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Consumer confidence plunges 7.3% in Jan 2020: Report

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National debt under Modi govt surges

New Delhi, Jan 20 : Consumer sentiment has nosedived by 7.3 percentage points in January 2020, according to the latest India Primary Consumer Sentiment Index (PCSI), as measured by Thomson Reuters, in partnership with Ipsos.

The major cause for this pessimism is the depleting confidence around personal spends and investments. Even confidence about the economy is low, though confidence around jobs has slightly moved up.

“Inflation and prices of essential commodities have been going up due to the US-Iran standoff and uncertainty around the US-China trade war. It has jacked up oil prices and the cost of living. Also around this time, IT planning is a strain on incomes. Additionally, global slowdown has impacted India’s economic growth as well, as economies are becoming increasingly interdependent,” says Amit Adarkar, India CEO & APAC Operations Director, Ipsos.

The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, has plummeted for at least 3 of the 4 sub indices. The four sub-indices are: Current Conditions Index; Expectations Index; Investment Index; and Jobs Index.

While the PCSI Employment Confidence (“Jobs”) Sub-Index has slightly moved upwards by 0.5 percentage points, the PCSI Economic Expectations (“Expectations”) Sub Index, has significantly declined by 5.1 percentage points. The PCSI Investment Climate (“Investment”) Sub-Index has plunged by 12.9 percentage points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has also majorly dropped by 12.5 percentage points, over the last month.

The findings have come out from an Ipsos online poll conducted between December 20, 2019-January 3, 2020. For this survey, a sample of 500 adults from Ipsos’ India online panel aged 16-64 was interviewed online.

The Thomson Reuters/Ipsos India Primary Consumer Sentiment Index (PCSI), ongoing since 2010, is a monthly national survey of consumer attitudes on the current and future state of local economies, personal finance situations, savings and confidence to make large investments.

Ipsos Public Affairs is a non-partisan, objective, survey-based research practice made up of seasoned professionals. It conducts strategic research initiatives for a diverse number of American and international organisations, based not only on public opinion research, but elite stakeholder, corporate and media opinion research.

Cities

Police fire to disperse crowd after protesters target riot vehicle

Rioters used stones, sticks and country-made firearms as pro- and anti-CAA demonstrators clashed.

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Jaffrabad CAA Clash

New Delhi, Feb 25 : Police on Tuesday fired in the air after the anti-Citizenship Amendment Act (CAA) protesters pelted stones on police vehicles in northeast Delhi.

The situation in the area remained tense since morning as number of shops were gutted in the fire Monday’s violence.

The firing by the police started after the anti-CAA protesters pelted stones on Vajra riot vehicles.

The police first fired tear gas shells to disperse the heavy crowd protesting near the Jaffrabad metro station.

But when they saw that the situation was going out of control they opened fire in the air.

The police had already made adequate security arrangements in the area following Monday’s violence with the paramilitary and Rapid action Force (RAF).

The police chased the protesters away from the Jaffrabad metro premises.

Around 70-80 rounds of bullets were fired by the police to disperse the heavy crowd.

On Monday, there were reports of violence and arson from the areas as Delhi Police confirmed that seven people, including a police head constable, had died in the rioting that has continued sporadically across several localities since Saturday.

Rioters used stones, sticks and country-made firearms as pro- and anti-CAA demonstrators clashed.

The number of injured persons is also piling up at the GTB hospital in northeast Delhi.

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Cities

Over 15 people sustain bullets wounds in pro- and anti-CAA violence

“we have received a total of 93 injured persons and there are five deaths as of now. Fresh data will be released by tonight.” Said Dr Kalra GTB

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CAA Violence

New Delhi, Feb 25 : Casualties were piling up at Guru Teg Bahadur Hospital amid violent clashes between pro- and anti-CAA protesters in northeast Delhi.

One of the doctors at the hospital who treated the injured told IANS that more than 15 people have sustained bullet injuries.

GTB Hospital has confirmed five deaths till Tuesday. Speaking with IANS, Dr Rajesh Kalra, Additional Medical Superintendent of the hospital said “we have received a total of 93 injured persons and there are five deaths as of now. Fresh data will be released by tonight.”

Dr Kalra also said “mostly they are blunt trauma injuries and firearm injuries. One is a petrol victim also. Most minor injuries but 2 to 3 persons were operated on Monday and few more to be operated today.”

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India

Yusuf Chopan grants bail in Pulwama attack conspiracy case

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CRPF troopers killed in suicide attack in Pulwama

New Delhi, Feb 25 : A Delhi court has granted bail to an accused in the Pulwama attack conspiracy case after the National Investigating Agency (NIA) failed to file the chargesheet within the prescribed period.

Special NIA Judge Parveen Singh, in an order pronounced on February 18, observed that accused Yusuf Chopan is entitled to statutory bail.

The bail was granted after Chopan’s counsel apprised the court that his client is in custody since the last 180 days and the time for filing chargesheet has elapsed.

The accused has been asked to furnish a personal bond of Rs 50,000 with one surety of like amount. Inter alia, he has also been directed to join the investigation as and when called.

He has been directed not to commit any similar offence, tamper with evidence, make any inducement, threat or promise to any person acquainted with the facts of the case.

Forty CRPF personnel, travelling in a convoy on the Jammu-Srinagar highway in Pulwama district, were killed on February 14 last year when a suicide bomber rammed a car loaded with explosives into a CRPF bus in Awantipora’s Goripura.

Following the attack, banned terror outfit Jaish-e-Mohammed claimed responsibility and even released a video of the purported attacker.

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