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New Delhi, Jan 31: Chief Economic Adviser K V Subramanian on Friday said India's GDP is expected to grow at 6-6.5 per cent next fiscal as the economic slowdown has bottomed out.

As per the first advance estimates released by the National Statistical Organisation (NSO), the country's economic growth is likely to hit an 11-year low of 5 per cent in the current fiscal ending March 2020.

The Economic Survey 2019-20, prepared by a team lead by Subramanian, has projected the GDP to expand in the range of 6-6.5 per cent during 2020-21.

The Indian economy has hit the bottom and it will see an uptick from here, he said in a media briefing post the Economic Survey.

Amidst a weak environment for global manufacturing, trade and demand, the Indian economy slowed down with GDP growth moderating to 4.8 per cent in the first half of 2019-20, lower than 6.2 per cent in H2 of 2018-19.

Based on NSO's first advance estimates of GDP growth for 2019-20 at 5 per cent, an uptick in GDP growth is expected in the second half of the fiscal, it said.

According to it, the uptick in second half of 2019-20 would be mainly due to ten positive factors like picking up of Nifty India Consumption Index for the first time this year, an upbeat secondary market, higher FDI flows, build-up of demand pressure, positive outlook for rural consumption, rebound of industrial activity, steady improvement in manufacturing, growth in merchandise exports, higher build-up of foreign exchange reserves and positive growth rate of GST revenue collection.

The survey also emphasised that merger of public sector banks may increase the financial strength of the merged entities, lower the risk aversion and result in lowering of lending rates.

Further, as the implementation of GST further settles down, the increased unification of the domestic market may reduce business costs and facilitate fresh investment.

Reforms in land and labour market may further reduce business costs, said the survey, presented a day before Sitharaman's Union Budget 2020-21.

New Delhi, Jul 21: With a spike of 37,148 cases and 587 deaths reported in India in the last 24 hours, the total number of COVID-19 cases stands at 11,55,191, according to the Union Ministry of Health and Family Welfare.

The total number of cases include 4,02,529 active cases, 7,24,578 cured/discharged/migrated and 28,084 deaths, the ministry informed.

Maharashtra remains the worst affected state with 3,18,695 cases and 12,030 deaths.
The second worst-hit state, Tamil Nadu has reported 1,75,678 COVID-19 cases so far while Delhi has reported 1,23,747 cases, according to the Health Ministry.

Meanwhile, as per the information provided by the Indian Council of Medical Research (ICMR), 1,43,81,303 samples have been tested for COVID-19 up to July 20. Of these 3,33,395 were tested yesterday.

New Delhi, Apr 10: Actor Akshay Kumar has pledged to contribute Rs 3 crore to Brihanmumbai Municipal Corporation (BMC) to assist the making of personal protection equipment, masks and rapid testing kits to help the battle against COVID-19.

Film critic and movie trade analyst Taran Adarsh announced on the same on Twitter on Friday and wrote, "After donating Rs25 crores to the PM CARES fund, Akshay Kumar contributes Rs3 crores to BMC to assist in the making of PPE, masks and rapid testing kits."

The 'Good Newwz' actor has been informing people about the necessary precautions to be taken to stay safe amid the coronavirus outbreak through his social media handles. On Thursday, Akshay acknowledged the contribution of all essential workers during the lockdown period, and encouraged people to use the hashtag 'Dil Se Thank You' to express their gratitude to the people "who work to ensure our safety."

Earlier, the 'Mission Mangal' actor joined hands with actors including, Kartik Aaryan, Tiger Shroff, Taapsee Pannu, Kiara Advani and launched a hope anthem - 'Muskurayega India,' and made an attempt to pump up Indians with positivity amid the testing times of coronavirus.
The Ministry of Health and Family Welfare on Friday informed that India's total number of COVID-19 positive cases now stands at 6,412.

Out of the total cases, 5,709 are active patients and 504 of them have been cured/discharged and migrated. With 30 new deaths reported in the last 12 hours, the death toll reached 199, according to the ministry.