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ECONOMY-UNCERTAIN TIMES REQUIRE FISCAL FORBEARANCE
‘‘What is necessary for livelihood and what is necessary for addressing the issue of pandemic does not deserve the kind of constraints which the FRBM places. Certainly, this is the time for forbearance, not rigid adherence to fiscal rectitude”
– N K Singh, Chairman, 15th Finance Commission and FRBM Roadmap Committee
A drastic contraction of 23.9% in quarterly GDP has taken our economy to FY 2014 quarterly levels. With COVID — 19 cases continuing to soar, and no new fiscal stimulus announced by the Government, our economy’s short-term decline is set to continue in the foreseeable future.
The pandemic’s ‘peak’ that our government was expecting to reach by now, remains elusive. Making matters worse for the economy is that 5 large states that contribute ~40% of our GDP — Maharashtra, Tamil Nadu, Karnataka, Andhra Pradesh, and Gujarat — are those where >50% confirmed cases of COVID — 19 remain concentrated as on date. The pandemic has also reached India’s rural areas, of the districts with over 1,000 cases, almost half were in rural areas, up from 20% in June, raising concerns.
The problem is a slump in aggregate demand with its repercussions on both the manufacturing and the services sectors and consequent job losses. Services industry contributed >55% to India’s GVA, in FY 2020 and 2019, and employed 31.5%of our workforce. With services and manufacturing sector experiencing a grinding halt for last ~ 4 months, most of the job losses of 85 million have been in these sectors. Most importantly, manufacturing is expected to remain in the negative domain till the 4th quarter of FY 2021. Construction activities, including real estate bore the severest brunt of the prolonged lockdown. Even today, it remains far from its pre-Covid-19 level due to labour shortages, slump in demand for…
Read More: https://www.acquisory.com/ArticleDetails/80/Economy-Uncertain-Times-Require-Fiscal-Forbearance
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'आम्हालाही द्या दीडपर्यंत परवानगी', हॉटेल संचालक आक्रमक; प्रशासनाकडे मागणी
‘आम्हालाही द्या दीडपर्यंत परवानगी’, हॉटेल संचालक आक्रमक; प्रशासनाकडे मागणी
नागपूर : करोना संक्रमणाच्या नावाखाली हॉटेल रात्री दहा वाजता बंद करण्याचा निर्बंध लावण्यात आला आहे. मात्र, त्याचवेळी मुंबई, पुणे येथे रात्री दीड वाजतापर्यंत हॉटेल्स खुले ठेवण्यास परवानगी देण्यात आली आहे. या पार्श्वभूमीवर आम्हालाही रात्री दीडपर्यंत अनुमती द्या, अशी मागणी शहरातील हॉटेल-रेस्टॉरंट संचालकांनी प्रशासनाकडे केली आहे. करोनाची तिसरी लाट आल्यानंतर स्थानिक प्रशासनाने विविध निर्बंध घोषित केले.…
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Maharashtra Night Curfew : राज्यात कठोर निर्बंध ; काय राहणार बंद काय सुरू
#Maharashtra Night Curfew : राज्यात कठोर निर्बंध ; काय राहणार बंद काय सुरू #LockDown #NightCurfew #Restriction #Omicron #Covid19
Maharashtra Night Curfew : मुंबई, 9 जानेवारी 2022 : संपूर्ण राज्यात कोरोना (Coronavirus) आणि ओमायक्रॉन या कोरोनाच्या नव्या व्हेरिएंटचा (Omicron variant of Coronavirus) प्रादुर्भाव वाढत आहे. कोरोनाचा हा वाढता प्रादुर्भाव रोखण्यासाठी आता राज्य सरकारने (Maharashtra Government) कठोर निर्बंध लागू (Restrictions imposed in Maharashtra) केले आहेत. रात्री 11 ते सकाळी 5 वाजेपर्यंत संचारबंदी लागू करण्यात…
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Maharashtra lockdown be extended? CM Uddhav chairs key meet as battle continues to flatten Covid curve
Maharashtra lockdown be extended? CM Uddhav chairs key meet as battle continues to flatten Covid curve
Image Source : PTI (FILE) Maharashtra lockdown be extended? CM Uddhav chairs key meet as battle continues to flatten Covid curve The Maharashtra government is likely to take a call on extension of lockdown in the state and free vaccination to people on Wednesday. Chief Minister Uddhav Thackeray is currently presiding over a key meet of the state Cabinet via video-conferencing in Mumbai. Ahead of…
