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Earthquake hits Afghanistan, tremors felt in Delhi-NCR, Himachal, J&K

A magnitude 6.2 earthquake struck today afternoon in Tajikistan near the Afghanistan border, sending tremors that were felt in Pakistan and parts of north India.

Most of Jammu and Kashmir, including capital Srinagar, the Kashmir Valley and areas in Jammu, as well as Himachal Pradesh’s Khajjiar, Kulli and Shimla experienced tremors. Some impact was also felt in New Delhi and its surrounding areas of Gurgaon and Noida.

According to the United States Geological Survey, the epicentre of the earthquake was on the Afghanistan-Tajikistan border region. The earthquake shook buildings in the Afghan capital Kabul, but there were no immediate reports of damage or casualties, reported a source.

“Earthquake of magnitude 6.2 hit Afghanistan-Tajikistan-Pakistan region. Light tremors were felt in parts of northern India, including Delhi & Kashmir,” USGS reported.

No casualty or injury was reported from any of the regions.

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Indian economy coming out of twin shock of DeMo and GST: India Ratings

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Kolkata: The Indian economy is gradually coming out of the twin shock of demonetisation and GST which temporarily derailed growth, India Ratings said.

The ratings agency, however, cautioned on the possible widening of the current account deficit (CAD) due to rising oil prices which was creating pressure on the currency.

“Our research has shown that major macro parameters like manufacturing, capital goods production, non-food credit and consumption are showing signs of recovery,” India Ratings chief economist Devendra Pant told PTI.

On the monetary side, areas of concern are rising bond yields which indicate potential slippages on the fiscal front, he said.

“Things are improving now. If things behave as they are now and the policy remains conducive, growth in current fiscal is expected to be 7.4 per cent”, Pant said.

He said it was unlikely that the government would go ahead with big bang reforms due to the 2019 Lok Sabha elections.

If the CAD remained within three per cent, then it would not be alarming for the economy provided capital inflows were in excess of outflows caused by high oil import bill.

“In that case, the rupee will have an appreciating bias” he said.

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