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The Indian Council of Medical Research Director General Dr Rajiv Bahl on Monday criticised a recently published study on the long-term safety analysis of the <keyword id="9485939" type="General" weightage="100" keywordseo="covaxin" source="Orion">Covaxin</keyword> in adults and adolescents for its poor methodology and design, and clarified the article misleadingly and erroneously "acknowledges" <keyword id="19918794" type="General" weightage="20" keywordseo="ICMR" source="keywords">ICMR</keyword>. Dr Bahl said the study had no control arm of unvaccinated individuals for comparing the rates of events between the vaccinated and unvaccinated groups. Hence, the reported events in the study cannot be linked or attributed to COVID-19 vaccination. He added that the ICMR is not associated with the study and has not provided any financial or technical support for the research. The ICMR DG has written a letter to the authors of the paper and Editor of the journal to immediately remove the acknowledgement to ICMR and publish an erratum. A research paper, titled 'Long-Term Safety Analysis of the BBVl52 <keyword id="21730391" type="General" weightage="20" keywordseo="coronavirus-vaccine" source="keywords">Coronavirus Vaccine</keyword> in Adolescents and Adults: Findings from a l-Year Prospective Study in North India' stated that nearly one-third of the 926 participants in the study who received Bharat Biotech's anti-Covid vaccine Covaxin reported 'adverse events of special interest,' or AESI. Dr Bahl said that ICMR was acknowledged for research support without any prior approval of or intimation to ICMR, which is inappropriate and unacceptable. He stated that ICMR cannot be associated with this poorly designed study which purports to present a "safety analysis" of Covaxin due to several critical flaws. He said the study does not even provide background rates of observed events in the population, making it impossible to assess the change in incidence of observed events in the post-vaccination period. Baseline information of study participants is missing. The study tool used is inconsistent with 'Adverse Events of Special Interest (AESI)' as defined in the reference provided in the paper for AESI. The method of data collection has a high risk of bias, he said. Study participants were contacted telephonically one year after vaccination and their responses were recorded without any confirmation with clinical records or by physician examination, he pointed out. Dr Bahl also noted that similar acknowledgements to ICMR have been made in previous papers without permission, raising concerns about the authors' practices. "The authors have been urged to immediately rectify the acknowledgment to ICMR and publish an erratum. Additionally, they are asked to address the methodological concerns raised. Failure to do so may prompt ICMR to consider legal and administrative action," he said. The Editor has been asked to retract the paper which implicitly makes conclusions on <keyword id="21495684" type="General" weightage="20" keywordseo="vaccine-safety" source="keywords">vaccine safety</keyword> which are not supported by evidence. The study, conducted by researchers from the Banaras Hindu University from January 2022 to August 2023, stated that nearly 50 per cent of 926 study participants in the study complained of infections during the follow-up period, predominated by viral upper respiratory tract infections. Serious AESI, which included stroke and Guillain-Barre syndrome, were reported in one per cent of individuals, the study, which looked at long-term safety of the BBV152 (Covaxin) vaccine in adolescents and adults, claimed. The study involved 635 adolescents and 291 adults, who received the BBV152 vaccine.

BHU study on Covaxin side effects poorly designed, critically flawed: ICMR Director General

<keyword id="19910149" type="General" weightage="100" keywordseo="AstraZeneca" source="keywords" meta.keywordsubtype="org" meta.entityname="AstraZeneca" meta.hostid="261" meta.entityid="AstraZeneca">AstraZeneca</keyword> made headlines on Tuesday as it initiated the global withdrawal of its COVID-19 vaccine. This decision comes weeks after the pharmaceutical giant acknowledged the vaccine's potential to trigger a rare side effect known as <keyword id="21475609" type="General" weightage="20" keywordseo="Thrombosis-with-Thrombocytopenia-Syndrome" source="keywords">Thrombosis with Thrombocytopenia Syndrome</keyword> (TTS). Previously, AstraZeneca had admitted in court filings that its vaccine could lead to side effects like <keyword id="21303970" type="General" weightage="20" keywordseo="blood-clots" source="keywords">blood clots</keyword> and low blood platelet counts. However, the company has now attributed its <keyword id="21572759" type="General" weightage="20" keywordseo="vaccine-withdrawal" source="Orion">vaccine withdrawal</keyword> not to the aforementioned side effects, but to an "oversupply of updated vaccines" since the pandemic. The company also announced its decision to revoke the vaccine Vaxzevria's marketing authorisations within Europe, noting that the oversupply has reduced the demand for Vaxzevria, which is no longer being produced or distributed. According to The Telegraph, AstraZeneca had submitted its application to withdraw the vaccine on March 5, and the withdrawal became effective on May 7. AstraZeneca collaborated with the University of Oxford to develop the Vaxzevria vaccine, while also partnering with the <keyword id="19897707" type="General" weightage="20" keywordseo="Serum-Institute-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Serum Institute of India" meta.hostid="261" meta.entityid="Serum Institute of India">Serum Institute of India</keyword> (SII), the world's largest vaccine manufacturer, to supply the Covishield vaccine to the Indian government. The UK-based pharma company is currently facing <keyword id="19982808" type="General" weightage="20" keywordseo="legal-action" source="keywords">legal action</keyword> alleging that its vaccine has caused deaths and severe harm to a few of those who received it. <cmsannotation type="cmsannotation" annotationid="The lawsuits against AstraZeneca" comment="subhead" text="The lawsuits against AstraZeneca">The lawsuits against AstraZeneca</cmsannotation> Families of individuals affected by adverse vaccine reactions continue to pursue legal recourse against AstraZeneca and the Serum Institute of India. <keyword id="21513237" type="General" weightage="20" keywordseo="venugopalan-govindan" source="keywords">Venugopalan Govindan</keyword>, whose daughter Karunya passed away after receiving the Covishield vaccine, expressed his grief and criticised various parties for his daughter's death. He highlighted alleged negligence in responding to early warning signs and cited missed opportunities to prevent tragedies like his daughter's passing. Eight families across India have joined forces to seek justice, emphasising their collective determination to hold accountable those they deem responsible for the tragic loss of their loved ones. Their shared resolve underscores their commitment to achieving justice and preventing similar tragedies from occurring again, he added. In the UK, <keyword id="21472612" type="General" weightage="20" keywordseo="jamie-scott" source="keywords">Jamie Scott</keyword> took legal action last year after suffering from a blood clot and brain bleed following his vaccination in April 2021. AstraZeneca initially denied a causal link between the vaccine and this particular side-effect, but later admitted in court documents that the vaccine could cause TTS in very rare cases. As many as 51 cases have reportedly been filed against AstraZeneca in the British High Court, with affected individuals and families seeking compensation totaling an estimated £100 million. (With inputs from multiple agencies)

