INDIA
Tapering Covid: Monetary policy to be retained against volatility
Besides, economy watchers have ruled out any reduction in key lending rates during the first monetary policy review coming after one of worst phases of Covid-19 pandemic. Accordingly, RBI's monetary policy committee (MPC) is expected to retain rates as well as the current accommodative stance due to growth concerns amidst resurgence of Covid-19.
Covid resurgence triggers contraction in India's May services sector output: PMI
Moreover, the data indicated that India's service providers struggled in May, with the intensification of the Covid-19 crisis causing renewed declines in new business and output. Consequently, at 46.4 (index value) in May, down from 54 in April, the seasonally adjusted India Services Business Activity Index was in contraction territory for the first time in eight months.
After Pfizer, Moderna, now SII seeks indemnity from liability: Sources
This comes as the Centre is favourably considering granting indemnity against legal proceedings to foreign vaccine makers Pfizer and Moderna prior to their rollout in India. "All vaccine makers, whether Indian or foreign, should be granted the same protection," the Adar Poonawalla-led company has reportedly told the government.
Snowman Logistics partners with Dr. Reddy's for Sputnik vax in India
Snowman will manage the delivery through five of its high-capacity temperature-controlled warehouses in Mumbai, Delhi-NCR, Kolkata, Chennai, and Bengaluru. The company will offer storage, order processing, shipper packing and secondary transportation from these locations. The locations are strategically located to take care of not just the state distribution, but the whole of the regional requirements.
ED arrests RJD RS Member AD Singh in Fertilizer scam case
A top ED official confirmed to IANS, "Singh has been arrested in connection with the case." The official said that the RJD MP was taken from his residence in South Delhi's upscale Defence Colony. The official, however, did not share more details of the case. Singh was nominated to Rajya Sabha by the RJD in March last year.
India reports 1.34 lakh Covid cases, 2,887 deaths in 24 hrs
On June 1, India reported 1,27,510 cases lowest since April 8. On April 8, India had recorded 1,31,968 cases while on April 7, the country witnessed 1,26,789 fresh cases. Most Metro cities are still fighting the second wave, though Mumbai and Delhi have arrested the surge. India's overall tally of Covid-19 cases now stands at 2,84,41,986 with 17,13,413 active cases and 3,37,989 deaths so far.
Resilient Indian economy to rebound: Anurag Thakur counters Chidambaram
"Indian economy is resilient and will rebound in the times ahead based on consistent reforms that have ensured strong fundamentals through these difficult times," he said. "I am not surprised that the former Finance Minister chose to ignore hard data and instead went ahead with 'whataboutery'. The Congress leadership has embodied this clueless approach over the years," the MoS Finance added.
Supply vaccine for June by first week, Stalin urges Centre
In a letter to Union Health Minister, Dr Harsh Vardhan he also said that the state has not received vaccines proportionate to its size and population, and caseload, and requested that this could be compensated by a special allocation of 50 lakh doses of vaccine under the centre channel and other state channels.
Time to act is now, says Harsh Vardhan at virtual WHO meeting
Harsh Vardhan, who successfully completed his tenure as the chairperson of the executive board of WHO, said in his address, "I believe that we at WHO must all rise to the occasion, to save the powerless and the voiceless, to see hope in these darkest of hours. This is one chance, one moment to forge open collaborations and reaffirm the fundamental truth that the world is one. "I draw from the Indian philosophy of Vasudhaiv Kutumbakam – ‘the world is one family'.
Air quality in Delhi to be moderate for next 3 days
According to the National Weather Forecasting Centre of the India Meteorological Department (IMD), the predominant pollutant will be PM10. The strong surface winds are favourable for raising dust locally and for transporting of dust from nearby region. The air quality is likely to drop to the 'poor' category from June 7. On Thursday, the predominant surface wind is likely to come from the southwest/west with a wind speed 10-20 kmph, with the possibility of partly cloudy sky and very light rain/thundershower.
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