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Predict to India’s GDP to shrink 45% in June quarter

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India’s GDP to shrink 45% in June quarter, predicts Goldman Sachs Goldman Sachs economists Prachi Mishra and Andrew Tilton predicted that India’s Gross Domestic Product (GDP) will contract by an annualised 45 per cent in the second quarter from prior three months or the June quarter. The government’s effort to provide a boost to the coronavirus-hit economy focuses on more on the medium-term rather than offering immediate support, according to a recent note by Goldman Sachs economists. In a May 17 note, Goldman Sachs economists Prachi Mishra and Andrew Tilton predicted that India’s Gross Domestic Product (GDP) will contract by an annualised 45 per cent in the second quarter from prior three months or the June quarter. This is almost double of what the global investment banker had predicted in its earlier forecast for the same period — a 20 per cent slump. Brace for deepest recession In the note, the researches expect a stronger sequential rebound of 20 per cent
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Coronavirus Update:76% of Maharashtra cases from Mumbai; India tally at 96169

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Coronavirus Update:76% of Maharashtra cases from Mumbai; India tally at 96169 India update : With 5,242 new cases, India has recorded its highest single-day jump in its number of total  coronavirus  cases. The country's tally has risen to 96,169. According to the Ministry of Health and Family Welfare, 3,029 people have died from the disease and 36,824 have recovered so far. From today, India enters the fourth phase of its nationwide  lockdown.  Restrictions under Section 144 of CRPC have been extended for the next three months in Chhattisgarh.   District-wise details of the new  lockdown  phase, in force till May 31, will be announced today.  Lockdown  4.0 comes with some relaxations to pave the way for an increased movement of people and to facilitate more economic activity.  Meanwhile, India has backed calls to identify how the Sars-CoV-2 virus that causes Covid-19 was transmitted from animals to humans and conduct an ‘impartial’ evaluation of the World Health Organiza
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CM Yogi Adityanath announces compensation for family of deceased migrants

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Auraiya accident: CM Yogi Adityanath announces compensation for family of deceased migrants Lucknow: Twenty-four migrants were killed and more than 30 were injured when the trucks they were travelling in collided at around 3 am in Uttar Pradesh's Auraiya district, about 200 km from the state's capital Lucknow. This is the latest incident where stranded migrant workers - left jobless due to the coronavirus lockdown - have been killed in an accident, triggering an outpouring of nationwide condolences. Desperate to reach their villages, separate groups of migrants had hitched a ride on two trucks from Rajasthan and Delhi; they were headed to Bihar, Jharkhand, UP and West Bengal, according to the officials. One of the trucks was loaded with goods and labourers were sitting on the sacks when they were thrown off the vehicle due to the impact of the collision. "Some people had got down from one of the trucks that stopped at a dhaba to have tea. That was when the collision
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Uber will require all drivers and riders to wear masks starting Monday

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Uber will require all drivers and riders to wear masks starting Monday The new policy to be effective Monday will require drivers in many markets to use selfie pictures to certify they are wearing masks before going online Uber will allow riders and drivers an option to cancel a booking if the other party is not using a face covering Washington: Uber said Wednesday it was making face masks mandatory for drivers and passengers, as part of new health and safety protocols aiming to instill confidence in the ride-hailing service as people emerge from coronavirus lockdowns. The new policy to be effective Monday will require drivers in many markets to use selfie pictures to certify they are wearing masks before going online, and will allow riders and drivers an option to cancel a booking if the other party is not using a face covering. "As cities begin to reopen and people start moving again, Uber is proceeding with caution and safety top of mind," chief executive Dara
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Coronavirus LIVE: India cases rise to 78,194; global cases at 4,429,883 14/05

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Coronavirus LIVE: India cases rise to 78,194; global cases at 4,429,883 Coronavirus world update : Globally, 4,429,883 people have been infected by coronavirus as of today, and the total number of deaths from the disease now stands at 298,05 Coronavirus India update state-wise: Maharashtra cases at 25,922, Tamil Nadu 9,227, Delhi 7,798. Stay tuned with Business Standard for Covid 19 LIVE updates on corona cases and death toll worldwide Coronavirus India update: India's total number of coronavirus cases has reached 78,194 and 2,551 people have died from the Covid-19 infection so far, according to Worldometer data. Union Finance Minister Nirmala Sitharaman on Wednesday announced stimulus measures to the tune of nearly Rs 5.94 trillion to provide relief to various constituents of the Indian economy. They are micro, small, and medium enterprises (MSMEs), taxpayers, non-banking financial companies (NBFCs), power distribution companies, the real estate sector, organised-sector e
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Chinese coronavirus vaccine could be tested, manufactured in Canada

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Chinese coronavirus vaccine could be tested, manufactured in Canada TORONTO : China’s CanSino Biologics, the company behind one of the few coronavirus vaccine candidates already in clinical trials, is collaborating with Canada’s National Research Council to “pave the way” for future trials in Canada, the research council said on Tuesday. The NRC said it would scale up a production process for CanSino’s vaccine candidate at a government facility in Montreal, and that CanSino was preparing a clinical trial application for Health Canada, the country’s drug regulator. The CanSino vaccine is in early trials, and there is no way to know whether it will work. But if it does, the collaboration could help ensure that Canadians have access to it. Local trial data could reassure Health Canada that the vaccine is safe, and local manufacturing could ensure some doses are at hand. A vaccine that protects people from the coronavirus could eventually end the pandemic, but finding one that w
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The second phase of return of Indians from abroad will start from May 16

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The second phase of return of Indians from abroad will start from May 16, 149 flights will come from 31 countries in 7 days. Today, the sixth day of the first phase, Indians will return in 12 aircraft from 9 countries There is a plan to bring 14 thousand 800 people by May 15 in the first phase of Vande Bharat Mission. The second phase of Vande Bharat, the mission to return the country of Indians trapped abroad due to Corona, will start from May 16. This phase will last for seven days i.e. 22 May. During this time, 149 flights will come from 31 countries. The maximum 13 flights will come from the US. News agency ANI has given this information by quoting sources. The first phase of Vande Bharat Mission started on 7 May. In which countries will Indians be brought from the second phase? US, UAE, Canada, Saudi Arabia, UK, Malaysia, Oman, Kazakhstan, Australia, Ukraine, Qatar, Indonesia, Russia, Philippines, France, Singapore, Ireland, Kyrgyzstan, Kuwait, Japan, Geor
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