The Madras high court on Tuesday rejected a plea from mining giant Vedanta to order reopening of its Sterlite copper unit at Tuticorin in Tamil Nadu.
The Seventh Pay Commission had decided to choose the CPI-IW as the index for adjusting inflation for central government employees.
The figure is expected to rise to 25-30 per cent, adding around 100 million new cellular subscribers by 2009, according to a recent study by LIRNEasia and AC Nielson.
No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.
Women and children have been given short shrift with these crucial sectors facing substantive budgetary cuts, discovers Rashme Sehgal.
"The final estimates in agriculture are much higher. It could be 3.5 per cent in the revised estimates," statistics and programme implementation secretary Pronab Sen said on Thursday, a day ahead of release of GDP growth figures for FY'08.
China's inflation rate rose to 8.5 per cent in April, bouncing back to hover near 12-year highs, bringing more pressure on government to tame rising prices, identified by it as the "biggest concern".The Consumer Price Index (CPI), main gauge of inflation, rose 8.5 per cent from 8.3 per cent in March and remained close to a nearly 12-year monthly high of 8.7 per cent recorded in February, the National Bureau of Statistics said.
The wholesale price-based inflation accelerated to a record high of 12.94 per cent in May, on rising prices of crude oil and manufactured goods. Low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent. This is the fifth straight month of uptick seen in the wholesale price index (WPI)-based inflation. In April, 2021, WPI inflation hit double digit at 10.49 per cent. "The annual rate of inflation, based on monthly WPI, was 12.94 per cent for the month of May, 2021 (over May, 2020) as compared to (-) 3.37 per cent in May 2020.
The lockdown in India has been a timely, graded, proactive and pre-emptive public health measure to fight the COVID-19 pandemic and has been part and parcel of the government's overall strategy, Dr V K Paul, Member (Health), NITI Aayog, and Chairman, Empowered Group 1, said at a media briefing on the COVID-19 situation.
Risk aversion is currently a dominant depressant to economic recovery, points out Shankar Acharya, former chief economic advisor to the Government of India.
Active cases stand at 1,45,779, while 1,54,329 people have recovered and one patient has migrated. "Thus, around 49.9 per cent patients have recovered so far," a ministry official said.
The survey covered 47,535 households in rural areas and 36,065 households in urban areas.
Maybe the new methods of measuring GDP helped us get an accurate picture.
The economy has shown sharp resilience in the past and has also bounced back in good time. We could hence expect a similar trajectory next year, observes Madan Sabnavis, chief economist, CARE Ratings.
'India's economy is growing faster compared to the developed economies of the world.' 'More importantly, it is growing faster compared to most of the developing economies.' 'The monsoon is not the only thing that drives the rural economy and certainly not the national economy.' 'It is too simplistic to reduce everything to the monsoon.'
In 2015, the Reserve Bank of India cut interest rates by 125 basis points to 6.75 per cent.
India's unemployed, the report said, were mostly those with higher education degrees and the young.
The Centre on Saturday strongly advised 12 states and Union Territories reporting a surge in coronavirus cases to significantly increase testing and ensure people follow COVID-appropriate behaviour, noting that one infected person could spread infection to an average of 406 individuals in a 30-day window without restrictions.
'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.
If government statistics are at variance with private data flow, chances are high that the latter presents a picture closer to reality.
Stressing the need to make evidence-based policy formulation an integral part of governance, the prime minister said auditors must resort to technical tools to iron out any chances of fraud in organisations and give a new identity to new India.
For those who are sceptical about using debit or credit cards, even when faced with cash crunch, Adhil Shetty, CEO of BankBazaar.com, lists out a few safe cashless options that can be exercised through mobile phones.
China's GDP took the worst hit since the disastrous Cultural Revolution in 1976, plummeting by 6.8 per cent in the first quarter of 2020 as the country took unprecedented measures to fight the coronavirus pandemic that brought the world's second largest economy to a standstill. China's gross domestic product stood at 20.65 trillion yuan (USD 2.91 trillion, approx) in the first quarter of 2020 amid the Covid-19 impact, down 6.8 per cent year on year, China's National Bureau of Statistics (NBS) said on Friday.
While Prime Minister Modi grapples with serious matters of State so very successfully, may I urge that he focus just a bit of attention on the economy, says Manoj Mohanka.
Consumption was the major driver, contributing 58.8 per cent to GDP growth
India's monthly per capita income, the measure of standard of living, is likely to be at Rs 7,378.17.
This time there has been a rather peculiar criticism of the latest GDP numbers.
Some of the disclosures in the ITR form, under review at present, increases procedural hassles for expats
Clearly, the extra borrowing of Rs 4.2 trillion the government has planned so far will not be enough to meet the shortfall in revenues which could be between Rs 8 trillion and Rs 10 trillion, points out A K Bhattacharya.
The National Highways Authority of India will this year witness the highest ever growth out of the last decade. But Gadkari himself admits his biggest failure as India's roads minister has been his inability to curb loss of life in road accidents.
The previous high GDP growth of 8.1 per cent was recorded in April-June quarter of 2016-17.
New filers reported an average income, in many cases, close to the income tax threshold of Rs 250,000, limiting the early revenue impact.
'The question is, how soon we can expect to re-attain the pre-lockdown levels of output and income.'
The independent institute advising the PM on jobs seems to have missed the point that the challenge is to create net additional jobs, says Mahesh Vyas.
Softening inflation, Das said would make available more policy space to the central bank to address risks to the growth going forward.
'If we vaccinate quickly, it could be pushed to January, February, and the longer it can be pushed, the smaller the wave is likely to be, because by that time vaccination will scale up.'
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
It is pegged at 6.8-8% by various economists, as compared to 6.7%.
One in five students drop out from school.
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