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.

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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.

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News Network
January 13,2020

Jan 13: For the first time in years, the government of India’s Prime Minister Narendra Modi is playing defense. Protests have sprung up across the country against an amendment to India’s laws — which came into effect on Friday — that makes it easier for members of some religions to become citizens of India. The government claims this is simply an attempt to protect religious minorities in the Muslim-majority countries that border India; but protesters see it as the first step toward a formal repudiation of India’s constitutionally guaranteed secularism — and one that must be resisted.

Modi was re-elected prime minister last year with an enhanced majority; his hold over the country’s politics is absolute. The formal opposition is weak, discredited and disorganized. Yet, somehow, the anti-Citizenship Act protests have taken hold. No political party is behind them; they are generally arranged by student unions, neighborhood associations and the like.

Yet this aspect of their character is precisely what will worry Modi and his right-hand man, Home Minister Amit Shah. They know how to mock and delegitimize opposition parties with ruthless efficiency. Yet creating a narrative that paints large, flag-waving crowds as traitors is not quite that easy.

For that is how these protests look: large groups of young people, many carrying witty signs and the national flag. They meet and read the preamble to India’s Constitution, into which the promise of secularism was written in the 1970’s.

They carry photographs of the Constitution’s drafter, the Columbia University-trained economist and lawyer B. R. Ambedkar. These are not the mobs the government wanted. They hoped for angry Muslims rampaging through the streets of India’s cities, whom they could point to and say: “See? We must protect you from them.” But, in spite of sometimes brutal repression, the protests have largely been nonviolent.

One, in Shaheen Bagh in a Muslim-dominated sector of New Delhi, began simply as a set of local women in a square, armed with hot tea and blankets against the chill Delhi winter. It has now become the focal point of a very different sort of resistance than what the government expected. Nothing could cure the delusions of India’s Hindu middle class, trained to see India’s Muslims as dangerous threats, as effectively as a group of otherwise clearly apolitical women sipping sweet tea and sharing their fears and food with anyone who will listen.

Modi was re-elected less than a year ago; what could have changed in India since then? Not much, I suspect, in most places that voted for him and his party — particularly the vast rural hinterland of northern India. But urban India was also possibly never quite as content as electoral results suggested. India’s growth dipped below 5% in recent quarters; demand has crashed, and uncertainty about the future is widespread. Worse, the government’s response to the protests was clearly ill-judged. University campuses were attacked, in one case by the police and later by masked men almost certainly connected to the ruling party.

Protesters were harassed and detained with little cause. The courts seemed uninterested. And, slowly, anger began to grow on social media — not just on Twitter, but also on Instagram, previously the preserve of pretty bowls of salad. Instagram is the one social medium over which Modi’s party does not have a stranglehold; and it is where these protests, with their photogenic signs and flags, have found a natural home. As a result, people across urban India who would never previously have gone to a demonstration or a political rally have been slowly politicized.

India is, in fact, becoming more like a normal democracy. “Normal,” that is, for the 2020’s. Liberal democracies across the world are politically divided, often between more liberal urban centers and coasts, and angrier, “left-behind” hinterlands. Modi’s political secret was that he was that rare populist who could unite both the hopeful cities and the resentful countryside. Yet this once magic formula seems to have become ineffective. Five of India’s six largest cities are not ruled by Modi’s Bharatiya Janata Party in any case — the financial hub of Mumbai changed hands recently. The BJP has set its sights on winning state elections in Delhi in a few weeks. Which way the capital’s voters will go is uncertain. But that itself is revealing — last year, Modi swept all seven parliamentary seats in Delhi.

In the end, the Citizenship Amendment Act is now law, the BJP might manage to win Delhi, and the protests might die down as the days get unmanageably hot and state repression increases. But urban India has put Modi on notice. His days of being India’s unifier are over: From now on, like all the other populists, he will have to keep one eye on the streets of his country’s cities.

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News Network
May 14,2020

London, May 14: Vijay Mallya on Thursday lost his application seeking leave to appeal in the UK Supreme Court, in a setback for the embattled liquor tycoon who last month lost his High Court appeal against an extradition order to India on charges of fraud and money laundering related to unrecovered loans to his now-defunct Kingfisher Airlines.

The 64-year-old businessman had 14 days to file this application to seek permission to move the higher court on the High Court judgment from April 20, which dismissed his appeal against a Westminster Magistrates' Court's extradition order certified by the UK Home Secretary.

The latest ruling will now go back for re-certification and the process of extradition should be triggered within 28 days.

The UK Crown Prosecution Service (CPS) said Mallya's appeal to certify a point of law was rejected on all three counts, of hearing oral submissions, grant a certificate on the questions as drafted, and grant permission to appeal to the Supreme Court.

The Indian government's response to the appeal application had been submitted earlier this week.

The leave to appeal to the Supreme Court is on a point of law of general public importance, which according to experts is a very high threshold that is not often met.

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Agencies
February 11,2020

New Delhi, Feb 11: AAP chief and Delhi Chief Minister Arvind Kejriwal has won from New Delhi assembly seat. He polled 46,758 votes, which is 61.1 per cent of total votes polled in the high profile constituency.

Kejriwal defeated Sunil Kumar Yadav of the Bharatiya Janata Party (BJP), who polled 25,061 votes, which is 32.75 per cent of total votes polled. Congress candidate Romesh Sabhawarl could get only 3,220 votes.

So far, the AAP has won 55 seats and is leading on seven seats. The BJP has won seven seats and is leading on two. The Congress is nowhere in the reckoning.

As per the details on the website of Election Commission of India at 8.27 pm on Tuesday, the AAP has secured 53.60 per cent votes, BJP 38.49 per cent, BSP 0.71 per cent, CPI 0.02 per cent, CPI-M 0.01 per cent, Congress 4.27 per cent, JDU 0.90 per cent, LJP 0.35 per cent, NCP 0.02 per cent, and NOTA 0.46 per cent.

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