AstraZeneca continues to face legal action even after withdrawing its COVID vaccine! Know all about it here

India's GDP growth is projected at 7.2 per cent in 2024-25, around 7 per cent in the next fiscal, and after that, there is a strong likelihood that the growth will revert to the 8 per cent trend, said <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> deputy governor <keyword id="20244361" type="General" weightage="20" keywordseo="Michael-Debabrata-Patra" source="keywords">Michael Debabrata Patra</keyword>. He was speaking at the New York Fed Central Banking Seminar organised by the <keyword id="20238413" type="General" weightage="20" keywordseo="Federal-Reserve-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Federal Reserve Bank" meta.hostid="261" meta.entityid="Federal Reserve Bank">Federal Reserve Bank</keyword> here on Monday. "...I do believe with all the strength of my conviction that India's time has come," he said, and highlighted the country heads into its future with the youngest population in the world with a median age of 28 years. Unlike in many parts of the world, the working age population is growing -- every sixth working age person is an Indian. Patra said that since independence in 1947, India's growth path has undergone three structural shifts with trend growth, having risen to 7 per cent during 2002-2019. After the severe contraction during the pandemic, a new growth trajectory averaging 8 per cent seems to be forming during 2021-24, he said. India is now regarded as the fastest growing major economy in the world. Already the fifth largest economy in terms of market exchange rates, it is poised to become the third largest economy by 2030, the senior RBI official said and added the country is already the third largest economy in terms of <keyword id="20776921" type="General" weightage="20" keywordseo="purchasing-power-parity" source="keywords">purchasing power parity</keyword>. "Our projections show that India's <keyword id="21013593" type="General" weightage="20" keywordseo="real-GDP-growth" source="keywords">real GDP growth</keyword> will be 7.2 per cent in 2024-25 and around 7.0 per cent in 2025-26 in a cyclical correction to the rebound from the pandemic. Thereafter, there is a strong likelihood that India's growth will revert to the 8 per cent trend," Patra said. On inflation, he said it is projected to average 4.5 per cent in 2024-25 and 4.1 per cent in 2025-26. Consumer Price Index (CPI) based inflation fell below target during July-August but rose to 5.5 per cent in September on the back of a pickup in price momentum in some food items and adverse base effects inherent in year-on-year measurement. "Our projection indicates that these price pressures will persist in October and November before headline inflation realigns with the target from December 2024 and remains aligned in 2025-26," the deputy governor said. He also emphasised that India is emerging as a world leader in leveraging <keyword id="20181895" type="General" weightage="20" keywordseo="digital-technologies" source="keywords">digital technologies</keyword> for transformative change.

India likely to grow at 7.2% in FY25, says RBI deputy governor

<ul><li><keyword id="18680128" type="General" weightage="20" keywordseo="qsr-players" source="Orion">QSR players</keyword> that run <keyword id="18680129" type="General" weightage="20" keywordseo="international-restaurant-brands" source="Orion">international restaurant brands</keyword> like <keyword id="58553" type="General" weightage="20" keywordseo="pizza-hut" source="Orion">Pizza Hut</keyword>, <keyword id="6376241" type="General" weightage="20" keywordseo="KFC" source="Orion">KFC</keyword>, Domino’s saw a sharp rise in sales growth in FY22 and FY23.</li><li>Analysts call it the delivery delta where app-driven deliveries of fast food rose after partial opening of lockdowns.</li><li>But that has dipped in the last 2-3 quarters due to a lot of various factors including rising competition, inflation which has dipped consumer sentiment. </li></ul>Fast food helped Indians get over the pandemic blues — as pizzas, burgers and fried chicken helped them survive Zoom calls and kept kids away from trouble. The pandemic was a boom time for quick service restaurants (QSRs) that ran brand chains like Domino’s, Pizza Hut, McDonald’s, Burger King and more. After partial re-opening, the same store sales growth (SSSG) of most of their operators in India was in the range of 35-60% in FY22 – which extended to FY23 as well due to aggressive store openings as well as massive pick up in delivery orders. “Before the pandemic, the delivery orders were less than 15% (of total sales) for most QSRs with the exception of pizzas, which went up to 25-30% during the pandemic — that’s where delta growth came from,” Karan Taurani, research analyst at Elara Capital. <div type="image" title="annual growth data" msid="103448431" hostid="261" caption="&amp;lt;p&amp;gt;Source: Business Insider India &amp;lt;/p&amp;gt;"></div> The ‘new-normal habits’ never stuck — and in the last two quarters most operators like Devyani and Sapphire (KFC and Pizza Hut), Jubilant (Domino’s) saw their SSSG slip into the negative zone with the exception of Westlife (McDonalds) which continues to grow, albeit in lower single digits. The sales slipped further between 1-6% for all the players in Q1, with fried chicken and burgers doing slightly better than pizzas. The slowdown in pizza sales started two quarters ahead — in Q3 itself. “The demand trend in the pizza category has remained challenging as seen in the past few quarters – a combination of high base, relatively higher average order value in the pizza category versus other QSR segments,” says a report by J M Financial. <div type="image" title="qsr" msid="103451765" hostid="261" caption="&amp;lt;p&amp;gt;Source: Business Insider India &amp;lt;/p&amp;gt;"></div> The inflation of competition Apart from a general slowdown, there are structural issues too at play - similar to what <a href="https://www.businessinsider.in/business/corporates/news/small-regional-players-are-increasing-competition-says-hul-ceo/articleshow/102009466.cms">FMCG companies are facing</a>. A report by J M Financial says that both regional and national players are expanding aggressively – denting into their business. “A lot of unorganised competitors who had shut down during the pandemic are now back in business and that’s increasing competition,” says Taurani. With muted sales, only some of the players have been able to take only marginal price hikes in spite of heavy inflation of most of its ingredients in the last few quarters — like cheese and vegetables — leading them to go in for cost controls and better operational management to maintain margins. QSR players, however, believe that this dent in the sentiment is an effect of inflation and most of them expect a reversal in sentiment as well as raw material prices. “High inflation across industries and categories has led to a short-term impact on consumer sentiment and demand in the last few quarters,” said Ravi Jaipuria, the non-executive chairman of Devyani International in the first quarter earnings concall. The company expects demand to pick up from the third quarter onwards. The golden era that wasn’t Sanjay Purohit, group CEO of Sapphire Foods also echoed the same sentiments saying that as inflation stabilises, demand will start to come back. It’s with this confidence, few are moving to change their aggressive store addition plans. Jubilant, Sapphire and Devyani added anywhere between 35-47 new stores during the quarter while Westlife added four new stores. Taurani opines that the number of store additions have slowed down in Q1, and Q2 demand will provide a better picture on the view ahead. “I wouldn't say that the demand situation is very rosy. But in India, the curve is never linear. There will be good quarters, bad quarters, but overall, we are all committed to India's growth and we are all committed to our strategy,” said Saurabh Kalra, managing director of Westlife Foodworld. The QSR sector is a textbook case of the fading effects of the post-pandemic boom on the economy. Most of these companies have chosen to spread their wings in lieu of the fast growth they saw in the last two fiscal years – and it’s yet to be seen if the fast food craze will stand the test of time in an era of higher rentals. (This is the first article in the ‘Boom to Bust’ series which will discuss post-pandemic trends.)

