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 4,2020

New Delhi, Jun 4: Press Council of India (PCI) member BR Gupta has resigned from his post, saying he was unable to work individually or collectively for the media, which is in a "deep crisis".

"I have tendered my resignation as a Press Council of India member," Gupta told PTI.

He said the PCI had the responsibility to encourage media and media professionals constantly.

"But everyone now realises that the media scenario is in a deep crisis. The motto for which the Council was created was not being fulfilled and I felt I was not doing anything remarkable for the freedom of media," Gupta said.

He claimed that the PCI was not a wholly representative body for the media.

"Then how can we come out of the crisis being faced by the media and mediapersons? It is a big challenge for us. I have quit as I have not been able to work individually or collectively being a PCI member," Gupta added.

Referring to salary cuts and job losses, he said media and mediapersons were struggling for social, political and economic justice.

When contacted, PCI chairman Justice C K Prasad said Gupta's resignation has not been accepted yet.

"I have received it (the resignation). I have not gone through it. It has not been accepted," Prasad told PTI.

Gupta was appointed as a PCI member for a three-year term on May 30, 2018.

He said liberty is one of the basic features of the preamble to the Constitution that continues to inspire people and the media.

"It is difficult (for me) to fulfil the unbiased role and responsibility to help citizens and the media for making democracy stronger," Gupta said.

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News Network
January 7,2020

New Delhi, Jan 7: When a reign of terror was unleashed by "masked goons" in the Jawaharlal Nehru University (JNU) on Sunday, Delhi Police registered two cases against varsity students union president Aishe Ghosh, who was badly injured in the attack, within a span of five minutes.

The registration of cases on two separate complaints against Ghosh and other students filed by JNU security department on January 3 and January 4 were registered on Sunday night when the violence was on, triggering questions about the motive behind the timing.

While the FIRs against Ghosh and others were registered between 8.44 pm and 8.49 pm after the JNUSU president was admitted to AIIMS, an FIR on the Sunday violence was registered on Monday at 5.36 am against unknown persons. The Sunday violence case has been transferred to Crime Branch for further investigations.

Questions are being raised over the registration of FIRs on Sunday while the complaints were filed on the previous days. Students allege that it was an afterthought from the police and authorities, as a nationwide outrage erupted as soon as the violence was reported.

Delhi Police is under attack for not coming to the aid of students targeted by the mob of ABVP activists armed with iron rods and sticks who went on a rampage on the campus. While no single person in the Sunday violence was arrested, the police are also accused of being a "mute spectator" by allowing the rioters to leave the campus without being arrested.

In its complaints, the JNU Security Department has alleged that Ghosh and others entered into a verbal and physical scuffle with security guards, including women, when officials tried to open the Centre for Information System (CIS) that was blocked by students protesting against the fee hike and registration process.

While the January 3 complaint claims that the students switched off the power supply to the CIS and evicted staff forcefully, the January 4 complaint alleged that they damaged the information system.

They also claimed the students damaged the servers, made it dysfunctional, severely damaged optic fibre cables and broke the biometric system in the CIS. The complaint also cited a Supreme Court order that prevented any protest within 100 metres of Administration Block and claimed the students violated the direction.

The FIR filed on Sunday violence on the basis of the statement of Inspector Anand Yadav said that the first phase of violence was reported at 3.45 pm when "40-50 unidentified" people who had "covered their faces" attacked students in Periyar Hostel and the situation was brought under control.

However at around 7 pm, "50-60 people with rods in their hands" targeted students in Sabarmati Hostel in which students were attacked and public property destroyed.

The FIR said that students were injured but skipped the mention of the attack on teachers, who were injured. At least two faculty members Sucharita Sen and Ameet Parameswaran were taken to AIIMS while several other teachers suffered minor injuries.

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Agencies
May 1,2020

New Delhi, May 1: Amid the lockdown due to the COVID-19 pandemic, the University Grants Commission (UGC) and the Human Resource Development Ministry are planning to conduct the PhD and MPhil exams through online mediums in various universities across the country. The universities have been informed by the UGC and the MHRD about this.

Union Human Resource Development Minister Ramesh Pokhriyal 'Nishank' said, "Phd, MPhil exams, practicals, viva etc can be conducted through Skype or any other meeting apps."

When this system is implemented in colleges, students will not have to wait long for various types of examinations. Especially internal examinations can be taken online. Students' viva tests can also be conducted via Skype or any other similar meeting apps.

Regular classes in the universities will resume after the lockdown is removed. The classes for the first year will start from September 1 while for the second and third years the classes will start from August 1. However, students of various colleges will have to appear for basic exams in July.

A special committee constituted by the UGC has emphasized on conducting examinations online. The committee in its recommendation said that various colleges and universities should conduct online examinations including internal exams of colleges for 25 per cent marks.

The National Testing Agency (NTA), on the advice of the Ministry of Human Resource Development, has extended the date of filling the entrance examination forms for various universities.

According to the orders of the NTA, the date of filling the form for the entrance examinations of Jawaharlal Nehru University, National Council for Hotel Management 'G' and for Phd and MBA from IGNOU has been extended till May 15.

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