Auto sales fall to 19-year low, stir questions on deeper malaise

he auto industry employs over 3.5 crore people directly and indirectly.The quibbleThe auto industry seems to be divided over how serious the problem really is.Maruti Suzuki chairman R.C. Bhargava continued to insist that the crisis was transient and would blow over by the end of the third quarter (October-December)."I don't think there is a major problem in the economy at all. These transient problems will go away in a few months," Bhargava told a television channel.However, Soumitra Bhattacharya, managing director of Bangalore-based auto component maker Bosch, said: "The slowdown is not cyclical but structural."Bhattacharya is one of the first high-level executives to characterise the crisis as "structural" and not "cyclical" - which could spark more than a semantic quibble within corporate boardrooms over the nature of the overall slowdown of the economy at a time when financing flows to the industry has started to slow.The Narendra Modi government has been refusing to acknowledge the seriousness of the problem and has dragged its feet on a stimulus package to revive the faltering economy.Earlier this week, Reserve Bank of India governor Shaktikanta Das also waded into the debate."Our understanding is at this point, it is perhaps a cyclical slowdown, not really a deep structural slowdown," the RBI governor said after the bank's monetary policy committee cut its growth forecast for the economy to 6.9 per cent from 7 per cent earlier.A cyclical slowdown would suggest that matters would improve in a couple of months; a structural problem would require a pump-priming package of measures from the government backed by a raft of steps by the RBI to improve credit flows.Revival packageThe automobile industry has seen downturns before: in 2008-09 and 2013-14. But back then, the mitigating factor was that at least some segments of the industry were growing."This time around, all the segments of the industry are reporting a decline in sales," SIAM director-general Mathur said."What is extremely worrisome is the fact that the decline in July is a lot worse than that in the April-July quarter. And let's not forget that the first quarter of last year had also seen a decline over the year before," said Rajesh Goel, senior vice-president and director (sales and marketing) at Honda Cars India Ltd."We are hoping that the government would soon come out with a revival package.. However, it is still not clear what all elements would be included in it," Mathur added.The automobile industry has been pressing for a cut in the goods and services tax on vehicles from 28 per cent to 18 per cent but has been fobbed off by the government which is battling its own problems with falling revenue collections.Bhargava believes that the crisis has exacerbated because of a convergence of negative factors: new regulations on safety features making it mandatory for cars to have airbags and anti-lock braking systems (ABS); the introduction of collateral-based financing for automobile dealers, higher loan rates for new car purchases; and a three-year insurance policy. All of these have raised the costs of ownership and deterred sales, the Maruti Suzuki chairman says."If this industry goes down, then everything gets hurt. Manufacturing, jobs and revenue to the government," added Mathur.Last week, Tata Motors and Mahindra and Mahindra announced plans to cut production at their plants in response to one of the worst downturns that the industry has faced."The headwinds faced by the automotive industry continue as a result of subdued consumer sentiment.. We hope that the overall buying sentiment will improve in the run-up to the festive season and with the monsoon turning out to be better than initially anticipated," said Veejay Ram Nakra, M&M's chief of sales and marketing (automotive division).Bhargava lives in hope too. He reckons that the decline in percentage terms may not be as severe as the base effect of the third quarter kicks in. But that would be a statistical outcome - and would not really mark a turnaround. Automobile sales sank to a 19-year low in July and tumbled 18.71 per cent to 18,25,148 units, deepening concerns that the prolonged slump in one of the key sectors points to deeper problems in a stuttering Indian economy.Passenger vehicle sales - one of the closely watched high-frequency indicators - plunged 30.98 per cent to 200,790 units compared with 290,931 units in the same month last year.The fall in passenger vehicle sales was the ninth consecutive month of decline, sparked by a financing crunch that has triggered wide-scale job losses in the auto sector.On Tuesday, the Society of Indian Automobile Manufacturers (SIAM) released figures for July that showed overall vehicle sales had dived 18.71 per cent from 22,45,223 units in July 2018.This is the biggest decline in vehicle sales since December 2000 when it had plunged by 21.81 per cent.Car sales slumped by 35.95 per cent to 122,956 units from 191,979 units in the same month a year ago.Maruti Suzuki India - the country's largest car maker - posted a 36.71 per cent decline in its July sales at 96,478 units. Hyundai Motor India Ltd (HMIL) saw sales dip 10.28 per to 39,010 units.Two-wheeler sales last month declined 16.82 per cent to 15,11,692 units compared with 18,17,406 units in the year-ago month.Hero MotoCorp registered a 22.9 per cent drop in sales at 511,374 units.Commercial vehicle sales were down 25.71 per cent to 56,866 units in July as compared with 76,545 units in July 2018. DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: The Telegraphhttps://yogatrade.com/members/tawonkeens/