The Quick and the Dead: How fast food players lost their pandemic boom effect

Ever since the virus reared its ugly head and briefly sent the world into despair, the coronavirus has remained a staple, albeit almost sidelined, part of the news cycle. Despite this, the topic has come to the forefront of controversy once again, with an extremely popular <keyword id="20040659" type="General" weightage="20" keywordseo="COVID-19-vaccine" source="keywords">COVID-19 vaccine</keyword> now under scrutiny. Considering that the world is still healing from the scars left behind by the coronavirus tragedy, it is imperative that we gauge the situation to avoid any unwarranted public paranoia. Let’s look at the facts behind the ongoing <keyword id="19910149" type="General" weightage="20" keywordseo="AstraZeneca" source="keywords" meta.keywordsubtype="org" meta.entityname="AstraZeneca" meta.hostid="261" meta.entityid="AstraZeneca">AstraZeneca</keyword> (or <keyword id="19960109" type="General" weightage="100" keywordseo="covishield" source="keywords">Covishield</keyword>, as it is known in India) vaccine controversy, and determine if there really is a cause for worry. <cmsannotation type="cmsannotation" annotationid="What happened?" comment="subhead" text="What happened?">What happened?</cmsannotation> Shortly after receiving the AstraZeneca COVID-19 vaccine in 2021, UK-based <keyword id="21472612" type="General" weightage="20" keywordseo="jamie-scott" source="keywords">Jamie Scott</keyword> experienced a harrowing ordeal. He developed a brain clot and severe bleeding, resulting in permanent brain injury. This condition, known as <keyword id="21475609" type="General" weightage="20" keywordseo="Thrombosis-with-Thrombocytopenia-Syndrome" source="keywords">Thrombosis with Thrombocytopenia Syndrome</keyword> (<keyword id="20218859" type="General" weightage="20" keywordseo="tts" source="keywords">TTS</keyword>), can lead to dangerously low blood clot and platelet levels, posing a grave risk to those affected. Jamie's struggles with memory loss, impaired vision, and diminished cognitive abilities compelled him to seek legal recourse against the pharmaceutical company in 2023. Jamie's legal representative contends that AstraZeneca minimized the potential risks linked to their vaccines. Moreover, reports indicate that over 50 vaccinated individuals experienced similar adverse conditions, with numerous cases resulting in fatalities or severe injuries. Despite these assertions, the pharmaceutical company refutes the allegations, stating that they do not acknowledge a causal relationship between the vaccine and Thrombosis with Thrombocytopenia Syndrome (TTS) on a generic level. However, a year of court wrangling later, legal documents submitted by AstraZeneca have now admitted that their vaccine can cause TTS in very rare cases, although the causal mechanism is still not well known. This revelation has led to renewed uproar against the vaccine’s side-effects. <cmsannotation type="cmsannotation" annotationid="Is there cause for worry?" comment="subhead" text="Is there cause for worry?">Is there cause for worry?</cmsannotation> In short words, not really. Links between the <keyword id="21483117" type="General" weightage="20" keywordseo="AstraZeneca-vaccine" source="keywords">AstraZeneca vaccine</keyword> and vaccine-induced immune TTS have been scientifically identified since early 2021, soon after the first COVID-19 vaccines had come out. However, it is so very rare — a few dozen reported cases among the millions administered — that even the World Health Organisation has deemed the vaccine “safe and effective” for all individuals aged 18 and above. Moreover, even influenza, H1N1 and rabies vaccines can cause TTS in very rare instances. Further, it is important to note that an infection with COVID-19 is itself a major cause for clot, heart attacks and strokes. Being vaccinated actually lowers these risks. There is also the fact that all vaccines or drugs carry potential side-effects, and these medical interventions are only cleared for release after determining that their benefits vastly outweigh any complications. Finally, the <keyword id="21483118" type="General" weightage="20" keywordseo="TTS-side-effects" source="keywords">TTS side-effects</keyword> — which include symptoms such as headaches, blurred vision, chest pain, leg swelling or tiny blood spots under the skin — manifest between 1-6 weeks of vaccination. Considering that most Indians received their Covishield jab a couple of years ago, there should be no reason to panic now. <cmsannotation type="cmsannotation" annotationid="Is it time to consider alternate vaccines?" comment="subhead" text="Is it time to consider alternate vaccines?">Is it time to consider alternate vaccines?</cmsannotation> There is no particular hard evidence that suggests the supremacy of one vaccine over another, considering that they all carry varying degrees of side-effects. That being said, <keyword id="9485939" type="General" weightage="20" keywordseo="covaxin" source="Orion">Covaxin</keyword> boasts a higher efficacy than Covishield, and has better research data among Indian subjects. However, it may also be important to know that the administration of the AstraZeneca vaccine has been discontinued in many countries, mainly due the aforementioned risk of blood clotting in certain age groups. Whatever the choice, the fact of the matter remains that these vaccines have saved millions since their introduction, and it is pertinent that we continue taking them diligently, unless any premier health authorities recommend otherwise.

Should you be worried about the potential side-effects of the Covishield vaccine?

