Quarantine notice outside Manmohan Singh’s house raises speculation

May 18: Goldman Sachs expects India will experience its deepest recession ever after a poor run of data underscored the damaging economic impact of lockdowns in the world’s second-most populous nation.

Gross domestic product will contract by an annualized 45% in the second quarter from the prior three months, compared with Goldman’s previous forecast of a 20% slump. A stronger rebound of 20% is now seen for the third quarter, while projections for the fourth quarter and first of next year are unchanged at 14% and 6.5%.

Those estimates imply that real GDP will fall by 5% in the 2021 fiscal year, which would be deeper than any other recession India has ever experienced, Goldman economists Prachi Mishra and Andrew Tilton wrote in a note dated May 17.

India’s government has extended its nationwide lockdown until May 31, while further easing restrictions in certain sectors to boost economic activity, as coronavirus cases escalate across the country. The announcement followed Finance Minister Nirmala Sitharaman’s fifth briefing in as many days, in which she outlined details of the country’s $265 billion virus rescue package, which is equivalent to 10% of India’s GDP.

 “There have been a series of structural reform announcements across several sectors over the past few days,” the Goldman economists wrote. “These reforms are more medium-term in nature, and we, therefore, do not expect these to have an immediate impact on reviving growth. We will continue to monitor their implementation to gauge their effect on the medium-term outlook.”

Infections are surging across the South Asian nation of 1.3 billion people, with more than 91,300 infections, including 2,897 deaths as of Sunday, according to data from Johns Hopkins University.

Alappuzha, Apr 5: Coming to the rescue of a toddler in need of crucial treatment for cancer, the Kerala health department scrambled its resources for transporting a toddler from here to Hyderabad on Sunday.

In a co-ordinated action, the department arranged for an ambulance and necessary travel permits for the nearly 16-hour 1,100 km inter-state journey that started at 7.15 am from Cherthala in this district with the entire cost to be borne by the state government.

Health Minister K K Shailaja on Saturday said all steps have been taken to facilitate the travel of the toddler and her family members to Hyderabad after local media reports highlighted the plight of the child.

The state Chief Secretary had discussed the matter with his counterparts of other states en route to ensure a smooth journey,the Health Ministry said.

"The travel permit and directions to other states through which the ambulance has to pass were issued from the police headquarters. All district police chiefs were given instructions from the headquarters to arrange for passage of the ambulance," it said in a release.

The journey started at 7.15 am and they are expected to reach Hyderabad at 11 pm.

"The state government will bear the expenses incurred for the journey. The ambulance will remain in Hyderabad and will return with the family," it said.

The first phase of treatment was done at the L V Prasad Hospital in Hyderabad and the family was supposed to travel again within 21 days for the next phase of treatment.

As the family could not undertake the journey in view of the nation-wide lockdown to check coronavirus scare, the state government swung into action to help the child.

The number of confirmed novel coronavirus cases in the country climbed to 3,374 on Sunday while the death toll rose to 77, according to Union Health Ministry data.