The sudden stop in economic activity led to a sharp decline in employment-intensive sectors like construction, manufacturing and trade, hotels, transport etc.
The Finance Ministry on Friday said the CSO has underestimated GDP growth rate for current financial year and exuded the confidence that economic expansion will exceed 5.5 per cent.
Finance Ministry had pegged the growth at 5.7 per cent and RBI at 5.5 per cent.
Declining vegetable prices brought down the retail inflation to a 15-month low of 4.59 per cent in December and within the comfort zone of the Reserve Bank, government data showed on Tuesday. It is for the first time during the current fiscal that the Consumer Price Index (CPI) based inflation print is below 6 per cent or in the RBI's target range of 2 to 6 per cent. The central bank factors in the CPI-based inflation while arriving at its monetary policy. The inflation in December 2020 came down from 6.93 per cent in November, mainly on account of 10.41 per cent decline in vegetable prices over the year-ago period.
Employment in nine selected sectors, including construction, manufacturing and IT/BPO, was at 3.08 crore in the April-June quarter of 2021-22, reflecting a growth of 29 per cent compared to 2.37 crore reported in the Economic Census of 2013-14, according to a survey. Labour and Employment Minister Bhupender Yadav on Monday released the report of Quarterly Employment Survey (QES) part (April to June 2021), of the All-India Quarterly Establishment-based Employment Survey (AQEES) prepared by the Labour Bureau. Announcing the results, Yadav said the estimated total employment in the nine selected sectors from the first round of QES is 3 crore and 8 lakh approximately against a total of 2 crore and 37 lakhs in these sectors taken collectively, as reported in the sixth Economic Census (EC 2013-14) reflecting a growth rate of 29 per cent.
When FM was that the third-quarter GDP data was not in line with his ministry's optimism, he had said he relied on the advice of his advisors.
The Reserve Bank's growth projection for next financial year is lower than 8-8.5 per cent projected by the finance ministry in the recent Economic Survey which was tabled in Parliament on January 31. Unveiling the bi-monthly policy, RBI governor Shaktikanta Das said, "Recovery in domestic economic activity is yet to be broad-based, as private consumption and contact-intensive services remain below pre-pandemic levels."
The NPR data will be used for schemes such as Ayushman Bharat, Pradhan Mantri Awas Yojana, Ujjvala and Saubhagya for identifying the intended beneficiaries.
'A growth of above 7 per cent when the fundamentals of the economy are becoming stronger still makes India the fastest growing large economy.'
There should have been a focus on sanitation and not on littering or garbage. Absence of sanitation affects the health of children, explains Aakar Patel.
'We completed Rs 17 trillion worth of projects in the first term and currently Rs 9 trillion worth of contracts are under construction.'
India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand. The gross domestic product (GDP) had contracted by a record 23.9 per cent in the first quarter of the 2020-21 fiscal (April 2020 to March 2021) as the coronavirus lockdown pummelled economic activity.
A higher cumulative penalty will be levied for not sharing data, say officials. However, criminal charges will be pressed in cases where manipulation of data is involved, they say. Under the new Act, people or companies not divulging data would have to pay a fine of Rs 1,000 and they would be given a 14 day notice period to comply. If the information is not provided even after two weeks, the penalty will rise to Rs 5,000 per day.
'The situation is especially serious in major hotspot districts or emerging hotspots like Ahmedabad and Surat (Gujarat), Thane (Maharashtra), Hyderabad (Telangana), and Chennai (Tamil Nadu),' the MHA statement said.
Piyush Goyal, who held the post of finance minister when Arun Jaitley was undergoing treatment, told the Confederation of Indian Industry's annual session: "All stakeholders, including the RBI, should introspect on their respective roles (on low economic growth)."
Rediff.com's data journalists have visualised the National Sample Survey Office (NSS 66th round, July 2009-June 2010 and 68th round, July 2011-June 2012) data into an interactive map.
Experts said a dip in consumption expenditure indicated an increasing prevalence of poverty in the country.
