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As GDP slumps to three-year low at 5.7 %, Congress hits out at Centre over DeMo, GST

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As GDP slumps to three-year low at 5.7 %, Congress hits out at Centre over DeMo, GST

[vc_row][vc_column][vc_column_text]The disappointing GDP figures for the April-June quarter come at a time when the Centre is already facing harsh criticism over the purported failure of demonetisation, with the RBI claiming that 99 per cent of banned notes made their way back to various commercial banks

Even as the Centre was trying hard to defend Prime Minister Narendra Modi’s 10-month old demonetisation move amid counter-claims that almost established how the move to curb black money had failed miserably, the latest GDP figures – 5.7 per cent for the April-June quarter – have further strengthened the argument that noteban was bad for the economy.

On Thursday, data released by the government revealed that the economic growth of India had slipped to a three-year low of 5.7 per cent in April-June, possibly due to disruptions caused by demonetisation and the rollout of the Goods and Services Tax regime and a slowdown of the manufacturing sector which itself was a result of a combination of noteban and GST rollout. GDP stood at 6.1 per cent in the preceding quarter. A revised growth of 7.9 per cent had been pegged by the government for the first quarter of 2016-17.

The latest GDP data has come, by Union finance minister Arun Jaitley’s own confession, as a “matter of concern”. The Congress party – which had been steadfast in its criticism of demonetisation and also the manner in which the GST rollout took place – has expectedly hit out at the Centre for the slump in the GDP growth figures.

As businesses destocked inventories ahead of the GST kick-off from July 1, gross value added (GVA) in manufacturing declined to a low of 1.2 per cent, from 10.7 per cent, year on year. Gross Domestic Product (GDP) growth in the first quarter of 2017-18 was lower than 6.1 per cent of the preceding one and 7.9 per cent in the same period last fiscal.

The finance minister admitted that the slump in the GDP was fuelled by the GST rollout, although he didn’t count demonetisation as a reason for the same. “Since it was announced that GST would come into operation from July 1, most manufacturers were de-stocking during period April-June. As a result, trading went up because sales were taking place but it was stocks which were being sold. No new manufacturing happened,” Jaitley said, adding that the slump in GDP “seems to be the pre-GST impact of de-stocking”.

When asked about whether the GDP can grow at 7 percent this fiscal, Jaitley said, “I am hopeful, because of the pre-GST de-stocking, this would really be the bottoming out.”

