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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Agencies
August 8,2020

New Delhi, Aug 7: With the highest single-day spike of 62,538 cases, India's COVID-19 count rose to 20,27,075 on Friday, said Union Ministry of Health and Family Welfare.

The total cases include 6,07,384 active cases, 13,78,106 cured/discharged/migrated, and 41,585 deaths, according to the Ministry of Health.

The country's COVID-19 positive cases crossed the 10 lakh mark on July 17 when the total positive cases stood at 10,03,832 in India.

Maharashtra with 1,46,268 active cases and 3,05,521 cured and discharged patients continues to be the worst affected. The state has also reported 16,476 deaths due to the infection.

Tamil Nadu has 54,184 active cases while 2,14,815 patients have been discharged after treatment in the state. 4,461 deaths have been reported due to COVID-19 in the state.

Total COVID-19 cases in Andhra Pradesh are 1,96,789 including 1,12,870 recoveries, 82,166 active cases, and 1,753 deaths, as per the last health bulletin.

Delhi reported 1,192 new COVID-19 cases and 23 deaths on Friday. The total count of cases in the national capital has risen to 1,42,723. 

According to the Health Department, a total of 1,108 recoveries have been reported in Delhi in the last 24 hours.

The total number of cases includes 1,28,232 recoveries, 10,409 active cases, and 4,082 deaths.

According to the official data, 5,612 RT-PCR/CBNAAT/TrueNat tests and 17,773 rapid antigen tests were conducted today.

A total of 11,43,703 test has been conducted so far. The Union Health Ministry said that India continues its track record of testing more than 6 lakh COVID-19 samples each day for the fourth successive day.

"Expanded diagnostic lab network and facilitation for easy testing across the country have given a boost, and with 6,39,042 tests conducted in the last 24 hours, India has done 2,27,88,393 tests presently. The Tests Per Million (TPM) has seen a sharp increase to 16,513," the ministry said.

As many as 473 new COVID-19 cases were reported in Jammu and Kashmir today; 128 from Jammu division and 345 from Kashmir division.

The total number of cases stood at 23,927 including 7,260 actives cases, 16,218 recoveries, and 449 deaths.

The government of Mizoram informed that 19 new COVID-19 cases were reported in the state, taking the total number of cases to 558.
The number of active cases is 270 while 288 people have been discharged. No death reported in the state to date.

Bihar Health Department said, 3646 new cases reported in the state on August 6. Total tally reaches 71,794.

Similarly, 244 new COVID-19 cases, 77 recoveries, and five deaths were reported in Puducherry on Friday, taking the total number of cases to 4,862, including 1,873 active cases, 2,914 recoveries, and 75 deaths.

1,063 new cases of COVID-19 cases, 381 recovered and 23 deaths reported in Punjab in the last 24 hours. State tally rises to 21,930 including 7,351 active cases, 14,040 cured/discharged and 539 deaths.

Meanwhile, 1,074 new cases of COVID-19 and 22 deaths reported in Gujarat in last the 24 hours. State tally rises to 68,885 including 14,587 active cases, 51,692 cured/discharged and 2,606 deaths, the State Health Department said.

According to the Union Health Ministry, West Bengal has 23,829 active cases with 1,902 deaths so far while, Karnataka has 75,076 active cases of the virus with 80,281 recovered and 2,897 deaths so far.

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News Network
February 4,2020

New Delhi, Feb 4: Leader of Congress in Lok Sabha, Adhir Ranjan Chowdhury, on Tuesday attacked the BJP over Anantkumar Hegde's controversial remark on Mahatma Gandhi and termed the party as "Ravan ke aulad" (children of Ravana). "Aaj ye Mahatma Gandhi ko gaali dete hain. Ye Ravan ke aulad hain. Ram ke pujari ka ye apmaan kar rahe hain (Today, they abuse Mahatma Gandhi. They are children of Ravan. They are insulting Lord Ram's devotee)," Chowdhury said.

Later, BJP lawmakers object to Chowdhury's statement. Hegde, who is a Lok Sabha MP from Uttara Kannada, had on Saturday said that the freedom struggle led by Mahatma Gandhi was a "drama".

"None of these so-called leaders were beaten up by the cops even once. Their independence movement was one big drama. It was staged by these leaders with the approval of the British. It was not a genuine fight. It was an adjustment freedom struggle," Hegde had said while addressing a public event in Bengaluru. While several Congress leaders, including Karti Chidambaram and BK Hariprasad, have condemned Hegde's remark, BJP leaders too have distanced themselves from it.

Top leadership in BJP is unhappy with Anantkumar Hegde over his controversial remark on Mahatma Gandhi, party sources had said on Monday, adding that he has been asked to issue an unconditional apology.

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News Network
May 11,2020

London, May 11: Fugitive diamond merchant Nirav Modi's five-day extradition trial over the nearly USD2 billion Punjab National Bank (PNB) fraud and money laundering case is set to begin in London's Westminster Magistrates' Court today.

The London High Court rejected Nirav Modi's bail plea in Punjab National Bank (PNB) bank fraud case for the fifth time in early March.

Modi, the prime accused in the PNB fraud case, is currently lodged at Wandsworth prison in south-west London and is wanted for his alleged role in the Rs 13,570 crore loss caused to the Punjab National Bank (PNB) along with his uncle, Mehul Choksi.

Modi, 48, was arrested in March last year by Scotland Yard in connection with the case.

Modi was remanded in custody till February 27, 2020, after he appeared before a UK court on Thursday via video link from his London prison.

The latest bail hearing followed further assurances by Modi, including an increase in the amount of security he had offered as a guarantee as well as stricter bail conditions.

On his last bail application, Modi offered USD 4 million as a security guarantee in return for bail, an offer that was rejected by judges who ruled that there was a real risk that Modi would flee the UK to a country which has no extradition treaty with India.

At the same hearing, the judge ruled that there was "strong evidence" that Modi had engaged in "witness intimidation" and destroying evidence.

Given the seriousness of such allegations, it was all but certain that the latest bail application would be rejected.

Modi's lawyers had contended that their client was being held in difficult conditions at Wandsworth prison and had also claimed that his mental health was deteriorating as a result of his incarceration.

However, ruling at the High Court today, Justice Ian Dove said there was a "clear need for this application to be refused in the present circumstances."

It comes just days after the second sale of assets belonging to Modi valued at millions of dollars.

The items include a luxury Rolls Royce car, a Patek Philippe watch and a painting by the renowned Indian artist Amrita Sher-Gil valued at USD 2.5 million but expected to fetch considerably more.

Meanwhile, Nirav's brother Neeshal Modi, who is also one of the co-conspirators in the PNB scam, has written to Enforcement Directorate, distancing himself from his brother's actions and said that he had no knowledge of it.

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