PM ADDRESSES THE NATION, ANNOUNCES A STIMULUS PACKAGE

In a big push to revive the economy, Prime Minister Narendra Modi on Tuesday

announced a Rs 20 lakh crore package, which includes the government's recent

announcements on supporting key sectors as also measures rolled out by the

Reserve Bank of India.

In a televised address to the nation, the prime minister said the details

about fourth phase of the lockdown will be made known before May 18, adding

it will be different from the earlier phases.

The third phase of the lockdown ends on May 17.

About the financial package, he said it will be around 10 per cent of the

GDP and will address problems of a wide range of sectors.

The prime minister said the goal of the country will be to become

self-reliant, and identified economy and infrastructure as key drivers for

it.

The prime minister also hinted at big-ticket economic reforms in coming

days, adding details of the economic package will be given by Finance

Minister Nirmala Sitharaman.

The last time the PM had addressed the nation was on April 14. Modi has been

addressing the country off and on during the nationwide lockdown owing to

the coronavirus pandemic.

HIGHLIGHTS OF THE PM'S SPEECH LAST EVENING

One virus has destroyed the world, says Prime Minister Modi.

This is an unprecedented crisis; we have to protect ourselves and move ahead

as well.

Making India self-reliant is only way to make 21st century belong to India.

The country should view the Covid-19 crisis as an opportunity to achieve

economic self-reliance

India didn't produce any PPE before COVID-19 crisis and manufactured very

few N-95 masks; now we are producing 2 lakh each day: PM Modi

India's self-reliance addresses concerns about world's happiness,

cooperation and peace

Medicines supplied by India have infused new hopes in the world which is

fighting battle of life and death

India has resources and talent, it will make best products, improve quality

and supply chain

India's self-reliance will be based on five pillars -- economy,

infrastructure, technology driven system, vibrant demography and demand

Special economic package (of all inclusive Rs. 20 Lakh Crores) will have

emphasis on land, labour, liquidity and laws

Beginning Wednesday, finance minister will announce details of special

economic package

Special economic package is for our labourers, farmers, honest tax payers,

MSMEs and cottage industry

In this hour of crisis, local suppliers have met our demands; Indians have

to be 'vocal about local' and buy products from them

He said the 4th phase of lockdown will be of new features. States are giving

suggestions and before May 18 all will be given details.

Coronavirus going to be part of our lives for long time, but we can't let

our lives revolve around it only

'Lockdown 4' will be different and have new rules; you will be informed

about it before May 18

This era of self-reliance will be our new pledge and new festival; we have

to move on with new resolve

ENSURE SAFE RETURN OF LABOURERS, DEPOSIT RS 7,500 IN THEIR ACCOUNTS: RAHUL

TO PM

Congress leader Rahul Gandhi on Tuesday urged Prime Minister Narendra Modi

to ensure the safe return of lakhs of labourers to their homes and deposit

at least Rs 7,500 in their accounts.

He also urged the prime minister to deposit money in their accounts and

announce an economic package for the small and medium industry to ensure

their livelihoods.

"Prime Minister ji, I request you to announce steps on the safe return of

lakhs of labourer brothers and sisters, who are walking on the streets, to

their homes. Along with this, to give support to them in this time of

crisis, ensure direct transfer of at least Rs 7,500 to the accounts of all

of them," he said in a tweet posted just as Modi was to begin his address to

the nation.

In a video message in the tweet, he said mothers cry whenever their children

are hurt. "Today, Mother India is crying because crores of its children are

walking on the streets thirsty and hungry. I urge the government to ensure

their safe return home, put money in their bank accounts and to ensure their

livelihood, give an early package to the small and medium industry," Gandhi

said.

INDIA, CHINA LOCKED IN TENSE MILITARY STAND-OFF IN EASTERN LADAKH

Fully-armed troops of Indian and Chinese armies are at present locked in a

tense stand-off in Eastern Ladakh, indicating that the clash on the night

intervening May 5 and 6 between the two sides is still simmering.

Troops of the People's Liberation Army (PLA) of China are holding ground at

a position on the north-bank of Pangong Tso Lake. Some 80-100 troops form

what is the "front" for the stand-off of each country.

This is just a few hundred metres away from the spot where troops of both

sides clashed in the small hours of May 6, and even pelted each other with

stones resulting in injuries to several people on either side.

Some 1,200 troops are in a back-up location of China. India has reinforced

its position militarily, sources said, asking for the exact numbers to be

avoided.

The Indian troops are at a location India perceives as its own territory

along the disputed Line of Actual Control (LAC). The Chinese dispute Indian

claims at this particular location and their troops are stationed just

across. The Chinese do not have a post at this location. They normally come

for patrol and return.

