India eyes asset sales to partly fund higher spending next year: Report

Lavern Vogel

India is likely to spend more next fiscal year than this year’s budgeted $415 billion and prioritise infrastructure projects, relying on asset sales of around $40 billion for some of the funding, two people with knowledge of the plan told Reuters.


After largely keeping its purse strings in check as the coronavirus pandemic choked businesses and threw millions out of jobs, Prime Minister Narendra Modi’s government is keen to bring the economy back onto a solid growth path with the budget to be presented on Feb. 1.


Actual spending in the current fiscal year ending March 31 could be lower than the original target of 30.4 trillion rupees, but will be higher than last year’s 26.86 trillion rupees, one of the sources said.


“Supporting growth (and) infrastructure spending is the priority now, not fiscal-deficit math,” said one of the sources.


“But it is not that

Read More

Coronavirus LIVE: India cases at 6,074,702; recovery rate rises to 82.58%

Lavern Vogel

Coronavirus update: India on Sunday observed above 80,000 new Covid-19 cases, a notch much less than the regular each day additions given that very last month. Complete caseload currently stands at 6,073,348. The region has added above 1,000 deaths each day for 28 days. Loss of life toll now stands at 95,162. Health Minister Severe Vardhan explained that the results of the soon-to-be-launched 2nd sero survey indicated that India was still considerably from reaching any type of herd immunity. Warning against complacency, Vardhan explained that the 2nd sero survey results make it vital for every person to comply with Covid-ideal behaviour.
Coronavirus vaccine update: Adar Poonawalla, the CEO of Serum Institute of India, which is conducting trials of Covid vaccine candidates in advance of mass generation, took to Twitter to emphasize challenges in vaccine generation and distribution in the region. “Brief concern: will the Federal government of India
Read More

Coronavirus LIVE: India cases at 5,903,932; Kerala situation grave, says CM

Lavern Vogel

Coronavirus update: India on Friday recorded 85,362 coronavirus cases, getting its overall caseload previous the 5.nine-million mark. India has added more than 1,000 fatalities each working day for 26 days. Dying toll stands at ninety three,410. Delhi Deputy Main Minister Manish Sisodia, who is battling a double infection of Covid-19 and dengue, has been administered convalescent plasma treatment and his issue is much better now. In the meantime, Kerala is witnessing a sudden surge in new cases. The state witnessed greatest solitary-working day spike of 6,477 coronavirus cases on Friday, getting the infection tally to 159,933.
Coronavirus vaccine update: China secured the WHO’s backing for the crisis use of coronavirus experimental vaccines as early as in June to defend the people today from the pandemic even although the scientific trials had not been accomplished, Zheng Zhongwei, head of medical science development at the Nationwide Wellbeing Fee mentioned on Friday.

Earth … Read More