Plea for FIR against Arvind Kejriwal, Ramdev, Prashant Bhushan dismissed

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 9: India reported the highest single-day spike of 24,879 new positive cases and 487 deaths in the last 24 hours, taking the total number of COVID-19 cases in the country to 7,67,296, according to the Union Ministry of Health and Family Welfare.

Out of the total number of cases, 2,69,789 are active, 4,76,378 have been cured/discharged/migrated and 21,129 have died.

Maharashtra remains the worst-affected state due to COVID-19 with as many as 2,23,724 cases, including 91,084 active, 1,23,192 cured/discharged and 9,448 deaths.

It is followed by Tamil Nadu (1,22,350) and Delhi (1,04,864).

Meanwhile, a total of 1,07,40,832 samples have been tested for COVID-19 till July 8. Of these, 2,67,061 samples were tested yesterday, stated Indian Council of Medical Research (ICMR).

New Delhi, Jun 30: With a spike of 18,522 COVID-19 cases in the last 24 hours, India's coronavirus count now stand at 5,66,840, said the Union Health and Family Welfare Ministry on Tuesday.

According to the Ministry, 418 deaths due to COVID-19 were reported in the last 24 hours. The number of deaths in the country now stands at 16,893.

There are 2,15,125 active coronavirus cases in the country while the number of cured/discharged patients stands at 3,34,821 and one patient migrated.

As per the Ministry, Maharashtra is the worst-hit state with regard to the COVID-19 cases and has reported 1,69,883 cases, including 73, 313 active cases 88,960 cured/discharged patients and 7,610 fatalities.

Tamil Nadu has a total of 86,224 cases including 1,141 deaths. Delhi's COVID-19 count stands at 85,161 cases and 2,680 fatalities.

The total number of samples tested up to 29 June is 86,08,654 of which 2,10,292 samples were tested yesterday, informed the Indian Council of Medical Research.