bhubaneswar l Saturday l june 05, 2021 l `7.00 l PAGES 12 l late CITY EDITION BIDEN TAKES tRUMP Legacy FORWARD, TARGETS cHINA Satellite firms, ic chip makers On blacklist 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 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 ■ ■ ■ 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 Plus II exams cancelled, CHSE to formulate evaluation criteria 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 liP10 quidity . State to divert surplus Covaxin doses for 18+ age group in Capital City Ongoing 2nd Covid wave derails central bank’s estimates for revival of economy 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 E x p r e s s N e w s Se r v i c e @ Bhubaneswar Chief Minister Naveen Patnaik on Friday directed cancellation of this year’s Plus II examination conducted by the Council of Higher Secondary Education (CHSE) in view of the Covid-19 situation. Stating that the life of students is more important than the examination, the Chief Minister said that all the stakeholders will have to face a lot of problems if the examination is conducted amidst the second wave of the pandemic. The Chief Minister directed the CHSE to formulate a welldefined objective criteria to evaluate the students after thorough consultations with experts. He said that if any student is not E x p r e s s N e w s Se r v i c e @ Bhubaneswar FY22 GDP GROWTH LOWERED TO 9.5% 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 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 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 `1.2 lakh crore Bond buying 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 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 @ 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 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 Caught in a catch-22 situation over slowing down vaccination of 18-44 age group people amidst shortage of doses, the State government is set to divert its surplus Covaxin doses for the segment in Bhubaneswar. Health department sources said the Capital city has a stock of 3.45 lakh doses of Covaxin that were supplied for 45 plus age group by the Centre. Since the segment is already mostly covered in the city the govern, E XPR E SS N E WS S E RVIC E @ New Delhi 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 NATIONWIDE Fresh cases Recoveries Deaths june 3 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. june 4 1,34,154 1,32,364 2,11,499 2,07,071 2,887 2,713 Ready for worst-case scenario, 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 The more people neglect following Covid-appropriate behaviour, the more intense will June 3 Take 26,24,971 doses your June 4 shot 33,57,713 doses Total doses: 22,75,67,873 Jab-o-meter Covid claims more youths in rural Odisha Bhubaneswar: Even as the new cases and fatalities are showing a sign of improvement, the month of May proved to be deadliest as the number of cases detected was close to that of the entire first wave last year. The Covid carnage also claimed twice the number of lives in rural Odisha than urban areas | P2 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. express read Serum Institute 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 | P7 Punjab stops selling vaccines to pvt hospitals amid hue & cry Chandigarh: The Punjab government is caught on the wrong foot on the vaccination front. It bought Covaxin for the 18-plus group through its facilities and then arbitrarily decided to sell a part of those vaccines to private hospitals on the pretext of encouraging the pace of vaccination. It allegedly made a profit of `660 per dose | P7 `43K-cr project to build 6 conventional subs gets nod M AYA N K SI 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 thereafter,” he said, adding that society and civilisation will move forward only if life is protected. He also praised the students, their efforts and patience during such a challenging time. The announcement to cancel the examination was made by the Chief Minister a day after Minister of State for School and Mass Education odisha Fresh cases Recoveries Deaths june 3 8,839 10,434 42 june 4 7,729 11,347 39 ment had requested the Union Ministry of Health and Family Welfare to allow using the surplus stock for covering the 18 plus group on temporary loan basis. “As the Centre has not yet denied permission, we are contemplating to use the stock for the 18-44 age group. The doses can be compensated once the Sameer Dash had a meeting with top officials to discuss all aspects of the issue. Earlier this week, the Central Board of Secondary Education and Council for the Indian School Certificate Examinations had cancelled the Class XII board exams. Several states including Gujarat, Karnataka and Maharashtra have also cancelled Class XII board examinations. State allocation is streamlined,” said a senior health official. The State has a stock of only 2,440 doses of Covaxin (exclusively for Bhubaneswar) and 2,290 doses of Covishield (for all other parts of the State) under its own procurement. Though Bharat Biotech has committed to supply 26,000 doses of Covaxin by June 7 and Serum India will send 2,27,750 doses of Covishield by June 9 for the 18-44 age group, the stock i s u n l i ke ly t o m e e t t h e requirement. CONTINUED ON: P5 ‘3rd wave will peak early if Covid code is ignored’ Adv SII as US raw material bar off E x p r e s s N e w s Se r v i c e satisfied with the evaluation, he/she can appear the examination which will be conducted by the CHSE later after taking the situation into consideration. Naveen said that the decision to cancel the examination was taken keeping in view the greater interest of the students. “Life comes first, other things come 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 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 . 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 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 declin- ing, if we start doing what we were doing in January, it will 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 .
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.