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Travelling to chikungunya-prone areas? Keep in mind these pointers

Although chikungunya does not kill, high morbidity rates and prolonged polyarthritis may lead to considerable discomfort in the affected population, writes Dr P Venkata Krishnan, Internal Medicine, Paras Hospital, Gurgaon. There are two key pointers to remember while deciding on such travel destinations. There is no vaccine or medicine to prevent chikungunya and the only way is to prevent mosquito bites. Factors responsible for the resurgence of chikungunya in and around the Indian sub-continent include viral mutation and emergence of Aedes albopictus as a more efficient vector, besides Aedes aegypti, for the transmission of the disease. The lack of herd immunity and in-efficient vector control measures in the affected areas are other important factors. Why chikungunya slips under dengue radar Prevention Preventing bites can be difficult, but it is important, since just one bite can make you ill. Follow the steps below to reduce the chances of being bitten by mosquitoes: *Wear long-sleeved shirts, long pants and hats to cover exposed skin. *Use an appropriate insect repellent as directed. *If you are also using sunscreen, apply sunscreen first and insect repellent after that. *Follow package directions when applying repellent on children. Avoid applying repellent to their hands, eyes, and mouth. *Use permethrin-treated clothing and gear (such as boots, pants, socks, and tents). Treated clothing remains protective even after multiple washings. Do not use permethrin directly on skin. *Stay and sleep in screened or air-conditioned rooms. *Use a mosquito net if the area where you are sleeping is exposed to the outdoors. Malaria: Know the causes, symptoms and treatment and keep yourself safe this monsoon If diagnosed with chikungunya Symptoms are generally self-limiting and last for 2-3 days. The virus remains in the human system for 5-7 days and mosquitoes feeding on an infected person during this period can also become infected. Chikungunya shares some clinical signs with dengue and can be misdiagnosed in areas where dengue is common. Most people recover fully, with symptoms resolving in three to 10 days. For some people, joint pain may continue for months, or even years. What to eat after diagnosis Diet is an important part of treatment and recovery, and as a viral disease, chikungunya is no different. Tender coconut water is a good choice that helps detoxify the body, while keeping you hydrated. Besides, one should have green, leafy vegetables because they are low in calories but high in vitamins and other minerals. A light preparation of any yellow dal (lentil) or soup is good due to their protein content while the water in the dal helps in keeping your body hydrated. Foods rich in vitamin c, such as oranges, kiwis and guavas, are a must during chikungunya not only because their help bring back appetite but they are also known for improving immunity. DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: The Indian Expresshttps://able2know.org/user/reetasignaas/

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US extends ban on passports for North Korea travel

The ban allows certain categories of American citizens such as aid workers or journalists to obtain a special validation passport good for one trip to North Korea. The move comes amid stalled diplomatic efforts to restart nuclear talksbetween North Korea and the U.S. DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: The New Indian Express

The former Union Minister also said that he had advised Naidu not to leave the NDA but he did not listen. The BJP leader accused the government of ignoring flood victims. "YSR government does not know how to implement flood control and relief measures," he said. ... DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: Deccan Chronicle

Rathour, Amre front runners for India's support staff

owever, Arun and Sridhar have emerged favourites to retain their posts after head coach Ravi Shastri is learnt to have stressed on retaining them.With Bangar's position uncertain, it is believed that Rathour or Amre stand a good chance of taking charge. Foreign aspirants like Jonathan Trott and Mark Ramprakash are unlikely to be considered.The senior selection committee, led by MSK Prasad, are conducting the process to pick the support staff. The Cricket Advisory Committee (CAC) - comprising Kapil Dev, Anshuman Gaekwad and Shanta Rangaswamy - wanted to be part of the process but that wasn't possible because the new constitution of the BCCI doesn't allow them.The process is expected to be completed by Thursday with the announcement of all the names.For the position of bowling coach, former India pacers Venkatesh Prasad, Paras Mhambrey and Amit Bhandari appeared for the interview.There are about 30 candidates for the bowling, batting and fielding coaches positions with 40 more for the physio and trainer's jobs. DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: The Telegraphhttps://smaforetagslan.blogspot.com/2019/06/digitalbyrans-fodelse.html

