India's Q1 GDP grows at 8.2% on upswing in manufacturing and construction activity

Agencies
September 1, 2018

New Delhi, Sept 1: India's economy grew at 2-year high of 8.2 percent in the April-June quarter of 2018-19 on strong performance of manufacturing and agriculture sectors, increasing its lead over China to remain the world's fastest-growing major economy.

The Gross Domestic Product (GDP) at constant prices (2011-12) had grown at 5.6 percent in the April-June quarter of last fiscal, according to government data released on Friday.

The size of the GDP in the first quarter of 2018-19 has estimated at Rs 33.74 lakh crore, as against Rs 31.18 lakh crore in Q1 of 2017-18, a growth rate of 8.2 percent, as per the statement of the Central Statistics Office (CSO).

The previous high in quarterly GDP growth was recorded in the January-March quarter of 2015-16 at 9.3 percent.

The Chinese economy had expanded at the rate of 6.7 percent in the April-June period this year.

India's Gross Value Added (GVA) for the quarter under consideration has been estimated at 8 percent, up from 5.6 percent in the year-ago period.

The quarterly GVA at constant (2011-2012) prices for Q1 of 2018-19 has been estimated at Rs 31.63 lakh crore, as against Rs 29.29 lakh crore in Q1 of 2017-18, showing a growth rate of 8 percent over the year-ago period.

The CSO said that manufacturing activities expand at the rate of 13.5 percent in the quarter under review. The sector had witnessed a decline of 1.8 percent in similar period last year.

Finance Minister Arun Jaitley said in a tweet that the growth represents the potential of new India. "Reforms and fiscal prudence are serving us well. India is witnessing an expansion of the neo middle class."

Niti Aayog Vice-Chairman Rajiv Kumar in a tweet said: "Excellent news of GDP hitting a 9-quarter high at 8.2 percent".

Finance Secretary Hasmukh Adhia said it has been a remarkable speed of economic recovery in the last four quarters -- 6.3 percent, 7 percent, 7.7 percent and now 8.2 percent.

"The GDP growth rate of 8.2% for the Q1 (April-June) of fiscal year 2018-19 indicates clearly that several structural reforms introduced such as GST have started giving rich dividends.The growth in manufacturing sector (13.5%) also indicates broad based recovery of demand," he said in series of tweets.

The CSO data further said 'agriculture, forestry and fishing' segment of the economy posted a growth of 5.3 percent as against 3 percent year-on-year. Growth in the 'electricity, gas, water supply and other utility serives' was 7.3 percent and in construction activities it was 8.7 percent.

'Trade, hotels, transport, communication and services related to broadcasting' and 'financial, real estate and professional services' segements posted slower growth in comparison to the year-ago quarter.

The growth in mining and quarrying activities too was slower.

Talking to reporters, Economic Affairs Secretary S C Garg said that the robust performance in the April-June quarter "gives hope" that growth could exceed even estimates of 7.5 percent for the year as whole.

Excellent growth performance in I qrtr. 8.2 percent overall growth, 13.5 percent growth in manufacturing and over 10 percent in capital formation.

"V shaped recovery of growth in Indian economy is complete now. We should grow at robust and steady state in 18-19 remaining fastest economy in World," he said.

Industry chamber Assocham said the best part about an impressive GDP growth "is that it is being led by employment-intensive manufacturing".

"Same is true about the construction which again is job-generating sector and grew by 8.7 percent," said Sandeep Jajodia, President of the chamber.

Commerce Minister Suresh Prabhu said that multiple sectors register growth of over 7 percent reflecting holistic progress towards 'New India' under the leadership of Prime Minister Narendra Modi.

In a tweet, Executive Chairman Mahindra Group Anand Mahindra linked the GDP growth number with the Asian Games, saying "...this is like receiving news of a medal... We've been sensing a strong recovery of the economy across our various businesses.This data supports that hypothesis. Now, to sustain momentum we need more reforms & swift decision making by policy-makers..."

The Gross Fixed Capital Formation (GFCF) at current prices is estimated at Rs 12.75 lakh crore in first quarter of 2018-19 as against Rs 11.20 lakh crore in similar quarter of 2017-18.

At constant (2011-2012) prices, the GFCF is estimated at Rs 10.65 lakh crore in April-June quarter of 2018-19 as against Rs 9.68 lakh crore in similar period of 2017-18.

GFCF is considered as a barometer of investment activities.

Anshuman Magazine, Chairman, India and South East Asia, CBRE said a strong GDP growth of 8.2 percent "builds expectations" and showcases that the economy is recovering much faster than expected from the implementation of policy reforms such as the GST last year.

President of PHDCCI Anil Khaitan said the growth of agriculture, forestry and fishing is reflecting the focus of the government on farm and rural economy during the last few years which would go a long way to strengthen the economy and put it on USD 5 trillion economy by 2025.

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Agencies
June 26,2020

New Delhi, Jun 26: Over 700 employees of Hindu Rao Hospital would stage a protest against North Delhi Municipal Corporation on Friday morning over non-payment of their salaries since April. The staff includes paramedical, nurses, and Class IV employees of the hospital. However, the employees said that only 40 or 50 people would gather to stage the protest keeping COVID situation in mind, and the norms of social distancing would also be followed.