As GDP slumps to three-year low at 5.7 %, Congress hits out at Centre over DeMo, GSTFormer finance minister P Chidambaram, who has already been vociferous in his criticism of the manner in which the GST rollout took place and of demonetisation since the RBI admitted that 99 per cent of banned Rs 500 and Rs 1000 notes had been deposited back with the banks, took to Twitter to hit out at the Centre over the decline in the GDP numbers, which he called a “catastrophe”.[/vc_column_text][vc_raw_html]JTNDYmxvY2txdW90ZSUyMGNsYXNzJTNEJTIydHdpdHRlci10d2VldCUyMiUyMGRhdGEtbGFuZyUzRCUyMmVuJTIyJTNFJTNDcCUyMGxhbmclM0QlMjJlbiUyMiUyMGRpciUzRCUyMmx0ciUyMiUzRU91ciUyMHdvcnN0JTIwZmVhcnMlMjBoYXZlJTIwY29tZSUyMHRydWUuJTIwU3ViLTYlMjUlMjBncm93dGglMjBpcyUyMGElMjBjYXRhc3Ryb3BoZS4lM0MlMkZwJTNFJTI2bWRhc2glM0IlMjBQLiUyMENoaWRhbWJhcmFtJTIwJTI4JTQwUENoaWRhbWJhcmFtX0lOJTI5JTIwJTNDYSUyMGhyZWYlM0QlMjJodHRwcyUzQSUyRiUyRnR3aXR0ZXIuY29tJTJGUENoaWRhbWJhcmFtX0lOJTJGc3RhdHVzJTJGOTAzMjc5MTE5MTI2NzY5NjY0JTIyJTNFQXVndXN0JTIwMzElMkMlMjAyMDE3JTNDJTJGYSUzRSUzQyUyRmJsb2NrcXVvdGUlM0UlMEElM0NzY3JpcHQlMjBhc3luYyUyMHNyYyUzRCUyMiUyRiUyRnBsYXRmb3JtLnR3aXR0ZXIuY29tJTJGd2lkZ2V0cy5qcyUyMiUyMGNoYXJzZXQlM0QlMjJ1dGYtOCUyMiUzRSUzQyUyRnNjcmlwdCUzRSUwQSUyMCUwQSUzQ2Jsb2NrcXVvdGUlMjBjbGFzcyUzRCUyMnR3aXR0ZXItdHdlZXQlMjIlMjBkYXRhLWxhbmclM0QlMjJlbiUyMiUzRSUzQ3AlMjBsYW5nJTNEJTIyZW4lMjIlMjBkaXIlM0QlMjJsdHIlMjIlM0UxJTI1JTIwZGVjbGluZSUyMGluJTIwR0RQJTIwaXMlMjBhJTIwbG9zcyUyMG9mJTIwUnMlMjAxLjUlMjBsYWtoJTIwY3JvcmUuJTIwMiUyNSUyMGRlY2xpbmUlMjBpcyUyMGElMjBsb3NzJTIwb2YlMjBScyUyMDMlMjBsYWtoJTIwY3JvcmUuJTNDJTJGcCUzRSUyNm1kYXNoJTNCJTIwUC4lMjBDaGlkYW1iYXJhbSUyMCUyOCU0MFBDaGlkYW1iYXJhbV9JTiUyOSUyMCUzQ2ElMjBocmVmJTNEJTIyaHR0cHMlM0ElMkYlMkZ0d2l0dGVyLmNvbSUyRlBDaGlkYW1iYXJhbV9JTiUyRnN0YXR1cyUyRjkwMzI4MDAzODg5MTY3MTU1MyUyMiUzRUF1Z3VzdCUyMDMxJTJDJTIwMjAxNyUzQyUyRmElM0UlM0MlMkZibG9ja3F1b3RlJTNFJTBBJTNDc2NyaXB0JTIwYXN5bmMlMjBzcmMlM0QlMjIlMkYlMkZwbGF0Zm9ybS50d2l0dGVyLmNvbSUyRndpZGdldHMuanMlMjIlMjBjaGFyc2V0JTNEJTIydXRmLTglMjIlM0UlM0MlMkZzY3JpcHQlM0UlMEElMjAlMEElM0NibG9ja3F1b3RlJTIwY2xhc3MlM0QlMjJ0d2l0dGVyLXR3ZWV0JTIyJTIwZGF0YS1sYW5nJTNEJTIyZW4lMjIlM0UlM0NwJTIwbGFuZyUzRCUyMmVuJTIyJTIwZGlyJTNEJTIybHRyJTIyJTNFVGhlJTIwc2xpZGUlMjBpbiUyMGVjb25vbXklMjBjb250aW51ZXMuJTIwU2xvdyUyMGdyb3d0aCUyQyUyMGxvdyUyMGludmVzdG1lbnQlMjBhbmQlMjBubyUyMGpvYnMuJTIwQW4lMjBleHBsb3NpdmUlMjBjb2NrdGFpbC4lM0MlMkZwJTNFJTI2bWRhc2glM0IlMjBQLiUyMENoaWRhbWJhcmFtJTIwJTI4JTQwUENoaWRhbWJhcmFtX0lOJTI5JTIwJTNDYSUyMGhyZWYlM0QlMjJodHRwcyUzQSUyRiUyRnR3aXR0ZXIuY29tJTJGUENoaWRhbWJhcmFtX0lOJTJGc3RhdHVzJTJGOTAzMjc5Mzg4NTk4MzgyNTkyJTIyJTNFQXVndXN0JTIwMzElMkMlMjAyMDE3JTNDJTJGYSUzRSUzQyUyRmJsb2NrcXVvdGUlM0UlMEElM0NzY3JpcHQlMjBhc3luYyUyMHNyYyUzRCUyMiUyRiUyRnBsYXRmb3JtLnR3aXR0ZXIuY29tJTJGd2lkZ2V0cy5qcyUyMiUyMGNoYXJzZXQlM0QlMjJ1dGYtOCUyMiUzRSUzQyUyRnNjcmlwdCUzRQ==[/vc_raw_html][vc_column_text]Economic experts too admitted that the slump in GDP was due to a combination of the GST rollout and impact of demonetisation.

Abheek Barua, Chief Economist of the HDFC BANK said, “GDP numbers are certainly disappointing. The numbers seem to suggest that the slowdown from last quarter has intensified due to the combination of long-term slowdown and temporary shock factors like demonetisation and GST (goods and services tax) destocking… We have to revise our GDP outlook numbers for the full year closer or perhaps lower than 7 percent.”