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"I am no hero...": Utpal Dutt, the anti-cleric extraordinaire

oday is Dutt's 26th death anniversary. When we talk about censorship in contemporary times, it is perhaps worthwhile to note that Dutt struggled with censorship his whole life. From the early 60s, through the tumultuous 70s which witnessed the Indian Emergency, Dutt's productions always unsettled those in power and relentlessly questioned the status quo. Regimes have changed, but the fear of the man on the street turning political, aided by the lucid, comprehensible demanour of theatrical productions still makes those in power sweat. One might go as far to say that the history of independent India can be written as a history of censorship - forms of which have often resulted in the complete obliteration of voices; Safdar Hashmi was killed in 1989 while performing his street play Halla Bolin Jhandapur.In an interview given to India Today in 1977, Dutt observes: When you talk of the 19 months [of the Indian Emergency of 1975], you talk of the months of the Emergency. But West Bengal has been virtually under Emergency since the overthrow of the United Front government and the rigged elections of 1972. These months were one great scene of white terror against the theatre. About 150 groups were broken up by gangsters and police action. Plays were banned, actors beaten up and hauled to court. In a country where accusations and instances of growing intolerance and political apathy are on the rise, one wonders how Dutt would have reacted. In an article written by his daughter Bishnupriya Dutt, she remarks that her father would have definitely been accused of sedition had he been alive now; and that he would have happily taken that accusation head on, the only way he knew - by staging 'seditious' plays.Might we remind ourselves here, Socrates was put to trial and death for corrupting the youth. I am no hero, I hated every minute of my prison time. But the seven months passed off quickly [...] there were the fascinating convicts - murderers, bandits and completely innocent men sent to prison by conniving feudal lords. [...] About 98% of the prisoners serving sentences in jail had been convicted for the so-called crimes against 'property'. The prisoner is a weapon in the class struggle, in the ceaseless war to maintain private property. All the talk of reforming and re-educating criminals is balderdash. One does not have to go back that many years. In September 2016, The Department of English and Foreign Languages at the Central University of Haryana, Mahendragarh produced a dramatic adaptation of Mahasweta Devi's short story Draupadi . The play was part of a day-long programme commemorating the author who passed away recently.Not long after the production, the Akhil Bharatiya Vidyarthi Parishad (ABVP), along with some ex-servicemen and locals, protested at the University, stating that the play portrayed army men in poor light and hence was anti-national.Draupadi narrates the story of Dopdi Mejhen, a 27 year old Santhal woman, rendered an insurgent in the eyes of the state. She survives several custodial rapes and tortures before facing the perpetrator of her fate in the climax of the story. That Dutt was an avowed communist is not unknown to many. His theatrical sojourn delineates his constant struggle to come up with narratives which laid bare the exploitation of the hoi polloi. Beginning with European theatre, markedly Shakespeare ( he caught the attention of Geoffrey and Laura Kendal of the itinerant Shakespeareana Theatre Company with his Othelloand embarked on a two-year-long tour with them), Brecht, Ibsen among others. But his introduction to the Naxalbari movement propelled him into exploring Bengali folk theatre, especially the jatra. This gave birth to numerous adaptations and monumental originals which shaped modern Bengali theatre. Angar (Coal) (1959), dealt with the exploitation of miners.Kallol (Outcry)involved the Royal Indian Navy mutiny of 1946. Louha Manab (The Iron Man), written in 1964 about the trial of a Stalinist ex-Politburo member by supporters of Soviet leader Nikita Khrushchev in 1963, was performed while he was imprisoned at Alipore jail in 1965 by the Little Theatre. DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: The Telegraphhttp://benoit.gaillard.aricie.net/UserProfile/tabid/2042/userId/7397/Default.aspx

