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News of the Day 13 Sep 2019
- September 13, 2019
- Posted by: Shivam
- Category: NEWS Worth To Read
News of the Day 13 Sep 2019
India’s growth ‘much weaker’ than expected, still much ahead of China: IMF
India’s economic growth is “much weaker” than expected, the IMF said on Thursday, attributing the reasons to corporate and environmental regulatory uncertainty and lingering weaknesses in some non-bank financial companies. The International Monetary Fund (IMF) in July projected a slower growth rate for India in 2019 and 2020, a downward revision of 0.3 per cent for both the years, saying its GDP will now grow respectively at the rate of 7 and 7.2 per cent reflecting a weaker-than expected outlook for domestic demand.
However, India will still be the fastest growing major economy of the world and much ahead of China, the Washington-based global financial institution had said.
“We will have a fresh set of numbers coming up but the recent economic growth in India is much weaker than expected, mainly due to corporate and environmental regulatory uncertainty and lingering weakness in some non-bank financial companies,” IMF spokesman Gerry Rice told reporters at a news conference here on Thursday.
The risks to the outlook are tilted to the downside, he added. Responding to a question on the recent GDP figures of India, Rice said the IMF will monitor the economic situation in India. “We will update that assessment in the upcoming world economic outlook,” he said.
Odd-even traffic rule back in Delhi from November 4-15 to tackle pollution, says CM Arvind Kejriwal
The Odd-Even vehicle rationing plan will be back in Delhi between November 4 and 15 to tackle pollution during winter, Chief Minister Arvind Kejriwal announced on Friday.
This comes a day after environment experts recommended the rationing and use of face masks as “short term measures” to fight pollution during the winter months when the air quality in Delhi dips to alarming levels, the state government said in a statement on Thursday.
Kejriwal had met environment and sustainability experts to formulate winter air pollution action plan so that the city is prepared to tackle the pollution levels.
Delhi has earlier also experimented with Odd-Even plan, though opinion is divided on the gains, if any, from the rationing system.
In 2017, a joint study conducted by atmospheric scientists of IITs and IIM had revealed that in the first phase of odd-even scheme the levels of pollution declined only by 2%-3%. Only three areas in Delhi—Najafgarh, Shalimar Bagh and Greater Kailash—witnessed 8%-10% drop in pollution due to the odd-even scheme, the study showed.
Experts also said that the use of pollution masks could be beneficial as an effective risk-mitigation measure. “In a study done by EPIC India across 3,500 slum residents of Delhi in winter of 2018, it was found that take-up of masks was the highest when it was distributed free,” the statement said.
(Source – Hindustan Times)