NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
This is mainly due to GST impact on manufacturing and subdued farm output.
His celebratory gesture on Thursday night marks a first for Downing Street, which annually sees the UK prime minister host a Diwali gathering and an Annakut, or spread of festive food, from London's Swaminarayan Mandir next door at No 10.
In the manufacturing sector, output is expected to decline by about 70 per cent as only food-processing, and drugs and pharma industries are allowed to operate while other segments, such as engineering and metals, have shut operations.
'The current economic contraction is certainly due to the lockdowns as a response to the pandemic, which is an act of God.' 'Nobody has seen such a thing in the last 100 years.' 'Saying that this was an act of mismanagement is largely incorrect'
A total of 254 millionaires from India have used the so-called "golden visa" to settle down in the UK through a large investment into the country since the route opened in 2008, according to a new report released by a UK-based anti-corruption charity on Monday. Spotlight on Corruption said that Indians ranked as the seventh nationality of super-rich to have availed of the Tier 1 (Investor) Visa, adding up to 254 between 2008 and 2020. China topped the list at 4,106, followed by Russia (2,526), Hong Kong (692), the United States (685), Pakistan (283) and Kazakhstan (278) ahead of India.
'In 2016, we had De-Mon and in 2017, we had GST.' 'The combined impact of these two started showing up in 2019 and 2020.' 'COVID-19 only added insult to injury.'
The April-June quarter GDP slipped to 7 per cent from 7.5 per cent.
The greatest disconnect lies in the estimates of industrial growth.
the GDP estimates incorporate new source data and modified compilation techniques
The National Council of Applied Economic Research (NCAER) on Thursday lowered the GDP projection for the current fiscal to 4.7-4.9 per cent due to exchange rate depreciation.
The First Advance Estimates of National Income, 2016-17 did not reflect the impact of demonetisation, effected on November 9 and are based on sectoral data for only seven months to October.
Finance secretary Ajay Bhushan Pandey on Sunday hinted that the government was working on another stimulus package but he refrained from giving a timeframe.
The rates of price rise in many services used by the common man, including hospital and nursing, cook, domestic help and bus (fare), among others, have also touched double digits during the last four years, putting a burden on disposable income.
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.
The World Bank's latest review of its purchasing power parity (PPP) baseline will reignite the poverty debate.
'India remains a bright spot amid the global slowdown.'
Lalpura, who took over as the National Commission for Minorities (NCM) chairperson last week, asserted that his priority would be to dispel 'false narratives' fuelling insecurity among minorities.
The Supreme Court in its official communication called it "Truly, a historic day".
Emphasising the effect of the potential COVID third wave on children, the report said the Indian Academy of Paediatrics found that there is no biological evidence that the current and the new Delta Plus variant will affect children more than adults.
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.
Economic affairs secretary S C Garg said that all macroeconomic parameters are performing well.
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During April-February, the index of industrial production, a measure of factory activity, declined 0.1 per cent compared with a 0.9 per cent growth in the corresponding period of 2012-13.
This kind of growth will turn India into a $8 trillion economy.
The Pampore attack 'has the stamp of LeT written all over it.'
'They are exactly like the so-called fidayeen of the 1999-2003 phase, when J&K witnessed a surge in suicide attacks on various important garrisons,' says Lieutenant General Syed Ata Hasnain (retd), who served as the General Officer Commanding 15 Corps in Kashmir.
Many from this small lender have made it to other bank boards over the past 5 years
Finance Commission has got new team who are committed to growth initiatives.
The recent study suggested that nearly 35 per cent of the cases were stillborn, 29 per cent were born alive and 36 per cent were born before the period of viability.
A study has analysed how body mass index is linked to mortality.
Millions of Indian children lack access to online education as they do not have smartphones, computers or an Internet connection.
Foreign portfolio investors (FPIs) remained net buyers to the tune of Rs 12,266 crore in the Indian market in the first five trading sessions of February, as positive sentiment post-Union Budget 2021 sparked a rally in investment.
The CSO estimate is, however, a bit lower than 7.4 per cent growth projected by the Reserve Bank for the current fiscal.
'While the poor have little say in shaping India's intellectual or public discourse, they do have a significant role in deciding political outcomes,' points out Roshan Kishore.
The government on Monday appointed three eminent economists Ashima Goyal, Jayanth R Varma and Shankanka Bhide as members of the rate-setting Monetary Policy Committee of the RBI
As against an annual average growth of 10-11 per cent envisaged for the industry during the period, the actual annual average growth stood at 7.2 per cent during the plan period.
The new numbers clearly had very different implications.
Govt has drawn list of PSUs for strategic sale: Jaitley
Tamil Nadu now has India's lowest fertility rate - lower than Australia, Finland and Belgium - second best infant mortality and maternal mortality rate; records among the lowest crime rates against women and children; and has more factories and provides more industrial employment than any other Indian state.
Dr Ajay Kumar Sood will have to complete a task his predecessor started: Getting the government to sign off on a new Science, Technology, and Innovation Policy on which work was begun in 2020.
After assuming power in 2014 with a full majority of its own, the BJP-led NDA government started an ambitious process of reforming labour laws in the form of codes aimed at making the framework less cumbersome with a variety of alterations. It had planned four codes each for industrial relations, wages, social security and welfare, and occupational safety, health and working conditions. To this end, 35 central labour laws were to be converted into four codes that would have had the virtue of streamlining labour relations. But none of the proposed code Bills could be converted into a law principally because neither trade unions nor industry representatives came on board. They hold the key to India's low-growth-high unemployment paradigm but the government may struggle to push them through this time as well. Somesh Jha explains why
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