The dent on economic activity due to the second wave of the pandemic during April-May necessitated continuation of monetary measures to support the process of economic recovery to make it durable, Das had said while participating in the meeting of the Monetary Policy Committee (MPC) earlier in the month.

“Overall, the second wave of COVID-19 has altered the near-term outlook, and policy support from all sides fiscal, monetary and sectoral is required to nurture recovery and expedite return to normalcy,” Das said, as per the minutes of the meeting released on Friday.

Going forward, the governor said the pace of vaccination and the speed with which the second wave can be brought under control will have considerable bearing on the evolving growth as well the inflation trajectory.

The Reserve Bank remains committed to undertake pro-active conventional and unconventional measures and to effectively channelling the systemic liquidity to alleviate stress of critical sectors which have borne the brunt of the second wave, he said.

Das, and the other five members of the MPC — Shashanka Bhide, Ashima Goyal, Jayanth R Varma, Mridul K Saggar and Michael Debabrata Patra — had voted for keeping the policy repo rate unchanged at 4.0 per cent.

RBI Deputy Governor Patra observed that unlike in the first wave, supply conditions have remained relatively resilient in the second wave, but aggregate demand barring net exports has been dented and needs counter-pandemic policy support.

Even the turnaround in net exports is fragile and heavily dependent on the strength of the vaccination propelled revival in external demand, which may be partially offset by the terms of trade loss on account of the rise in international commodity prices, particularly crude oil, he noted.

Patra further said the MPC has created the necessary conditions for supporting growth by maintaining the policy rate at its lowest level ever

The post Support needed from all sides for recovery RBI appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

India has recorded 76,51,107 confirmed COVID-19 cases, including 1,15,914 deaths. Maharashtra, Andhra Pradesh and Karnataka have reported the highest number of cases. However, infections are rising rapidly in states like Tamil Nadu, Uttar Pradesh and West Bengal. Yet, India’s recovery rate continues to rise and now stands at 88.8 percent.

worst-affected states:

Maharashtra: 16,09,516 (includes recoveries, deaths and active cases)
Andhra Pradesh: 7,89,553
Karnataka: 7,76,901
Tamil Nadu: 6,94,030
Uttar Pradesh: 4,59,154

India has leaped across several significant milestones in its fight against COVID.The new confirmed cases in the last 24 hours have fallen below 50,000 (46,790) for the first time in nearly three months. The new cases were 47,703 on 28^th July.In another achievement, the percentage active cases have fallen below 10%. The total positive cases of the country today are less than 7.5 lakh (7,48,538) and comprise merely 9.85% of the total cases.The slide in active cases is supplemented by an exponential rise in recoveries. The total recovered cases have crossed 67 lakhs (67,33,328). The difference between active cases and recovered cases is consistently increasing and stands at 59,84,790 today.69,720 patients have recovered and discharged in the last 24 hours. The national Recovery Rate has further grown to 88.63%.78% of the new recovered cases are observed to be concentrated in 10 States/UTs .Maharashtra continues to lead with more than 15,000 single day recoveries followed by Karnataka with more than 8,000 recoveries.75% of the new confirmed cases are from 10 States and UTs. Maharashtra, Karnataka and Kerala contribute more than 5,000 to the new confirmed cases.587 case fatalities have been reported in the past 24 hours. Of these, nearly 81% are concentrated in ten States/UTs. The deaths are below 600 for second consecutive day.Maharashtra has reported the maximum single day deaths (125 deaths). India is the only country with the highest recoveries and continues to have one of the lowest fatality rates globally. Today it stands at 1.52%.

Meanwhile Dr. Harsh Vardhan, Union Minister of Health and Family Welfare interacted with Sh. Nitinbhai Patel, Deputy Chief Minister and Minister for Health and Medical Education, Gujarat in the presence of district collectors of all the districts and senior health officials of the State and the Union yesterday. Reminding everyone that the country is currently in the tenth month of the pandemic, Dr. Harsh Vardhan said, “Active cases are currently around 7,72,000 which has been less than 10 lakhs for close to a month. 55,722 cases were reported in the last 24 hours while 66,399 cases were discharged from care. Doubling time has been diluted to 86.3 days and the country will soon cross the figure of 10 crore cumulative tests.” On the management of COVID in Gujarat, he noted, “From being one of the top affected states earlier, the state has shown remarkable stride to have a recovery rate of 90.57% comparable to the recovery rate of India (88.26%).” He congratulated the State for conducting 77,785 tests per million against the country’s figure of 68,901. Reiterating his statement that the coming winter and the long festive season pose a significant risk that could threaten the gains made against COVID-19, he said, “We should all be vigilant for the next three months. Prime Minister’s message of wearing a mask/face cover, maintaining a physical distance and frequent handwashing should reach the last citizen. Steps should be taken to monitor their non-compliance. Following COVID appropriate behaviour is simple.”

The post Cases below 50 k  first time in 3 months appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

India reporting 80,472 new cases and 1,179 deaths in the last 24 hours ending 8 am on Wednesday, the total number of coronavirus infections crossed the 62 lakh-mark to reach 62,25,764. Of the total, 97,497 people have succumbed to the virus, 9,40,441 are active cases, while as many as 51,87,826 people have been treated and discharged so far.

On Tuesday, daily coronavirus cases in India dropped below 75,000 and less than 1,000 deaths were reported in a day after nearly a month. India’s recovery rate is 83.01 per cent, the highest in the world. The fatality rate, on the other hand, is 1.57 per cent.

Meanwhile, Vice President M Venkaiah Naidu on Tuesday tested positive for the novel coronavirus. Releasing a statement, the office of the Vice President said that Naidu underwent a Covid-19 test today morning. As per reports, Naidu is asymptomatic and in home quarantine.

Releasing the findings of the second nationwide sero-survey on Tuesday, ICMR Director General Balram Bhargava said 6.6 per cent of the 29,082 people (aged 10 years and above) surveyed from August 17 to September 22 showed evidence of past exposure to Covid-19. The prevalence was higher for adults (aged 18 years and above) at 7.1 per cent.

meanwhile govt said India continues to report high number of recoveries. The recovered cases have exceeded the new confirmed cases again during the past 24 hours. With this, India’s Recovery Rate has leaped past 83% today. 84,877 recoveries have been registered in the last 24 hours in the country . The total number of recoveries has touched 51,01,397. 73% of the new recovered cases are being reported from ten States, viz. Maharashtra, Karnataka Andhra Pradesh, Tamil Nadu, Uttar Pradesh, Delhi, Odisha, Kerala, West Bengal and Madhya Pradesh. Maharashtra is topping the list with nearly 20,000 recoveries while Karnataka and Andhra Pradesh both contribute more than 7,000 to the single day recoveries. The sustained high level of recoveries have led to further widening of the gap between active and recovered cases. Recovered cases exceed the active cases (9,47,576 ) by more than 41.5 lakh (41,53,831). The recovered cases are 5.38 times the active cases ensuring that the recoveries are consistently rising. The active caseload of the country presently is merely 15.42% of the total positive cases and is consistently declining. A total of 70,589 new cases have been reported in the last 24 hours in the country. 10 States/UTs account for 73% of the new confirmed cases. Maharashtra continues to lead this tally. It has contributed more than 11,000 followed by Karnataka with more than 6,000 cases. There have been 776 deaths in the past 24 hours. 10 states/UTs account for 78% of the deaths in the last 24 hours due to COVID. Of the new deaths, Maharashtra reported more than 23% of deaths with 180 deaths followed by Tamil Nadu with 70 deaths.

The post Covid cases still above 80 thousand appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.