After years of intensified focus on <keyword id="19897423" type="General" weightage="20" keywordseo="COVID-19" source="keywords">COVID-19</keyword>, <keyword id="19992404" type="General" weightage="100" keywordseo="Tuberculosis" source="keywords">tuberculosis</keyword> (TB) has once again emerged as the leading <keyword id="20564668" type="General" weightage="20" keywordseo="infectious-disease" source="keywords">infectious disease</keyword> killer worldwide. This resurgence is a sobering reminder that despite our pandemic response, TB has continued to claim lives, especially in low- and middle-income countries (LMICs), where resources are often stretched thin. According to the latest <keyword id="19896311" type="General" weightage="20" keywordseo="World-Health-Organization" source="keywords" meta.keywordsubtype="org" meta.entityname="World Health Organization" meta.hostid="261" meta.entityid="World Health Organization">World Health Organization</keyword> (<keyword id="19895006" type="General" weightage="20" keywordseo="WHO" source="keywords">WHO</keyword>) report, approximately 8.2 million people were diagnosed with TB in 2023, marking the highest number of cases recorded since global monitoring began in 1995. <h2><keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> and Indonesia</h2>The recent spike in TB cases is largely driven by increases in two countries — India and Indonesia. Together, they accounted for 45% of the global rebound in TB diagnoses between 2021 and 2023, underscoring their critical role in the worldwide fight against TB. Three other countries, the Philippines, Nigeria, and Pakistan, also made significant contributions, collectively accounting for another 32% of the increase. This means that more than three-quarters of the global resurgence in TB can be traced to these five countries alone. One key reason for these increases is the “backlog” effect created by COVID-19 disruptions. During the pandemic, healthcare systems in many countries, including India and Indonesia, had to shift focus to COVID-19, which delayed TB diagnosis and treatment. In 2023, as these countries ramped up recovery efforts, many previously undetected TB cases surfaced, creating an apparent spike in reported numbers. This trend highlights the importance of sustainable healthcare infrastructure capable of handling simultaneous health crises. <h2>Gaps in TB case detection</h2>Despite the daunting increase in TB cases, some countries have made notable progress in <keyword id="23741990" type="General" weightage="20" keywordseo="treatment-coverage" source="keywords">treatment coverage</keyword>. Among the 30 high-burden TB countries, those with the highest levels of treatment coverage in 2023 included Brazil, India, Mozambique, Papua New Guinea, Sierra Leone, Uganda, and Zambia, with coverage rates surpassing 80%. India’s <keyword id="21052657" type="General" weightage="20" keywordseo="national-tuberculosis-elimination-program" source="keywords">National Tuberculosis Elimination Program</keyword> (NTEP) has undoubtedly played a pivotal role in this, aiming to eradicate TB by 2025 — five years ahead of the global target. By focusing on expanded testing, improved diagnostic tools, and more accessible treatment options, India has achieved high treatment coverage levels despite the challenges. <div type="Article" hostid="261" msid="114732986" title="Air Quality Alert: Nearly 30% of asthma cases tied to fine particulate matter exposure from bad air" mstype="2" mssubtype="0"></div>However, a significant treatment gap remains. The difference between estimated TB incidence and actual diagnoses still affects millions, especially in countries with large populations like India, Indonesia, Pakistan, China, and Myanmar. These five nations together account for about 50% of the global gap in reported TB cases, with India alone responsible for 16% of the discrepancy. <h2>India’s unique position in the global TB fight</h2>As the nation with the largest share of global TB cases, India has a unique and critical responsibility in addressing the disease. The high TB burden in India is tied to several factors, including undernutrition, poverty, and limited access to healthcare in rural areas. Moreover, with 26% of all TB cases globally, India’s battle against TB will significantly impact the global fight. The government’s financial support for TB-affected households also aims to reduce the economic burden of treatment. However, challenges remain, especially with <keyword id="22004277" type="General" weightage="20" keywordseo="multidrug-resistant-TB" source="keywords">multidrug-resistant TB</keyword> (MDR/RR-TB). While treatment success rates for MDR/RR-TB have reached 68%, diagnosing and treating all drug-resistant cases is an ongoing challenge. In 2023, India’s coverage of preventive treatment for TB among people living with HIV and close contacts of TB patients also saw improvements, but underfunding continues to limit the full scope of TB elimination efforts. <h2>Global funding gaps</h2>Global funding shortages for <keyword id="21039793" type="General" weightage="20" keywordseo="TB-prevention" source="keywords">TB prevention</keyword> and treatment are a significant hindrance to progress. Only $5.7 billion of the targeted $22 billion in funding was met in 2023, and for LMICs — where nearly all of the TB burden lies — the available funding falls well short of their needs. The United States remains the largest bilateral donor, and contributions from the Global Fund to Fight AIDS, Tuberculosis, and Malaria are crucial. However, these funds are not enough to meet essential TB service requirements, leaving healthcare systems under-resourced. <div type="Article" hostid="261" msid="114646545" title="Doctors struggle to treat long Covid patients in India; researchers point to inadequate studies" mstype="2" mssubtype="0"></div>Even in 2022, only one-fifth of the $5 billion target for research funding was achieved, as per the report. This underfunding hampers the development of improved diagnostics, drugs, and vaccines, which are crucial to TB prevention and treatment. Moreover, many of the drivers of TB are related to social factors, such as undernutrition, smoking, alcohol use, and diabetes, making it imperative to address these root causes. For instance, almost half of the TB-affected households globally face what the WHO calls "catastrophic costs" in seeking treatment. This burden is particularly severe in India, where low-income families often forgo treatment due to financial constraints. As WHO’s Director-General Dr Tedros Adhanom Ghebreyesus puts it, "The fact that TB still kills and sickens so many people is an outrage, when we have the tools to prevent it, detect it, and treat it.” The WHO’s Global tuberculosis report 2024 can be accessed <a href="https://www.who.int/teams/global-tuberculosis-programme/tb-reports/global-tuberculosis-report-2024">here</a>.

Tuberculosis dethrones COVID-19 as world’s top infectious killer again; Half of all new cases from India, Indonesia