In the third reshuffle since coming to power, Prime Minister Modi raised the strength of his Council of Ministers from 73 to 76.
Your friendly postman, besides delivering letters, could soon be collecting crucial data on consumer prices, if a proposal from the Union ministry of statistics and programme implementation is accepted by the Department of Posts.
Rediff.com's data journalists have broken down the National Sample Survey Office 68 round (July 2011- June 2012) report data into a state-wise listing.
In a paper, EAC-PM accused Subramanian of "cherry-picking high-frequency indicators" to express his skepticism about the growth rates after 2011-12.
Rediff.com's data journalists have broken down the National Sample Survey Office 68 round (July 2011- June 2012) report data into a state-wise listing.
Many medical experts feel that the nation would have fared far worse without the lockdown.
Prime Minister Narendra Modi on Saturday offered prayers at a Matua temple in Bangladesh's Orakandi, the birthplace of Hindu mystic figure and Matua community's spiritual guru Harichand Thakur.
Citing the latest statistics from Eurostat, the ministrysaid trade between China and the European Union totalled Euro35.6 billion ($49.4 billion) in July, allowing the countryto overtake the US.
The move aimed at blunting Finance Ministry, RBI's opposition to monthly reporting.
Consumer durables shrank year on year, which could suggest to observers that spending confidence is yet to return to the economy.
Among other things, the agenda is likely to focus on increasing private investment, employment generation and giving relief to the farm sector
The implementation of four labour codes in one go from April 1 next year will usher in a new wave of reforms in industrial relations and also help in attracting more investments but employment generation will remain a key challenge in 2021. This year has also been a challenging year for the work force as well as for employers due to the outbreak of the COVID-19 pandemic. The government imposed a nationwide lockdown from March 25, which had an adverse impact on economic activities and resulted in exodus of migrant workers from large cities to their homes in the hinterland. Many migrant labourers lost their jobs and it took months for them to return back to their work places from their native places.
As many as 33,356 incidents of rape were reported during 2018 involving 33,977 victims, an average 89 rapes daily. In 2017, 32,559 rape cases were registered, while in 2016 the number stood at 38,947, the data stated. Overall, 72.2 per cent of rape victims were above 18 years and 27.8 per cent below 18, the data stated.
With registration of over three lakh FIRs, Uttar Pradesh topped the crime list in the country, followed by Maharashtra, Madhya Pradesh, Kerala and Delhi, according to the latest data released by the National Crime Records Bureau for 2017.
It is human error, which cannot be completely avoided in complex data like the Index of Industrial Production (IIP), says T C A Anant.
Slowdown in industrial production notwithstanding, a marginal increase in inflation raised the clamour for another round of rate cut by the Reserve Bank on April 4 to boost economic activity.
A BJP source admitted that a census will inevitably reconfirm the numerical majority of the OBCs. 'That will overturn social equations and consign the upper castes to a twilight zone of marginalisation. The RSS won't accept it.' Radhika Ramaseshan reports.
In the last five years, imports from HK have more than tripled -- from $5.6 billion in FY15 to $17.1 billion in FY20. In the same period, exports declined by 20 per cent -- from $13.6 billion in FY15 to $10.8 billion (annualised) in FY20.
The NSSO had enumerated 79,306 households in rural areas and 45,374 in urban regions.
Some of the reasons for time overruns were delay in land acquisition, delay in forest clearance, Maoist activities, law and order, delay in supply of material.
Given the rapid changes in the Indian labour market, there is an urgent need to have current, accurate and publicly available data through regular, dynamic and comprehensive surveys. Indeed, this was the intention behind constituting the NITI Aayog Task Force on Improving Employment Data. The attempts by the government to "improve" labour data has actually made it worse, say Rosa Abraham, Janaki Shibu & Rajendran Narayanan.
In an alarming trend, more than 2,500 people have been killed in incidents of communal violence in the country since 2002, out of which 107 lost their lives this year alone.
