chennai l saturday l june 05, 2021 l `7.00 l PAGES 18 l late city EDITION BIDEN TAKES tRUMP Legacy FORWARD, TARGETS cHINA Satellite firms, ic chip makers On blacklist US President on Thursday issued an executive order prohibiting Americans from investing in as many as 59 Chinese companies Stakeholders have one year to divest On the blacklist are manufacturers of integrated circuits, optical components, satellite communications equipment and software. These firms are suspected to have close ties with the Chinese military or are providing surveillance services, such as face-recognition technology. The aim is to prevent such companies from accessing US capital ■ ■ ■ American investors already holding shares in the 59 prohibited companies have one year to offload their stake US firms have also been prohibited from transferring technology to Chinese companies without permission from the government There were 44 Chinese firms on the blacklist under Trump regime August 2 Day President Biden’s executive order will come into effect 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 RBI cuts growth projections, pauses rates ‘ALL RUMOURS’ No place in AIADMK for Sasikala and family: EPS TN lockdown may be extended for another week aid economic recovery he ad, mitted there were risks to the growth. The central bank was also mindful of the inflation, which it estimates to be at a moderate 5.1% for FY22 despite the recent rise in commodity prices, which the monetary policy committee feels is driven by supply-side constraints. Announcing a slew of liquidity measures, Das said RBI’s focus is now shifting to equitable distribution of liquidity . P12 ‘3rd wave will peak early if Covid code is ignored’ Ongoing 2nd Covid wave derails central bank’s estimates for revival of economy e x p r ess ne w s se r v i c e @ Chennai AIADMK leader Edappadi K Palaniswami on Friday asserted that there would be no room for VK Sasikala, onetime aid of former chief minister J Jayalalithaa, and her family members in the party and that , some elements were trying to create confusion by releasing her audio recordings (about her returning to politics). He also denied any difference of opinion with AIADMK coordinator O Panneerselvam, claiming that it was a rumour being spread by the media. Answering queries of reporters after holding discussions with party secretaries of nine districts in Chennai, Palaniswami s a i d , “A l ready Sasika, la had declared that she left active politics. To create confusion, some elements are spreading wrong information now. But these attempts will not succeed. All office-bearers of the AIADMK are firm that there is no place for that family in our party We . won many seats in the Assembly elections after declaring our firm stand on this issue.” Asked why Panneerselvam was absent during the discussions, Palaniswami said with a smile, “He was engaged with his house warming ceremony today. Whereas, I visited the party headquarters today as it , is an auspicious day .” On the rumours that there was a cold war brewing between himself and Panneerselvam and only owing to this, both leaders were releasing separate statements on various issues, Palaniswami clarified, “I have been responding to charges regarding the former AIADMK government while Panneerselvam is issuing statements on general issues. There is no difference of opinion among us.” P5 s E S A s E N @ New Delhi an explicitly dovish-toned RBI on Friday chose to keep interest rates unchanged as it lowered GDP growth projection for the current financial year to 9.5%, dashing hopes of a double-digit economic growth. The downward revision highlights the economy-wide stress. Even as RBI Governor Shaktikanta Das was convinced a normal monsoon and business resilience can @ New Delhi In what is expected to further ease the supply of raw materials to vaccine manufacturers in India, the United States has decided to lift the Defense Production Act (DPA) ratings on three Covid vaccines — AstraZeneca, Novavax and Sanofi. AstraZeneca and Novavax are being manufactured by the Serum Institute of India (SII). “While the manufacturers will continue to make these three vaccines, this action will allow US-based companies that @ Chennai The complete lockdown under way is likely to be extended for one more week in the State with some relaxations for the districts, where Covid cases have dipped considerably, and more restrictions for the districts, where the infection rate is still high. Chief Minister MK Stalin on Friday chaired a high-level meeting at the Secretariat and reviewed