In the News today – 31 January 2020

Headlines

  • No evidence of misestimation of India’s GDP growth: K V Subramanian Chief Economic Adviser

  • GDP growth rates for 2017-18 and 2018-19 have been revised DOWNWARDS. The state of the economy under MODI-1 was actually worse than what we believed so far. Will the articulate and voluble Ministers please speak on the state of the economy and explain the downward revision in the last two years and the drastic slide in the current fiscal year?: P Chidambaram

  • The Budget will be announced tomorrow & I want both houses to discuss economic issues and empowerment of people in detail : PM Modi

  • The Govt is set to launch the National Clean Air Program in 102 Indian cities for a better environment : President Kovind

  • The Govt recently signed the Bodo Agreement, ending the crisis that saw 4,000 people lose their lives. The Govt will also spend Rs 1,500 crore to develop the areas in the Bodo regions: President Kovind

  • Delhi Court stays execution of four convicts in Nirbhaya case convicts till further orders: @Bar&Bench

  • The national carrier once again comes to the rescue – this time to evacuate Indians from Wuhan, the site of the outbreak of coronavirus. This mission begins today with a Jumbo 747 operating between Delhi and Wuhan : Ashwani Lohani, Air India CMD

  • Dr Tedros – Director General, WHO, declares a public health emergency of International concern over the global outbreak of Corono Virus 

National

‘No evidence of misestimation of India’s GDP growth’

K V Subramanian, @SubramanianKri – Chief Economic Adviser:
  • Economic Survey 2020 finds no evidence of misestimation of India’s GDP growth.
  • Cross-country analysis has to be carefully undertaken so that correlation is distinguished from causality.
  • The models that incorrectly over-estimate GDP growth by 2.77% for India post-2011 also misestimate GDP growth over the same time period for 51 other countries out of 95 countries in the sample.
  • The magnitude of misestimation of GDP growth in the incorrectly specified model is anywhere between +4% to -4.6%, including UK by +1.6%, Germany by +1.0%, Singapore by -2.3% and South Africa by -1.2%.
  • When the models are estimated correctly by accounting for all unobserved differences among countries, none of these 52 countries (including India) is either over- or under-estimated.

Here are the ten new ideas introduced by Economic Survey, for boosting Wealth Creation

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That’s the Economic Survey, in a nutshell….

Graphics courtesy : KBK via @PIB_India

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Finance Minister tables Economic Survey in Parliament

  • Economic Survey Suggests Rationalisation of Government Intervention to Boost Economic Freedom & Wealth Creation
  • Union Finance Minister N Sitharaman tabled the Economic Survey 2019-20 in Parliament earlier today.
    Details: pib.gov.in/PressReleseDet

I am afraid 6-6.5% will end up to be 4-4.5%: Supriya Shrinate – Congress

  • Growth projection made by economic survey for the financial year 2020-21 is 6-6.5%.
  • In his last economic survey, he had made a robust projection of 7% and we will end the year of growth by under 5%.
  • I am afraid 6-6.5% will end up to be 4-4.5%

President Ramnath Kovind addresses Joint Session Of Parliament

President Ram Nath Kovind :

  • The work delivered in the previous session of the Lok Sabha is a record in seven decades. The Triple Talaq Law provided empowerment to Muslim Women, the Chit Fund Amendment Law and more other such laws were passed in this session.
  • I congratulate every MP of this House for delivering on the Constitutional demand.
  • My Govt believes that transparent debate and exchange of views strengthen democracy further. Violence and other such acts in the name of protests weaken the country. The people of India have given my Govt this mandate for the formation of New India.
  • The Govt recently signed the Bodo Agreement, ending the crisis that saw 4,000 people lose their lives. The Govt will also spend Rs 1,500 crore to develop the areas in the Bodo regions.
  • Similarly, the Bru-Reang agreement not only solved a long-standing problem but will also help the concerned people and will help in their settlement.

