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Eco/Invest/Demography

IMF cuts Asia’s growth forecast, warns of pandemic-driven risks

India’s economy is likely to shrink 10.3% this year in stark contrast to China, which is set to expand 1.9%, the IMF said.

Asia’s economy is likely to grow 6.9% in 2021 thanks to the boost from expected stronger recoveries in China, the United States and the euro area, it said.

But the IMF said there were “considerable” risks such as the chance of a second wave of infections, escalating U.S. tensions and a potential return to tighter financial conditions.

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Digital health ID not mandatory for accessing COVID vaccine: Health Ministry

The Health Secretary”s remarks came a day after Prime Minister Narendra Modi said India is working on putting a robust vaccine delivery system in place and its digitized network, along with the new digital health ID, will be used to ensure its success. The PM was speaking at the Grand Challenges Annual Meeting on Monday.
“The NDHM, as it exists today, does not make a digital ID or health ID mandatory to receive service under the digital ecosystem that NDHM is creating. To say it would become mandatory for vaccination and those who do not have health ID”s would be deprived is probably not the right interpretation,” Union Health Secretary Rajesh Bhushan said at a press conference.  

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Insurance claims related to COVID-19 treatment rise in Septembe

Based on its analysis of industry data, insurance aggregator Policybazaar.com said “most people filing the claim for COVID-19 treatment are senior citizens of age group 60 years and more, followed by people in the age bracket of 41-45 years”.

In September, the insurance aggregator said COVID-19-related claims accounted for 40 per cent of the total health insurance claims. It has been steadily increasing from 8 per cent in May. In July and August, it stood at 23 per cent and 34 per cent, respectively.

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Battery fires put BMW and Ford on back foot just as electric vehicles take off

While EVs don’t invoke the same instinctual distrust as self-driving cars or flying taxis might, they do require a leap of faith for some consumers. A younger, tech-savvier population is one reason why China is the world’s biggest EV market, Jato Dynamics analysts said in a report earlier this week, with consumers in Europe and the US more likely to stick with what they know.Chemical Cocktail

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