Unemployment rate at 6.1% in 2017-18, govt cites new survey in Rajya Sabha

Sydney, Jan 8:  Authorities in Australia will begin five-day campaign to kill thousands of camels in the country as they drink too much water amid the wildfires.  The government will send helicopters to kill up to 10,000 camels in a five-day campaign starting Wednesday, The Hill reported citing The Australian.

Marita Baker, an Anangu Pitjantjatjara Yankunytjatjara (APY) (large, sparsely-populated local government area for Aboriginal Australians) executive board member, said that the camels were causing problems in her community of Kanypi.

"We have been stuck in stinking hot and uncomfortable conditions, feeling unwell, because the camels are coming in and knocking down fences, getting in around the houses and trying to get to water through air conditioners,'' she said.

The planned killing of the camels comes at a time the country is ravaged by wildfires since November. The disaster has killed more than a dozen people and caused the displacement or deaths of 480 million animals, according to University of Sydney researchers.

The World Bank says that a lack of credit and drop in private consumption have led to a gloomy growth outlook for India with a steep cut in growth rate for the current fiscal year and only a modest gain projected for the next year.

India's growth rate is forecast to be only 5 per cent for the current fiscal year, weighed down by a growth of only 4.5 per cent in the July-September quarter, according to the 2020 Global Economic Prospects report released on Wednesday.

"In India, [economic] activity was constrained by insufficient credit availability, as well as by subdued private consumption," the Bank said.

The growth rate is forecast by the Bank to pick up to 5.8 per cent in the next fiscal year and to 6.1 per cent in 2021-22.

India's growth rate was 6.8 per cent in 2018-19.

The 5 per cent growth rate projection for the current financial year is a sharp cut of 2.5 per cent from the 7.5 per cent forecast made by the Bank in January last year, toppling it from the rank of the world's fastest growing economy.

India's performance follows a global trend of lowered growth weighed down by developed economies.

The report estimated world economic growth rate to be only 2.4 per cent last year and forecast it to edge up 0.1 per cent to 2.5 per cent in the current year.

Even with the lower growth rate of 5 per cent in the current fiscal year and 5.8 per cent forecast for the next, India holds the second rank among large economies, behind only China with an estimated growth rate of 6.1 per cent for 2019 and 5.9 per cent this year.

The report blamed "weak confidence, liquidity issues in the financial sector" and "weakness in credit from non-bank financial companies" for India's slowdown.

The Bank predicated India's recovery to 5.8 per cent in the coming financial year for India but "on the monetary policy stance remaining accommodative" and the assumption that "the stimulative fiscal and structural measures already taken will begin to pay off."

It also warned that sharper-than-expected slowdown in major external markets such as United States and Europe, would affect South Asia through trade, financial, and confidence channels, especially for countries with strong trade links to these economies."

The Bank said that the growth of advanced economies was 1.6 per cent last year and "is anticipated to slip to 1.4 per cent in 2020 in part due to continued softness in manufacturing."

In contrast the growth of emerging market and developing countries is expected to accelerate from 3.5 per cent last year to 4.1 per cent this year, the report said.

In South Asia, Bangladesh is estimated to have the highest growth rate of 7.2 per cent in the current fiscal year, although down from 8.1 per cent last fiscal year.

But its higher regional growth rates are coming off a lower base with a per capital gross domestic product of $1,698 compared to $2,010 for India.

Bangladesh is expected to grow by 7.3 per cent in the next financial year.

Pakistan's growth rate is estimated at only 2.4 per cent in the current fiscal year and is projected to rise to 3 per cent in the next, according to the Bank.

The Bank blamed monetary tightening in Pakistan for a sharp deceleration in fixed investment and a considerable softening in private consumption for the fall in growth rate from 3.3 per cent in the 2018-19 fiscal year.

Sri Lanka's growth rate was estimated to be 2.7 per cent last year and forecast to grow to 3.3 per cent this year.

Nepal grew by an estimated 6.4 per cent in the current fiscal year and will rise to 6.5 per cent in the next.

Mar 19: Amidst spiralling cases of COVID-19 in the country, Union Minister of State for Health and Family Welfare Ashwini Kumar Choubey on Thursday advocated "absorbing sunlight" as a possible precaution against coronavirus that has claimed over 8,000 lives globally.

Speaking to reporters outside parliament, Choubey said 10-15 minutes in the sun would build immunity as sunlight provides Vitamin D.

"From 11 am to 2 pm the sun is shining brightly. We should spend at least 10-15 minutes to absorb sunlight so that we get vitamin D which improves the immunity of our body and also kills such viruses. All should be aware of (this fact)," he said when asked about the spread of coronavirus.

COVID-19 cases in India climbed to 169 on Thursday after 18 fresh cases were reported from various parts of the country, according to the Union health ministry.

The cases include 25 foreign nationals -- 17 from Italy, 3 from the Philippines, two from the UK, one each belonging to Canada, Indonesia and Singapore.

The figure also includes three deaths reported from Delhi, Karnataka and Maharashtra so far.

According to the World Health Organisation, the novel coronavirus has killed over 8,000 people globally and infected more than two lakh.