Tejinder Singh, president of the Paramedical technical staff welfare association, said that the corporation is forcing the employees to go on a protest when they are needed the most. "The government hails us as Corona warriors but do not treat us like one," he commented.

"We all have families. Many amongst us have taken loans, live on rental accommodation, and have children whose schools and colleges are demanding fees. How would we incur our expenses when we are not paid? We repeatedly asked the corporation to clear our dues, but our requests fell on deaf ears. We don't have any option but to go on protest," he said.

Besides, Singh also said that the staff of Hindu Rao had not received arrears of seventh pay commission, bonus and dearness allowances for two years. "These are our rights which we are being denied. The protest is to call out injustice and ignorance we face from the administration," he added.

The nurses of the hospital corroborated with Singh. However, they also added the issues they are facing since the pandemic started that they would be rising through the protest.

Nurses complain lack of facilities despite hospital gearing up as dedicated COVID care

Indumati Jaiswal, president of nurses' welfare association of the hospital, said that apart from salaries, the hospital is not providing many facilities required by the staff to battle the pandemic. The Delhi government had designated the hospital as a dedicated COVID facility on June 16.

"The preparedness for such responsibility is completely shoddy. There is no provision for air conditioners and coolers for us. We have to work wearing PPE kits for six hours straight under ceiling fans. The lack of AC and coolers amplifies our struggle to stay under PPE kits for longer hours. We can't even drink water in that duration. It's just inhumane," Jaiswal said.

Jaiswal also said that the hospital is facing staff crunch, yet, have not prepared a roster for the nurses. "The hospital has 238 nurses on 700 doctors. This is opposite to the prescribed guidelines of the Indian Nurses Council that suggests four nurses per doctor as a healthy ratio. Here, we have less than five nurses per doctor. A complete opposite of an ideal scenario," she complained.

Jaiswal said that the room for donning and doffing the PPE kits should be outside the ward. "In the hospital, it's within the ward, and the nurses have to cross through the patients to wear in and out the PPE suits. It increases the risk of contracting COVID-19 from the patients," she said.

The hospital employees informed that more than 40 healthcare workers from Hindu Rao had contracted the COVID-19 infection.

The corporation argues lack of funds behind delay in salaries

Indu Singhal, the deputy commissioner of North Delhi Municipal Commissioner, told media corporation is in the process to resolve the salary issues of the Hindu Rao Hospital's staff. "We have received their complaints and pursuing the matter. We will release their dues as soon as we receive the funds from the government," she said.

However, a senior official of the corporation revealed that the corporation is reeling under an acute shortage of funds. "Even the employees working in the corporation have not been paid salaries. The employees of A-grade are not paid since March," the official said.

Singhal said that the dispersion of salaries starts from the lower base. "Many officers, including I have not been paid," she added.

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News Network
June 12,2020

New Delhi, Jun 12: India's COVID-19 tally on Friday witnessed its highest-ever spike of 10,956 cases, according to the Union Ministry of Health and Family Welfare (MoHFW).

396 deaths have been reported due to the infection during the last 24 hours.

The total number of coronavirus cases in the country now stands at 2,97,535 including 1,41,842 active cases, 1,47,195 cured/discharged/migrated and 8,498 deaths.

COVID-19 cases in Maharashtra continue to soar with the number reaching 97,648. Tamil Nadu's coronavirus count stands at 38,716 while cases in Delhi reached 34,687.

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Agencies
May 26,2020

In a startling revelation, cybersecurity researchers have claimed that a hacker has posted personal details of nearly 2.9 crore Indian job seekers at one of the hacking forums on the Dark Web for free.

As part of the regular sweep over the Deep Web and Dark Web, researchers from cybersecurity firm Cyble came across an interesting item, where a threat actor posted 2.3GB (zipped) file on one of the hacking forums.

"The leak actually has a lot of personal details of millions of Indians Job seekers from different states," Cyble said in its blog on Friday.

This breach includes sensitive information such as email, phone, home address, qualification and work experience etc from job seekers spanning across states, from New Delhi to Mumbai and Bengaluru. 

Cybercriminals are always on the lookout for such personal information to conduct various nefarious activities such as identity thefts, scams, and corporate espionage.

"It appears to have originated from a resume aggregator service given the sheer volume and detailed information," it added.

Cyble indexed this information at ‘AmIbreached.com; – Cyble's data breach monitoring and notification platform.

Cyble researchers have identified a sensitive data breach on the dark web where an actor has leaked personal details of nearly 29 million Indian job seekers from various states. 

"Cyble's team is still investigating this further and will be updating their article as they bring more facts to the surface,” it said in a statement.

Cyble said it has acquired the leaked data. 

The same cyber security firm earlier exposed that Bengaluru-based edtech firm Unacademy was hacked.

According to Cyble researchers, nearly 22 million Unacademy user accounts were affected and the data was dumped and sold on Dark Web.

'We would like to assure our users that no sensitive information such as financial data or location has been breached," said Hemesh Singh, Co- Founder and CTO, Unacademy, in a statement.

In April, hackers sold personal data of a whopping 267 million Facebook users for just Rs 41,500 (approximately 500 Euros) that includes email addresses, names, Facebook IDs, dates of birth and phone numbers.

No passwords of the 267 million Facebook users were exposed by the hacker, according to Cyble.

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