Donald 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. 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. KoCHI l Saturday l October 10, 2020 l `7.00 l PAGES 16 l LATE city EDITION 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 FY21 contraction 9.5%, possible economic revival next year: RBI GDP growth in FY22 projected at 10%, but second Covid wave could dampen forecast 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 coronavir us outbreak — s h ow s I n d i a ’s re a l G D P 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 7.211.6% in FY22. The big cheese is, regard- less 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 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 rebound remains. With agriculture outlook remaining robust, it’s expected to boost rural demand and consumption may go up in Q3. CONTINUED ON: P10 Import of dates: Customs grills Sivasankar for 12 hrs E x p r e s s N e w s Se r v i c e @ Kochi 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. Though Sivasankar was summoned in the case related to arrival of dates via the diplomatic channel, the Customs Commis- Temple priest burnt alive in Rajasthan M Sivasankar comes out of the Customs office after interrogation | A Sanesh Bhima Koregaon: 83-yr-old among eight more activists charged over Maoist links Ra j e s h A s nan i @ Jaipur 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 gangrape 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 village 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. sionerate (Preventive)also asked him about facts related to the gold smuggling case. Sources said his interrogation will continue on Saturday Specula. tion is rife 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 UAE President Sheikh Khalifa bin Zayed Al Nahyan to India to bolster ties between the two 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 gaon-Elgar Parishad case against eight persons, including 83-yearold 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 profess o r A n a n d Te l t u m b d e, 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. B a r r i n g M i l i n d Te l tumbde, who is absconding, all other accused are in jail. Stan Swamy, the 16th person to be arrested in the case, was remanded in judicial custody till October 23 by a special NIA court in Mumbai on Friday. countries. The Social Justice Department had later distributed the dates among children of various homes, BUDS rehabilitation centres, 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 in Thiruvananthapuram in which gold smuggling accused Swapna Suresh was also present in her capacity as then secretary to the consul-general. ● More on P4 Open university VC: SNDP at odds with govt E x p r e s s N e w s Se r v i c e @ Kollam 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 Guru Open University (SNGOU). The outburst by Natesan, who was elected the secretary of the SN Trust for the ninth 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 pow● More on P4 er,” Natesan said. express read Former cricketer Suresh Kumar found hanging 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. He was a regular in the Ranji Trophy tournament. P5 Food programme wins Nobel Prize 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 ‘Indian Muslims the most content’ 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 during an interview to a Hindi magazine on Friday. 16 pages, including 4 pages of KOCHI Express
Express Network Private Limited publishes thirty three E-paper editions of The New Indian Express newspaper , thirty two E-paper editions of Dinamani, one E-paper edition of The Morning Standard, one E-paper edition of Malayalam Vaarika magazine and one E-paper edition of the Indulge - The Morning Standard, Kolkatta.