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> and Maldives have signed an agreement to introduce the <keyword id="19998949" type="General" weightage="20" keywordseo="Unified-Payments-Interface" source="keywords">Unified Payments Interface</keyword> in the archipelago nation, which will have a "very positive" impact on its <keyword id="20260982" type="General" weightage="20" keywordseo="tourism-sector" source="keywords">tourism sector</keyword>, External Affairs Minister S Jaishankar has said. The Memorandum of Understanding was signed on Friday during Jaishankar's three-day official visit to the Maldives. "Witnessed signing of MoU between (the) National Payments Corporation of India and (the) Ministry of Economic Development and Trade of Maldives on (the) introduction of (a) digital payment system in the Maldives," he said in a post on X. Developed by the National Payments Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>), Unified Payment Interface (UPI) is an instant real-time payment system to facilitate inter-bank transactions through mobile phones. Addressing a press conference with his Maldivian counterpart Moosa Zameer after their "productive discussions", Jaishankar said that India, through its UPI, has "revolutionised digital transactions". Stressing that it has taken financial inclusion in India to new levels, he said "Today 40 per cent of the world's real-time digital payments take place in our country." "We see this revolution, every day in our lives. I am pleased to note that with the signing of the MoU today, we have taken the first step towards bringing this digital innovation to Maldives," he said. "I wish the very best to stakeholders on both sides and hope that we will soon see the first UPI transaction here. I should mention that it will have a very positive impact on tourism," he added. Tourism is the main source of economic activity for the Maldives, contributing nearly 30 per cent of the GDP and generating more than 60 per cent of foreign exchange. Jaishankar's visit aims to reset the bilateral relationship with the Maldives and is the first high-level trip from India after the archipelago nation's pro-China president, Mohamed Muizzu, assumed office last year. "India's partnership with the Maldives is based on our deep desire to work together for each other's welfare and interests. It is a partnership that has enabled us to always swiftly and effectively respond to challenges, as witnessed in the past," Jaishankar said. "It is a partnership that has enabled us to deliver results and bring tangible benefits to our people in accordance with their wishes, aspirations and priorities," he said. In a post on X, Jaishankar also said, "Jointly inaugurated six High Impact Projects in areas of street lighting, mental health, children speech therapy and special education." "Welcome renewal of MoU between National Centre for Good Governance and Civil Services Commission on (the) training of additional 1,000 civil services officers," he added. Addressing the joint press conference, Maldivian Foreign Minister Zameer said, "India has always been one of our closest friends and a vital development partner." He said the "enduring friendship" was built on a foundation of mutual trust and respect and has continued to flourish over the years. "High-level exchanges between our countries have deepened our dialogue and cooperation in areas of shared interest. We remain dedicated to strengthening and advancing this mutually beneficial partnership," he said. "Minister Dr Jaishankar and I agreed that much more needs to be done to promote trade and investment between the Maldives and India," he said, adding that both sides are committed to establishing "effective mechanisms to enhance economic cooperation, fostering a vibrant and prosperous partnership that will benefit both the nations." Zameer said he conveyed President Muizzu's proposal to begin negotiations on a Free Trade Agreement between the Maldives and India. "This agreement alongside other economic and trade-related agreements will facilitate trade liberalisation and ease the risks of doing business in both our countries," he said. Zameer said that India and Maldives have also mutually agreed to further strengthen their partnership by continuing joint exercises and expanding training opportunities for officers from both countries, asserting that this reflects "our commitment to working together to ensure the security of our nations as well as ensuring the safety and stability of the Indian Ocean region." India's relations with the Maldives suffered a major setback last year when President Muizzu demanded the withdrawal of Indian military personnel manning three aviation platforms in the Maldives. Subsequently, the Indian military personnel were replaced by civilians by May 10, the mutually agreed date. "On regional and multilateral issues of importance, our countries have a common understanding and are united in our efforts to resolve them. We agreed to continue our cooperation on issues ranging from combating terrorism, violent extremism, drugs, human trafficking and to the promotion and protection of human rights," Zameer said. In his press statement, Jaishankar said that India and the Maldives "are not just close neighbours, we are also natural partners." "Today, we are mutually invested in each other's development and progress. In a globalised and interconnected world, we see a lot of volatility and global tensions. Even as the world is recovering from the impact of the COVID pandemic, we have been confronted with new challenges arising from international conflicts," he said. In this tumultuous environment, India has been and will be, an anchor of stability for its friends, partners and neighbours. To the Maldives specifically, India has provided support to deal with economic challenges through financial assistance and budgetary support, and by ensuring an uninterrupted supply of critical items, he noted. India's actions have been and will continue to be guided by its firm commitment to the philosophy of 'Sabka Saath, Sabke Vikas - which is- Together, we prosper', Jaishankar said. 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India to introduce UPI payment service in Maldives

New Delhi: <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> has demonstrated a largely successful inflation targeting regime compared to advanced economies such as the USA, Germany, and France, according to a research report by the <keyword id="19934368" type="General" weightage="100" keywordseo="state-bank-of-india" source="keywords">State Bank of India</keyword> (SBI). The report credits government initiatives, the <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>, and banks for addressing these issues over the past decade, allowing for better policy transmission and improved inflation management. "The success of Inflation Targeting in India is largely a byproduct of a vibrant financial ecosystem where <keyword id="23140158" type="General" weightage="20" keywordseo="rbi-government" source="keywords">RBI, Government</keyword> and the Banks are working closely in unison in ushering in market reforms" said the report The report highlighted that India experienced minimal deviations from its inflation targets between 2021 and 2024, setting it apart from other global economies facing greater inflationary challenges. It added that during 2021-2024, India recorded one of the lowest deviations from its inflation targets, highlighting the effectiveness of its inflation control measures. This success, the report points out, is largely a result of coordinated efforts between the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) and the central government. "India had a largely successful inflation targeting regime. Compared to advanced economies like the USA, Germany" said the report. As per the report the synchronization of monetary and fiscal policies, particularly during the pandemic, played a key role in maintaining price stability. It also emphasized that India's pre-inflation targeting regime faced several challenges that hindered the effective transmission of monetary policy. These challenges included sustained fiscal dominance, the presence of a large informal sector, significant informal financing, and inefficiencies in how banks priced their loan products. "Effectiveness of monetary policy in India's pre-Inflation Targeting regime was constrained by several India specific factors that affected transmission of the policy impulses through the interest rate channel" the report added. However, one of the key arguments in the report is that the RBI's inflation targeting has anchored inflationary expectations, even as food inflation remains high. The notion that headline inflation should exclude food prices was dismissed as counterfactual by the report. According to the study, the RBI's success in targeting inflation, despite food price volatility, has prevented a spill-over from food inflation to core inflation. The report stressed that the RBI's consistent communication of its inflation target--set at 4 per cent--has been crucial in successfully anchoring inflation expectations. By reinforcing its commitment to this target, the RBI has helped stabilize inflationary trends across the broader economy. The SBI report reinforces India's effective monetary policy framework, particularly in light of the global inflationary pressures seen in advanced economies like the US and Germany.

India handled inflation much better than US, Germany and France: SBI Report

Data from the <keyword id="19896311" type="General" weightage="20" keywordseo="world-health-organization" source="keywords">World Health Organization</keyword> (WHO) indicates that more than 80% of <keyword id="19897423" type="General" weightage="100" keywordseo="COVID-19" source="keywords">COVID-19</keyword>-related deaths between 2020 and 2021 occurred in people aged 60 and above. Subsequent studies consistently highlighted the increased vulnerability of those over 65 to severe COVID-19 symptoms, and now researchers may have uncovered the reason behind this trend. To comprehend how the corona<keyword id="19994619" type="General" weightage="20" keywordseo="virus" source="keywords">virus</keyword> attacks our bodies, a study investigated the role of our noses, which are the initial point of contact with the virus. Researchers aimed to understand how nasal cells react to the <keyword id="20249557" type="General" weightage="20" keywordseo="SARS-CoV-2" source="keywords">SARS-CoV-2</keyword> virus, hoping to uncover insights for tailored treatment approaches for different age demographics. The study focused on the early impact of SARS-CoV-2 infection on human nasal epithelial cells (NECs). Epithelial cells, abundant throughout our bodies, play crucial roles in bodily functions and protection. Researchers cultured NECs to replicate the nasal cavity's cellular environment and infected them with SARS-CoV-2. Analysing cells from participants across various age brackets, including children (0-11 years), adults (30-50 years), and the <keyword id="19948381" type="General" weightage="20" keywordseo="elderly" source="keywords">elderly</keyword> (over 70 years), the study identified age-specific responses to the virus. Children's NECs quickly increased interferon production upon SARS-CoV-2 exposure, effectively limiting viral replication. In contrast, NECs from older individuals exhibited increased viral replication, accompanied by heightened cell shedding and damage. This disparity may explain why <keyword id="21324937" type="General" weightage="20" keywordseo="older-people" source="keywords">older people</keyword> face a higher risk of severe COVID-19, despite widespread vaccination efforts. Lead author Claire Smith explains, "Our research highlights age-related changes in nasal cells and their impact on our ability to combat SARS-CoV-2 infection. This insight is crucial for developing targeted antiviral treatments, especially for older adults who are at greater risk of severe COVID-19." Understanding age-specific differences in nasal cell response to SARS-CoV-2 could lead to targeted antiviral therapies that boost interferon production in older adults, potentially reducing the severity of COVID-19 and lowering mortality rates in this demographic. Furthermore, the study underscores the importance of considering age as a significant factor in researching and treating infectious diseases. Beyond COVID-19, future studies should explore how <keyword id="19900302" type="General" weightage="20" keywordseo="ageing" source="keywords">ageing</keyword> affects the body's response to other viral infections, informing preventive measures and therapeutic interventions across different age groups. The research findings have been published in Nature Microbiology and can be accessed <a href="http://dx.doi.org/10.1038/s41564-024-01658-1" data-type="tilCustomLink">here</a>.

