Dravida Munnetra Kazhagam legislator and the party's youth wing secretary Udhayanidhi Stalin was sworn in as minister in Chennai on Wednesday by Tamil Nadu Governor R N Ravi.
Industrial production declined by 8 per cent in August, mainly due to lower output of manufacturing, mining and power generation sectors, official data showed on Monday. According to the Index of Industrial Production (IIP) data, manufacturing sector production registered a decline of 8.6 per cent, while the output of mining and power segments fell 9.8 per cent and 1.8 per cent, respectively.
Prime Minister Narendra Modi has been holding in-person meetings with Union ministers in different groups apparently to take stock of the work done by them in the past two years, sources said.
In twin blows to Indian economic revival, higher food prices drove retail inflation to a five-month high of 7.4 per cent while factory output fell for the first time in 18 months. The second consecutive month of rise in consumer price index (CPI)-based inflation will add to the pressure on the Reserve Bank of India (RBI) to again raise interest rates to tame high prices. Inflation has been above the targeted zone for the ninth month in a row and as per statute, the RBI will now have to explain to the government in writing why it failed to keep prices below 6 per cent.
The inflation figures are based on data collected from limited markets in view of the restrictions imposed on account of coronavirus pandemic.
As many as 483 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.43 lakh crore, according to a report. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. Of the 1,781 such projects, 483 reported cost overruns and 504 were delayed.
Fernandes was hospitalised in July after suffering a fall while doing yoga at his house.
The statistics ministry has proposed the new base year for GDP and IIP as 2017-18 while for CPI it will be 2018.
For the past one week, Modi has been holding in-person meetings with Union ministers apparently to take stock of the work done by the government in the last two years and to discuss various issues.
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
What does Udhayanidhi's induction as minister mean? For the DMK, it indicates the future course, direction and leadership. It is continuity with change, and change with continuity, points out N Sathiya Moorthy.
'How low GDP would have been, we don't know.' 'It raises serious questions because so many indicators are pointing to such a sharp decline and GDP estimates are still showing 4 per cent growth.'
As many as 449 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.29 lakh crore, according to a report. The ministry of statistics and programme implementation monitors infrastructure projects worth Rs 150 crore and above. Of the 1,736 such projects, 449 reported cost overruns and 547 were delayed.
But the report also said that early marriage has been declining over time.
Punjab Chief Minister Charanjit Singh Channi on Tuesday allocated portfolios to the new ministers, keeping 14 departments with himself and giving home affairs to deputy chief minister Sukhjinder Singh Randhawa and health to other deputy O P Soni.
Former England soccer captain David Beckham is moving into the virtual world as co-owner of London-based start-up Guild Esports. Guild said in a statement on Thursday that it will launch player academies and run teams in various esports arenas including Rocket League, EA Sports, FIFA and Fortnite.
Retail inflation slowed to 4.29 per cent in April from 5.52 per cent in March, mainly due to easing food prices, government data showed on Wednesday. The Reserve Bank mainly factors in the retail inflation based on Consumer Price Index (CPI) while arriving at its monetary policy. As per the data released by Ministry of Statistics and Programme Implementation, inflation in the food basket was 2.02 per cent in April, down from 4.87 per cent in the preceding month.
Industrial production growth entered positive territory after a gap of two months with a record 22.4 per cent rise in March this year, mainly due to the low-base effect and good show by manufacturing, mining and power sectors. The manufacturing sector -- which constitutes 77.63 per cent of the index of industrial production (IIP) -- grew by 25.8 per cent in March 2021, as per the data released by the National Statistical Office (NSO) on Wednesday. The mining sector output too grew 6.1 per cent in March, while power generation increased by 22.5 per cent.
Industrial production surged by 13.6 per cent in June mainly due to a low-base effect and good performance by manufacturing, mining and power sectors but the output remained below the pre-pandemic level. The manufacturing sector, which constitutes 77.63 per cent of the Index of Industrial Production (IIP), grew by 13 per cent in June this year, according to the data released by the National Statistical Office (NSO) on Thursday. The mining sector output rose by 23.1 per cent in June while power generation increased by 8.3 per cent.
