Finance Ministry had pegged the growth at 5.7 per cent and RBI at 5.5 per cent.
The revision will do little to help the Congress party-led ruling alliance, which faces an uphill battle in elections due by May amid allegations of economic mismanagement, corruption scams and high inflation.
'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.
'A growth of above 7 per cent when the fundamentals of the economy are becoming stronger still makes India the fastest growing large economy.'
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.
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.
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)."
Experts said a dip in consumption expenditure indicated an increasing prevalence of poverty in the country.
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.
Many medical experts feel that the nation would have fared far worse without the lockdown.
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.
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 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.
With 247 incidents of communal violence, Uttar Pradesh has earned the dubious distinction of topping the list of states that witnessed riots in 2013 and the situation is no different in 2014 too.
In the third reshuffle since coming to power, Prime Minister Modi raised the strength of his Council of Ministers from 73 to 76.
'There is more likelihood of dying from lightning than from vaccine induced blood clots.'
The release of the statistics follows growing panic in the country over concerns that the second wave is somehow more powerful and could cause greater havoc.
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.
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.
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.
Among other things, the agenda is likely to focus on increasing private investment, employment generation and giving relief to the farm sector
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.
The Covid pandemic has left a question mark on how the central government manages its staff.
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.
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.
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.
Consumer durables shrank year on year, which could suggest to observers that spending confidence is yet to return to the economy.
The NSSO had enumerated 79,306 households in rural areas and 45,374 in urban regions.
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.
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.
The move aimed at blunting Finance Ministry, RBI's opposition to monthly reporting.
After contracting for two quarters in a row, the Indian economy entered the positive territory with a growth of 0.4 per cent in the October-December quarter, mainly due to good performance by farm, services and construction sectors, official data showed on Friday. Trade and hotel industry registered a contraction of 7.7 per cent during the third quarter this fiscal, as the sectors continued to suffer on account of coronavirus pandemic. According to the data released by the National Statistical Office (NSO), the farm sector recorded a growth of 3.9 per cent, and the manufacturing sector output grew by 1.6 per cent in the quarter under review.
It is human error, which cannot be completely avoided in complex data like the Index of Industrial Production (IIP), says T C A Anant.
Prices have continued to move up in Delhi's markets, wholesale and retail, on supply worries and spoilage due to record cold weather.
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.
"Despite the high number of cases reported so far, we have been able to contain the spread to under 2 pc of population," said Health Ministry Joint Secretary Lav Agarwal.
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.
As many as 77 rape cases were reported across India on an average every day in 2020, totalling to 28,046 such incidents during the year, according to the latest National Crime Records Bureau data.
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