former vice-chairman of Karnataka State NRI Forum for her extensive support on acquiring relevant documental clearances. Sindhu B Rupesh, the deputy commissioner of Mangaluru, Dr Yathish Ullal, assistant commissioner of Mangaluru, Meena Nagaraj, the nodal officer, Bengaluru, are also praised for their timely approvals and permissions for this charter.

The untiring efforts, hard works by the workers and leaders of SSF, SYS and Karnataka Muslim Jama-ath have been appreciated and background supports by Moulana Shafi Sa-adi, the member of Karnataka state Waqf Board is also remembered by KCF Qatar.

The members of KCF Qatar have been tirelessly working behind this grand success, the chairman Abdul Raheem Saadi and general convener Muneer Magundi have thanked all its members, including Embassy officials and Indigo Airlines for all cooperation.