DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA JOURNALISM OF COURAGE MONDAY, SEPTEMBER 7, 2020, NEW DELHI, LATE CITY, 14 PAGES `6.00 (`8 PATNA & RAIPUR, `12 SRINAGAR) WWW.INDIANEXPRESS.COM SINCE 1932 6 WKS AFTER PM MEETINGS SPUTNIK V 100 days and GDP shrink: Govt works on a fresh stimulus Russia shares data on vaccine with India, one option is Phase 3 trials here NEW DELHI, SEPTEMBER 6 EVEN AS Lancet published the results of Phase-1 and Phase-2 clinical trial data of the Sputnik V vaccine — cleared by Moscow regulators for public use — the Russian research institute has nowsubmitted“comprehensive data” on the vaccine’s safety and efficacytoIndianauthorities,The Indian Express has learnt. Senior officials saidIndiahad sought this from the Moscowbased Gamaleya Research Institute of Epidemiology and Microbiology. The vaccine candidate triggered a “strong” immune response in Phases 1 & 2 of the clinical trials on76people. “Wearenowdeeplyengaged withRussiaonthevaccinefront,” asourcesaid.Thisengagementis being coordinated here by Renu Swarup, Secretary, Department of Biotechnology, and, in Russia, by Indian Ambassador D B Venkatesh Varma. Asthis“comprehensivedata” is evaluated by experts in India, one option, sources said, is to have a separate Phase 3 clinical trial after necessary approvals from regulators here. In fact, according to the official Sputnik V website,runbysovereignwealth fund Russian Direct Investment Fund, Russia plans to conduct Phase 3 clinical trials in many countries,includingSaudiArabia, UAE, Brazil, and the Philippines. Theproductionof thevaccine CONTINUED ON PAGE 2 COVID COUNT: INDIA OVERTAKES BRAZIL PAGE 7 Non-salaried middle class, small trade target; talks on timing, quantum AANCHAL MAGAZINE & P VAIDYANATHAN IYER NEW DELHI, SEPTEMBER 6 THE TVIRUS Rhea Chakraborty at the office of the Narcotics Control Bureau in Mumbai on Sunday. She was questioned in the drugs case linked to the death of actor Sushant Singh Rajput. Her brother was arrested in the case September 4. Express REPORT,PAGE6 At crucial time for foreign policy, Jaishankar is guest at e-Adda today External Affairs Minister S Jaishankar EXPRESS NEWS SERVICE NEW DELHI, SEPTEMBER 6 AT A time when the Covid-19 pandemic has spotlighted increasing uncertainties in international relations, and many parts of the world have begun to look inward rather than out, External Affairs Minister S Jaishankar will be the guest at the Express E-Adda on Monday. Coaches being sanitised a day ahead of the stage-wise resumption of services of the Delhi Metro, at Khyber Pass yard in New Delhi Sunday. Praveen Khanna REPORT,PAGE4 EXPLAINS Neelkanth Mishra From The Indian Express panel of specialists, exclusive insight HOW TO READ GDP DATA PAGE 11 The contraction seen in first-quarter GDP data is severe, but not unexpected. What should be done – or not done – at the level of government policy so that the economy gets a chance to rebound? EXPLAINED PAGE 10 THE WORLD Under scanner: Over Rs 62,000 cr depositors’ cash in loss-making firm KHUSHBOO NARAYAN & SUSHANT KULKARNI MUMBAI, PUNE, SEPTEMBER 6 AAMBY VALLEY Ltd, the company whichisunder the scanner of thegovernmentforgettinginvestments of Rs 62,643 crore from deposits collected by four Sahara cooperative societies allegedlyinviolationof norms,has been making losses for at least the past five years, its consolidated accounts show. In 2018-19, the last year for which financial numbers are available, Aamby Valley Ltd made a consolidated loss of Rs 994 crore compared to a loss of Rs 1,133 crore a year earlier. Its total income came down to Rs 958 crore in 2018-19 from Rs 1,530 crore a year ago. The firm not only operates theAambyValleyhillcitylocated amidst the lush Sahyadri mountain ranges near Lonavala in Maharashtra but also owns properties in India and abroad through 12 Indian subsidiaries CONTINUED ON PAGE 2 ESHA ROY NEW DELHI, SEPTEMBER 6 ONE KILLED, SEVERAL INJURED IN SERIES OF STABBINGS IN BIRMINGHAM PAGE 12 BUSINESS AS USUAL BY UNNY INSIDE KESAVANANDA BHARATI,PETITIONER INLANDMARK‘BASIC STRUCTURE’CASE,DIES PAGES 6, 10 4 years after elephant corridor secured in Wayanad, rise in animals, incomes A REPORT released by the Wildlife Trust of India (WTI) last month shows that four years aftertheThirunelli-Kudrakoteelephant