Economy contracts by record 7.3% in 2020-21
The Indian economy rose by 1.6% in the January to March quarter (Q4 FY21) from the previous year but contracted 7.3 percent for the entire fiscal year. These are the worst numbers in more than 40 years.
As predicted by the experts, the Indian economy expanded in Q4 of FY21. The economy also saw growth in Q3 after contracting in the first two quarters of the financial years.
Source- Business Today
West Bengal Chief Secretary Alapan Bandyopadhyay retires from service- will serve Mamata as her chief advisor
West Bengal CM Mamta Banerjee announced the state’s Chief Secretary Alapan Bandyopadhyay’s retirement while adding him as her chief advisor for a tenure of 3 years. Moreover, H.K. Dwivedi has been declared as Bandhopadhyay’s successor as the new state chief secretary.
This is a result of a tug of war between CM Banerjee and PM Modi, with Bandhopadhyay in the midst of it.
Earlier on May 24, the Centre had approved a proposal by the state to extend Bandyopadhyay’s tenure by three months till August 31. Before getting the extension, the Bengal chief secretary was scheduled to retire on May 31.
Source- Indian Express
'Project of national importance': Delhi High Court junks plea to halt Central Vista
On Monday, the Delhi High Court dismissed a plea seeking to halt construction work at Central Vista Avenue in the national capital, saying it was a motivated petition. The court said the project is of national importance.
The high court said the Public Interest Litigation or PIL was not genuine and also imposed a fine of ₹1 lakh on the petitioners citing lack of bonafide on their side.
The bench said that the Supreme Court has already upheld clearance to the project. There is no question of suspending the work since the workers are residing at the construction site, the bench said, adding that the work on the project has to be completed in a time-bound manner.
Source- Hindustan times
Revised PF rules to allow EPFO members to withdraw advance citing COVID-19
In its latest update, Retirement fund body EPFO, given the devastating second coronavirus wave, has issued a statement that permits its subscribers to withdraw their second non-refundable COVID-19 advance. This is the second time the Employees' Provident Fund Organisation (EPFO) has let its members avail an advance to meet urgent demands in this pandemic, with the first time being during the last year’s first wave.
The members are allowed to withdraw three months' basic wages (basic pay + dearness allowance) or up to 75 percent of the amount standing to their credit in their provident fund account, whichever is less.
Source- Money Control
As births decline, China allows couples to have a third child
In light of the recent birth rate decline in China, the country has allowed its couples to have a third child, relaxing their “two-child policy” for the first time in hopes of boosting their birth rates.
This policy change has come up after the country’s recent population census, which showed an alarming decline in the birth rate. According to the National Bureau of Statistics, on May 11 last year, 12 million babies were born, which is the lowest number since 1961 - a time when Mao’s China was in the midst of a four-year famine. In 2016, the same birth rate was 17.86 million in 2016.
Source- The Hindu
India's new vaccine plan to study mixing doses
As governments across the world struggle to meet vaccination demands for their population, studies on mixing up vaccines show promising results. Even with multiple vaccines being available in the market globally, there still are major logistical problems faced due to the challenge of successfully vaccinating the world’s nearly 8 billion population right now.
To tackle this supply crunch, especially for the second dose, researchers have started exploring the possibility of mixing and matching various vaccines. This hopes to overcome some of the distribution barriers in the process, making it much faster to reach everyone, and also hopes to do a better job at protecting against the virus than sticking to the same jab for both doses.
Source- NDTV
Kerala Assembly passes resolution seeking recall of Lakshadweep administrator
On Monday, the Kerala Legislative Assembly unanimously passed a resolution to call back Lakshadweep’s administrator Praful Khoda Patel and withdraw all the controversial orders issued by him.
The house showed their solidarity with the union territory where people were protesting against the administrator’s policies and expressed that immediate action should be taken on behalf of their culture and livelihood.
This is the first resolution passed by CM Pinarayi Vijayan after coming to power for the second time in the legislative assembly.
Source- The Hindu
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