Crime/Disaster/Accident
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Bihar DGP claims crime rate lesser than previous DGP's term
Patna, Jan 17 (IANS) Facing criticism over the deteriorating law and order situation in Bihar, state DGP S.K. Singhal claimed that the situation now is better than during previous DGP Gupteshwar Pandey's tenure.
Singhal took charge as Bihar DGP on September 22 after previous DGP Pandey took VRS to contest the Bihar Assembly election. However, he did not contest elections after the Janata Dal (United) denied a ticket to him.
"I have taken over charge as DGP in September. When you compare the crime graph of October 2020 with October 2019 and during the tenure of same period of other months with previous year, the crime graph is lower," Singhal said.
"Why would you not point out crime data of 2019 when the department had registered a higher number of criminal cases?" Singhal asked the media.
Singhal has been facing the heat ever since Chief Minister Nitish Kumar publicly contacted him over phone and directed him to respond to media queries. The Chief Minister has received complaints about the current state DGP and other police officials refusing to face the public.
Opposition leaders such as RJD's Tejashwi Yadav, Bihar Congress chief Madan Mohan Jha, Jan Adhikar Party (Loktantrik) leader Pappu Yadav and others pointed to the monopoly of bureaucrats in their respective departments, alleging they ignored common people and did not even answer the phones of public representatives as well.
The Bihar DGP pointed out the total cognisable crime cases till October 2020 are 2,14,968 which is lesser than 2019 when the department had registered 2,27,604 cognisable crimes during the same period.
Heinous crimes like murders are still higher in 2020 as compared to 2019.
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Julius Baer upgrades India, fastest growing major economy
New Delhi, March 6 (IANS) Singapore-based fund house, Bank Julius Baer, has upgraded India to overweight as it will be the fastest growing major economy in 2021.
"We change our stance on India from market-weight to overweight and see 15% upside from current levels with a Sensex price target of 58,450," it said in a note.
"An economic recovery is underway, and we look for 9% y/y GDP growth this year, followed by 7% next year. We look for earnings per share to grow on average over 25% over the next 3 years. It would be unprecedented for the stock market to fall in an environment of such strong growth," it added.
Scientists think "herd immunity" has been achieved in large parts of the country, which would explain why daily new cases have fallen from almost 100,000 in September to less than 15,000 presently.
Lockdowns are imposed still in specific areas that experience Covid outbreaks, but high frequency data shows that has not stopped a continuous recovery following the nation-wide lockdown from March to July of last year. For example, anonymized data gathered shows the mobility of people using Android-based smartphones is almost back to pre-Covid levels, it added.
An Initial Public Offering of LIC, India's largest insurer with $464 billion in assets, is planned for the second half of FY2022. The divestment of this company in particular will enable the government to manage its fiscal position.
The budget has set up a special purpose vehicle to sell the idle/non-core assets (especially land) of SOEs. Much of the idle land is well-situated and could be made productive, benefiting economic growth. Divestment of LIC and BPCL remains the key to meet the fiscal deficit target without compromising spending in FY22E, the research said.
With only the brief exception at the bottom of the Global Financial Crisis, in recent history India's stock market has always traded at a premium to its emerging market counterparts. The current premium of 40% is around the long-term average, it added
--IANS
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