The International Monetary Fund (IMF) on Tuesday cut its economic growth forecast for India to 9.5 per cent for the fiscal year to 31 March 2022 as the onset of a severe second Covid-19 wave cut into recovery momentum. This forecast is lower than the 12.5 per cent growth in GDP that IMF had projected in April before the second wave took a grip.
IMF’s chief economist Gita Gopinath said the revision in growth forecast reflects an important “extent differences” in coronavirus disease (Covid-19) developments as the highly contagious Delta variant is becoming dominant across the world.
“Faster-than-expected vaccination rates and return to normalcy have led to upgrades, while lack of access to vaccines and renewed waves of Covid-19 cases in some countries, notably India, have led to downgrades,” Gopinath, economic counsellor and director of the research department at the IMF, said in a blog post.
For 2022-23, IMF expects economic growth of 8.5 per cent, larger than the 6.9 per cent it had projected in April.
“Growth prospects in India have been downgraded following the severe second Covid wave during March-May and expected slow recovery in confidence from that setback,” IMF said in its latest World Economic Outlook (WEO).
India’s economy is gradually recovering from a deep contraction in the fiscal year ended 31 March 2021 (7.3 per cent) and a subsequent severe second wave of Covid-19.
IMF joins a host of global and domestic agencies which have cut India’s growth estimates for the current fiscal. Last month, S&P Global Ratings projected a 9.5 per cent GDP growth in the current fiscal and 7.8 per cent in 2022-23.
While World Bank sees GDP growth at 8.3 per cent from April 2021 to March 2022, the Asian Development Bank (ADB) last week downgraded India’s economic growth forecast to 10 per cent from 11 per cent estimated in April. As for Moody’s, it has projected India clocking 9.3 per cent growth in the current fiscal ending March 2022. For 2021 calendar year, Moody’s has cut the growth estimate sharply to 9.6 per cent.
The GDP, which shrank from $2.87 trillion in 2019-20 to $2.66 trillion in the following year, is estimated to reach around $4 trillion in 2024-25.
Overall, the global economy is projected to grow 6 per cent in 2021 and 4.9 per cent in 2022. The 2021 global growth forecast is unchanged from the April 2021 WEO, but with offsetting revisions, the report said.
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‘I appeal to all countrymen to hoist the Tiranga at your home, say Amit Shah
Union Home Minister Amit Shah on Saturday unfurled the tricolor at his residence in Delhi. Shah also urged countrymen to hoist the flag at their homes from August 13 to 15. Under the aegis of Azadi Ka Amrit Mahotsav, the countrymen are being encouraged to hoist the tricolor at their homes.
Taking to Twitter Shah said, “Tiranga is our pride. It unites and inspires everyone Indian. On PM Narendra Modi Ji’s clarion call of Har Ghar Tiranga, today hoisted a Tiranga at my residence in New Delhi and paid tributes to our valorous heroes who sacrificed everything for the Motherland.”
“I appeal to all countrymen to hoist the Tiranga at your home from 13th-15th August and to be a part of this campaign of awakening the spirit of patriotism in every heart. Also, upload your picture with the Tiranga on http://harghartiranga.com and inspire others for the same,” Shah said.
Earlier, Prime Minister Narendra Modi launched the ‘Har Ghar Tiranga’ campaign. He called upon the people of the country to join it. PM Modi said that the tricolor not only has three colors, but it is also a reflection of our commitment to the present, our past glory, and our dreams for the future.
However, Azadi Ka Amrit Mahotsav is an initiative of the government to celebrate 75 years of Independence. The national flag will be hoisted in every house of the country till 15th August.
Congress interim President Sonia Gandhi tests positive for COVID-19
Congress interim President Sonia Gandhi tested positive for COVID-19 on Saturday. Congress general secretary in charge of communications and senior party leader, Jairam Ramesh informed.
Taking to Twitter Jairam Ramesh said, “Congress President Smt. Sonia Gandhi has tested positive for Covid-19 today. She will remain in isolation as per Govt. protocol.”
In the last three months, Gandhi has tested positive for Covid for the second time. As per government protocol, the party chief will remain in isolation.
Rajasthan chief minister Ashok Gehlot expressed concern and said, “Concerned about the health of Congress President Smt. Sonia Gandhi Ji as she tested positive for #COVID19. Wish her a speedy recovery. May she get well soon. Prayers for her good health and well-being.”
Earlier on Wednesday (August 10), Congress leader Priyanka Gandhi tested positive for COVID. Taking to Twitter Vadra tweeted, “Tested positive for COVID (again!) today. Will be isolating at home and following all protocols.”
Moreover, the Leader of Opposition in Rajya Sabha and senior Congress leader Mallikarjun Kharge on Tuesday tested positive for COVID.
“I have tested positive for #COVID19. I request those who came in contact with me recently to take care,” Kharge tweeted.
Author Salman Rushdie on ventilator; likely to lose an eye
Renowned author Salman Rushdie is on a ventilator after the attack and may have to lose an eye. He was attacked by a man with a knife on Friday at an event in New York, USA.
According to Rushdie’s agent Andrew Wyllie, Rushdie’s liver was damaged in the attack. Wyllie reported that Rushdie had broken nerves in his arm and damaged his liver. With this, there is a possibility of losing one of his eyes.
