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- Last Updated: May 13, 2020, 7:02 AM IST
Today’s Top Stories
PM Modi announces Rs 20 lakh crore package to restart economy, lockdown 4 rules to be entirely different
Prime Minister Narendra Modi on Tuesday announced a special economic package worth Rs 20 lakh core for what he called “Atma-Nirbhar Bharat Abhiyan” or mission self-reliant India, to help the nation cope with the impact of coronavirus and the lockdown on large parts of the economy. The sum will include the earlier financial relief declared by Finance Minister Nirmala Sitharaman worth Rs 1.17 lakh crore and the monetary easing announced by the RBI. The economic package, he said, constitutes close to 10 per cent of India’s GDP.
On lockdown: Modi also said that the nationwide lockdown will be extended further, but said that ‘lockdown 4’ will be entirely different to the current one and the new rules and guidelines will be released before May 18. He listed growing a new economy, creating a state-of-the-art infrastructure, setting up a technology-based delivery system, leveraging the young demography and exploiting domestic demand as necessary.
In Other News
Death toll: The death toll due to COVID-19 rose to 2,293 and the number of cases climbed to 70,756 in the country on Tuesday, registering an increase of 87 fatalities and 3,604 cases in the last 24 hours since Monday 8 am, according to the Union health ministry.
Vande Bharat mission: The government will begin the second round of the process to bring back Indians stranded abroad, or the Vande Bharat mission, between May 16 to May 22, sources said. A total of 149 flights, including feeder flights, will be deployed to evacuate Indians stuck in 31 countries.
Election cancelled: The Gujarat High Court declared state BJP minister Bhupendrasinh Chudasama’s election in 2017 as void on grounds of malpractice and manipulation. The Court cancelled his election in an order passed on an petition filed by Congress candidate Ashwin Rathod, challenging the BJP leader’s victory from Dholka constituency by a margin of 327 votes.
Selling remdesivir: India’s Jubilant Life Sciences has signed a non-exclusive licensing agreement for selling Gilead Sciences Inc’s experimental COVID-19 treatment remdesivir in 127 countries, including India, it said. Gilead had earlier announced of being in stages of discussion with many drug makers to produce its remdesivir by 2022.
Off stock exchange: Vedanta Resources Limited confirmed that it would delist its Indian Unit Vedanta Ltd from all stock exchanges and was willing to accept shares tendered in the offer at Rs 87.5 per equity share, a premium of 9.9% on Monday’s closing stock price, but a discount of 1.7% over Tuesday’s closing.
On Our Specials
Tracing a pandemic: The biggest pandemic of the last century, the Spanish Flu, interestingly did not conform to the age-wise mortality patterns registered during other epidemics and pandemics. Sumit Pande writes that epidemiological research on the 1918 Spanish flu illustrates the microbe which killed over 50 million people at the end of the World War I was most virulent when the victims were in the prime of their youth.
Sikkim showdown: Like some of the previous episodes, the face-off between Indian and Chinese soldiers along the Sino-Indian boundary in Sikkim doesn’t appear to be a coincidence. In all likelihood, these incidents are planned days in advance at a higher level in China which are then translated into action by the army along the Line of Actual Control (LAC). Rajeev Bhattacharyya writes that the showdown in Sikkim came on the heels of a slew of decisions by the Indian government which certainly did not enthuse Beijing.
The Carbon Brief report estimates that CO2 emissions will fall by 30% in April. The report revealed that decline in consumption of coal and oil had started since early 2019. Watch to know more.