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US can see zero Q1 growth due to shutdown: WH adviser
Washington, Jan 24 (IANS) A top White House economic adviser has said that the country could see zero growth in gross domestic production in the first quarter due to the ongoing partial government shutdown.
Asked whether it could lead to no growth of the country’s economy in Q1 in case it continued beyond March, Kevin Hassett, chairman of White House Council of Economic Advisers told CNN on Wednesday said: “Yes, it could.”
“It is true that if we get a typically weak first quarter and then have an extended shutdown, we could end up with a number that is very very low,” Hassett said.
However, he said that he expected the economy to bounce back when the government reopens, and that the number for the second quarter would be “humongous” if the government shutdown ends by then.
The growth rate “would be like 4 or 5 per cent,” Xinhua quoted Hasset as saying.
Adopting an optimistic tone about the current status of the overall US economy, Hassett said the US is “at a time in the business cycle that is especially good for people who have been separated from society and disadvantaged by the weak economy of the Great Recession”, and right now the income at the lower end of the society is growing faster than for people as a whole.
With respect to the furloughed federal employees who have missed their paycheques amid the shutdown, Hasset said that he himself and his staff were “dealing with the very very difficult problem” of not getting a paycheques.
Since the shutdown began on December 13, Hasset said one of his staffers has started driving for Uber since that’s the only way he can pay his bills and feed his family.
The partial government shutdown, triggered by a partisan impasse over President Donald Trump’s demand for funding of a border wall with Mexico, has been affecting some 800,000 federal workers and has now stretched to the 33rd day, eclipsing all previous closures.
“I think if people are not getting paid and they face the kind of uncertainty that we are putting them under — and we did it 22 times in a couple of decades — we’ve got a political system that’s not fundamentally serving us,” Hassett said.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.