PM Modi’s remarks at beginning of the Budget Session of Parliament

PM Narendra Modi :

  • This is the first Parliamentary session in the New Year and decade and a strong foundation for a bright decade must be laid.
  • The Budget will be announced tomorrow & I want both houses to discuss economic issues and empowerment of people in detail

‘Not a word on the macro-economic situation’

P Chidambaram, @PChidambaram_IN – Former Union Finance Minister:

  • The President’s Address is the first policy statement of the government in the new year.
  • I looked for indications on how the government intended to tackle the grave economic slide. Alas, I found none.
  • All that we heard was tiresome repetition of old slogans and old cliches that have lost all meaning in the last few years.
  • Sadly, there was not a word on the macro-economic situation.
  • Not a word on lost jobs, increasing unemployment and rising consumer price inflation.
  • Not a word on the closure of thousands of industries, especially in the SME sector.
  • The government is clueless, and therefore the President’s Address was silent, on dwindling investment and rising number of stalled projects. The future of the manufacturing sector is bleak.
  • The government’s re-statement of its policy on Jammu, Kashmir and Ladakh shows that it has learnt nothing in the last 6 months and is determined to heap injustice and humiliation on the 75 lakh people in the Kashmir valley.
  • Likewise, the government has obstinately reiterated its hard line position on CAA unmindful of the protests by students, youth and women in every state of India.
  • The government’s rejection of the democratic resistance will only intensify the protests.

Impressed by the insightful analysis of Arun Surya Teja on “3 Capitals Vs 1 Capital”. This is a must watch video…: N Chandrababu Naidu – TDP President

 

In consultation with the Home Minister Amit Shah and our National President JP Nadda on the affairs of the state: BS Yediyurappa – Karnataka CM

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Pic Credit: @BSYBJP

‘How much love is being received from all over Delhi…’

Arvind Kejriwal, @ArvindKejriwal – Delhi CM:

  • The entire Badarpur village was walking on the road with us.
  • What a sight it was when only white caps and flags of the Aam Aadmi Party were visible.
  • How much love is being received from all over Delhi…

WHO, declares a public health emergency of International concern over the global outbreak of Corono Virus 

Dr Tedros – Director General, WHO :

  • We must remember that these are people, not numbers. More important than the declaration of a public health emergency are the committee’s recommendations for preventing the spread of the ‘2019nCoV’ virus and ensuring a measured and evidence-based response.
  • In total, there are now 7834 confirmed 2019nCoV cases, including 7736 in China, representing almost 99% of all reported cases worldwide. 170 people have lost their lives to this outbreak, all of them in China.
  • We are working diligently with national and international public health partners to bring this outbreak under control as fast as possible.
  • To the people of China & to all of those around the who have been affected by this outbreak, we want you to know that the stands with you.
  • As you know, I was in China just a few days ago, where I met with President Xi Jinping. I left in absolutely no doubt about China’s commitment to transparency, and to protecting the world’s people.
  • Let me be clear: this declaration is not a vote of no confidence in China. On the contrary, WHO continues to have confidence in China’s capacity to control the outbreak.
  • Our greatest concern is the potential for the virus to spread to countries with weaker health systems, and which are ill-prepared to deal with it.
  • The main reason for this declaration is not because of what is happening in China, but because of what is happening in other countries.
  • For all of these reasons, I am declaring a public health emergency of international concern over the global outbreak of 2019nCoV.

‘By 2025 mobility would have taken a new shape’

@amitabhk87 :
  • The Electric Vehicle Revolution in India is in full momentum.
  • In addition to Bajaj & TVS launching their new EV scooters in affordable price ranges Tatas target is to be a clear leader in the EV segment. It has launched Nexon EV.
  • By 2025 mobility would have taken a new shape.

 

Bold, Beautiful & Bright vehicle!

  • India driving the shared, connected, EV movement.
  • At the TERI World Sustainable Development Summit was delighted to see the MG ZS – Electric vehicle.
  • MG EV is “Make in India” produced at its plant at Halol in Gujarat.
  • Bold, Beautiful & Bright vehicle! Range-340 KM .
MGZSPic Courtesy : @amitabhk87

 

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