The ageing of nasal tissues may explain why older people are more affected by COVID-19: research

<div type="image" title="For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire" height="900" width="1200" msid="114064202" hostid="261" caption="&amp;lt;p&amp;gt;For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire&amp;lt;/p&amp;gt;"></div> Once upon a time, there thrived a wild, wild land. Here, it was all about super high monetary stakes, lightning-fast trade deals, and bucketloads of money shifting hands every single second. This wilderness lured millions of individuals with the promise of super duper high returns. But, at what cost? Welcome to the unforgiving, ultra-risky wild west of <keyword id="19991165" type="General" weightage="20" keywordseo="Indian-equity-markets" source="keywords">Indian equity markets</keyword> called the <keyword id="145718" type="General" weightage="100" keywordseo="Futures-and-Options" source="Orion">futures and options</keyword>. Here, everyone seems to just fly right through the bright red-flagged warnings of financial risks to earn even a fraction of these promised returns. Most burn themselves in the process, but carry on nevertheless, as if nothing ever happened. <h2>Chasing the cloudy profits</h2>The data conclusively proves that every 9 out of 10 individuals only lost their hard-earned money in this land. But hey, what do the numbers know? Some hide their losses out of shame, some out of fear. The proponents, meanwhile, proudly boast unusually high returns on their investments, some open social media channels while others encourage their friends and family to take the plunge. Naturally, news of this unstoppable and humongous en-masse migration to the F&amp;O (futures and options) town has reached sheriff <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, galvanising them into action. After all, it was time to put a leash on this madness and save the common man. The inhabitants of this town doubled in the last 2 years, from 51 lakh in FY22 to 96 lakh in FY24—99.8% of whom were small and mid-income traders. But profits? Well, that's a different, rather completely absent story. <h2>Que Sera Sera, much?</h2>A recent report by SEBI (Securities and Exchange Board of India) that studied profits and losses made by traders in the equity derivatives segment between FY22-24 exposed the mad mania of futures and options trading in India, especially since the pandemic. Per the report, 91.1% of individual traders, or about 73 lakh traders had only lost money trading in futures and options in FY24. Between FY 22-24, over 1 crore traders, or about 92.8% of individual traders, had lost Rs 2 lakh each. But once bitten, twice shy? Well, not in this case. More than 75% of individuals, who had only made losses trading in F&amp;O in FY22 and FY23, continued to trade vigorously in FY24 as well, without any changes in the bottom line, which remained deep in red and negative. So, then all these traders must be uber-rich, with tons of cash and not much care to spare? Nope. 76% of traders in the F&amp;O space in FY24 had an annual income of less than Rs 5 lakh. 2 years ago, their share stood at 71%. And their choice of poison? Options! In FY24, 60% of traders made losses trading in futures, but a whopping 91.5% burnt their funds trading in options. Mind you, futures are riskier than options. With futures, which require significant capital investment, the buyer and seller both are contractually bound to adhere to the pre-determined strike price of the futures or options contract, irrespective of whether the prevailing prices are higher or lower (and thus, resulting in losses for either the buyer or seller). With options, since this adherence ain't necessary, individuals end up taking debt to take highly leveraged positions while trading here. <h2>Scale of the explosion</h2>Anyone who trades even infrequently will tell you that a demat account is the mitochondria or powerhouse of the trading cell. As of August 2024, India had over 17.1 crore <keyword id="20957284" type="General" weightage="20" keywordseo="demat-accounts" source="keywords">demat accounts</keyword>, which are a prerequisite for trading in the markets. India is the 9th biggest country in the world, in terms of total demat accounts. Did you know that our demat accounts are at par with the entire population of Bangladesh? Talk about scale! Just 4 years ago, in March 2020, this number was a mere 4 crore. Naturally, the total F&amp;O turnover on both <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and BSE has hit the roof, and also broken it. As of October 4, 2024, the total futures and options turnover on NSE stood at a massive Rs 4,78,27,27,750.30 crore. Good luck counting the thousands! <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Turnover (Both Futures and Options) (In Rs Crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,36,03,951.51 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,69,52,33,134.47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022-23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,82,23,26,468.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023-24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,99,27,67,152.43 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source : NSE Another metric that underlines the meteoric growth of trading in India is the collection of STT or <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword>. As of September 2024, India's STT mop-up had gone past Rs 26,000 crore. Traders have to pay STT whenever they buy or sell any security in the market. So, more trading brings in more STT, and hence, more revenue for the government, so they're not really complaining. After all, this is certainly what they'd call enviable growth. As of August 2023, our STT collection stood at about Rs 21,599 crores. And in FY20-21, India's STT collection had been Rs 16,000 crore. If only our salaries also managed to grow at this rate! <h2>So, what's happening?</h2>Two things. One, it's the big bulls who are raking in all the moolah. And it's the younger lot (those aged under 30) who are propping them up for this. In FY24, 43% of individual traders in the market were less than 30 years of age. In just one year, this number has swelled by 12 percentage points from just 31% of individual traders. But who says ageing is bad? Wrinkles and silver hair seemingly have a propensity of incurring lesser losses in the market. In FY24, only 79% of traders aged above 60 years made losses, as compared to 93% of those aged below 30. Small and mid-income traders, which make up 98% of the total trader base, witnessed average losses per person of Rs 65,000 and Rs 1.5 lakh in FY24 in futures and options, respectively. The winner here? Clearly, the big bulls, who declared an annual income of over Rs 1 crore, ended up with average profits of Rs 96,000 per person this year. <h2>What’s the sheriff up to?</h2>The government has finally swung into action, hiking the STT rate for F&amp;O during this year’s budget. Effective October 1, 2024, the STT on futures stands at 0.02%, up from 0.0125%. For options, it was upped to 0.1% versus 0.0625% previously. Small margins, but huge impact oncoming. Says Puneet Sharma- CEO and Fund Manager at Whitespace Alpha, “SEBI aims to enhance market stability while safeguarding investor interests, reflecting the regulator's intent to balance risk management with market participation”. But this might come with its own share of challenges, too. “Stricter norms around leverage, transparency, and capital adequacy could limit the ability of investors to determine their own risk appetite, thereby stifling innovation in trading strategies. Over-regulation in an environment that thrives on strategic flexibility and creativity could dampen the market’s dynamism, affecting India's competitiveness in the global derivatives landscape”, he observes. SEBI recently came out with a set of guidelines that aim to thwart <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' participation in futures and options and hinder them from taking undue risks. Here's a quick recap of what's to come for the residents of the F&amp;O town Margin Requirements: To battle the high volatility and chaos which is generally seen on expiry days(i.e the last mandated date, post which an option becomes invalid), SEBI will put in place an extreme loss margin (ELM) of 2% for all open short options on the day of expiry. Translation? Traders will need to pony up more cash upfront, leaving them with fewer funds to take on risky bets. It ain't a choice: No more of one expiry every single day! Going ahead, an exchange like BSE or NSE will just be able to offer weekly expiries, that too, only on one benchmark index, as opposed to an entire buffet it currently offers. At present, NSE offers weekly options contracts for its financial index, bank and midcap indices. But say goodbye to this, and hello to derivatives on only 1 index per exchange. Raising the bar: Effective November 30, 2024, the minimum contract value for index derivatives will be upped to Rs 15 lakh, from the present Rs 5-10 lakh. The hope is that by making it ultra-expensive to enter these trades, investors will be dissuaded from taking on risky trades. Pay upfront: Starting February 2025, those trading in options will have to pay the entire options premium upfront, even before their trades are executed. This is because options generally carry very high leverage, and paying a significant sum upfront can force traders to think twice. Invigilation Pro Max: Starting April 1 2025, to make sure that the number of positions for equity index derivatives does not slyly slip over the mandated limit, especially on expiry days when trade volumes are huge, the exchanges will have to take a minimum of 4 position snapshots randomly. The question is, will these injections of sobriety be enough to calm down the steroid-fed bull of the futures and options market in India? Well, only time and market turnover will tell! For more insights into the financial markets and business news, stay tuned to our site and social media handles. And don’t forget to subscribe to Business Insider India’s newsletters for your weekly dose of Simply Put! Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