corridor in Kerala’s Wayanad district was accorded protection by the state, unencumbered elephant movement in the corridor has increased, as hasthepresenceof otherspecies A family from Thirulakunnu village that was encouraged to move out and relocated elsewhere. Pic courtesy: WTI in the area, including tigers and spotted deer. The Wayanad corridor, initiated by the Kerala government nearly15yearsagoinassociation with the WTI and several other nationalandinternationalNGOs, is the first of its kind in South Asia, wherein villagers living directly in the path of the elephant movement were encouraged to voluntarily move out and were relocated elsewhere. CONTINUED ON PAGE 2 App developed by two IIT-B friends helps J&K students beat slow Internet speeds LOCKDOWN LESSONS CHANGING CLASSROOMS AN EXPRESS SERIES NAVEED IQBAL SRINAGAR, SEPTEMBER 6 AT 10.37 one morning last week, as Shakir Rashid went live with his class online, he had already been rung up by several of his students–hewassevenminutes Masudi (left) and Abidi developed the 2G-friendly app. Express late, and they were impatient. Rashid decided to wait a few more minutes to let some more CONTINUED ON PAGE 2 ‘I have not got GST since March... If Centre doesn’t have money, how are we to get it?’ AMARINDER SINGH CHIEF MINISTER, PUNJAB AAMBY VALLEY IN SAHARA PROBE EXPERT India faces a range of complex foreign policy challenges right now, and the Minister is at the centre of efforts to resolve the border crisis with China, even as he reaches out to other neighbours. Elsewhere too, a lot is happening — the US has entered the home stretch of a hugely consequential presidential election. This is also a good time to studentsjoinin.Andat10.40am, he began his class – on the theory of demand and supply. Rashid, who is based in Srinagar, teaches a class in a course of cost management accounting – and this is how most mornings begin. His 76 students come from nearly all districts of Jammu and Kashmir, from Doda to Shopian and Kupwara. And even at the restricted data speeds in 18 of the 20 districts in the Union Territory, the lesson hits home loud and clear. Theseclasseshavebeenmade possible by the use of a mobile phone application called ‘Wise App’, which has been developed by two friends from IIT-Bombay, CONTINUED ON PAGE 2 AFTER MORE THAN 100 days since Finance Minister Nirmala Sitharaman announced an economicpackage,sixweeksaftera series of meetings at the highest level underlined the need for a stimulus and official estimates indicating the worst-ever first quarter GDP contraction of 23.9 per cent, the government has finallyidentifiedthe“non-salaried middle class and small businesses”asthetargetaudiencefor a second round of stimulus. In mid-May, Sitharaman had announced five tranches of the AtmaNirbhar package, adding up to an economic package of Rs 20 lakh crore. Much of it was liquidity support, with extra fiscal outgo by the Central government just a little over 1 per cent of GDP. While April-June GDP wasexpectedtoshrink,thereare clear signals the second quarter, too, will contract, with July and August not showing any promise of big recovery. With a more clearer picture now available, the government seems to have zeroed in on who needsfinancialsupportthemost E E X P L A I NE D KAUNAIN SHERIFF M Will itbe late and ● little? IN ELABORATE presentations to the PM six weeks ago, NITI Aayog, the PM’s Economic Advisory Council and the Chief Economic Advisor’s office in the Ministry of Finance, made two important points: one, the economy needs a fiscal boost, and two, the financial system needs support. The government has zeroed in on the target audience but is still working out the timing and the quantum. butisstilldebatingitstimingand mode of delivery. “This round of fiscal stimulus will be more for the group which is not completelypoorandnotrich.Thisinbetween, the non-salaried middle class, it is the most affected. The timing of the rollout is crucial in getting the maximum benefit,”aseniorgovernmentofficial told The Indian Express. CONTINUED ON PAGE 2
Indian Express Limited is an Indian news media publishing company. It publishes several widely circulated dailies, including The Indian Express and The Financial Express in English, the Loksatta in Marathi and the Jansatta in Hindi.