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Indian
There needs to be one price for COVID-19 vaccines across the nation,” Supreme Court questions Central govt on dual policy
“Centre says it gets vaccines at low pricing since it buys in bulk, if this is the rationale then why do states have the higher price? There needs to be one price for the vaccines across the nation. Pandemic has evolved in last two months,” the Court said.
“In this case, if the purpose is to procure vaccines then why should the centre confine itself to only post 45 age people and leave pre 45 age entirely to state for arranging logistics. How do we look at the marginalised and economically weaker ones?” asked the Apex Court.
India’s second COVID-19 wave rattles business confidence – survey
India’s economic growth picks up before huge COVID-19 wave hit
Gross domestic product grew 1.6% in January-March compared with the same period a year earlier, mainly driven by state spending and manufacturing sector growth, data from the statistics ministry showed on Monday.
Economists said the country faces a slowdown in consumer demand as household incomes and jobs have declined, with limited scope for the government to offer growth stimulus due to its rising debt.
Petitions filed in SC seeking contempt of court proceedings against the RBI Governor, others
The respondents, Reserve Bank of India (RBI) Governor, Shaktikant Das, Chief Executive of Indian Banks Association (IBA) were duty-bound to promulgate and ensure the compliance of the order of this court throughout the country but they deliberately didn’t, the petition said.
The Supreme Court’s order, dated September 3, 2020, was operational on all lending institutions/banks throughout the country and was passed in favour of all borrowers accounts to grant relief from financial stress during the COVID-19 pandemic, said the petition.
International
India’s insurance gaps rise, at $27bn it constitutes 1.0% of its GDP :Lloyd’s report
In Lloyd’s Underinsurance Report 2018, underinsurance continues to represent a significant threat to global economic development with an estimated US$163bn of assets underinsured in the world today.While the global gap has closed by almost 3% over the last six years, the gap for Asian countries included in the report has widened by 9.4% to US$134bn. At the same time, the world has seen a series of extreme weather-related catastrophes and new risks such as cyber attacks have emerged, posing additional threats to society.
Insured Losses from Hurricane Michael To Be Between USD $6.8 Billion and $10 Billion:RMS
Michael Young, Vice President of Model Management, RMS, said: “This truly was one of the few hurricanes that have exceeded building-level design wind speeds for the region. Within the tragedy of this event, there are many opportunities to see effective wind and flood mitigation measures and learn how to re-build better and stronger.”
Flexible working may add $376 bn annually to Indian economy by 2030: Study
Nikolaus von Bomhard to become Munich Re chairman
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