IMF Slashes India's Growth Forecast To 8.2% In 2022-23

HT Daily News Wrap

Centre’s decision on mix-and-match boosters likely in two weeks: Official, Army investigates espionage angle over security breach in WhatsApp group, IMF slashes India's growth forecast to 8.2% in 2022-23 and other top news in this bulletin.
The government may be able to decide in two weeks whether to mix and match the booster doses of approved Covid-19 vaccines based on India-specific trial data being prepared by the Christian Medical College in Vellore, according to people familiar with the development. CMC Vellore, which was permitted to conduct homologous as well as heterologous booster dose trial by the national drugs regulator last year, is soon going to generate adequate data to be able to present before the subject experts of Central Drug Standard Control Organisation (CDSCO). “We got permission from the health ministry screening committee to test samples from the study late last week. Two weeks would be needed to generate data,” said Gagandeep Kang, senior vaccine expert and faculty at CMC Vellore, who is spearheading the study. “The sample testing has begun and in a week or so we should be able to generate relevant data that will be submitted first to the data safety and monitoring board. Following their approval, we will present the data to CDSCO,” Kang said. “We have already sought an appointment from the drugs regulator on this,” The Indian Army is investigating a possible espionage angle in an alleged security breach in which some military personnel are under the scanner for leaking sensitive information on social media, people familiar with the matter said on Tuesday. The alleged breach took place in some WhatsApp groups, and the probe is looking into the possibility of the information falling into the wrong hands, said one of the officials cited above, asking not to be named. It appears to be a case of cyber security breach, and all angles are being investigated and strict action will be taken if anyone is found to be guilty as the matter could fall under the Official Secrets Act, said a second official, who also asked not to be identified. The Official Secrets Act (1923), applicable to government servants and citizens, provides the framework for dealing with potential threats to the integrity of the nation, and carries a maximum sentence of 14 years’ imprisonment. While the army spokesperson did not comment on the case, officials familiar with the matter refused to give out further details on the exact nature of the breach, the number of people under the scanner, or where the information may have ended up. India has emphasised right from the beginning of the Russia-Ukraine crisis the need to pursue the path of diplomacy and dialogue and maintains the stance, India’s deputy permanent representative to the UN, R Ravindra, said speaking at the United National Security Council meeting on Ukraine’s humanitarian situation on Tuesday. “We have emphasized right from the beginning of the conflict the need to pursue the path of diplomacy and dialogue. When innocent human lives are at stake, diplomacy must prevail as the only viable option,” the diplomat said. “The humanitarian situation in Ukraine has deteriorated further since the Council last discussed this issue. From reports coming out of Ukraine, women and children have been disproportionately impacted and they form the bulk of people who have moved to neighbouring countries and displaced internally in Ukraine,” India said. Highlighting India’s humanitarian help in Ukraine’s situation, the diplomat said India has been sending medicines and other essential relief and will continue to provide more to Ukraine. The University Grants Commission (UGC) on Tuesday allowed academic collaboration between the Indian and foreign colleges in a move that will make it easier for Indian students to study in foreign universities, even earn a degree from one, and vice versa. Regulations allowing some of these provisions were first announced in 2012, and subsequently modified in 2016, but with few takers among either Indian or foreign universities, have been eased further now. This, however, is the first time joint degrees are being permitted. Regulations allowing some of these provisions were first announced in 2012, and subsequently modified in 2016, but with few takers among either Indian or foreign universities, have been eased further now. This, however, is the first time joint degrees are being permitted. The Commission on Tuesday approved UGC (Academic Collaboration between Indian and Foreign Higher Educational Institutions to offer Twinning, Joint Degree and Dual Degree Programmes) Regulations, 2022. These regulations lay down the minimum standards for academic collaboration between Indian and foreign colleges. IMF Slashes India’s Growth Forecast To 8.2% In 2022-23 Over Russia-Ukraine War Concerns. The International Monetary Fund (IMF) has slashed the growth forecast for India for the current financial year by 80 basis points to 8.2 per cent, cautioning that the ongoing Russia-Ukraine war will in the long run hurt consumption and also growth as inflation will rise. The funding body has made the growth forecast in its “World Economic Report”, which was released today. Commenting on India’s growth forecast in the report, the IMF said that higher oil prices are expected to weigh on private consumption and investment.