分类： bharat

India’s economy has the resilience to overcome the current slowdown and return to high growth trajectory, said Prime Minister Narendra Modi. He reassured investors about their long-term bets on Asia’s third-biggest economy.
“India has witnessed such ups and downs previously as well,” Modi told business leaders in New Delhi. “And each time, we have emerged even stronger. That’s why even now India will forge its path ahead with firmer determination and confidence.”

The country’s economy grew five percent year-on-year between April and June, its weakest pace since 2013, as consumer demand and government spending slowed amid global trade conflicts. This prompted a number of rate cuts by the central bank, with the government introducing several measures (including a sharp cut in corporate taxes) to boost growth.

According to Modi, his government wants to formalize and modernize the country’s economy. A massive amount of money will be spent in the coming years on building infrastructure and rural economy, he said, explaining that will help to achieve the ambitious $5 trillion target by 2024.

Goldman Sachs projected this month that the Indian economy will rebound in 2020 as global conditions are set to improve. It also said that growth will fall to 5.1 percent this year from roughly seven percent annually in 2017 and 2018.

India’s Energy Minister Dharmendra Pradhan said that his country will surpass China and become the world’s fastest growing market for energy by 2030.
“We are on our way to become the world’s largest energy consumer,” the minister said, noting that India plans to use a combination of conventional fuel and sustainable fuels to create a “balanced energy mix.”

India will also explore the use of other sustainable sources of energy, such as hydrogen, Pradhan said.

The energy and steel sectors will play important roles in driving India on the path of becoming a $5-trillion economy, the minister added on Twitter.

India aims to move to a gas-based economy and looks to invest around $100 billion in energy infrastructure, including renewables, he said.

Economic and energy demand growth in India – which relies on oil imports for more than 80 percent of its oil consumption – and China are the two key drivers of the demand outlook for oil and consequently, for oil prices.

In recent months, India has seen its oil demand growth faltering amid an economic growth slowdown that has now continued for sixth consecutive quarters. If India’s economic growth picks up in the coming quarters amid brighter economic climate around the world, India’s oil demand growth would also pick up pace and increase overall global demand growth.

Last year, India’s oil consumption grew by 5.3 percent year on year and surpassed 5 million barrels per day (bpd), according to the BP Statistical Review 2019.

A police constable in Firozabad, Uttar Pradesh, swept by violent protests against a citizenship law, said he narrowly escaped certain death after a bullet passed through his bulletproof vest but was stopped by a coin.
Vijender Kumar, 24, has been celebrating his “second life” after he was shot in the chest as protests against the citizenship law descended into violent clashes in the city of Firozabad on Friday.
Protesters reportedly set at least six vehicles on fire, including police cars, while hurling stones at the officers, who responded with tear gas. One person was killed in the showdown, and two police officers, including Kumar, suffered bullet wounds. Twenty-five civilians were taken to the hospital, predominantly with injuries resulting from stone-pelting and about 30 police officers were hurt, according to police.

Kumar said he was hit by a bullet after police, put on the defensive by the demonstrators, moved in to disperse the rally.

“Amid heavy stone-pelting and firing, I had to chase the violent mob. The bullet escaped my heart by a whisker”

While the officer was wearing protective body armor at the time, the vest failed to stop the live fire he said was coming from the protesters’ side.

“Though the vest failed to protect me, my wallet, in which I had kept a picture of Lord Shiva and a few coins, saved me. It’s my second life and I’m thankful to God.”

Protests over the Citizenship Amendment Act (CAA), which New Delhi says is aimed at the protection of persecuted minorities, have been marred by widespread violence, with opponents slamming the legislation as discriminatory towards Muslims. The unrest has reportedly claimed 22 lives across the country, including 15 in Uttar Pradesh.