During the stand-off, the Indian Air Force was asked to fly in a pair of

Sukhoi30 MKI after helicopters of China were seen flying on their side. As

per existing arrangements, fighter jets maintain a certain distance from the

LAC.

COVID-19 DASHBOARD - (Nos. IN INDIA / Nos. WORLDWIDE)

(Indian data from covid19india / and World Data from

worldometers.info/coronavirus/ )

Total Cases 74,288 (+3,524) / 43,42,335 (+86,395)

Total Deaths 2,415 (+121) / 2,92,886 (+5,554)

Total Recovered 24,422 (+1,873) / 16,02,436 (+74,949)

Active Cases 47,451 (+1,530) / 24,47,013 (+5,892)

Serious / Critical Cases (Not Available) / 46,342 (-594)

Top impacted nations so far: (And some of India's Neighbours)

Country / Total Cases / Deaths / Total Deaths per 1M Pop.

USA 14,08,636 / 83,425 / 252

Spain 2,69,520 / 26,920 / 576

Russia 2,32,243 / 2,116 / 14

UK 2,26,463 / 32,692 / 482

Italy 2,21,216 / 30,911 / 511

France 1,78,225 / 26,991 / 414

Brazil 1,78,214 / 12,461 / 59

Germany 1,73,171 / 7,738 / 92

Turkey 1,41,475 / 3,894 / 46

Iran 1,10,767 / 6,733 / 80

India 74,292 / 2,415 / 1.8

Pakistan 34,336 / 737 / 3.5

Bangladesh 16,660 / 250 / 1.5

Sri Lanka 889 / 9 / 0.4

Top 17 impacted Indian States so far: (Total No. of Confirmed case / No. Of

Deaths)

State / Confirmed Cases / Active Case / Recovered /

Deceased

Maharashtra 24,427 / 18,381 / 5,125 /

921

Gujarat 8,904 / 5,121 / 3,246 / 537

Tamil Nadu 8,718 / 6,523 / 2,134 /

61

Delhi 7,639 / 5,041 / 2,512 / 86

Rajasthan 4,126 / 1,555 / 2,454 /

117

Madhya Pradesh 3,986 / 1,901 / 1,860

/ 225

Uttar Pradesh 3,664 / 1,709 / 1,873 /

82

West Bengal 2,173 / 1,363 / 612 /

198

Andhra Pradesh 2,051 / 949 / 1,056

/ 46

Punjab 1,914 / 1,711 / 171 / 32

Telangana 1,326 / 472 / 822 /

32

Jammu and Kashmir 934 / 469 / 455

/ 10

Karnataka 925 / 460 / 433 /

31

Bihar 879 / 491 / 382 / 6

Haryana 780 / 427 / 342 /

11

Kerala 525 / 32 / 489 / 4

Odisha 437 / 349 / 85 / 3

INTERNATIONAL AFFAIRS

======================

CHINA SUSPENDS PENALTIES ON MORE U.S. GOODS IN TRADE TRUCE

China suspended punitive tariffs on more U.S. goods including radar

equipment for aviation Tuesday amid pressure from President Donald Trump, as

part of a truce in their trade war.

The Ministry of Finance said tariff increases on 79 types of goods including

radar sets, disinfectant and rare earths minerals would be suspended for one

year starting May 19.

Washington agreed in January to cancel additional tariff hikes and Beijing

committed to buy more American farm exports. U.S. officials said China

agreed to address complaints about its technology policies.

On May 3, Trump had threatened to terminate the agreement if China fails to

buy more American goods.

Tuesday's announcement was the third Chinese tariff cut since the January

agreement.

Beijing announced on Feb. 6 it would reduce duties on $75 billion of U.S.

goods. It followed up by rolling back penalties on a list of goods that

included medical and industrial machinery.

WUHAN TO TEST ENTIRE POPULATION AFTER NEW VIRUS CLUSTER EMERGES

Wuhan plans to conduct COVID-19 tests on the Chinese city's entire

population after new cases emerged for the first time in weeks in the cradle

of the global pandemic, state media reported on Tuesday.

"Each district should make plans and arrangements to conduct tests on the

entire population in its jurisdiction within a 10-day time limit," the

notice said, although it was unclear when testing would begin.

The plan come after Wuhan reported the first cluster of new COVID-19

infections since the city re-opened after a 76-day lockdown on April 8.

Six new cases were reported on Sunday and Monday from a residential compound

in Dongxihu District.

AS NATIONS REOPEN, WARNING EMERGES ABOUT VIRUS TRACING VOIDS

A top world health official Monday warned that countries are essentially

driving blind in reopening their economies without setting up strong contact

tracing to beat back flare-ups of the coronavirus.