ED arrests Kamal Nath's nephew Ratul Puri in Rs 354 crore bank loan fraud case

He will be produced before a special court here on Tuesday, they said. Ratul Puri was already under the probe scanner of the agency in connection with the high-profile AgustaWestland VVIP choppers corruption case and was facing a non-bailable warrant issued by a court after the ED submitted to it that the businessman might try to tamper with the evidence and influence witnesses "as he already did earlier". However, the Delhi High Court had on August 14 granted interim protection from arrest to Ratul Puri till Tuesday. The latest PMLA case emerges from a CBI FIR of August 17, where Ratul Puri, his father Deepak Puri, mother Nita (Nath's sister) and others were booked in connection with a Rs 354 crore bank fraud case filed by the Central Bank of India. The CBI had carried out multiple searches in pursuance of this FIR on Sunday. The Puri family, other individuals like Sanjay Jain and Vineet Sharma were booked by the CBI for alleged criminal conspiracy, cheating, forgery and corruption. Ratul Puri was booked in this case in his capacity as executive director of Moser Baer India Limited (MBIL), a firm promoted by his father Deepak Puri. The company is involved in the manufacture of optical storage media like compact discs, DVDs, solid-state storage devices. Ratul Puri had resigned from the post of executive director in 2012, while his parents continue to be on the board, the bank had said in a statement and compliant to the CBI. The company (Moser Baer) was taking loans from various banks since 2009 and went for debt restructuring a number of times, the bank has alleged in the complaint which is now part of the CBI FIR. When it was unable to pay the debt, a forensic audit was done and the account was declared as "fraud" by the Central Bank of India on April 20, 2019, it has alleged. "The MBIL has committed fraud and cheated the complainant bank thereby making a wrongful gain to themselves and a wrongful loss to the lender bank which is a custodian of public money," the complaint to the CBI said. The bank claimed that the company and its directors forged and fabricated documents to induce the Central Bank of India to release funds. "MBIL has caused unlawful loss to our bank to the tune of Rs 354.51 crore as on November 29, 2014, and interest thereon by getting unlawful gains," the complaint said. Ratul Puri is facing criminal investigation by three main central probe agencies, ED, CBI and the Income Tax department. The tax department has attached a number of his alleged 'benami' assets in the recent past and has charged him with benefiting from the purported kickbacks generated in the Rs 3,600 crore VVIP choppers deal case, cancelled by India in 2014 on charges of corruption. DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: The New Indian Expresshttps://www.ted.com/profiles/13765189

Now, a department of happiness at Era Medical University

The department has been established with Meeta Ghosh as it's head of department. Prof Mahdi said after the value added certificate course, a full-fledged course could be planned covering all aspects. The Department of Happiness was formally inaugurated on August 16 by principal secretary, medical education, Rajneesh Dube and the first lecture was held on Monday. 'I strongly felt the need to introduce the course on happiness, as it was felt to be the need of the hour and a core requirement for all students and all disciplines, especially those who are going to be doctors, nurses, pharmacists, paramedics and who aim to succeed and serve the society,' the V-C said. Prof Meeta Ghosh said, 'The objective of this course is to enable students to understand how positive psychology strategies can enable individuals to reach their highest potential, both as successful professional as well as good human beings.' She said, 'One of the most important aims that traditional schools and universities had to fulfil was to focus on academic success, knowledge acquisition and prepare students for professional world. However, in order to build a bright future, the present need of hour is to produce happy human beings equipped with a versatile personality.' The course is largely experiential and will include several classroom activities, interaction, group activities and practical homework. It will present practical ways of using strengths, positive emotions, relationships and accomplishment in promoting and maintaining well being and happiness. In fact the curriculum has been designed in a manner so as to produce a future generation of happy individuals who serve society and focus on positive national development. "After all, like other researchers, we believe that happiness is the butterfly that every human being tries to chase, even more than power, fame or money," she said. Happiness course elsewhere Abu Dhabi University (ADU) Abu Dhabi University (ADU) launched its first happiness course as part of the core requirement of its public health programme across campuses in Abu Dhabi and Al Ain in April 2018. The course focuses on the definition of happiness, positive psychology, principles of positive psychology and happiness, as well as on positive psychology strategies and the practical application of happiness. Yale University Happiness course is the most popular course ever to be taught at the Yale University—this semester enrolling 1,200 students, or a quarter of the undergraduate student body. Delhi government school Happiness curriculum was introduced in Delhi's government schools from this academic session. Under the curriculum, nursery and kindergarten students were taught twice a week while students from classes 1 to 8 spent one period a day to engage in meditation, storytelling, and activity sessions. The curriculum includes story-telling and activities, followed by question-answer sessions. DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: Hindustan Timeshttps://www.polygon.com/users/keroonsherry