SIMPLY PUT: SEBI is on a mission to take on the wild, wild west of futures and options in India. Here’s why, what, and how

<ul><li><keyword id="719382" type="General" weightage="100" keywordseo="airbnb" source="Orion">Airbnb</keyword> contributed over USD$920 million to India's GDP and supported over 85,000 jobs in FY2023.</li><li>During these 12 months, Airbnb guests spent a total of $815 million in India, more than double of the 2019 levels.</li><li>Report also explores dispersal of tourism away from urban areas, and long-term stays driven by the emergence of flexible work arrangements since the pandemic. </li></ul> Indians are not done with <keyword id="17097331" type="General" weightage="50" keywordseo="revenge-spending" source="Orion">revenge spending</keyword> it seems. And they are travelling like there is no tomorrow. Research done by <keyword id="637984" type="General" weightage="50" keywordseo="oxford-economics" source="Orion">Oxford Economics</keyword> has found that Indians spent a total of $815 mn on stays at Airbnb in the financial year gone by. Not just this, the platform for homestay has contributed over $920 million to India’s Gross Domestic Product and supported over 85,000 Indian jobs over 12 months ending March 2023. The GDP contribution and jobs supported in India has more than doubled since 2019, the year before the COVID-19 pandemic struck resulting in lockdowns and international border restrictions. The report also highlighted the powerful multiplier effect Airbnb guest spending has within local communities. In 2022-23, Airbnb guests spent a total of $815 million in India in areas like purchases on transportation, restaurants, retail stores, and retail stores. The spending has more than doubled from 2019 levels. In India, Airbnb’s presence was the highest in <keyword id="826" type="General" weightage="20" keywordseo="goa" source="Orion">Goa</keyword>, where Airbnb guests spending amounted to almost $190 million, this was followed by Bangalore and Delhi, Mumbai and Manali. It details the significant contribution made by Airbnb guests to domestic tourism across the nation. In 2022-23, domestic Airbnb guest spending totalled $670 million, and accounted for approximately 82% of total Airbnb guest spend in India, around a three-fold increase from 2019. The report also explores two profound changes in travel behaviour since the pandemic: the dispersal of tourism away from urban areas, and long-term stays driven by the emergence of flexible work arrangements. James Lambert, Director for Economic Consulting in Asia for Oxford Economics said, Airbnb has clearly played a major role in the resilience and rebirth of the Indian travel and tourism sector in the wake of the Covid-19 pandemic. “Airbnb has been at the heart of some of the trends reshaping the nation’s travel and tourism industry, including the shift in travel away from cities and towards more rural communities, and the increase in demand for long-stay trips, exemplified by the live and work anywhere phenomenon, Lambert said. Amanpreet Bajaj, Airbnb’s General Manager for India, Southeast Asia, Hong Kong and Taiwan said, “Travel is now more dispersed, and so the economic benefits are being shared across more destinations, enabling a valuable economic contribution to rural and regional areas. This dispersal is being driven by Hosts on Airbnb and in turn creating economic opportunities for various communities. The report explores the twelve months to March 2023 — representing a year since travel restrictions started to be removed across India.