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Oxygen leak at a hospital in Nashik killed 22, Heart-wrenching tragedy, says PM
Oxygen leak at a hospital in Nashik killed 22, Heart-wrenching tragedy, says PM
Nashik oxygen leak latest news: Prime Minister Narendra Modi has expressed anguish over the oxygen leak tragedy at a hospital in Maharashtra’s Nashik. At least 22 patients died in the incident which took place at Zakir Hussain Municipal Hospital on Wednesday. “The tragedy at a hospital in Nashik because of oxygen tank leakage is heart-wrenching. Anguished by the loss of lives due to it.…
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Maharashtra lockdown to happen only when 40% hospital beds occupied
Maharashtra lockdown to happen only when 40% hospital beds occupied
Maharashtra lockdown to happen only when 40% hospital beds occupied Maharashtra health department on January 6th ruled out a complete lockdown amid alarming rise in daily Covid19 cases. The department further said that the lockdown or lockdown-like restrictions will be considered when more than 40% of the Covid-19 beds in the hospitals are occupied. Maharashtra government on Wednesday…
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2022 में इन सेलेब्स के घर हुई कोरोना की एंट्री, यहां देखें लिस्ट - Sareideas
2022 में इन सेलेब्स के घर हुई कोरोना की एंट्री, यहां देखें लिस्ट – Sareideas
डिजिटल डेस्क, मुंबई। महानायक अमिताभ बच्चन के घर पर कोरोना वायरस ने फिर से एंट्री कर ली है। रिपोर्ट के अनुसार अमिताभ बच्चन के घर पर काम करने वाले कुल 31 स्टॉफ का रविवार को कोरोना टेस्ट कराया गया था, जिसमें से एक कर्मचारी पॉजिटिव पाया गया है। लेकिन आप को बता दें की उनके घर का कोई भी सदस्य इस वायरस से संक्रमित नहीं हुआ है। अमिताभ बच्चन ने सोमवार रात को इसकी जानकारी अपने ब्लॉग पर एक लाइन लिख कर दी।…
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केरल में सामने आए कोविड-19 के 19,688 नये मामले, 135 मरीजों की मौत
केरल में सामने आए कोविड-19 के 19,688 नये मामले, 135 मरीजों की मौत
Image Source : PTI केरल में सोमवार को कोविड-19 से 135 और मरीजों की मौत के बाद मृतकों की तादाद 21,631 पर पहुंच गयी। तिरुवनंतपुरम: केरल में सोमवार को कोविड-19 से 135 और मरीजों की मौत के बाद मृतकों की तादाद 21,631 पर पहुंच गयी जबकि 19,688 नये मामले सामने आने के साथ ही कोरोना वायरस से संक्रमितों की कुल संख्या बढ़कर 42,27,526 हो गयी। राज्य सरकार ने यह जानकारी दी। एक बुलेटिन के मुताबिक, राज्य में बीते…
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महाराष्ट्र कोरोना न्यूज: तीसरी लहर से निपटने के लिए 1200 डॉक्टरों की भर्ती करेगी महाराष्ट्र सरकार, खरीदी जाएगी 1000 एंबुलेंस
महाराष्ट्र कोरोना न्यूज: तीसरी लहर से निपटने के लिए 1200 डॉक्टरों की भर्ती करेगी महाराष्ट्र सरकार, खरीदी जाएगी 1000 एंबुलेंस
तीसरी लहर से निपटने की तैयारी में महाराष्ट्र सरकार 1200 डॉक्टरों की नियुक्ति करेगी राज्य सरकार ग्रामीण क्षेत्रों के लिए भी एक हजार एंबुलेंस खरीदी जाएंगी। त्योहारों में कोई विशेष छूट देने के पक्ष में नहीं सरकार मुंबई महाराष्ट्र के स्वास्थ्य मंत्री राजेश टोपे ने प्रेस कॉन्फ्रेंस के जरिए राज्य सरकार की कोरोना की तीसरी लहर की तैयारियों की जानकारी दी. उन्होंने कहा कि हम तीसरी लहर से निपटने के लिए…
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Corona virus cases among children increasing in Odisha, infection rate increased to more than 20 percent
Corona virus cases among children increasing in Odisha, infection rate increased to more than 20 percent
Image Source: PTI In Odisha, the infection rate among children has increased to more than 20 percent in daily cases of corona. Bhubaneswar: In Odisha, the infection rate among children and adolescents in daily cases of corona virus infection has increased to an all-time high of more than 20 percent. Out of 609 new Kovid-19 patients who came in a day in the state, 122 infected people are below 18…