The Indian economy has recovered 'handsomely' from the pandemic-induced disruptions, former Niti Aayog vice chairman Arvind Panagariya said on Tuesday, while expressing hope that the recovery will be sustained and the growth rate of 7 to 8 per cent will be restored. Panagariya suggested that the government must now signal its intention to wind down fiscal deficit by cutting it by half-to-one percentage point in 2022-23. "The Indian economy has recovered handsomely, returning to its pre-COVID GDP... "Only private consumption is still below its pre-COVID-19 level," the eminent economist told PTI in an interview.
Prime Minister Narendra Modi on Friday held deliberations with Home Minister Amit Shah and BJP president J P Nadda amid speculation about a reshuffle in the Union cabinet, an exercise Modi has not undertaken since forming the government for a second time in May 2019.
Manufacturing sector production registered a decline of 17.1 per cent, while the output of mining and power fell 19.8 per cent and 10 per cent, respectively.
India has the capacity to store vaccines that may require a lower temperature in the range of -15 to -20 degrees Celsius and there are over 29,000 cold chain points (CCPs) across the country where vaccines are stored at the recommended temperatures, the Centre has told the Supreme Court.
The retail inflation rate breached the 6 per cent upper tolerance limit of the RBI for the first time in seven months in January, while the wholesale price index stayed in double-digits for the 10th month in a row, showed two sets of data released by the government on Monday. Retail inflation, the key input for the RBI while reviewing the repo rate every two months, soared during the month mainly because of a spike in certain food items. The previous high for retail inflation was 6.26 per cent in June 2021.
Industrial production contracted by 1.9 per cent in November, entering the negative territory after a two-month gap, mainly due to poor showing by manufacturing and mining sectors, official data showed on Tuesday. The manufacturing sector -- which constitutes 77.63 per cent of the index of industrial production (IIP) -- recorded a contraction of 1.7 per cent in November 2020, as per data released by the National Statistical Office (NSO). Mining sector output too witnessed a decline, shrinking 7.3 per cent.
In May 2019, the food inflation was 1.83 per cent as per the full CPI data released for that period.
It is for the first time in the history of Independent India that not a single Muslim is part of the Union Cabinet.
The findings of the report showed consumer spending falling for the first time in over four decades in 2017-18.
The government clarified that the majority of industrial establishments had reported nil production, and cautioned that the numbers should not be compared with those of previous months. "It is not appropriate to compare the IIP of April 2020 with that of earlier months, and users may like to observe the changes in the IIP in the following months," said the ministry of statistics & programme implementation.
The statement comes in the wake of two independent members of the NSC, P C Mohanan and J V Meenakshi, quitting the Commission over disagreements with the government on the back-series GDP data and delay in release of labour force survey. Mohanan was also the acting chairperson of the Commission.
As many as 403 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of over Rs 4.05 lakh crore owing to delays and other reasons, according to a report.
According to a privilege extended to lawmakers by the Ministry of Statistics and Programme Implementation, MPs can now sponsor the construction of the railway stations from his/her annual budget of Rs 5 crore and etch his name for perpetuity on a steel or metal plaque.
Industrial production declined by 10.4 per cent in July, mainly due to lower output of manufacturing, mining and power generation, as per the government data released on Friday.
Narendra Singh Tomar has been given the additional charge of the ministry of parliamentary affairs and D V Sadananda Gowda that of the ministry of chemicals and fertilisers.
While the rich are buying expensive luxury vehicles in Patna, the poor continue to suffer. The pandemic, discovers M I Khan, has cast new light on the stark economic divide in the capital city of Bihar, India's poorest state.
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
Ministry of Statistics and Programme Implementation recently published key employment indicators.
The ministry of statistics and programme implementation on Friday released quick estimates of the Index of Industrial Production (IIP) which showed the index value at 88.4 in May against 53.6 in April, indicating a graded pickup in industrial activity. The index stood at 135.4 in May 2019.
Tamil Nadu Chief Minister M K Stalin's Cabinet, including him, would be 34-member strong and he has retained senior leaders like Duraimurugan and over a dozen shall be ministers for the first time.
As India looks to mend its Covid-battered economy, one thing that will grab the attention of all concerned is the path that both wholesale and retail inflation will follow. Even the Reserve Bank of India in its latest policy statement said, "Going forward, the inflation trajectory is likely to be shaped by uncertainties impinging on the upside and the downside.
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