the progress of Covid mitigation measures. Chief Secretary V Irai Anbu, Secretaries of key departments and top police officials took part in the deliberations. Sources said that the Chief Minister would be announcing the lockdown extension officially on Saturday. @ New Delhi RBI has lowered the growth estimate for 2021-22 from 10.5% forecast earlier to 9.5% as “sudden rise in Covid-19 infections and fatalities has impaired the nascent recovery that was underway”. According to RBI’s revised estimates, Q1 growth is now pegged at 18.5% against 26.2% projected earlier. Q2 growth was lowered marginally to 7.9% from 8.3% good monsoon to temper Inflation “A normal south-west monsoon along with comfortable buffer stocks should help to keep cereal price pressures in check,” Das said. However, rising commodity prices, especially crude, together with logistics costs could pose serious challenges to the outlook. Das pegged quarter-wise inflation projections for FY22 at 5.2% in Q1; 5.4% in Q2; 4.7% in Q3; and, 5.3% in Q4, with risks broadly balanced poke me not! A medic collects swab sample of an infant for Covid-19 test, at a hospital at Nerul in Navi Mumbai on Friday | PTI NATIONWIDE Fresh cases Recoveries Deaths pOLICY RATES KEPT AT RECORD LOW The six-member Monetary policy committee decided to keep repo rate (at which banks borrow from RBI), unchanged at a record low of 4% and the reverse repo rate (at which RBI borrows from banks) at 3.35%. RBI had slashed the repo rate by 115 bps since March 2020, to soften the blow from the pandemic. It was last revised in an off-cycle policy review in May Targeted regulatory measures june 3 june 4 1,34,154 1,32,364 2,11,499 2,07,071 2,887 2,713 June 3 26,24,971 doses June 4 33,57,713 doses Total doses: 22,75,67,873 Jab-o-meter Take your shot express read Serum Inst gets nod to manufacture Sputnik V New Delhi: The DCGI has granted permission to Pune-based Serum Institute to manufacture Sputnik V in India subject to certain conditions, official sources said on Friday. The company had submitted an application to the DCGI in this regard on Thursday RBI introduced a liquidity window of `15,000 crore for contact-intensive sectors such as hotels & restaurants, transport, tourism, event management companies and beauty salons that have been disproportionately targeted in the latest round of lockdowns. The window is available till March 2022. RBI has also enhanced the threshold exposure for availing its restructuring programme for small businesses and loans to individuals for business from `25 crore to `50 crore Covid claims first animal life in India at Vandalur Zoo `1.2 lakh crore Bond buying S V K R I S H N A C H A I TA N YA @ Chennai RBI has announced the second phase government bond-buying scheme – G-SAP 2.0 – under which it will buy `1.2 lakh crore worth of bonds in July-September supply these vaccine manufacturers to make their own decisions on which orders to fulfill first,” White House Covid-19 response coordinator Jeff Zients said. All three vaccines are yet to be approved for use in the US. The DPA gives the US president powers to allocate materials, services, and facilities and award contracts that are prioritised over others to promote national defence. Former President Donald Trump had invoked the Act last February saying it will be used to protect America from coronavirus. The law prevents companies from exporting certain goods to keep them within the US. By invoking the DPA, export of raw materials for vaccine manufacture was curtailed or banned from the US. Of the 350-odd ingredients used for vaccine manufacturing, the US is the source for around 70% of them. The issue of the DPA bar was first flagged by SII’s Adar Poonawalla, which created an uproar, forcing the Biden administration to partially lift it. The Arignar Anna Zoological Park, popularly known as Vandalur Zoo, has reported India’s first animal death due to Covid. Nine-year-old Asiatic lioness Neela succumbed to the infection on Thursday evening. She was asymptomatic. until a day before her death and medical records showed no sign of comorbidities. Eight more lions have tested positive for the infection. Among them, the health condition of two lionesses – Kavitha (23) and Bhuvana (19) – is said to be critical. The zoo officials said that the number of cases may go up as more samples are being sent for testing. This may probably be the largest Covid cluster in a zoo in the world. Neela’s death has rekindled fears of backward transmission (humans to animals), which experts say may lead to reverse anthroponosis