THRISSUR l Saturday l October 10, 2020 l `7.00 l PAGES 12 l city EDITION Trump slaps anti-dumping duty on India; China spared The Donald Trump administration on Friday imposed steep new tariffs on $2 bn in aluminium imports from 18 countries 353% tariff for Germany, 48% for India Levy collection to start immediately Germany and Brazil face the steepest tariffs of close to 353% and 137%, respectively. India faces up to 48% tariff. US Commerce Secretary Wilbur Ross said China is not on the list. “What’s really been happening is Chinese excess capacity has been dumped into other markets. That, in turn, displaces production which gets dumped here,” he explained ■ ■ The US will immediately begin collecting the tariffs from importers, the Commerce Department said “Most countries impacted by the pandemic are becoming more protectionist and are trying to shut out imports on one pretext or the other,” said Biswajit Dhar, economics professor at JNU | P10 $123 bn Value of common alloy aluminium sheet India exported to U.S. in 2019 CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOgGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ WARANGAL ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI Import of dates: Customs quizzes Sivasankar for 12 hours, arrest looms large GDP growth in Q1 of FY22 pegged at 20%; a second Covid wave may disturb projections S u n i t h a N at t i The Reserve Bank of India (RBI) is done punching numbers. Its official read on the economy — the first since the coronavirus outbreak — shows India’s real GDP growth to first contract 9.5% in FY21, but rebound to score a perfect 10% in FY22. But as uncertainty of the virus spread continues to fog the outlook, all forecasts are pretty much down to the wire. According to RBI Governor Shaktikanta Das, the disastorous phase is behind us. Meaning, the sudden and steep contraction like 23.9% seen in Q1 is over and growth rates will regain their model behaviour hereon. The central bank’s projections pursued three scenarios — benign, baseline, and adverse. Taken together, GDP could contract 7.5-11.5% in FY21, but rebound by 7.2-11.6% in FY22. The big cheese is, regardless of the scenario, growth is bound to recover in 2021, though much will depend on investments, consumer spending, monsoon, exports, global growth, and of course some good luck and fortune. All this is subject to avoiding a second wave of infections, and it’s unclear if RBI modelled such a scenario where the ‘deathly grip of the virus’ invokes future lockdowns or delays re-opening of the economy. In Q2, growth may shrink MPC keeps key rates unchanged RBI has kept key interest rates unchanged. The sixmember Monetary Policy Committee, with three newly inducted external members, voted unanimously to retain the benchmark repurchase or repo rate at 4% while keeping its policy stance accommodative, implying it could ease again 9.8%, followed by an even modest 5.6% contraction in Q3 and eventually recover to 0.5% in Q4. If everything goes by the script, real GDP growth in Q1 of FY22 will be an unprecedented 20.6%. Notwithstanding the overwhelming evidence pointing to recovery, the question on the pace of reboud remains. Will it be a V U, , W, L or K-shaped? Das believes it could be a 3-speed recovery First . layer includes sectors opening up early like agriculture and allied activities, FMCG goods and auto to an extent. Second includes those where activity is normalising gradually followed by third comprising ‘slog overs,’ or those entities severly affected by social distancing norms. With agriculture outlook remaining robust, it’s expected to boost rural demand and consumption may go up in CONTINUED ON: P10 Q3. Dal delight A girl enjoys participating in the three-day water sports event, Jashen-e-Dal, organised by J&K Police at Dal Lake after three years, in Srinagar on Friday | PTI Indian Muslims are world’s most content, says Bhagwat E x p r e s s N e w s Se r v i c e @ New Delhi MUSLIMS face hostilities in many countries but they are most content in India because it is a much safer place, RSS chief Mohan Bhagwat said. “The most content Muslims are only in India,” he said during an interview to a Hindi magazine on Friday. Bhagwat said people from all faiths have stood together whenever it has been about the essence of India. He noted that many Muslims fought in Mewar king Maharana Pratap’s army against Mughal emperor Akbar, adding that India’s history is replete with such stories that show people from all faiths stood together whenever there was an attack on the country’s culture. He also said any kind of bigotry and separatism are spread only by those whose self-interest gets affected. He noted that unlike India, Pakistan did not give rights to followers of other religions. express read Ex-cricketer Suresh Kumar found dead Kochi: Former cricketer M Suresh Kumar, 47, was found dead at his house in Alappuzha on Friday. Police said he was found hanging from the ceiling of his residence at Pazhaveedu around 7.30pm on Friday. A regular in the Ranji Trophy, Suresh was instrumental in Kerala’s first-ever victory over a star-studded Tamil Nadu in the early 90s. P5 World Food Programme wins Nobel Niamey (Niger): The World Food Programme won the Nobel Peace Prize on Friday for its efforts to combat hunger in regions facing conflict and hardship during the coronavirus pandemic P9 Bhima Koregaon: Chargesheet filed against 8 activists over Maoist links No Bail for Bhagyalakshmi, co-accused in YouTuber assault case Rejecting the petitions filed by the dubbing artist and two other activists, the Additional Sessions Court upheld that granting