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May 6, 2021 Share A senior Indian government scientific adviser warned Wednesday that a third wave of coronavirus infections would sweep the country as it struggles with the devastating effects of the current wave that officially claimed nearly 4,000 lives in the course of one day. The government’s principal scientific adviser, K. Vijay Raghavan, issued the warning as the World Health Organization said in its weekly report that India accounted for almost half the cases reported globally last week and about a quarter of all fatalities. “Phase 3 is inevitable, given the high levels of circulating virus,” Raghavan told a news briefing in New Delhi. “But it is not clear on what timescale this phase 3 will occur … We should prepare for new waves.” ....
RBI Governor Shaktikanta Das. (Vipin Kumar/Hindustan Times via Getty Images) India s Reserve Bank will initiate measures to combat economic turbulence unleashed by the resurgence of Covid-19. In virtual address, RBI Governor Shaktikanta Das announced a number of liquidity enhancement and targeted measures to ease the build of economic strain seen recently. Accordingly, RBI will conduct the second purchase of G-Secs worth Rs 35,000 crore on May 20. Besides, RBI announced a targeted on-tap liquidity window of Rs 50,000 crore to set up Covid-related healthcare infra. Under this liquidity window of Rs 50,000 crore vaccine makers, hospitals, oxygen suppliers among other healthcare stakeholders would be able to get loans at the repo rate till 31 March 2022. These loans will be classified under priority sector lending. ....