of novel strains. This may render current Covid vaccines less effective. The virus may spill back and forth between humans and animals, thus forming a vicious loop with prolonged spread, and continuing medical combat with evolved viral strains. P5 `43K-cr project to build 6 conventional subs gets nod M AYA N K S I N G H @ New Delhi In one of the largest Make in India projects in the naval sector, the Defence Acquisition Council (DAC) on Friday approved a Request for Proposal (RFP) to build six conventional submarines at an estimated cost of `43,000 crore. The project will be under the strategic partnership model, P 75 (I), which means the whole process will be led by an Indian manufacturer. The submarines will be equipped with the state-of-the-art Air Independent Propulsion system, the defence ministry said. The DAC was chaired by Defence Minister Rajnath Singh. On January 21 last year, two domestic shipyard companies — state owned Mazagon Dock Shipbuilders Ltd (MDL) and private sector firm Larsen & Toubro (L&T) — were identified as strategic partners for the P 75 (I) programme. These two strategic partners will now get the RFP in about a month and do the legwork, including scouting for global Original Equipment Manufacturers (OEMs) to provide various systems. They The complete lockdown with intensive restrictions had begun on May 24. Even grocery, vegetable and meat shops were closed during this period to avoid movement of people. The government, however, made all arrangements for supply of vegetables and fruits to agriculture and horticulture departments, and further to the doorsteps of the public. E XPR E S S N E W S S E RV I C E FY22 GDP GROWTH LOWERED TO 9.5% Adv SII as US raw material bar off E x p r ess N e w s S e r v i c e e x p r ess ne w s se r v i c e will submit their project reports in three months, after which their technical evaluation will be done and one shipbuilder picked. Contract signing can happen by 2022-end assuming the project is on the fast track. The chosen company will then begin building infrastructure with Central funds. The selected OEMs will transfer technology and train personnel, after which manufacturing will begin. It’s a 30-year project and its first submarine ought to be ready in about 10 years. “It will be a strategic shift in overall capability building towards manufacturing of complex systems,” an officer said. The DAC also approved Army’s `6,000 crore plan to procure air defence guns and ammo under the Buy & Make (Indian) category . Chances of a third wave of the coronavirus pandemic are pretty high and the next phase could turn out to be as bad as the current wave if people let their guard down, a top official warned on Friday . Talking to reporters during a press briefing by the health ministry on Friday, Dr V K Paul, member (health), Niti Aayog, underlined that the pandemic situation had improved not because of the virus behaviour but because of the measures taken to curb its spread. “If we again start doing what we were doing as a society in December 2020 and January 2021, the situation can again go into a difficult phase,” added Paul, who also heads the country’s national Covid task force. The more people neglect following Covid-appropriate behaviour, the more intense will be the next wave, he warned. “But if we proceed slowly and continue the tightrope walk, the wave will be small… Maybe, there will be no waves at all,” he noted. Dr Paul, however, insisted High-level meeting Chief Minister MK Stalin on Friday chaired a high-level meeting at the Secretariat and reviewed progress of Covid mitigation measures. tamil nadu Fresh cases Recoveries Deaths june 3 24,405 32,221 460 june 4 22,651 33,646 463 that improvement in the pandemic situation will not happen automatically . “There are no crowds... a price that we pay but we have made it difficult for the virus to travel. We have to remember that when the peak is declining, if we start doing what we were doing in January, it will Ready for worst-case scenarios, says govt The Central government is prepared for the worst-case scenario and guidelines on upgrading medical infrastructure for kids will soon be shared with states, Dr Paul said come back again. This is mathematically valid and also valid by c o m m o n s e n s e, ” h e stressed. Many experts have said that while a third wave of the pandemic is a real threat and is very likely to occur given the large number of people susceptible to the virus, it is difficult to predict its timing and intensity .
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