Opposition lying to farmers over FDI, says Rahul Gandhi

Jammu, Jan 18: Prepaid mobile connections were restored in Jammu and Kashmir on Saturday and 2G services resumed in two districts of the valley after being disconnected on August 5 last year. Voice and SMS facilities were restored for all local prepaid mobile phones across the Union territory.

Rohit Kansal, the principal secretary to the administration of Jammu and Kashmir said the order will come into effect from Saturday.

In order to consider giving mobile Internet connectivity on such SIM cards, the telecom service providers will have to verify the credentials of the subscribers, he said.

Internet service providers have been asked to provide fixed line Internet connectivity in all the 10 districts of Jammu region and two districts, Kupwara and Bandipora, in North Kashmir.

Telecom services were shut in the entire Jammu and Kashmir on August 5 when the Centre abrogated special status to the erstwhile state and also bifurcated it into two Union Territories.

However, the Supreme Court came down heavily on the UT administration last week for arbitrarily shutting down the Internet, the facility described as the fundamental right by the apex court.

May 13: Senior Congress leader P Chidambaram on Wednesday mocked the prime minister's announcement of a Rs 20 lakh crore financial package as a "headline and blank page", and said he was looking forward to the finance minister filling the blank page.

Prime Minister Narendra Modi on Tuesday announced massive new financial incentives on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore.

Chidambaram said he would count every additional rupee the government infuses into the economy and examine what the poor, hungry and devastated migrant workers get after walking hundreds of kilometres to their home states.

"Yesterday, PM gave us a headline and a blank page. Naturally, my reaction was a blank!

"Today, we look forward to the FM filling the blank page. We will carefully count every ADDITIONAL rupee that the government will actually infuse into the economy," he said on Twitter.

The former finance minister said "We will also carefully examine who gets what?".

"And the first thing we will look for is what the poor, hungry and devastated migrant workers can expect after they have walked hundreds of kilometres to their home states.

"We will also examine what the bottom half of the population (13 crore families) will get in terms of REAL MONEY," he said in a series of tweets.

Congress leader Jairam Ramesh also slammed the prime minister's announcement.

"Last night the Prime Minister did what comes to him best. Maximum packaging, Minimum meaning.It was a case of classic NAMO. No Action Message Only," he said on Twitter.

Mumbai, Mar 27: The Reserve Bank of India (RBI) on Friday lowered the key repo rate by 75 basis points to 4.4 per cent in a bid to arrest the economic slowdown amid coronavirus (COVID-19) outbreak.
The reverse repo rate now stands at 4 per cent, down by 90 basis points, said RBI Governor Shaktikanta Das adding this has been done to make it unattractive for banks to passively deposit funds with the central bank and instead lend it to the productive sectors.
The six-member monetary policy committee (MPC) met on March 24, 25 and 27 and voted 4:2 in favour of the repo rate reduction. The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth and mitigate the impact of COVID-19 on the economy while ensuring that inflation remains within the target.
"The need of the hour is to shield the economy from the pandemic," said Das. "We need to mitigate the impact of coronavirus, revive economic growth and provide financial stability."
Repo rate is the rate at which a country's central bank lends money to commercial banks, and the reverse repo rate is the rate at which it borrows from them.
The RBI Governor further said that the economic growth and inflation projection will be highly contingent depending on the duration, spread and intensity of the pandemic.
"Global economic activity has come to a near standstill as COVID-19 related lockdowns and social distancing are imposed across a widening swathe of affected countries. Expectations of a shallow recovery in 2020 from 2019's decade low in global growth have been dashed," said Das.
"The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the global economy will slip into recession," he said.
However, the RBI has injected liquidity of Rs 2.8 lakh crore via various instruments equal to 1.4 per cent of GDP. "Along with today's measures, liquidity measures equal to 3.2 per cent of GDP. The RBI will take continuous measures to ensure liquidity in the system."
The RBI governor has said that all banking institutions can offer a three-month moratorium on all loans for a period of three months. The RBI has also allowed banks to restructure the working capital cycle for companies without worrying that these will have to be classified as a non-performing asset (NPA).
The three-month moratorium will permit banks to avoid a large onset of NPAs during the 21-day lockdown and keep their books healthy.
Das said banks and other financial institutions should do all they can to keep credit flowing to economic agents facing financial stress on account of the isolation that the virus has imposed.
"Market participants should work with regulators like the RBI and the Securities and Exchange Board of India (SEBI) to ensure the orderly functioning of markets in their role of price discovery and financial intermediation," he said.