The warning came as France and Belgium emerged from lockdowns, the

Netherlands sent children back to school, and many U.S. states pressed ahead

by lifting business restrictions. Tesla CEO Elon Musk announced the

company's 10,000-worker electric car factory near San Francisco was

operating Monday in defiance of coronavirus health orders that closed

nonessential businesses.

Authorities have cautioned that the scourge could come back with a vengeance

without widespread testing and tracing of infected people's contacts with

others.

The World Health Organization's emergencies chief, Dr. Michael Ryan, said

that robust contact tracing measures adopted by Germany and South Korea

provide hope that those countries can detect and stop virus clusters before

they get out of control.

The top US infectious diseases doctor has warned senators the virus will

spread if the country opens up too soon. Dr Anthony Fauci said if federal

guidelines to reopen are not followed, "little spikes" will become

outbreaks.

He also said the real US death toll is probably higher than the official

figure of 80,000.

His message is at odds with the upbeat tone of President Trump who is keen

to get the economy going again.

THE REST

========

FORMER PM MANMOHAN SINGH DISCHARGED FROM AIIMS

Former prime minister Manmohan Singh, who was admitted to the AIIMS in New

Delhi after suffering reaction to a new medication, was discharged on

Tuesday.He was also tested for COVID-19 and his results had come out

negative.

Singh was admitted to the hospital on Sunday evening after he complained of

uneasiness.

COVID-19 NUMBERS, BY HEALTH MINISTER

The doubling time of COVID-19 cases has now improved to 12.2 days from 10.9

days, Union Health Minister Harsh Vardhan said on Tuesday, highlighting the

need for enhanced surveillance and contact-tracing in view of migrants and

expats returning home.

He asked the states and UTs to focus on surveillance, testing,

contact-tracing and timely treatment of all the returnees. Vardhan suggested

that the Aarogya Setu mobile application be made compulsory for all the

returnees for better surveillance and suitable medical interventions, the

ministry said.

"While the doubling time in the past 14 days was 10.9, it has improved to

12.2 in the last three days," Vardhan was quoted as saying in a statement.

Of the total active cases, as on Monday, 2.37 per cent patients are in ICU,

0.41 per cent on ventilators and 1.82 per cent on oxygen support, he said.

The minister said the testing capacity had increased to 1 lakh tests per day

with 347 government laboratories and 137 private labs.

"Cumulatively, 17,62,840 tests have been done so far for COVID-19. Whereas,

86,191 samples were tested on Monday," he said.

AAROGYA SETU MANDATORY FOR TRAIN TRAVEL; COULD BE REQUIRED FOR AIR TRAVEL

TOO

The Government of India has started to ease the lockdown restrictions, which

has been in place since March due to the ongoing COVID-19 pandemic. The

government may also start domestic air travel for people stuck in various

parts of the country. The government is looking to "make it mandatory for

people to have Aarogya Setu mobile application installed in their phones

while taking a flight post-lockdown."

The Aarogya Setu app uses a smartphone's Bluetooth and location data to

trace its user's movement. This helps it keep a check on the user if they

come in contact with a COVID-19 high-risk person. However, due to the app

having access to so much sensitive data, people have been a bit skeptical

about downloading it. However, Niti Aayog, CEO, Amitabh Kant stated that the

servers only keep the data of a safe user for 30 days while data of users at

high-risk are stored for 60 days.

MAHARASHTRA TO RELEASE HALF THE STATE'S PRISONERS

After over 180 positive Covid-19 cases were detected across Mumbai's Arthur

Road Jail, the Maharashtra Prisons Department has decided to increase the

number of prisoners being temporarily released in the state from 11,000 to

17,000. This is around half the pre-lockdown population in prisons across

the state.

A high powered committee, constituted according to Supreme Court directives

to lay down steps to decongest the state's prisons in the wake of the Covid

pandemic, held a meeting on Monday after 185 cases were detected in Arthur

Road Jail - which include 158 inmates and prison staff - and one case was

detected in Byculla Jail.

On March 26, the Maharashtra government had announced that nearly 11,000

inmates - both undertrials and convicts incarcerated for lesser and

non-henious offences that attract less than seven years of maximum sentence

- would be released either on provisional bail or parole.

Since March 28, over 5,200 undertrials have been released on conditional

bail. The process of release of convicts started on May 8 and so far, around

500 inmates across the state have been released on emergency parole.

INDIA'S INDUSTRIAL OUTPUT FALLS 16.7% IN MARCH: GOVERNMENT

The index of industrial production (IIP) witnessed a sharp decline of 16.7

per cent to 120.1 in the month of March.

The IIP had grown 2.7 per cent in March 2019.

The industrial growth during the fiscal year 2019-20 (April-March) slipped

0.7 per cent, compared to a 3.8 per cent rise in 2018-19, the data showed.