anticipatory bail to the accused will convey a wrong message and encourage others to take the law into their hands | P5 E x p r e s s N e w s Se r v i c e @ Mumbai/New Delhi The National Investigation Agency (NIA) on Friday filed a second supplementary chargesheet in the Bhima Kore g aon-Elg ar Parishad case against eight persons, including 83-year-old Jesuit priest Father Stan Swamy, who was arrested Thursday evening. The 10,000-page chargesheet filed in a Mumbai court also names Delhi University associate professor Hany Babu, Goa Institute of Management professor Anand Teltumbde, activists Gautam Navlakha and Milind Teltumbde and members of cultural group Kabir Kala Manch — Jyoti Jagtap, Sagar Gorkhe and Ramesh Gaichor. All eight activists have been charged with waging war against the country, conspiring with other accused to further the Maoist ideology, encouraging lawless activities and criminal conspiracy under various sections of the Indian Penal Code and the Unlawful Activities (Prevention) Act. “Systematic network of Maoists” was operating for “supply of arms and ammunition... to carry out urban revolution”. Their funding activities also came to the fore NIA chargesheet Vellappally unhappy Open varsity VC: SNDP at odds with govt E x p r e s s N e w s Se r v i c e @ Kollam/T’Puram PERHAPS in an indication of a change in the SNDP’s relationship with the ruling Left front and Chief Minister Pinarayi Vijayan, Yogam general secretary Vellappally Natesan on Friday lambasted the government for “sidelining the Ezhava community” at the inaugural function of Sree Narayana G u r u O p e n U n ive r s i t y (SNGOU). The outburst by Natesan, who was elected the secretary of the SN Trust for the ninth Vellappally Natesan straight time on Thursday, comes after a long period of cordiality between the SNDP and LDF government. “This government has repeated the practice of ousting the backward classes from power,” Natesan said at a news conference here. He also pointed out that the government turned the entire inaugural function of SNGOU into a political event. Not even a single SNDP office-bearer was invited to the ceremony he said. , What seemed to have annoyed Natesan is the cabinet decision on Wednesday to appoint Mubarak Pasha as SNGOU’s first vice-chancellor. Pasha, a former director of Calicut University’s distance education wing, is the head of governance and strategic planning at Oman-based National University of Science and Tech● More on P4 nology . Looking at the (vicechancellor) appointment through the frame of caste and religion would be contradictory to the ideals propagated by Sree Narayana Guru Kodiyeri Balakrishnan Temple priest burnt alive in Rajasthan E x p r e s s N e w s Se r v i c e @ Kochi Worst phase for economy over, FY21 contraction to be 9.5%: RBI A priest in Rajasthan’s Karauli district died after being set afire by a group of six men over a land dispute, giving the BJP, which is under fire over the Hathras gang-rape and murder in Uttar Pradesh, a handle to attack the Congress. Before he died, priest Babu Lal Vaishnav told the police the culprits doused him in petrol and set him ablaze. The incident took place at Bunka villa g e in Sapotra on Wednesday The priest was . rushed to Jaipur’s SMS Hospital where he died on Thursday night. A case of murder has been registered and the main accused, Kailash Meena, has been arrested. T he police said the priest had about 15 bighas belonging to the Radha Krishna Temple Trust in the village that was given to him for livelihood. A dispute arose as Vaishnav wanted to build a house on a plot close to his land, but the accused claimed they owned the land and the village elders ruled in the priest’s favour. THE Customs grilled M Sivasankar, former principal secretary to the CM, on Friday in connection with the probe into the import of dates through diplomatic cargo in 2017 by evading Customs duty. He reached the Customs office here around 10.30am and the interrogation continued till 10pm. Even though Sivasankar was summoned in the case related to arrival of dates via the diplomatic channel, the Customs Commissionerate (Preventive) also asked him about facts related to the gold smuggling case. Sources said his interrogation will continue on Saturday Spec. ulation is that Customs may proceed with his arrest in the gold smuggling case soon, but the officials are tight-lipped about their next move. In May 2017, the UAE Consulate had imported 17 tonnes of high-quality dates gifted by the UAE President Sheikh Khalifa bin Zayed Al Nahyan to India to bolster ties between the two countries. The Social Justice Department had later distributed the dates among children of various homes, BUDS rehabilitation cen- M Sivasankar comes out of the Customs office after interrogation | A Sanesh ‘ED will move court if Swapna gets bail’ Kochi: Additional Solicitor General (ASG) S V Raju on Friday told a special court that in the event of gold smuggling accused Swapna Suresh getting statutory bail in the case registered by the Enforcement Directorate (ED) against her, the agency will move the special court seeking its cancellation. P4 Life Mission scam: CBI presents case diary in High Court | P4 tres, BUDS schools and special schools in the state. Chief Minister Pinarayi Vijayan and UAE Consul-General Jamal Hussain Al Sabi had jointly launched the distribution drive at a function at Thiruvananthapuram in which gold smuggling accused Swapna Suresh was also present in her capacity as then secretary to the consul-general. ● More on P4 Ra j e s h A s nan i @ Jaipur
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