Travel Boom: India spends 2X of pre-pandemic level on Airbnb with Goa leading the charge

<ul><li>As many as 848 of India’s top 1,820 infrastructure projects or 46.6% are facing delays, says government data.</li><li>On an average, the overall delay across these projects is 36.59 months, says IPDM data.</li><li>Road and transport sector has the highest share of delayed projects, with railways coming in second. </li></ul>As many as 848 of India’s top 1,820 infrastructure projects are facing delays, says data by Infrastructure and <keyword id="20593085" type="General" weightage="20" keywordseo="project-monitoring-division" source="keywords">Project Monitoring Division</keyword> (<keyword id="20593086" type="General" weightage="20" keywordseo="ipmd" source="keywords">IPMD</keyword>) under the Ministry of Statistics and Programme Implementation. Even as 46.6% of infra projects are facing delays as of January 2024, there has been a significant improvement since the beginning of FY24. As of March 2023, the ratio of delayed projects to total projects was much higher at 56.7%. While the data shows that more projects are progressing at a faster rate now than they did last year, there is much to catch up to. Before the pandemic, the ratio of delayed projects was at 32.6%. “The above analysis shows that while time delays in infrastructure projects have declined relative to March 2023, it still remains high when compared with the pre-pandemic period. This suggests that some of the effects of the pandemic still linger on,” said <keyword id="20593084" type="General" weightage="20" keywordseo="aditi-gupta" source="keywords">Aditi Gupta</keyword>, economist at Bank of Baroda (<keyword id="19997299" type="General" weightage="20" keywordseo="bob" source="keywords">BoB</keyword>). On the bright side, 618 projects are on schedule and 56 projects are ahead of schedule, says BoB data. The IPMD monitors the progress of high value infrastructure projects that cost over ₹150 crore. In the slow lane: Road sector has most delays Road transport and highways sector has the highest share in the total number of delayed projects. Half of the delayed projects are in the transport sector, but it also has a high number of projects, at 1,021. Railways comes a distant second with 12.4% share in delayed projects, but the extent of their delays range from 3 months going as high as 255 months. In the case of road projects, the range of delays is anywhere between 1 month and 131 months. As many as 32% of projects are showing delays between 25-60 months. A total of 123 projects are experiencing a delay of more than 60 months. The overall delay in the 848 projects is 36.59 months on an average. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Projects under monitoring </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delayed projects as % of total delayed projects </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Range of Time overruns (in months) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Road transport and highways </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1-131 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Railways </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">250 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3-255 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Petroleum </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">157 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1-143 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">124 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12-156 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">98 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1-193 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">170 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td></tr></tbody></table>Source: Infrastructure and Project Monitoring Division, MOSPI, Bank of Baroda Research A significant number of projects are also showing cost overruns. The cost of the 1,820 projects under monitoring stands at ₹30.7 lakh crore. That’s 18.7% above the original cost which was ₹25.9 lakh crore. “Interestingly, there has been a significant reduction in cost overruns of infrastructure projects since March 2023, when the cost overrun stood at 22%. Even when compared with the pre-pandemic period (19.4% in January 2020), the cost overrun is lower,” said Bank of Baroda. The period just after the pandemic saw the highest cost overrun. The phase of reopening along with the Russia-Ukraine war led to a sharp increase in input prices in this period. “With a correction in the global commodity prices, the cost overrun is also trending lower,” said <keyword id="19983550" type="General" weightage="20" keywordseo="gupta" source="keywords">Gupta</keyword>. The Indian government has increased its capital expenditure outlay by 11.1% in the 2024 Interim Budget. A year before, it had increased its capex expenditure outlay by 37.4 % in 2023-24 to ₹10 lakh crore.

Pandemic speed bump still haunts infra projects even as gears shift

<ul><li>Young adults, less than 30 years old, showed significant changes in their behaviour after Covid, a study says.</li><li>“They have become moodier and more prone to <keyword id="23666" type="General" weightage="20" keywordseo="stress" source="Orion">stress</keyword>, less cooperative, and trusting, and less restrained and responsible,” a study said.</li><li>According to a <keyword id="481941" type="General" weightage="20" keywordseo="who-report" source="Orion">WHO report</keyword>, there was at least 25% rise in depression and anxiety cases within young people.</li></ul>26-year-old Ishaan Bilala, who works as a senior consultant at EY, has noticed that he has become irritable and his tolerance level has severely gone down during the pandemic. Bilala was a regular young professional enjoying the perks of a corporate life at Gurgaon with his colleagues, before Covid and the lockdowns struck. Forced to work remotely, he felt that his social growth was severely impacted. “If you don’t expose yourself to people, you will become unsociable,” Bilala told Business Insider India. However, these changes have gotten better as offices have opened up, he added. We have known that Covid-19 has had a deep impact on physical and mental well-being of people. Now, evidence is emerging that it may have affected our personalities as well, especially in Gen Zs and millennials. <cmsannotation type="cmsannotation" annotationid="Younger adults turned moodier, says study" comment="subhead" text="Younger adults turned moodier, says study">Younger adults turned moodier, says study</cmsannotation> According to a study published in <a href="https://timesofindia.indiatimes.com/life-style/health-fitness/health-news/coronavirus-study-links-personality-changes-in-young-adults-to-covid-19/photostory/94615467.cms?picid=94615490">PLOS One Journal</a>, more young people have seen several changes in their personalities since the Covid pandemic. “Younger adults became moodier and more prone to stress, less cooperative, and trusting, and less restrained and responsible,” the study said. This study included more than 7,000 participants from the US, aged between 18 and 100, who were assessed before the pandemic (from 2014 onwards), early in the pandemic in 2020, and then later in the pandemic in 2021 or 2022. The researchers found significant declines in extroversion, openness, agreeableness and conscientiousness in 2021 and 2022 compared before the pandemic. Doctors too say that they have seen a significant rise in the number of people who don't want to be as social as they used to be before the pandemic. “We have seen people – who were earlier pushing themselves to meet and engage with other people – now believing in keeping only meaningful relationships as Covid-19 broke the cycle of going out and being socially active,” Dr Kamna Chhibber, a clinical psychologist and head-mental health and behavioural sciences at Fortis Healthcare, said. <cmsannotation type="cmsannotation" annotationid="Mood swings, loneliness and frustration" comment="subhead" text="Mood swings, loneliness and frustration">Mood swings, loneliness and frustration</cmsannotation> According to Dr Vachna K, consultant psychiatrist at Apollo Clinic, Bengaluru, a lot of mood swings, loneliness, frustration and poor tolerance were also observed in people during Covid. Aman Khandelwal, a 23-year-old pursuing his CA finals, said that he had started having a lot of mood swings lately. He had also noticed his concentration level had gone down significantly, affecting his preparations for his exams in November. “Before Covid, my concentration level was much higher than what it is now. And this is making me more irritated and frustrated all the time. I’ve become so moody lately and this is hampering my studies a lot,” Khandelwal said. According to a WHO report, there was at least 25% rise in depression and anxiety cases within young people in 2020, as compared to 2019. However, doctors say this is not limited to teenagers and young adults alone. “Middle-aged adults between 30-64 years also showed changes while the oldest group of adults showed no statistically significant changes in their behaviour. These changes, whether they are temporary or permanent, are not known yet,” Dr Vachna told Business Insider India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/telecom-sector-to-ring-in-stability-in-q2-jio-and-airtel-expected-to-grow-stronger-vi-weaker/articleshow/94709309.cms">Telecom sector to ring in stability in Q2 – Jio and Airtel expected to grow stronger, Vi weaker</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/dengue-cases-in-bengal-shot-up-by-20000-in-a-month/articleshow/94741179.cms">Dengue cases in Bengal shot up by 20,000 in a month</a>

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