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India’s GDP could even shrink 0.9% in case coronavirus outbreak extends: CII

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Amid the nationwide lockdown, the economists and industry experts are estimating contraction for country’s GDP or gross domestic product.

The latest estimates by economists and industry experts highlight a gloomy situation for the county’s economy on account of the coronavirus-triggered lockdown, which continues to disrupt businesses worldwide.

As per the reports, the Confederation of Indian Industry (CII) has said the country’s GDP could even shrink 0.9 per cent in case the outbreak extends and spreads further.

In a report, titled “A Plan For Economic Recovery”, the CII estimated economic expansion between a negative 0.9 per cent (contraction) and 1.5 per cent based on three scenarios: “optimistic” (1.5 per cent growth), “base” and “downside risk” (0.9 per cent contraction).

“Given the extent of damage to the economy from disruption to business, the GDP growth in FY21 is likely to be the lowest in many decades,” said Director General Chandrajit Banerjee while releasing a paper with three scenarios.

Another Credit ratings major Fitch has also brought down its growth forecast for the country to 0.8 per cent in the fiscal year ending March 2021. Earlier, three weeks ago, it had projected a 2 per cent growth rate for the country.

It further expected the growth to rebound to 6.7 per cent in 2021-22.

The rating agency has predicted two consecutive quarters of contradiction – (-) 0.2 per cent in April to June and (-) 0.1 per cent in July to September.

As per the definition, the two consecutive quarters of negative GDP growth are known as a recession.

“World GDP is now expected to fall by 3.9 per cent in 2020, a recession of unprecedented depth in the post-war period,” NDTV quoted Brian Coulton, Chief Economist at Fitch Ratings as saying.

Government has announced a spending package of Rs 1.7 lakh crore, and the central bank has cut key interest rates to fight down the economic crisis due to the 40-day lockdown.

However, many economists believe that the measures announced by the government and the RBI fall short of the support needed to aid the country’s fight against the pandemic.

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4 arrested for sexual assault of spa employee

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Image: Pexels.com

Delhi Police captured four individuals after a worker of a spa center in Delhi’s Pitampura claimed she was molested and sexually exploited by its manager and a client.

A 22-year-old woman complained of rape in a spa center at Delhi’s Pitampura on Thursday.

Authorities from Maurya Enclave police station hurried to the spot and started the examination.

“On August 4, a PCR call was gotten at PS Maurya Enclave in regards to rape with a lady at a Spa Center, Pitampura Delhi. The police promptly arrived at the spot (the ocean spa center) where a victim aged 22 years along with her husband were present external the spa center and complained in regards to rape on her by the manager of the spa center and client,” said police.

She was sent to the hospital for her clinical assessment. A counselor from DCW visited her.

“She expressed that on June 30 she joined the spa on August 4 at around 6 p.m. one client came there along with the manager Rahul and requested sexual favors. Rahul offered her a soft drink, after drinking it she felt tipsy and both raped her,” said police.

A case under Sections 354A/328/376 D of IPC was registered and both the accused persons were arrested.

Source: ANI

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Gold medalist boxer became a robber in Delhi, arrested with two companions

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A burglary group has been busted in Delhi. A boxer was likewise remembered for this posse, who has additionally won gold decorations in certain contests. This posse of three individuals used to complete stealing from Baba Haridas Nagar of Delhi.

The group had looted a lady’s mobile phone in Baba Haridas Nagar on August 1. when the lady was getting back from work. The lady had let in her protest know that three unidentified individuals who had come on the motorcycle grabbed her mobile phone and took off. The police began the examination of the matter. Some CCTVs were additionally checked and individuals around were likewise addressed.

Then, at that point, on August 4, two individuals wandering in a similar region were gotten by the police. The first gave his name as Ankit (age 19 years) who hails from Jhajjar, Haryana. The other’s name is Shivam Kumar who lives in Sainik Enclave. He is additionally 19 years of age. The third is being told as a minor. The person who is there Ankit is a boxer. During interrogation, a stolen cell phone was also recovered from them.

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Unclaimed Bag, Tiffin Box in Delhi’s Rohini Spark Alarm But Nothing Suspicious Found

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Representational Image | Image Source: PTI

An unclaimed bag was found in Rohini region in delhi on Thursday, sending the security organizations like the special cell and bomb detection team soon to reach the spot and launched an investigation, police said.

After a careful review of the area, nothing suspicious was tracked down.

As per authorities, An unclaimed bag was tracked down in the parking lot close to DC Chowk, Rohini Sector-9.

A bomb identification and removal crew and sniffer canines had looked through the area, but it turned out to be a false alarm.

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