Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides -- fiscal, monetary and sectoral -- to nurture recovery of the economy hit by the second wave of the coronavirus pandemic. The dent on economic activity due to the second wave of the pandemic during April-May necessitated continuation of monetary measures to support the process of economic recovery to make it durable, Das had said while participating in the meeting of the Monetary Policy Committee (MPC) earlier in the month. "Overall, the second wave of COVID-19 has altered the near-term outlook, and policy support from all sides - fiscal, monetary and sectoral - is required to nurture recovery and expedite return to normalcy," Das said, as per the minutes of the meeting released on Friday.
Another victim of the Delhi high court blast succumbed to injuries at a hospital in New Delhi on Thursday morning, taking the toll in the terror attack to 14. Mridul Bakshi, who was seriously injured in the blast on September 7, died at approximately 4 am, doctors at the Ram Manohar Lohia Hospital said. Doctors said Bakshi, 34, had suffered multiple injuries on his head, chest, hands and legs. Mridul, a resident of Okhla in south Delhi, is survived by his wife and son.
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Amid prolonged uncertainty, continued policy support will be crucial for sustained economic recovery from the coronavirus pandemic, Reserve Bank Governor Shaktikanta Das said at the recent meeting of the Monetary Policy Committee. "In this period of prolonged uncertainty, it would be wise to remain agile and respond in a gradual, calibrated and well telegraphed manner to the emerging challenges," opined Das, according to the minutes of the MPC meeting released by the Reserve Bank on Thursday. Observing that economic recovery from the pandemic remains incomplete and uneven, he said, "continued support from various policies remains crucial for a sustained recovery." The governor said the renewed surge in international crude oil prices, however, requires close monitoring.
The Delhi high court on Monday granted bail to Jawaharlal Nehru University student Natasha Narwal, arrested last year in May in connection with the communal riots in north-east Delhi to perform the last rites of her father who succumbed to COVID-19.
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The high court said "foisting extremely grave and serious penal provisions", engrafted under the UAPA, "frivolously" upon people would undermine the intent and purpose of the Parliament in enacting a law that is meant to address threats to the very existence of our nation.
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Uncertainty is emerging as the only certainty, said RBI Governor Shaktikanta Das as he emphasised on continued policy support at the December MPC meet during which members expressed concerns over spread of the Omicron variant of coronavirus, as per the minutes of the rate-setting panel released on Wednesday. After three days of deliberations, the six members of the Monetary Policy Committee (MPC) on December 8 unanimously voted for status quo on policy rates for the ninth consecutive time. At the meeting, the RBI Governor said risks stalking the global economy have amplified with rapid spread of the virus mutations, including the Omicron variant, leading to countries scrambling for restrictions.
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With inflation under control, the Monetary Policy Committee's (MPC's) job is to support growth because the economy had recovered well from the lows in the initial months of the pandemic, according to the panel's members, who met in the first week of this month. The minutes of the meeting show the Reserve Bank of India (RBI) governor in his statement said: "Given the sharp moderation in inflation along with a stable near-term outlook, monetary policy needs to continue with the accommodative stance to ensure that the recovery gains greater traction and becomes broad-based." Ashima Goyal, external member of the MPC, said: "The current macroeconomic configuration and its expected future evolution imply there is space for the MPC to continue to support the revival of the economy with inflation remaining in the target band."
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All members of the Monetary Policy Committee (MPC) -- Shashanka Bhide, Ashima Goyal, Jayanth R Varma, Mridul K Saggar, Michael Debabrata Patra and Shaktikanta Das -- had unanimously voted to keep the policy repo rate unchanged at 4 per cent after the three-day meet of the panel earlier this month. Further, except Varma, other members voted to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward. Varma expressed reservations on this part of the MPC resolution, according to the minutes.
A bench of Justices Siddharth Mridul and I S Mehta directed the authorities to preserve the DNA samples of all the bodies and not to dispose of any unidentified body till Wednesday, the next date of hearing.
Courts must not play coroner but doctors to save legal or Constitutional rights from demise before they are extinguished, the Delhi High Court said on Wednesday while granting bail to a UAPA accused who was in custody for more than 12 years as an undertrial in a bomb blast case.
The family, which had refused to conduct his last rites, was assured that they would be provided Rs 10 lakh compensation, a contractual job for a dependent and a house under Indira Awas Yojna besides removal of a local revenue officer and a station house officer, police said.
India's plant-based meat market is estimated at $30-40 million, largely driven by consumer packaged food. The market size in India is likely to touch $500 million in three years.
The Delhi high court was informed on Thursday that a trial court has ordered 'immediate release' from jail of Jamia student Asif Iqbal Tanha and Jawaharlal Nehru University students Devangana Kalita and Natasha Narwal who were granted bail on June 15 in the north-east Delhi riots case.
The Reserve Bank remains laser-focused to bring back retail inflation to 4 per cent over a period of time in a non-disruptive manner, Governor Shaktikanta Das stressed while voting for status quo in interest rates, as per minutes of the October policy meeting released on Friday. The central bank has been mandated by the government to ensure the Consumer Price Index (CPI) based inflation is at 4 per cent, with a band of 2 per cent on either side. The retail inflation, which was above 6 per cent during May and June, has started moving down and stood at 4.35 per cent in September.
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The Delhi high court on Wednesday directed Facebook and Google to remove alleged derogatory material related to Bharatiya Janata Party leader Sasikala Pushpa who claimed that her image was being tarnished by purported morphed photos and videos with a man on social media.
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"Having given our anxious consideration to this aspect of 'likelihood' of threat and terror, we are of the view that the foundations of our nation stand on surer footing than to be likely to be shaken by a protest, however vicious, organised by a tribe of college students or other persons, operating as a coordination committee from the confines of a University situate in the heart of Delhi," a bench of Justices Siddharth Mridul and Anup Jairam Bhambhani said in a 133-page judgement.
The high court directed Pinjra Tod activists Narwal and Kalita and Tanha to surrender their passports and not to offer any inducement to prosecution witnesses or tamper with the evidence in the case.
"If such blurring gains traction, democracy would be in peril," a bench of Justices Siddharth Mridul and Anup Jairam Bhambhani said in its 83-page judgement while deliberating with the case and imposition of anti-terror law against Kalita.
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The Delhi high court on Thursday ordered setting up of a medical board to examine the health condition of former Haryana Chief Minister Om Prakash Chautala, who along with 54 others is serving a jail term in the 2000 teachers' recruitment scam.
Salman celebrates Eid with family and friends.
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