Dr. Shah said there was a lot of frantic testing being carried out, and many general physicians were prescribing the tests. “We have tried to stop that. We are essentially focussing on testing those with symptoms. The high risk contacts are being tested too, within five to 10 days of contact, or earlier if they develop symptoms,” she said. … [Read more...] about Backlog effect: Mumbai’s recovered cases jump from 8,650 to 16,008
Hope he recovers quickly
SHANGHAI: China stocks edged up on Friday to end the week higher, as expectations that Beijing would take necessary measures to underpin the world's second-largest economy overshadowed concerns over escalating Sino-U.S. tensions. At the close, the Shanghai Composite index was up 0.22% at 2,852.35, while the blue-chip CSI300 index was up 0.27%. For the week, SSEC and CSI300 gained 1.4% and 1.1%, respectively. China has room to stimulate an economy trying to recover in the wake of the coronavirus pandemic, but the government does not want to open the "floodgates", Premier Li Keqiang said on Thursday at the end of the annual meeting of parliament. "We have reserved policy room. Be it fiscal, finance, or social security," Li said. China's factory activity likely rose for a third straight month in May as the economy recovered from strict lockdowns implemented to contain the coronavirus outbreak, which has hammered global business activity. Leading the gains for the week, the … [Read more...] about China stocks end higher as stimulus hopes offset Sino-US worries
He also praised China's help to others－via the World Health Organization, the African Union and to more than 130 countries－in the face of the pandemic. Such assistance reinforces the image of China as a responsible player in the international community. … [Read more...] about China’s plan for revival offers hope
Even if you lift lockdown, it is not going to revive economic activity immediately because consumption will not revive, so demand will not. Investment will not revive, therefore demand will not revive. Only the government is spending, but it is going to lose massive tax revenue. My estimate is that the economy will not recover to January 2020 levels for several years because we are into a deep depression. It is not going to be a V-shaped recovery, it is going to be a shallow U-shaped recovery. But suppose very optimistically we go back to January 2020 in a year, then the average rate growth from (-)75% to 0% means we will have a (-)37.5% rate of growth of the economy. If the rate of growth is (-)37.5%, Tax to GDP ratio will become half of what it was earlier. It is easy to see why. GST collections largely come from non-essential goods and sin goods, those in 43% bracket, 28% and 18% brackets. Essentials are in zero per cent or five per cent brackets. … [Read more...] about Can India’s workforce have a safe return to business?
On 29 May, the National Statistical Office (NSO) will release GDP data for the quarter ending March 2020. Normally, this data would not have attracted much interest. NSO has already released the second advance estimates of GDP for 2019-20 in February. Real and nominal GDP growth in 2019-20 was projected to be 5% and 7.5% respectively. A quick calculation using the 2019-20 GDP projection and quarterly GDP until December 2019 shows that the March quarter growth should have been 4.7%, same as the December quarter. … [Read more...] about Why Q4 GDP numbers will be crucial