Friday, May 29, 2020

If 71% believe in our greatness, can they be wrong?

"Prime Minister Narendra Modi said India will set an example in economic revival before the world just like it has outperformed many developed countries in fighting the Covid-19 pandemic." "India reported 7,466 new novel coronavirus cases in the past 24 hours, Health Ministry data showed Friday morning. This is the first time more than 7,000 Covid-19 cases have been detected in a 24-hour period and follows seven straight days of more than 6,000 new cases per day." "In a shocking case of medical apathy, several dead bodies were kept at a passage inside the premises of Lok Nayak Jai Prakash Narayan Hospital (LNJP Hospital) in Delhi as the mortuary ran out of space. The LNJP hospital is one of Delhi's dedicated Covid-19 facilities." According to an epidemiologist, virus cases will peak around middle of July, though the surge will be lower because of early action. "Around 71 percent of Indians believe the government's over Rs 20 lakh crore (Rs 20 trillion) stimulus package will lead to economic recovery." "Over three-fourths of micro, small and medium enterprises (MSMEs) in the national capital region have cut employee salaries while nearly two-thirds are resorting to layoffs after seeing no rise in demand, a private survey showed. Forty four percent of respondents said the relief measures announced by the government earlier this week did not meet expectations and 86% wanted direct cash support from the government." "More people could die from hunger than the virus," said Ashwajit Singh, managing director of IPE Global. A study by the United Nations University estimated "104 million Indians could fall below the World Bank-determined poverty line of $3.2 a day for lower-middle-income countries", which will take "the proportion of people living in poverty from 60% -- or 812 million currently, to 68% or 920 million". "Indian banks may need to raise $20-50 billion capital in the next two years as bad loans and credit costs rise due to the Covid-19 induced slowdown in the economy, brokerages and rating agencies believe." "While the government has relaxed lockdown norms, as many as 8,917 projects worth over Rs 21.11 lakh crore across various sectors under execution in 108 red zone districts are at a standstill even now, a survey said." "Is it possible to survive on just boiled rice and rotis?" asked Sayantan Bera. "But most families are doing exactly that: consuming boiled rice and salt or wheat flatbread with chilly paste." "About five years ago, one curious metric in the US stood out as being significant. $1 and $5, both physical bills and digital amounts, were exchanged, on average, more than three times a day. By contrast, Rs 50 and Rs 100 currency were exchanged less than 80 times a year in India," wrote Ateesh Tankha. Shows how little Indians consume compared to Americans. However, in a great victory over Pakistan, after Balakot, India has captured a 'spy pigeon' from Pakistan. All hail Supreme Leader.    

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