Finance Minister to unveil another stimulus soon, says Economic Affairs Secretary
New Delhi: Finance Minister Nirmala Sitharaman will soon announce the next set of the stimulus package to boost the coronavirus-hit economy, Economic Affairs Secretary Tarun Bajaj said on Tuesday.
The Finance Ministry is looking into suggestions and requests received from various sectors of the economy, he said at a virtual conference with media.
"We are actually discussing that. It is difficult for me to commit a date but we have received a lot of requests and comments from various sectors and we are looking into it. Very soon it will be unveiled. The finance minister will come out and speak to you on that," he said.
The finance minister last month had announced a slew of measures to spur demand and ramp-up capital expenditure. This was the third stimulus package since the outbreak of the COVID-19 pandemic.
The government had announced a Rs 1.70 lakh crore Pradhan Mantri Garib Kalyan Yojana (PMGKP) in March to protect the poor and vulnerable sections from the impact of the COVID-19 crisis.
It was followed by the Aatmanirbhar Bharat Abhiyan package of Rs 20.97 lakh crore in May, largely focussed on supply-side measures and long-term reforms.
The finance minister last month had said the option for another stimulus package has not been closed.
"I have not closed the option for another stimulus package if it comes out to be, because every time we announced one, it has been after a lot of consideration of inputs which have come from various sections of society.
"Then we sit and work it out within the ministry and Prime Minister's Office and then take a final call. So, I have not closed the option to come up with one more stimulus," Sitharaman had said.
Terming elevated food prices a temporary phenomenon, Bajaj said it should be back to normal soon on the back of the arrival of new crops and government measures for improving the supply of essential commodities.
Some commodities like onion, potato, and tomato are as costly as Rs 100 per kg, much higher than the average price.
"I think this should be temporary in our view... There is actually a difference between the WPI and the CPI. So, that itself shows that this should be something to do with logistics, and with a good agricultural season that is coming and the new crop with us we are hoping that this should cool down," Bajaj said.
Nevertheless, he said agriculture and consumer affairs ministries have also announced some steps to cool down the prices.
"We think that it is a temporary affair and it should be back to normal soon and also limited to few commodities," he said.
On the recovery, Bajaj said India continues to see an uptick in the economy for the past few months since the unlock began and there would be further improvement in the months to come.
"We are actually seeing an improvement in all parameters generally and we are expecting a further improvement in the month of November and this should continue. Hopefully, the economy should be back on rails and it is moving much faster than what had been anticipated by a lot of experts and economists, he said.
Last month, the International Monetary Fund said the Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 percent this year.
However, it projected a rebound to 8.8 percent in 2021. Last financial year, India witnessed a growth rate of 4.2 percent.
Last week, the finance minister had said there were visible signs of revival in the economy and the GDP growth may be in the negative zone or near zero in the current fiscal.
Bajaj said, "We continue to see an uptick in the economy since the past few months since the opening up of the economy and the manufacturing PMI has touched 58.9, which is the highest in the last decade. The power consumption in the month of October is 12.10 percent more than October 2019, which is a signal of economic activity."
He also said India's growth story is intact despite the COVID crisis and there is a lot of interest from investors from across the world.
"So, in spite of Covid situation that we are facing, we find that there is a lot of interest, a lot of traction, there are a lot of inquiries from investors... a lot of deals are being talked about, which shows that in spite of Covid situation, our growth story which we feel is intact is also accepted by others who are ready to invest into India during these times," he said.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
MP HC sets up judicial commission to probe water contamination in Indore
Indore (PTI): The Indore bench of Madhya Pradesh High Court on Tuesday set up a commission of inquiry comprising a former HC judge to probe the issue of water contamination in city's Bhagirathpura, saying the matter requires probe by an independent, credible authority and "urgent judicial scrutiny".
It also directed the commission to submit an interim report after four weeks from the date of commencement of proceedings.
A division bench of Justices Vijay Kumar Shukla and Alok Awasthi constituted the commission while hearing several public interest litigations (PILs) filed simultaneously regarding the deaths of several people in Bhagirathpura due to the consumption of contaminated water.
The HC reserved the order after hearing all the parties during the day, and released it late at night.
The state government on Tuesday told the HC that the deaths of 16 people in Indore's Bhagirathpura area was possibly linked to a month-long outbreak of vomiting and diarrhoea caused by contaminated drinking water.
The government presented an audit report of 23 deaths from the current gastroenteritis epidemic in Bhagirathpura before the bench, suggesting that 16 of these fatalities may have been linked to the outbreak of vomiting and diarrhoea caused by contaminated drinking water.
The report, prepared by a committee of five experts from the city's Government Mahatma Gandhi Memorial Medical College, stated that the deaths of four people in Bhagirathpura were unrelated to the outbreak, while no conclusion could be reached regarding the cause of death of three other people in the area.
During the hearing, the high court sought to know from the state government the scientific basis behind its report.
The division bench also expressed surprise at the state government's use of the term "verbal autopsy" in relation to the report, sarcastically stating that it had heard the term for the first time.
The HC expressed concern over the Bhagirathpura case, stating that the situation was "alarming," and noted that cases of people falling ill due to contaminated drinking water have also been reported in Mhow, near Indore.
In its order, the HC said the serious issue concerning contamination of the drinking water supply in Bhagirathpura area allegedly resulted in widespread health hazards to residents, including children and elderly persons.
According to the petitioners and media reports, death toll is about 30 till today, but the report depicts only 16 without any basis or record, it said.
It is averred that sewage mixing, leakage in the pipeline, and failure of civic authorities to maintain potable water standards have led to the outbreak of water-borne diseases. Photographs, medical reports, and complaints submitted to the authorities prima facie indicate a matter requiring urgent judicial scrutiny, the HC said.
"Considering the gravity of the allegation and affecting the right to life under Article 21 of the Constitution of India and the need for an independent fact-finding exercise, the Court is of the opinion that the matter requires investigation by an independent, credible authority," it said.
"Accordingly, we appoint Justice Sushil Kumar Gupta, former judge of the Madhya Pradesh High Court, a one-man commission of inquiry into the issues relating to water contamination in Bhagirathpura, Indore, and its impact on other areas of the city," the HC added.
As per the order, the commission shall inquire into and submit a report on the cause of contamination -- whether the drinking water supplied to Bhagirathpura was contaminated; and the source and nature of contamination (sewage ingress, industrial discharge, pipeline damage etc).
The panel will also probe the number of actual deaths of affected residents on account of contaminated water; find out the nature of disease reported and adequacy of medical response and preventive measures; suggest immediate steps required to ensure safe drinking water as well as long-term infrastructural and monitoring reforms.
It will also identify and fix responsibility upon the officers and officials found prima facie responsible for the Bhagirathpura water contamination incident, and suggest guidelines for compensation to affected residents, particularly vulnerable sections.
The commission shall have powers of a civil court for the purpose of summoning officials and witnesses; calling up records from the government department, hospitals, laboratories and civic bodies; ordering water quality testing through accredited laboratories; conducting spot inspections.
All state authorities involving district administration, Indore Municipal Corporation, public health engineering department and Madhya Pradesh Pollution Control Board shall extend full co-operation and provide records as sought by the commission, it said.
The state government shall provide office space, staff, and logistical support to the commission, it said.
During the hearing in the day, the state government also presented a status report to the court in this matter.
According to reports, a total of 454 patients were admitted to local hospitals during the vomiting and diarrhea outbreak, of whom 441 have been discharged after treatment, and 11 are currently hospitalised.
According to officials, due to a leak in the municipal drinking water pipeline in Bhagirathpura, sewage from a toilet was also mixed in the water.
