Govt. may cut spend, raise NRI deposit rates to boost economy

June 24, 2012
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New Delhi, June 24: The steps to be announced on Monday by the government and the Reserve Bank of India may include raising the interest for deposits of Non-Resident Indians, cutting down wasteful expenditures and unveiling a bond issue for overseas investors to improve capital inflows in the wake of the rout in rupee.

Economic growth has fallen to a nine-year low of 6.5 per cent in 2011-12 and industrial output continues to be sluggish with a mere 0.1 per cent growth in April. Inflation too remained at an elevated level of 7.55 per cent in May 2012.

“Private investment in India is constrained by lack of availability of funds. Government might announce some measures for attracting investments and also steps to cut down wasteful expenditures,” said Y.K. Alagh, chairman, Institute of Rural Management.

Hit by a weak global sentiment and subdued local macroeconomic performance, the rupee has lost over 25 per cent in the last one year. It also breached the 57 level against the dollar on June 22, 2012.

Market analysts expect RBI to announce an increase in interest rates for NRI deposits. They also expect government to announce a bond issue to attract inflows.

“RBI may increase the interest rate on FCNR(B) deposit further and announce the issuance of bonds for Non-Resident Indians to address the issues in the short-term” Crisil Chief Economist D.K. Joshi said.

Experts also see steps being taken to reduce the twin deficits. CNI Research Head Kishor Ostwal said, “It might take steps to tame fiscal and current account deficits.”

Finance Minister Pranab Mukherjee had on Saturday announced that the government and the RBI would take steps to arrest the declining rupee and improve market conditions.

“The steps we have taken... And we will be able to take certain measures to be announced on Monday which will improve market condition,” he had said.

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News Network
June 8,2020

New Delhi, Jun 8: Delhi Chief Minister Arvind Kejriwal has gone into self-quarantine after developing sore throat and fever, and will get himself tested for COVID-19 on Tuesday, officials said on Monday.

They said the chief minister, who is also a diabetic, was feeling unwell since Sunday afternoon.

"He has mild fever and sore throat since Sunday afternoon. As advised by doctors, the chief minister will undergo COVID-19 test on Tuesday morning," officials said.

Officials said the CM had attended a Cabinet meeting on Sunday morning and thereafter, he did not attend any meeting.

The chief minister has been holding most of his meetings via video conferencing from his official residence for past two days.

This come as the number of coronavirus cases in the national capital crossed the 28,000-mark with 1,282 fresh infections while the death toll climbed to 812 on Sunday, a health bulletin issued by the Delhi government said. According to the health bulletin, the total number of COVID-19 cases in Delhi rose to 28,936 with 1,282 fresh cases.

A total of 51 fatalities were reported on June 6, the bulletin said, adding that these lives were lost between May 8 and June 5. It, however, said the cumulative death figure refers to fatalities where the primary cause of death was found to be COVID-19, according to a report of the Death Audit Committee on the basis of the case-sheets received from various hospitals.

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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
January 11,2020

Kochi, Jan 11: Two of the four illegal apartment complexes were brought down by controlled implosion here on Saturday.

However, the other two apartments-- Golden Kayaloram and Jain Coral-- will be demolished on Sunday.

The demolition of the first building Holy Faith H2O, slated to be carried out at 11 am, was delayed by 18 minutes while the twin towers of Alfa Serene, which is surrounded by 36 houses, were brought down at 11.43 am.

As per authorities, as many as 343 kgs of explosives were used for the demolition of twin towers of Alfa Serene, which had 80 apartments and 16 floors each.

Section 144 has been imposed within a 200-metre radius of the complexes on Saturday and Sunday. Moreover, traffic has been halted on land, water and air in the evacuation zone during the process.

There are concerns that some concrete pieces of the second tower of the building may have fallen into the lake nearby. It is yet to be estimated if the debris or concrete pieces have affected the buildings nearby.

The four apartment complexes in Maradu were ordered to be demolished by the Supreme Court for violating the Coastal Regulation Zone (CRZ) norms.

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