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Maharashtra unlock: Local trains and malls now open for fully vaxxed | Mumbai News - Times of India
Maharashtra unlock: Local trains and malls now open for fully vaxxed | Mumbai News – Times of India
MUMBAI: Wearied by months of lockdown hardship, Mumbaikars are looking forward to long-awaited relaxations in local train travel and business from Independence Day on Sunday. Malls can now reopen, while restaurants, gyms, salons and spas are permitted to function at 50% capacity till 10pm, helping ease livelihoods. While easing restrictions, the state government has issued a rider than workforce…
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COVID-19: Section 144 imposed across Maharashtra, decision on complete lockdown today
COVID-19: Section 144 imposed across Maharashtra, decision on complete lockdown today
Image Source : PTI Mumbai streets near Chatrapati Shivaji Maharaj Terminus wear a deserted look during weekend lockdown. (File) Amid soaring Covid-19 cases, the Maharashtra government has imposed Section 144 imposed across the state. Besides, the Maha Vikas Aghadi (MVA) government is mulling imposing a strict lockdown in the entire state to deal with the situation. According to NCP leader and…
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Maharashtra Lockdown News: डेल्टा प्लस वेरिएंट के डर के बीच ठाकरे सरकार ने अनलॉक नियमों को कड़ा किया
#Maharashtra #Lockdown News: डेल्टा प्लस वेरिएंट के डर के बीच ठाकरे सरकार ने अनलॉक नियमों को कड़ा किया #deltaplus #mumbai
डेल्टा प्लस वेरिएंट के डर के बीच ठाकरे सरकार ने अनलॉक नियमों को कड़ा किया Maharashtra Lockdown News: महाराष्ट्र में उभर रहे COVID-19 के डेल्टा प्लस संस्करण के मामलों को देखते हुए, मुख्यमंत्री उद्धव ठाकरे के नेतृत्व वाली राज्य सरकार ने शुक्रवार को प्रतिबंधों के स्तर से संबंधित नए आदेश (Maharashtra Lockdown News) जारी किए। राज्य के स्वास्थ्य मंत्री राजेश टोपे ने यह भी खुलासा किया कि महाराष्ट्र में…
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Covid-19 Cases and Lockdown Guidelines in Maharashtra, Delhi, Uttar Pradesh (UP), Karnataka Today Latest News
Covid-19 Cases and Lockdown Guidelines in Maharashtra, Delhi, Uttar Pradesh (UP), Karnataka Today Latest News
#Covid19 #Cases #Lockdown #Guidelines #Maharashtra #Delhi #Uttar #Pradesh #Karnataka #Today #Latest #News A Covid-19 patient outside LNJP hospital in New Delhi on Thursday. (Express Photo: Tashi Tobgyal) Delhi, UP, Gujarat, Haryana oxygen demand outstrips supply With four of the states worst hit by Covid battling a critical shortfall between demand and supply of oxygen in their hospitals, Prime…
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Maharashtra: Tighter curbs on movement, quarantine for inter-district travel
Maharashtra: Tighter curbs on movement, quarantine for inter-district travel
Maharashtra: Tighter curbs on movement, quarantine for inter-district travel The state government reacted on Wednesday to the continuing surge in Covid-19 cases with additional restrictions on travel within the state and the city, and a further reduction in attendance in government offices and such private offices that fall under the essential or exempted category. These curbs will kick in at…
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Mumbai to remain under level 3 curbs: Here's what's open, what's shut
Mumbai to remain under level 3 curbs: Here’s what’s open, what’s shut
Mumbai will continue to be in category 3 of the Maharashtra government’s five-level unlock plan that seeks to ease coronavirus-induced curbs, the Brihanmumbai Municipal Corporation (BMC) said on Friday. This comes hours after the Maharashtra government announced to tighten the curbs following the death of an 80-year-old Ratnagiri resident from Delta plus variant. Delta plus cases have been found…
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