Rupee to remain at 68-70 level: Economic Affairs Secretary
New Delhi, Aug 29 : On a day when the Indian rupee plunged to a record low of 70.65 to a US dollar, the government on Wednesday said it was expected to remain in the range of 68 to 70 during the year.
Economic Affairs Secretary Subhash Chandra Garg told the media that the depreciation in the rupee was due to some small mismatch in the demand and supply, which may go either way depending on the view taken by the operators.
He said while foreign portfolio investors took some USD nine billion from the country during the first three months of the current fiscal, net flow was at an equilibrium in July.
"This month there has been so far a positive inflow of over one billion dollars. That suggests the sentimental change about the view on rupee (and) that the current levels are fairly stable," Garg said.
"Therefore, that gives me some confidence that where we are today, there may not be much variation. So I retain the same view that between 68 to 70 is the level where the rupee would mostly remain.
"Considering fundamental supply of dollars and the demand, it should be fair to assume that that might be the level on which it will stay during the year," he added.
Earlier, after hitting an all-time low 70.65 per dollar, the rupee settled at 70.59 per dollar, depreciating by 49 paise from its previous close of 70.10 per dollar.
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Karnataka govt directs municipal corps to regulate, prohibit pigeon feeding
Bengaluru (PTI): The Karnataka government has issued directions to municipal corporations across the state to regulate and prohibit feeding pigeons in public places, citing serious public health concerns.
Deputy Secretary to Government V Lakshmikanth has written to the Urban Development Department requesting it to issue directions to the Greater Bengaluru Authority (GBA) and all municipal corporations to take immediate steps to implement the measures.
In an official note dated December 16 issued by the Health and Family Welfare Department and released to the media on Wednesday, the department said uncontrolled feeding of pigeons in public places has resulted in large congregations of birds, excessive droppings and serious health concerns, particularly respiratory illnesses linked to prolonged exposure to pigeon droppings and feathers such as hypersensitivity pneumonitis and other lung diseases.
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"The commissioner, the Greater Bengaluru Authority and the Commissioners and chief officers of other municipal corporations shall take necessary action to mitigate the causes of dangerous disease spread by pigeon and enforce specified guidelines in their respective jurisdiction," the note said.
According to the department, these include a prohibition on feeding pigeons or causing pigeons to be fed in areas where it may cause nuisance or pose a health hazard to the public. Pigeon feeding shall be permitted only in designated areas in a controlled manner, subject to certain conditions.
"The designated areas may be selected in consultation with stakeholders. The responsibility for upkeep of the designated areas and compliance to the directions shall be taken up by some charitable organisation or an NGO. The feeding in designated areas shall be permitted only for some limited hours in the day," it said.
The note further stated that authorised officers of local authorities shall issue on-the-spot warnings and may impose fines for violation of the order, or lodge complaints to prosecute offenders under Sections 271 (Negligent act likely to spread infection of disease dangerous to life) and 272 (Malignant act likely to spread infection of disease dangerous to life) of the Bharatiya Nyaya Sanhita.
It also directed local authorities to conduct public awareness campaigns, including the display of signboards, banners and digital messages, explaining the health hazards associated with pigeon droppings and feathers, the content of the regulatory directions and penalties for violations, and alternative humane methods of bird conservation that do not endanger public health.
