Budget Session of Parliament starts with an address by President Ram Nath Kovind
Budget Session 2020 began with a speech by President Ram Nath Kovind. The President delivered this speech in the Central Hall of Parliament at 11 am and spoke about a host of issues. He lauded the people of India for their acceptance of the Ram Janmabhoomi verdict. The President also spoke about the achievements of the government and urged citizens to refrain from violent protests. President Kovind also spoke about the abrogation of Article 370. “The abrogation of Article 370 and Article 35A of the Constitution through two-thirds majority by both the Houses of Parliament is not only historic but it has also paved the way for equal development of Jammu and Kashmir and Ladakh,” he said.
SOURCE: Business Today
Govt. revises downwards the economic growth rate for 2018-19 to 6.1% from 6.8% estimated earlier
The government on Friday revised downwards the economic growth rate for 2018-19 to 6.1 per cent from 6.8 per cent estimated earlier mainly due to deceleration in mining, manufacturing and farm sectors. Under the first revision released in January 2019, real GDP or GDP at constant (2011-12) prices for 2017-18 was pegged at ₹131.80 lakh crore, showing a growth of 7.2 per cent. During 2018-19, at constant prices, the growth rates of primary (comprising agriculture, forestry, fishing and mining & quarrying), secondary (comprising manufacturing, electricity, gas, water supply & other utility services, and construction) and tertiary (services) sectors have been estimated at 1.0 per cent, 6.0 per cent and 7.7 per cent, as against 5.8 per cent, 6.5 per cent and 6.9 per cent, respectively, in the previous year.
India bans export of all kind of respiratory masks used to protect people from air borne particles
India on Friday banned exports of all kinds of personal protection equipment, including clothing and masks used to protect people from air borne particles. The move assumes significance as there could be a spurt in demand for such products due to outbreak of deadly coronavirus that has claimed more than 200 lives in China while the number of confirmed cases reached near 10,000. Air India’s 423-seater jumbo B747 plane took off from the Delhi airport on Friday to evacuate Indian nationals from Wuhan as China deals with the novel coronavirus outbreak. The government has reached out to over 600 Indians living in China’s Hubei province, the epicenter of the outbreak, to ascertain their willingness to be brought back to India.
SOURCE: Livemint, Economic Times
WHO announces ‘public health emergency of international concern’ over the coronavirus crisis in China and other nations
The new coronavirus has been declared a global emergency by the World Health Organization, as the outbreak continues to spread outside China. The concern is that it could spread to countries with weaker health systems. Meanwhile, the US has told its citizens not to travel to China. The state department issued a level four warning – having previously urged Americans to “reconsider” travel to China – and said any citizens in China “should consider departing using commercial means”. China has said it will send charter plans to bring back Hubei province residents who are overseas “as soon as possible”. At least 213 people in the China have died from the virus, mostly in Hubei, with almost 10,000 cases nationally.
SOURCE: BBC News
The Economic Survey 2019-20 was tabled in Parliament on January 31, 2020
India’s Economic Survey 2019-20 was tabled in the Parliament by Finance Minister Nirmala Sitharaman. The survey is usually released a day before the Union Budget is tabled. It is an official report card on the government’s financial performance and the state of the economy during the year ending March 31. The Economic Survey reviews the developments in the Indian economy over the previous 12 months. The survey projected GDP growth at 6-6.5% for Financial Year 2020-21.
SOURCE: The Hindu