Hand out temporary ration cards to feed the poor: Abhijit Banerjee

Lavern Vogel

Nobel laureate and economist Abhijit Banerjee on Tuesday reported the national lockdown has in truth designed a havoc on the economic front and that the authorities is not distinct how considerably it is prepared to devote on a stimulus bundle as one for every cent of GDP is not enough to lift the condition. “A large amount of us have been expressing that we want a stimulus bundle. That’s what the US is undertaking, Japan is undertaking, Europe is undertaking. We seriously haven’t determined on a big enough stimulus bundle. We are however talking about one% of GDP. United States has long gone for ten% of GDP, ” he reported.

Banerjee in a virtual discussion with Rahul Gandhi, reported the authorities did a suitable issue in placing a moratorium on financial debt payments and that it can do extra than that by cancelling financial debt payments for this quarter completely.

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Oil & gas index surges nearly 3% amid a rally in oil prices; ONGC climbs 6%

Lavern Vogel

The S&P BSE Oil & Gas index surged approximately three for every cent to eleven,928.27 amounts in the intra-working day specials on Tuesday amid rise in crude oil price ranges on anticipations that fuel desire will begin to get better as some US states and nations in Europe and Asia commence to simplicity coronavirus lockdown actions.

The US benchmark West Texas Intermediate (WTI) crude futures rose as significantly as eight.two for every cent to a 3-week high of $22.06 for every barrel throughout the working day. It is on a five-working day gain streak that begun on April 29. Brent crude futures strike a high of $28.fifty seven a barrel and were being up for a sixth straight working day, Reuters described.

At ten:forty three am, the S&P BSE Oil & Gas index was ruling two.forty three for every cent increased at eleven,873.39 amounts. ONGC was the major gainer on

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Parts of Shastri Bhavan sealed after official tests positive for Covid-19

Lavern Vogel

A ground of the Shastri Bhavan, a government setting up that residences quite a few ministries, was partly sealed on Tuesday after a law ministry formal tested beneficial for coronavirus.

This is the next incident in the Lutyens’ zone of the sealing of the government office environment. The NITI Aayog setting up was sealed final month.

In accordance to two senior government officers, an officer of the Regulation Ministry, housed in the fourth ground of the Shastri Bhavan, has tested beneficial for Covid-19.

As for every protocol, contact tracing has been initiated, they stated.

The fourth ground ‘A’ wing from gate selection one to gate selection 3 has been sealed and is staying disinfected. Sure gates and lifts will also keep on being closed until Wednesday, the officers stated.

Before NITI Aayog, Rajiv Gandhi Bhawan, which residences the Civil Aviation Ministry, was also sealed for sanitisation just after a Covid-19

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