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.

Comments

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
May 26,2020

Warangal, May 26: A 26-year-old man from Bihar was arrested here for murdering nine people by throwing them into a well to cover the murder of a woman, police said on Monday.

Dr Ravinder, Commissioner of Police (CP), Warangal, said that the bodies were recovered on May 21 and May 22 from the well. Investigation has revealed that the accused, Sanjay Kumar Yadav, killed all of them to cover up the murder of Rafiqa, with whom he had a relationship.

He said that Yadav got acquainted with a person named Maqsood and his sister-in-law Rafiqa. "Slowly, he came close to Rafiqa and started living together with her three children. Yadav tried to misbehave with Rafiqa's 15-year-old daughter. Rafiqa did not like this and threatened to lodge a complaint against him," Ravinder said.

"Then, Yadav planned to kill Rafiqa in order to live with her daughter. Yadav promised Rafiqa to marry. They boarded a train to West Bengal from March 7. Yadav mixed sleeping tablets in the food packet and later strangulated her, and threw her body outside the train," he said.

According to police, Yadav later came back to Warangal but Maqsood's wife Nisha started questioning him about the whereabouts of Rafiqa.

"Nisha threatened to lodge a police complaint against him. With a premeditated motive, from May 16 to May 20, he visited Maqsood's family who stayed in a gunny bag factory," he said.

Yadav purchased sleeping pills from Warangal and mixed in the food on the birthday of Maqsood's elder son on May 20, police said.

"Maqsood and his five family members were living there. Yadav mixed sleeping pills in the food and later they consumed it. Maqsood's family friend Shakeel was also there. Then, he went to the first floor of the factory where two labourers were staying. He mixed sleeping pills in their food too. He suspected that they may get up and create a problem. To cover up the murder of Rafiqa, he killed nine people," Ravinder said.

At around 12:30 am, Yadav woke up and saw that everyone is asleep, according to police.

"Then, he used the gunny bags to drag all the nine people into the well. He threw the gunny bag one by one into the well," Ravinder said.

According to the police, six teams were deployed to investigate the case.

"Yadav has been arrested now and will be taken to police custody. We will collect all evidence and ensure that he gets maximum punishment for this offence," Ravinder said.

 

Comments

abdullah
 - 
Thursday, 4 Jun 2020

Yadav will be released by court saying that he is mentally sick and he did not kill 10 people intentionally.  

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Agencies
July 21,2020

New Delhi, Jul 21: Air India trade unions have complained to Civil Aviation Minister Hardeep Puri that the government has now turned a blind eye to the management's ethnic cleansing at lower levels through compulsory leave without pay (LWP), redundancies and wage cuts.

In a letter to Puri, the Joint Action Forum of Air India unions said, "We are deeply ashamed to say that it seems that after praising our Air Indian Corona Warriors at grand functions, respectfully, the government has now turned a blind eye to this management's ethnic cleansing of Air Indians at the lower levels, through compulsory LWP, redundancies and wage cuts."

The Joint Action Forum of Air India unions strongly opposes this Compulsory Leave without pay scheme as it is an illegal practice and is not a voluntary scheme.

"In fact the Board resolution itself empowers the Chairman and Managing Director with extraordinary powers, which seem akin to a High Court, to pack off employees on 2 years leave (extended to 5 years) at CMD's discretion or at the arbitrary whim of the Regional heads," the trade unions said.

"This said Compulsory LWP scheme violates every labour law put in place by Parliament and orders of the Supreme Court and various other courts and seeks to dispossess the lower categories workers of their legally guaranteed rights," it added.

The trade unions have pointed out that the redundancies are at the elite management cadre level and not the workers.

"We are indeed shocked that the management of Air India could prepare and formulate a scheme for compulsorily sending workers on leave without pay, which is akin to an illegal lay-off, under the garb of a Leave Without Pay, when ironically the redundancy actually lies in the upper echelons of management and not with the humble workers of Air India, who have slogged to make our Airline the treasure it is," they complained to Puri.

"It must be noted that out of 11,000 permanent employees, our management occupies almost 25% as Executive Cadre, with little or no accountability. Solely amongst the Elite Management Cadre, we have 121 top officers ranking from DGMS, GMs, EDs to Functional Directors, most of whom are either performing duplicate job functions or are indeed redundant and not to mention the retired relics serving as consultants and also the CEOs of various subsidiary companies," they added.

Trade unions said the redundancy or compulsory leave without pay scheme if any at all, has to apply only to these Executives, more so, when they do not even have protection of labour laws or Supreme Court orders.

Strangely, the topmost corporate executive cadre and the backroom Generals, have saved themselves from the axe of wage cuts, by sacrificing a piffling of a few grand, whilst the frontline warriors of flying cabin crew, engineers, ground staff have borne the biggest brunt head on, the unions said.

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News Network
April 11,2020

Malappuram, Apr 11: Farmers in Malappuram district are facing problems in selling cucumbers and watermelons due to the drop in demand and prices in the market amid the nationwide COVID-19 lockdown.

"We have cultivated cucumbers for our Vishu festival in Kerala. In recent conditions, we are facing issues in selling our crops. In comparison to the previous years, we have a huge production this time," said Saifu, a farmer in the Malappuram district.

"We have also cultivated different kinds of watermelons here. The major issues that we are facing are the low prices and the lockdown," he added.

The nationwide COVID-19 lockdown was imposed by Prime Minister Narendra Modi form March 25 for 21 days as a precautionary measure against the spread of the virus.

According to the Union Ministry of Health and Family Welfare, the total number of positive COVID-19 cases in Kerala is 364. Till now, 123 people have either been cured or discharged, while two deaths have been reported.

The total number of positive coronavirus cases across the country are 7,529 including 6,634 active cases. So far, 652 patients have either been cured or discharged while 242 deaths have been recorded in the country, as per data provided by the Ministry of Health on Saturday evening.

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