Niti Aayog puts the blame on Raghuram Rajan for economy slowed down

News Network
September 3, 2018

New Delhi, Sept 3: Niti Aayog vice-chairman Rajiv Kumar has raked up a controversy by unhesitatingly blaming the former Reserve Bank of India (RBI) governor Raghuram Rajan for the slowdown in country's economy in the days that followed demonetisation.

Rajan’s policies on non-performing assets (NPAs) led to the slowdown in the economy and not the government's decision to ban 500 and 1000 rupee notes, Kumar said in an interview to a news agency.

"The slowing of growth rate in the post-demonetisation period was not due to the decision to ban notes, but because there was a declining trend in the economy. Starting from last quarter of 2015-16, the growth rate had come down for six successive quarters," he said.

Elaborating further on the causes for this decline, Rajiv Kumar lay the blame squarely on Rajan, suggesting that his stressed account policies led to a surge in NPAs in the banking sector.

He said the NPAs rose to Rs 10.5 lakh crore by mid-2017 from Rs 4 lakh crore when the present government took office due to Rajan's revised mechanism of identifying NPAs and thereby banks stopped giving credit to the industry, thus slowing down the economy. 

"The growth of credit came down to 1 or 2 per cent or even negative in some quarters," Kumar said, while adding that the government is compensating for this by ramping up expenditure.

Notably, India's gross domestic product (GDP) growth rate came at 6.1 per cent in the fourth quarter of the fiscal year 2016-17 -- the three month-period that followed the note ban. In the following quarter (Q1 of fiscal year 2017-18), the growth rate slumped to a three-year low of 5.7 per cent.

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Agencies
March 13,2020

Amid the rapid spread of the novel coronavirus (COVID-19), which has infected 73 people in India and killed more than 4,500 individuals globally, doctors have advised that in addition to regularly washing hands, one should also disinfect their smartphone every 90 minutes with alcohol-based hand sanitizer.

Ravi Shekhar Jha, Head of Department at Fortis Escorts Hospital in Faridabad said the best method to disinfect your smartphone is to use regular doctor spirit or the alcohol-based hand sanitizer at least every 90 minutes.

"Avoid touching your eyes, mouth, or nose. The best option is to use a phone cover or a Bluetooth device and try to touch your phone as less as possible. We would also recommend cleaning your phone at least twice a day," Jha told IANS.

According to research, published in 2018 by Insurance2Go, a gadget insurance provider, revealed that smartphone screens have three times more germs than a toilet seat.

One in 20 smartphone users was found to clean their phones less than every six months, said the study.

"In the time of fear of coronavirus, smartphones should also be disinfected with alcohol-based sanitizer rub. Pour few drops of sanitizer on a tiny clean cotton pad and rub it safely on your entire phone," said Jyoti Mutta, Senior Consultant, Microbiology, Sri Balaji Action Medical Institute in New Delhi.

"You can repeat this process every evening coming back home after an entire day out at work and once in the morning before going out," Mutta added.

"Maintain basic cleanliness, and try to avoid using other's phones especially if suffering from respiratory illness or flu-like symptoms as there is no other way to disinfect these regular gadgets," she stressed.

Another study from the University of Surrey in the UK, also found that the home button on your smartphone may be harbouring millions of bacteria - some even harmful.

The World Health Organisation (WHO) declared the novel coronavirus as a global pandemic on Wednesday. The death toll of COVID-19 has crossed the 4,500 marks and confirmed cases globally have touched one lakh as per the reports.

According to Suranjeet Chatterjee, Senior Consultant in Internal Medicine Department of Indraprastha Apollo Hospitals in New Delhi, "We should frequently wash our hands, cover our coughs and it is important to adapt to other good hygiene habits that are most important in such a situation."

"Coronavirus and other germs can live on surfaces like glass, metal or plastics and phones are bacteria-ridden. It is necessary that we sanitize our hands frequently and make sure that our hands are clean all the time," Chatterjee told IANS.

"The emphasis should be laid on sanitising our hands rather than sanitizing the phone - once in a while the phone can be sanitized under the guidance of the makers of the phone," Chatterjee stressed.

According to the global health agency, the most effective way to protect yourself against coronavirus is by frequently cleaning of your hands with alcohol-based hand rub or washing them with soap and water.

The WHO's report showed the virus infects people of all ages, among which older people and those with underlying medical conditions are at a higher risk of getting infected.

People should eat only well-cooked food, avoid spitting in public, and avoid close contact, the WHO said, adding that it is important for people to seek medical care at the earliest if they become sick.

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News Network
June 18,2020

New Delhi, Jun 18: Prime Minister Narendra Modi on Thursday said he is "deeply grateful" for the overwhelming support shown by the global community for India''s membership of the UN Security Council.

India will work with all member countries to promote global peace, security, resilience and equity, he said.

India garnered 184 votes out of the 192 ballots cast in the General Assembly to win the election for the non-permanent seat in the powerful Security Council.

India''s two year term will begin on January 1, 2021.

This is the eighth time that India will sit at the UN high-table, which comprises five permanent members and 10 non-permanent members.

"Deeply grateful for the overwhelming support shown by the global community for India''s membership of the UN Security Council," the prime minister wrote on Twitter.

India will work with all member countries to promote global peace, security, resilience and equity, he said.

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News Network
June 30,2020

New Delhi, Jun 30: Prime Minister Narendra Modi on Tuesday announced the extension of the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), a free ration scheme, for 80 crore people across the country till end of November.

In a televised address to the nation, Modi also said the government was working on a "one nation, one ration card" initiative.

On the extension of the PMGKAY, he said it will cost the government Rs 90,000 crore more.

Under the scheme, five kgs of wheat or rice and one kg of pulses per month will be given free of cost to the poor. The scheme was initially rolled out for three months.

The prime minister also said timely lockdown to contain coronavirus and other decisions saved many lives, but added that since "Unlock 1" has begun, people have shown negligence.

He said in comparison to other countries across the globe, India has done well in dealing with the pandemic.

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