Rapes can't be prevented, don't create 'hue and cry', says Union Minister

New Delhi, May 29: More than 38,000 doctors, including those retired from the Armed Forces Medical Services, have volunteered to help the government in its fight against COVID-19 pandemic, a senior official said on Friday.

On March 25, the government had made an appeal to doctors, including the retired ones, to come forward and join the efforts to fight the pandemic.

"38,162 volunteer doctors, including retired government, Armed Forces Medical Services, public sector undertaking or private doctors have signed up with the government to battle COVID-19 pandemic," the official said.

The official further said Niti Aayog has sent a list of names of these doctors to Ministry of Health and Family Welfare and National Disaster Management Authority (NDMA).

In a statement posted on Niti Aayog's website on March 25, the government had said those who wish to contribute to this noble mission may register themselves through a link provided on the Aayog's website.

"The Government of India requests for volunteer doctors who are fit and willing to be available for providing their services in the public health facilities and the training hospitals in the near future.

"We appeal to such doctors to come forward at this hour of need. You could also be a retired government, Armed Forces Medical Services, public sector undertaking or a private doctor," the statement had said.

It had noted that in case the outbreak leads to a high number of infected individuals, India's public health facilities will face tremendous load to take care of a large number of patients.

Many countries, including the US, Italy, the UK and Vietnam, had also urged retired health workers to come back to work amid the pandemic.

The number of COVID-19 cases in India has climbed to 1,65,799, making it the world's ninth worst-hit country by the coronavirus pandemic.

The Health Ministry on Friday said the death toll due to COVID-19 rose to 4,706 in the country.

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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.