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India’s economy slips to 7th spot; UK, France march ahead

Agencies
August 2, 2019

New Delhi, Aug 2: The UK and France have toppled India from the position of the fifth-largest economy in 2018, according to data compiled by the World Bank.

Earlier data had shown that India had become the sixth largest economy in 2017, pushing France to the seventh place. However, the latest data showed that India had in fact become the fifth-largest economy that year, ahead of even the UK.

In 2017, India’s economic size stood at $2.65 trillion, followed by the UK at $2.64 trillion and France at $2.59 trillion

However, this status was short lived as the UK’s economy grew to $2.82 trillion and the French economy expanded to $2.78 trillion in 2018, against India’s $2.73 trillion, showed the data.

It means that India’s economy grew a mere 3.01 per cent in dollar terms in 2018 against 15.72 per cent in 2017.

On the other hand, the UK’s economy grew 6.81 per cent against a contraction of 0.75 per cent in this period. The French economy expanded by 7.33 per cent against 4.85 per cent.

Economists attributed this to a movement of the Indian rupee against the dollar.

Devendra Pant, chief economist at India Ratings, said the rupee appreciated 3 per cent in 2017, while it depreciated 5 per cent the following year. “This has resulted in slower growth of India’s economy in dollar terms in 2018 against 2017,” he said.

In rupee terms, India’s economy grew 11.2 per cent in 2018-19, a shade lower than 11.3 per cent in 2017-18. For India’s official statistics, financial years start on April 1 and end at March 31.

The new data has come when there were talks of India overtaking Japan by 2025.

IHS Markit said in a recent report that India will overtake the UK this year to become the world’s fifth-biggest economy, and is poised to surpass Japan to be the third largest in 2025.

According to the World Bank data, Japan’s economic size was $4.97 trillion in 2018, higher than India’s by $2.24 trillion.

India planned to increase its economic size to $5 trillion by 2024-25.

For this, the Economic Survey estimated that India would have to grow by 12 per cent at current prices a year. Assuming the Reserve Bank of India’s inflation growth projections of 4 per cent, the Survey said the economy needed to grow 8 per cent at constant prices a year to make this target possible.

At constant prices, India’s economy expanded by 6.8 per cent in 2018-19 and is projected to grow by 7 per cent in the current fiscal year.

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Agencies
August 3,2020

New York, Aug 3: The number of coronavirus cases confirmed all over the world has surpassed 18 million, while the global COVID-19 death toll stands at over 687,000 according to data from the Johns Hopkins University's Coronavirus Resource Center.

As of 06:00 Moscow time on Monday (03:00 GMT), there are 18,017,556 confirmed coronavirus cases in the world. The global death toll from COVID-19 stands at 687,930. The number of recovered individuals stands at 10,649,108.

The United States remains the country with the largest number of cases (4,665,932) and the highest COVID-19 death toll (154,841), according to the latest data from the Johns Hopkins University.

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Agencies
August 3,2020

Rajouri, Aug 3: Ashfaq Mehmood Choudhary, a 17-year-old boy from Chattyear of Jammu and Kashmir's Rajouri district, has developed a file-sharing app 'Dodo Drop' which would enable users to share audios, videos, images, and texts between two devices without Internet access.

While speaking to media persons, Ashfaq Mehmood said that the 'Dodo Drop' application is an alternative to the Chinese 'SHAREit' app. "The Indian government has banned several Chinese apps due to data breaching, and among those apps was SHAREit which was used for sharing files.

Users faced a lot of problems due to the ban, and so I decided to make this file-sharing app. With 'Dodo Drop', users can share audios, videos, images, and even texts," he said.

Ashfaq said that it took him four weeks to develop the application, and it was launched on August 1 this year. The 'Dodo Drop' application has a transfer rate of up to 480 mbps, which is faster than the SHAREit app and is "quite easy" to use.

"Users can transfer data comprising photos, videos, audios, apps, texts, etc. between two devices with no Internet access. The transfers are fully encrypted and secure," he added.

"Our Prime Minister has always asserted the need for decreasing the dependency on foreign products and apps and to focus on the development of India-based apps. I tried to be part of the initiative of 'Aatmanirbhar Bharat' by developing an India-based file-sharing app. I want to develop global-standard apps for India," he added.

"We support and cooperate with him. He generates his own income by working on some projects and utilises it. We will continue to support him," said Parvez Ahmed Choudhary, Ashfaq's father.

In July, the Ministry of Electronics and Information Technology (MEITY) banned 47 apps, which were variants and cloned copies of the 59 apps banned earlier in June. These banned clones included SHAREit Lite, Tiktok Lite, Helo Lite, BIGO LIVE Lite, and VFY Lite.

The 59 apps had been banned by the Centre in June in view of the information available that they were engaged in activities which were "prejudicial to sovereignty and integrity and defence" of the country.

Almost all the apps banned had some preferential Chinese interest and the majority had parent Chinese companies.

The ban came amid border tensions with China in the Eastern Ladakh region.

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News Network
February 21,2020

Aurangabad, Feb 21: The All India Majlis-e-Ittehad-ul-Muslimeen (AIMIM) will seek an explanation from its leader Waris Pathan over his alleged '15 crore Muslims can be heavy on 100 crore' remark he recently made in Karnataka, a party leader said here on Friday.

Pathan had made the purported remarks while addressing an anti-Citizenship (Amendment) Act (CAA) rally at Kalaburagi in North Karnataka on February 16.

"We have to move together. We have to take Azadi (freedom), things that we don't get by asking, we have to take it by force, remember it...(We maybe) 15 crore, but are heavy on 100 (crore), remember it," Pathan can be heard purportedly saying in a video of his speech that has gone viral.

Talking to reporters here, AIMIM's Maharashtra unit chief and Aurangabad MP Imtiyaz Jaleel said, "Our party does not support the statement made by Waris Pathan. The party will seek an explanation from him over the remarks."

"If needed, we will come out with a set of dos and don'ts for the party workers to be while giving speech," he said.

"BJP leaders Anurag Thakur and Yogi Adityanath had also given some hateful statements, but none questioned them about it," Jaleel added.

On Thursday, a young woman had raised "Pakistan Zindabad" slogan in Bengaluru during a protest against CAA, NRC and NPR, where AIMIM chief Asaduddin Owaisi was also present. Owaisi had denounced her action.

Talking about the incident, Jaleel said, "That event was not organised by the AIMIM. It was organised by JD(S) and leaders of all parties were there. Asaduddin Owaisi stopped the woman and also condemned her act. But it is being projected that it was AIMIM's stage."

Meanwhile, the BJP and the Raj Thackeray-led Maharashtra Navnirman Sena (MNS) held protests in Aurangabad against Pathan, seeking stern action against him.

The BJP protested in Gulmandi area and burnt an effigy of Pathan.

"Waris Pathan has hurt the feelings of 100 crore people. He has tried to divide the people of the country. The state government should take action against him and send him out of Mumbai," BJP MLA Atul Save said.

The MNS took out a symbolic funeral procession of Pathan and raised slogans against the AIMIM.

"The language of Waris Pathan was disgusting. He should be banned from giving public speeches in the state and also be arrested," MNS lader Prakash Mahajan said.

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