GDP growth slowing to 4-year low of 6.5% in 2017-18

News Network
January 6, 2018

New Delhi, Jan 6: The Central Statistics Office (CSO) on Friday forecast that GDP growth in the current financial year ending March 31 will slow to a four-year low of 6.5%, from the provisional 7.1% pace seen in 2016-17, dragged down by deceleration in the agriculture and manufacturing sectors.

Gross Value Added (GVA) was also projected to expand by 6.1% in 2017-18, slowing from 6.6% in the preceding fiscal year, according to the first advance estimates of national income for 2017-18, released by the CSO.

Within this, the GVA growth rate for ‘agriculture, forestry and fishing’ is expected to slow sharply to 2.1%, compared with the previous year’s 4.9% pace. Manufacturing sector growth has been forecast at 4.6% in 2017-18, compared with the 7.9% expansion provisionally estimated for 2016-17.

“In agriculture, what we are seeing is a base effect because last year saw a very high growth rate because it followed two years of drought,” Statistics and Programme Implementation Secretary and Chief Statistician of India TCA Anant said at a press conference in the national capital. “In terms of production, the total production would probably be the second highest in a very long time. It is not unusual growth in agriculture in a good year.”

The CSO’s GVA full-year growth estimate of 6.1%, compares with a 6.7% pace that the Reserve Bank of India had forecast at its December policy meeting.

Comments

kushal kumar
 - 
Saturday, 6 Jan 2018

According  to  latest  news  reports  in  first  week  of  January  ,  2018  ,  India’s  GDP  is  estimated  to  grow  at  6.5%  during  2017-18 ,  a  four   year   low.  This  estimated  or  feared  circumstance  in  India’s  economy  is  in  line  with  the  related  predictions  of  this  Vedic  astrology  writer  in  article  -  “  Astrologically  speaking  ,  some  highlights  for  India  in  coming  year  year  2018”  -  published in a media  on  19  October  ,  2017.  Just  reproducing  the  text  relevant  to  the  point  from  the  said  article  :- “  The  year  2018  looks  to  be  …………Economy  may  pass  through  tense  times  on  more  than  one  front  except  art  ,  entertainment  ,  cinema  ,  creative  or  innovative  talents  which  may  do  well  to  contribute  whatsoever  to  the  economy”.     It  seems  these  alerts  for   taking  more  care  and  appropriate  strategy  in  2018  in  relation  to  economy  in  India  are  meaningful.

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
March 24,2020

New Delhi, Mar 24: Thirty-two states and Union Territories (UTs) have announced complete lockdown to check the spread of the coronavirus in the country, informed the Central government on Tuesday.
There is a complete lockdown in as many as 560 districts of the country affecting several hundred million people.
Earlier, the complete lockdown was imposed in 30 districts, as of now, almost the entire country is in lockdown to restrict public movement in an attempt to break the chain of transmission of coronavirus.
Three states -- Uttar Pradesh, Madhya Pradesh and Odisha -- have announced lockdown in select districts with the governments continuously monitoring the situation and ready to extend the restrictions to other districts as well.
The Union Territory of Lakshadweep has announced restrictions on certain activities.
The Indian Railways has suspended all passenger train operations till March 31 in view of coronavirus.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 10,2020

New Delhi, Mar 10: Minutes after Jyotiraditya Scindia submitted his resignation to the party membership to Congress chief Sonia Gandhi, the Congress expelled him for anti-party activities after reports emerged that he had met PM Modi and Amit Shah.

Disgruntled Congress leader Jyotiraditya Scindia met Prime Minister Narendra Modi on Tuesday amid indications that he might join hands with the BJP to topple the Madhya Pradesh government.

Sources said Scindia first met Union Home Minister Amit Shah, and then the two leaders met Modi at the prime minister's residence.

Legislators loyal to Scindia, who has been upset with the Congress leadership with his marginalisation in the affairs of the Madhya Pradesh Congress, are likely to quit the party to reduce the Kamal Nath-led government to a minority.

It is likely to be followed by the Bharatiya Janata Party staking claim to form the government in the state.

The Congress President has approved the expulsion of Jyotiraditya Scindia from the Indian National Congress with immediate effect for "anti-party activities," said KC Venugopal, General Secretary Congress.

No person is, nor will be greater than the party: Congress youth wing chief

Indian Youth Congress (IYC) chief Srinivas B V on Tuesday slammed Jyotiraditya Scindia, who has announced his resignation from the primary membership of the Congress, and thanked party chief Sonia Gandhi for expelling the former Guna MP "who was promoting anti-party activities and factionalism".

"The history of 1857 and 1967 was once again repeated," Srinivas B V said, referring to the 1857 Revolt against East India Company and the role of the Scindia royals back then as well as Vijayaraje Scindia's switch from the Congress to the Jana Sangh in 1967.

"I would like to thank Congress president Sonia Gandhiji for taking the strong steps to expel the leader who was promoting anti-party activities and factionalism," the IYC chief said.

"No person is, nor will be greater than the party," he added.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
April 23,2020

More and more Indians have become better prepared in the last one month, as far as stocking of their ration, medicine or money is concerned, according to the IANS-CVoter COVID-19 Tracker.

With the second leg of the lockdown half way through and Prime Minister Narendra Modi saying it's a long haul, 57.2% respondents said they have less than three weeks of stock while 43.3% said they have a stock that will last beyond that

However, if one breaks into weeks, most respondents said they are prepared for a week's time. 24.5% respondents said they have ration, medicine or money to last a week. This is closely followed by 21.9 % respondents saying they are ready for a month.

Meanwhile, 20.4 % said they are ready for a couple of weeks. There are 15.8 % who said they are ready for more than a month with food, ration and medicine. A tiny 5.6 % said they are ready with three weeks of stock.

However, there is 12.3% who still seem to live on the edge with less than a week's preparation.

But, the biggest takeaway from the IANS-CVoter COVID-19 Tracker is that in the last one month, a massive segment of society realised that the fight is long and the preparation should also be to last that long.

o put things into context, on March 16 when the tracker started, a whopping 77.1% said they have stock to last for less than a week. More than a month later on April 21, that number jumped to just 12.3%, which essentially means, people have become better prepared for a long-hauled lockdown period.

Similarly, on April 21, a sizable 21.9% respondents claimed they are ready with ration and medicine that will last them a month. On March 16, not even one respondent could claim they have a month's stock. In fact till March 22, just ahead of the announcement of the first lockdown, no respondent the IANS-CVoter tracker said that they have a month's preparation.

Similarly, when the tracker started, 9.9% said they simply ‘don't know'. As on April 21, that number is a big zero.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.