World Bank cuts India’s growth projection to 6 per cent
The World Bank has said that India’s growth rate is likely to fall to 6 per cent as the economy battles a slowdown. The growth rate stood at 6.9 per cent in 2018-2019.
The World Bank though said that GDP growth rate was expected to gradually recover to 6.9 per cent in 2021 and 7.2 per cent in 2022. The ‘South Asia Economic Focus’ report said growth will recover as rural demand benefits from effects of income support schemes, results of tax incentives and credit growth resumes.
“Exports growth is expected to remain modest, as trade wars and slow global growth depresses external demand,” the report added.
In the quarter ended June, India’s GDP growth slowed down to 5%. This is the slowest pace in which the economy has expanded since March 2013, when the growth rate was 4.7%. The slowing down of household, which also affected other sectors, demand was one of the major factors for the decline
The World Bank noted that growth decelerated for the second consecutive year and pointed out to the widening current account deficit. India’s current account deficit, a parameter which reflects the trade balance, was 2.1 per cent of the GDP in 2018-19 from the 1.8 per cent a year earlier.
The industrial output figures for August showed that output shrank by 1.1%, it had seen a growth of 4.2% a month ago. Earlier this month, data showed that the output of eight core sector industries that constitute about 40% of Index of industrial production recorded a 0.5% decline in August.
The auto industry is experiencing a hard time. In September, car sales slumped to 23.7%, the eleventh straight month of decline.
The government is working on several policies to boost the sluggish economy. Finance minister Nirmala Sitharaman has already announced five rounds of fiscal, administrative and policy measures to stimulate the economy since August 23. The biggest among these was the slasing of the corporate tax rates.
The Reserve Bank of India cut policy rates by 25 basis points this month and the central bank said it will continue its accommodative stance to revive growth.
Delhi Police Arrest Three in Wine Shop Burglary Case, Including Bangladeshi National
New Delhi: In a significant development, the Delhi police apprehended three individuals, including a Bangladeshi national, in connection with a recent burglary at a wine shop in Krishna Nagar police station area. The arrests were made in Ghaziabad, Uttar Pradesh, as confirmed by the police on Saturday.
The arrested individuals have been identified as Bilal, a Bangladeshi national, and Mohd Gazi Sheikh and Shaikh, both hailing from West Bengal, according to officials.
The incident came to light when the victim, Wasim Abbas Naqvi, a resident of Shahdara, Delhi, approached the police on April 25 to file a complaint. Naqvi reported that unidentified culprits had entered the wine shop by digging a hole in the roof, subsequently breaking the lock of the Almirah and stealing a significant amount of money.
Following the complaint, a case was registered under sections 457/380/411/34 of the Indian Penal Code (IPC) at Krishna Nagar police station, considering the gravity of the matter and the unusual method employed by the perpetrators.
A joint team comprising TST Shahdara and Crack Team Krishna Nagar was formed to investigate the case. The initial stage of the investigation involved the analysis of more than 50 CCTV footage obtained from the vicinity of the crime scene.
Preliminary findings from the CCTV footage revealed that three to four individuals had arrived at the wine shop on foot around 1:30 am. They accessed the vacant area above the store and executed the burglary by digging a hole. However, due to the late hour, no further leads were immediately apparent regarding their escape route.
Taking a technical approach, ASI Deepak Kumar from the Technical Surveillance team analyzed thousands of mobile numbers, eventually shortlisting 150 potential suspects. These numbers were subjected to further examination, including analysis of Call Detail Records (CDRs), Subscriber Detail Records (SDRs), dossiers, and social media profiles. This meticulous analysis aided in identifying each of the accused individuals.
Following the identification process, a multi-layered CDR analysis was conducted on the suspects, leading to the planning of targeted raids for their apprehension. The accused individuals were found to be residing in sensitive areas of Loni and Pasonda.
The Crack Team Krishna Nagar then initiated field operations and executed the raids with the utmost sensitivity, considering the sensitive nature of the locations involved. As a result, all the accused individuals were successfully apprehended. The police recovered a sum of INR 44,700, along with the clothes and shoes worn during the burglary, a mobile phone, and a scooter that were purchased using the stolen money and utilized during the crime.
The Delhi police expressed their satisfaction with the outcome of the operation, highlighting the successful collaboration between various teams and the utilization of advanced investigative techniques. The arrested individuals will now face legal proceedings as per the law.
Woman found dead in under construction building in Delhi’s Sonia Vihar
On Saturday, officers reported the discovery of a deceased 30-year-old woman in an under-construction building located in Sonia Vihar, Northeast Delhi. The woman, identified as Meena Giri, was a mother of three children and a resident of Sonia Vihar.
According to DCP (Northeast) Joy Tirkey, a PCR call was received at 10:34 am on Saturday, reporting the finding of a woman’s body with visible blood on her head and face in a building under construction in Sonia Vihar. Meena Giri and her husband, Kripa Shankar, originally hailed from Ayodhya in Uttar Pradesh. “As per Kripa Shankar’s statement, Meena had been missing since 7 pm on Friday,” stated the police.
Authorities have identified a worker in the area as the primary suspect. It is suspected that the woman and the accused were acquaintances who engaged in an argument over a certain matter. Allegedly, in a fit of rage, the accused fatally assaulted Meena with a heavy object.
Delhi Crime Branch Takes Down Drug Dealers: 43 Arrested, Narcotics Worth Crores Seized
The Crime Branch of the Delhi Police announced on Sunday that it has apprehended more than 43 individuals and confiscated drugs valued at Rs 1-2 crore. These actions were carried out through simultaneous raids conducted at 100 different locations across the national capital under the initiative named Operation Kawach.
According to police sources, they have also identified more than 64 hotspots within the city where the sale and consumption of drugs such as heroin, MDMA, ganja, and other narcotics are prevalent. It has been reported that a significant number of the apprehended individuals were specifically targeting school and college students.
Since January, the Delhi Police have been actively engaged in combating drug abuse, as well as detecting and preventing its spread among both young children and adults. These efforts have been undertaken under the guidance of Union Home Minister Amit Shah.
Ravindra Singh Yadav, the Special Commissioner of Police (Crime), stated, “We have carried out our actions in accordance with the directives of the Ministry of Home Affairs and the Anti-Narcotics Task Force (ANTF). Over the past five months, we have arrested 534 offenders in 412 NDPS (Narcotic Drugs and Psychotropic Substances) cases. In the process, we have successfully recovered approximately 35 kg of heroin/smack, 15 kg of cocaine, 1,500 kg of ganja, 230 kg of opium, 10 kg of charas, and 20 kg of poppy husk.”
To increase their effectiveness, the police formed 80 specialized teams and instructed field officers to apprehend more offenders. Between May 12 and 13, these teams conducted raids at 100 locations, leading to the arrest of over 43 drug peddlers.
Yadav further added, “This operation was a collaborative effort involving the district police. We utilized undercover officers, surveillance teams, canine squads, and intelligence teams for assistance. Our operation successfully targeted drug dealers at both the street-level and higher levels in Delhi.”
The majority of the drug recoveries were made in the areas of North Delhi, Rohini, Dwarka, and East Delhi.
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