The steep fall in IIP during March was mainly on account of a dismal show by

mining, manufacturing and electricity sector due to the nationwide lockdown

due to the coronavirus (COVID-19).

MAHARASHTRA NOD TO LIQUOR HOME DELIVERY FROM MAY 14

The Maharashtra government on Tuesday gave its approval to allow home

delivery of alcohol in the state during the lockdown.

Days after long queues outside liquor shops raised an alarm, leading to a

shutdown of such stores in Mumbai, the Uddhav Thackeray government invoked a

special provision (Section 139) of the Maharashtra Prohibition Act, 1949, to

order the excise commissioner to provide the home delivery option.

The order was needed since home delivery of liquor is not legal under normal

circumstances in the state.

THE FINE PRINT OF RS. 20 LAKH CRORE STIMULUS PACKAGE

On Tuesday evening, Prime Minister Narendra Modi unveiled a Rs. 20 lakh

crores worth economic package, i.e. 10 per cent of our GDP, that will

include the earlier reliefs announced by Finance Minister Nirmala Sitharaman

and the RBI.

This means the total amount of additional money will not be Rs 20 lakh

crore, it will be substantially less.

In contrast, when the US is said to have announced a relief package of $3

trillion (Rs 225 lakh crore), it only refers to the money that will be spent

by the government - and it has nothing to do with what the Federal Reserve

(US central bank) might have done.

A rough estimate suggests that the RBI's decisions have provided additional

liquidity of about Rs 6 lakh crore since the start of the Covid-19 crisis.

Add this to the Rs 1.7 lakh crore of the first fiscal relief package

announced by the Centre on March 26. That leaves an effective additional

amount of about Rs 12.3 lakh crore.

But credit easing by the RBI - that is, making more money available to the

banks so that they can lend to the broader economy - is not like government

expenditure. That's because, especially in times of crisis, banks may take

that money from RBI and elsewhere and, instead of lending it, park it back

with the RBI. This is exactly what is happening right now.

BRYAN ADAMS GOES ON RACIST CORONAVIRUS RANT

Renowned pop singer Bryan Adams has been accused of racism after a rant

against "f****ng bat eating, wet market animal selling, virus making greedy

b******s" for causing the coronavirus pandemic. In a recent Instagram post,

the singer bemoaned that he would be unable to perform at London's Royal

Albert Hall due to the coronavirus pandemic.

Sharing his thoughts on his Instagram profile, Adams wrote, "Tonight was

supposed to be the beginning of a tenancy of gigs at the @royalalberthall,

but thanks to some f****ng bat eating, wet market animal selling, virus

making greedy b******s, the whole world is now on hold, not to mention the

thousands that have suffered or died from this virus. My message to them

other than 'thanks a f****ng lot' is go vegan."

Following the rant which many believe is anti-Chinese, Bryan Adams was

criticized by netizens.

However, Adams is not the only musician to have blamed the consumption of

bats for the COVID-19 outbreak. Beatles' Paul McCartney had earlier said,

"Let's face it, it is a little bit medieval eating bats . They will not

close down these wet markets, that got us into this trouble in the first

place . It wouldn't be so bad if this is the only thing it seems like you

can blame on those wet markets. It seems like Sars, avian flu, all sorts of

other stuff that has afflicted us . and what's it for? For these quite

medieval practices. They need to clean up their act."

INDICATORS

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US$-Rs. 74.80 GBP-Rs. 92.08, Euro-Rs. 81.03, UAE Dhm-Rs.20.36, Can$-Rs.

53.31, Aus$- Rs. 48.49

GBP 0.81 /US$, Euro 0.92 /US$, Jap.Yen 107.37 /US$, Aus$ 1.54 /US$, Sing

1.41 /US$, Bang Taka 83.42 /US$, Can$ 1.40 /US$, Mal Ring 4.33 /US$,

Pak Re 159.66 /US$, Phil Peso 50.22 /US$, Russian Rouble 73.40 /US$, NZ$

1.64 /US$, Thai Baht 32.08 /US$, Ukraine Hryvnia 26.56 /US$, Norway NOK

10.22 /US$

Bitcoin - USD 8918

Dollar Index 99.99 Brent Crude 29.53 BDI 433

Gold world Spot Price USD/aoz 1,702 India (Rs. per gm 24k/22k) 4,530 / 4,430

Silver (Rs. Per KG) 43,090

THOUGHT FOR THE DAY

Indians declare victory too soon - Viswanathan Anand (in 2004)

OFF TRACK

"So, what did your old man say when you told him you were pregnant?" said a

college girl to her friend.

"You want me to leave out the profanities?"

"Yeah, sure."

"Nothing."