India's Hajj quota for 2023 fixed at 1,75,025: Smriti Irani

New Delhi, Mar 23: India logged 1,300 new coronavirus cases, the highest in 140 days, while the active cases have increased to 7,605, according to the Union Health Ministry data updated on Thursday.

The death toll has increased to 5,30,816 with three deaths. One death each has been reported by Karnataka, Gujarat and Maharashtra, the data updated at 8 am stated.

The daily positivity was recorded at 1.46 per cent while the weekly positivity was pegged at 1.08 per cent.

The Covid case tally was recorded at 4.46 crore (4,46,99,418).

The active cases now comprises 0.02 per cent of the total infections, while the national Covid-19 recovery rate has been recorded at 98.79 per cent, the ministry said.

A total 92.06 crore tests for detection of Covid has been conducted so far with 89,078 tests being conducted in the last 24 hours.

The number of people who have recuperated from the disease surged to 4,41,60,997, while the case fatality rate was recorded at 1.19 per cent. 

According to the ministry's website, 220.65 crore doses of Covid vaccine have been administered in the country so far under the nationwide vaccination drive. 

New Delhi, Mar 19: Adani Group has suspended work on a Rs 34,900 crore petrochemical project at Mundra in Gujarat as it focuses on resources to consolidate operations and address investor concerns following a damning report by a US-based short seller, sources said.

The group's flagship Adani Enterprises Ltd (AEL) had in 2021 incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in Kutch district of Gujarat.

But after Hindenburg Research's January 24 report alleging accounting fraud, stock manipulations and other corporate governance lapses chopped off about $140 billion from the market value of Gautam Adani's empire, the apples-to-airport group is hoping to claw back and calm jittery investors and lenders through a comeback strategy.

The comeback strategy is based on addressing investor concerns around debt by repaying some loans, consolidating operations, and fighting off allegations.

The group has denied all allegations levelled by Hindenburg. As part of this, projects are being re-evaluated based on cashflow and finance available.

And of the projects the group has decided not to pursue for the time being is the 1 million tonne per annum Green PVC project, two sources with knowledge of the matter said.

The group has shot off mails to vendors and suppliers to "suspend all activities" on immediate basis.

In the mails, seen by PTI, the group has asked them to "suspend all activities of the scope of work and performance of all obligations" for Mundra Petrochem Ltd's Green PVC project "till further notice."

This is the following "unforeseen scenario". The management, it said, was "re-evaluating various project/s being implemented at group level in different  business verticals. Based on future cashflow and finance, some of the project/s are being re-evaluated for its continuation and revision in timeline."

Reached for comments, a group spokesperson said AEL will be evaluating the status of growth projects in primary industry vertical over the coming months.

"The balance sheet of each of our independent portfolio companies is very strong. We have industry-leading project development and execution capabilities, strong corporate governance, secure assets, strong cashflows, and our business plan is fully funded. We remain focused on executing our previously outlined strategy to create value for our stakeholders," the spokesperson said.

"AEL will be evaluating the status of growth projects in the primary industry vertical over the coming months".

The unit was to have a poly-vinyl-chloride (PVC) production capacity of 2,000 KTPA (kilo tonne per annum) requiring 3.1 million tonne per annum (MTPA) of coal that was to be imported from Australia, Russia and other countries.

PVC is the world's third-most widely produced synthetic polymer of plastic. It finds wide applications - from flooring, to making sewage pipes and other pipe applications, in insulation on electrical wires, packaging and manufacture of aprons etc.

Adani Group had planned the project as PVC demand in India at around 3.5 MTPA was growing at the rate of 7 per cent year-on-year. With near stagnant domestic production of PVC at 1.4 million tonne, India is dependent on imports to keep pace with the demand.

The Hindenburg report had alleged "brazen stock manipulation and accounting fraud" and use of offshore shell companies to inflate stock prices. The group has denied all Hindenburg allegations, calling them "malicious", "baseless" and a "calculated attack on India".

As part of the comeback strategy, the group has cancelled a Rs 7,000 crore coal plant purchase as well as shelved plans to bid for stake in power trader PTC to conserve expenses. It has repaid some debt and pre-paid some of the finances raised by pledging promoter stake in group companies.

New Delhi, Mar 18: Food supply in India and across the globe will go down by at least 6 per cent by 2050 as water crisis and heat stress caused by climate change will hit productivity, the Global Commission on Economics of Water (GCEW) has warned.

The commission is convened by the Government of the Netherlands and facilitated by the Organisation for Economic Co-operation and Development (OECD). Its latest report used a large dimensional computable general equilibrium model to project impacts on global irrigated food production and food security.

Food supply decreases were projected for two climate change scenarios or representative concentration pathways (RCP) based on the intensity of the greenhouse gas emissions. The optimistic RCP 4.5 based on drastic cut in emissions and RCP 8.5 the worst-case scenario. The model used 2014 as base year.

"Even under the best-case climate change scenario of RCP4.5, most African countries experience an increase in people with severe food insecurity by more than one third," the report 'The What, Why and How of the World Water Crisis' said.

The "best case" scenario for India meant a 6.52 per cent fall in food supply while it was 16.1 per cent in the worst case scenario. In China, it was 8.97 per cent and 22.4 per cent, respectively while the fall in the US was pegged at 4.8 per cent and 12.6 per cent.

Food insecurity affects 72-81 crore people globally and is linked to water insecurity. The fall in production, the study said, will push 100 crore people into severe food insecurity, the report said.

In another report titled 'Turning the Tide', the GCEW issued a seven-point agenda for collective action: managing global water cycle with just and equity, adopt outcomes-focussed approach to water conservation, cease underpricing water, phase out subsidies in agriculture and water, establishing just water partnerships, fortifying freshwater storage systems and reshape the multilateral governance of water.