PM tells FinMin to revive ‘animal spirit’ in economy

June 28, 2012

manmohan

New Delhi, June 28: Alarmed over the state of economy and low morale of India Inc, Prime Minister Manmohan Singh on Wednesday asked the finance ministry officials to take steps to “reverse the climate of pessimism and give a push to sagging economy.”

Addressing a meeting of the senior officials of the ministry and policy makers for the first time after taking charge of the finance ministry, Singh remarked that there was a need to revive investors’ sentiment.

“At the current juncture, we are passing through challenging times economically. The growth rate has taken a dip; the industrial performance is not satisfactory; things are not rosy on the investment front; inflation continues to be a problem,” he said.

Singh, who has taken charge of the ministry following the resignation of Pranab Mukherjee, stressed the need to “revive the animal spirit in the country's economy."

"Immediate emphasis is to manage balance of payment, for which all policies should be directed to help institutional flows to India," he said adding "in the short run, we need to revive investor sentiment".

He expressed concern over the way the rupee was getting weaker by the day. Investor sentiment is down and capital flows are drying up, he added.

“There are some external reasons and we need to work towards making our country resilient in meeting these external challenges. However, there are many domestic reasons as well. We need to address these quickly.”

“The way it (finance ministry) functions is critical for the future of millions of our countrymen who look up to the government to throw open channels for their progress, prosperity and welfare. Therefore, it has a vital role in evolving economic policies.”

Chief Economic Adviser, Kaushik Basu, Principal Secretary to PM Pulok Chatterjee, secretaries in the Finance Ministry, R Gopalan, R S Gujral, Sumit Bose, D K Mittal and Mohmd Haleem Khan were present at the meeting.

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News Network
February 22,2020

New Delhi, Feb 22: China is delaying grant of clearance to India's proposal to send an Indian Air Force flight to carry relief material for people affected by coronavirus in the neighbouring country and bring back Indians from its city of Wuhan, official sources said Saturday.

India was to send a C-17 military transport aircraft to Wuhan, the epicentre of the coronavirus outbreak, on February 20 but the plane could not take off as permission was not granted for the flight.

"China is deliberately delaying grant of clearance for the evacuation flight," a high-level source said.

The aircraft was to carry a large consignment of medical supplies to China and bring back more Indians from Wuhan.

Sources said the Chinese side continued to maintain that there was no delay in granting permission for the flight to go, but "inexplicably" the clearance has not been given.

In a letter to President Xi Jinping earlier this month, Prime Minister Narendra Modi conveyed India's solidarity to the people and government of China in meeting the challenge of the coronavirus outbreak and offered to provide assistance to the country.

India then put together relief supplies in pursuance of Modi's commitment as a token of India's solidarity, particularly in the 70th year of the anniversary of diplomatic relations between the two countries.

"These supplies have been offered even as India faces tremendous shortage itself, given our ethos of helping others in their hour of need," said a source aware of the issue.

The items being supplied are gloves, surgical masks, feeding pumps and defibrillators based on the requirements as indicated by the Chinese side.

India's national carrier Air India has already evacuated around 640 Indians from Wuhan in two separate flights.

According to estimates, over 100 Indians are still living in Wuhan. A sizeable number of countries have evacuated their citizens from China and restricted movement of people and goods to and from the country in view of the massive outbreak of coronavirus there.

Indian nationals in Wuhan continue their long wait for the flight. The delay is causing them and their family members in India tremendous mental anguish, said the sources.

They said relief and evacuation flights from other countries including by France are allowed to operate by China but the permission has not come through in India's case.

"Are they not interested in Indian aid provided as our token of support? Why are they creating roadblock in evacuating our nationals from Wuhan and putting them under hardship and mental agony?" said a person aware of the issue.

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March 24,2020

Gautam Buddh Nagar, Mar 24: As many as 96 First Information Reports (FIRs) were registered and more than 2000 challans issued in Noida yesterday for violation of lockdown rules, police said. The lockdown was imposed in a bid to contain the spread of coronavirus, which has taken more than 14000 lives across the globe.

The FIRs were registered against people for allegedly flouting Section 144 and not adhering to the orders of the state government for staying indoors.
Chief Minister Yogi Adityanath on Monday stated that all borders adjoining Uttar Pradesh should be completely sealed.

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News Network
March 2,2020

Tezpur (Assam), Mar 2: Seven boys, who had appeared for their class 10 board examinations, were apprehended on Sunday for allegedly raping and killing a 12-year-old girl in Assam's Biswanath district, police said.

The girl was hanged from a tree after the crime.

The incident happened on Friday in Chakla village under the jurisdiction of Gohpur police station, they said.

A senior police officer told PTI that the culprits, all of them High School Leaving Certificate (HSLC) examinees, were on the run, but were nabbed by a police team.

The accused after the examination had called the victim to a house on the pretext of organising a party and raped her, the officer said.

It is suspected that the girl was raped on Friday night and then hanged from a tree in a forest near the house, the senior police officer said.

The body was found on Saturday.

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