“The news is not good. Salman will likely lose one eye; the nerves in his arm were severed, and his liver was stabbed and damaged,” Wylie said.
Salman Rushdie was born in 1974 in Mumbai and is 75 years old. He has a long history of controversies. After writing The Satanic Verses, he received death threats from Islamic extremists for several years. The book was released in 1988 and after 30 years of a fatwa, Rushdie was attacked.
Earlier, New York State Police identified the suspect as Hadi Matar. Matar hail from Fairview, New Jersey, and is 24 years old.
“The suspect has been identified as Hadi Matar, 24, from Fairview, New Jersey. Earlier today, approx at 10:47 am, the speaker Rushdie, 75, and Henry Reese, 73 has just arrived at the stage of the institution and shortly thereafter the suspect jumped out of the stage and attacked at least once in the neck and at least once in the abdomen,” Major Eugene J. Staniszewski said.
Meanwhile, New York Governor Kathy Hochul said, “He is alive and has been transported, airlifted, to safety… The event moderator was attacked as well; he’s getting the care he needs at a local hospital.”
Taking to Twitter Taslima Nasreen said, “I just learned that Salman Rushdie was attacked in New York. I am really shocked. I never thought it would happen. He has been living in the West, and he has been protected since 1989. If he is attacked, anyone who is critical of Islam can be attacked. I am worried.”
However, Rushdie was stabbed in the neck when he was on stage at the Chautauqua Institution. The Chautauqua Institution is a non-profit community on Lake Chautauqua in southwestern New York province.
Comedian Raju Srivastava’s condition is stable, says family; urges fans to ignore rumors
Comedian Raju Srivastava who went through successful angioplasty following a heart attack is stable.
Raju Srivastava released a statement, “Dear all, Raju Srivastava Ji’s condition is stable. We are praying for his speedy recovery. The doctors are treating him and are doing their best. Thanks to all the well-wishers for their continued love and support. Please ignore any rumor/fake news being circulated. Please pray for him.”
Comedian Raju Srivastava on Wednesday suffered from a heart attack after which he underwent angioplasty and now is on ventilator support. According to sources Raju is “responding to the treatment”.
Comedian Srivastava’s health deteriorated on Tuesday night after which he suffered from a heart attack.
Earlier on Wednesday, Comedian Sunil Pal said that Srivastava’s health is good now. He is recovering rapidly and will be home soon.
Meanwhile, just hours before Srivastava suffered a heart attack he shared a stand-up comedy piece on his Instagram. He mimicked a few veteran actors on information being spread on Covid-19 via caller tune on the phones.
However, Srivastava got recognition by participating in The Great Indian Laughter Challenge and Big Boss. He has done roles in films like Bombay to Goa, and Aamdani Atthanni Kharcha Rupaiya. Moreover, Srivastava is also the chairman of the Uttar Pradesh Film Division Board.
Jaish terrorist arrested from Saharanpur; Nupur Sharma was the target
A terrorist associated with Jaish-e-Mohammed (JeM) and Tahreek-e-Taliban has been arrested by the anti-terrorist squad (ATS) from Saharanpur. During the interrogation, the terrorist confessed that he was given the task of killing Nupur Sharma.
Prashant Kumar, ADG (law and order) said, “Nadeem underwent a crash course in explosives and was in the process of collecting material to make IEDs to target government buildings and police premises.”
According to the information, ATS has arrested a terrorist associated with Jaish-e-Mohammed (JeM) and Tahreek-e-Taliban from Saharanpur. The ATS has identified him as Muhammad Nadeem. During the interrogation of the ATS, the terrorist told that the terrorists of Jaish of Pakistan had sent him to kill Nupur Sharma.
However, the issue of objectionable remarks on Prophet Muhammad is still not being settled. In this case, there is an atmosphere of threats and target killing. At the same time, Nupur Sharma’s life is constantly in danger.
‘We Women Want’: Fitness on agenda
Clinical nutritionist Dr Ishi Khosla, Fitness Expert Vesna Jacob and Dr Rita Punhani IVF Specialist of Indira IVF appeared on ‘We Women Want’ to discuss fitness tips and bust some diet myths.
The panel stressed that it is important to monitor what you eat but also the timing of the meal. Diet such as intermittent fasting and Ketos were discussed with their pros and cons. An important point was also made regarding fitness that its best to exercise when you can even if its for ten minutes and not wait for the half hour – forty minute slot for a warm up. For as Vesna Jacob said our body is primed to be active, the primitive man did not see a tiger and then say wait let me first warm up before I defend myself. Dr Punhani pointed out how a good diet is essential for a woman’s health in various stages of her life from maturity to motherhood to menopause while Dr Khosla talked of the importance of gut health. The show was moderated by Priya Sahgal, Senior Executive Editor ITV Network.
Catch fresh episodes of ‘We Women Want’ every Saturday at 7:30 PM on NewsX. The program will also streamed live on major OTT platforms- Dailyhunt, Zee5, MX Player, ShemarooMe, Watcho, Mzaalo, Jio TV, Tata Play and PayTm livestreams.
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