Noted economist Arup Kumar too expressed similar views, saying “demonetisation has been a complete and utter failure and its impact on the GDP growth figures is evident… the GST rollout too has taken its toll on economic growth and I don’t see the impact of either of these factors, especially demonetisation, waning for at least another quarter”.

It is perhaps timely to recall that in late November 2016, former Prime Minister Manmohan Singh had – while addressing the Rajya Sabha – called demonetisation a ‘mammoth tragedy’ and warned about a 2 percent hit on GDP in the aftermath of the demonetisation. The Narendra Modi government and demonetisation cheerleaders had then rubbished Singh’s prophecy. After 10 months of demonetisation, with no major tangible gains from the exercise and a severe hit on the economy, Dr Manmohan Singh is probably having the last laugh now.[/vc_column_text][/vc_column][/vc_row]

India News

Indian Army Agniveer CEE Result 2026 declared, ARO-wise merit list released

The Indian Army has announced the Agniveer CEE Result 2026. Candidates can now download the ARO-wise merit list and check their eligibility for the next stages of recruitment.

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Indian Army Agniveer Result

The Indian Army has announced the Agniveer Common Entrance Examination (CEE) Result 2026, allowing candidates to check their qualifying status through the official recruitment portal. The Army Recruitment Office (ARO)-wise merit lists have been uploaded on joinindianarmy.nic.in, where candidates can download the PDF corresponding to their recruitment region.

The merit lists contain the names and roll numbers of candidates who have successfully cleared the written examination and become eligible for the next phase of the Agniveer recruitment process.

How to check Indian Army Agniveer CEE Result 2026

Candidates can access their results by following these steps:

  • Visit the official Indian Army recruitment website.
  • Click on the Agniveer CEE Result 2026 link available on the homepage.
  • Select the relevant Army Recruitment Office (ARO) or recruitment region.
  • Download the merit list PDF.
  • Search for your roll number or name to confirm your qualification status.

What happens after the Agniveer CEE result?

Candidates shortlisted in the Common Entrance Examination will now have to undergo the remaining stages of the recruitment process. These include:

  • Physical Fitness Test (PFT)
  • Physical Measurement Test (PMT)
  • Document Verification (DV)
  • Medical Examination

Only candidates who successfully clear every stage will be considered for final selection under the Agniveer recruitment programme.

Candidates advised to verify details carefully

After downloading the merit list, candidates should carefully check all the information mentioned in the document. If they notice any discrepancy related to their result or personal details, they should immediately contact their respective Army Recruitment Office (ARO) for assistance.

Candidates are also advised to keep checking the official Indian Army recruitment portal for updates regarding the schedule, venue and instructions for the upcoming physical tests, document verification and medical examination.

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India News

Delhi air quality slips to poor as AQI reaches 261, highest in over 85 days

Delhi’s air quality entered the ‘poor’ category after AQI touched 261, its highest level since April 17. Authorities attributed the spike to transnational dust from Afghanistan, Iran and Pakistan.

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Delhi air quality

Delhi’s air quality fell into the ‘poor’ category on Sunday after the city’s Air Quality Index (AQI) climbed to 261, marking its highest level in more than 85 days, according to official data.

The reading was the highest since April 17, when the AQI stood at 263. Just a day earlier, Delhi had recorded an AQI of 140, while air quality had largely remained in the ‘moderate’ and ‘satisfactory’ categories for most of the month.

Transnational dust behind spike in pollution

The Commission for Air Quality Management (CAQM) said the sudden deterioration in Delhi-NCR’s air quality was mainly caused by long-range winds carrying mineral dust generated by storm activity in Afghanistan, Iran and Pakistan.

According to the commission, these dust-laden winds reached northwestern India, including Delhi, resulting in a significant rise in PM10 concentrations. Strong surface winds across the Indo-Gangetic Plain also contributed to the increase in pollution levels.

The CAQM said Delhi’s air quality is expected to remain in the ‘poor’ category for the next few days before improving once the transnational dust spell weakens.

No GRAP Stage-I restrictions for now

Despite the worsening air quality, the CAQM decided not to implement GRAP Stage-I restrictions, stating that the current pollution episode has been triggered by transnational dust rather than local emission sources.

However, the commission directed the Delhi Pollution Control Committee (DPCC) to intensify dust control measures across the city.

As per the Central Pollution Control Board (CPCB), an AQI between 201 and 300 falls under the ‘poor’ category.

Delhi experiences humid weather

The India Meteorological Department (IMD) said the maximum temperature at Safdarjung reached 36.8 degrees Celsius, which was 1.3 degrees above normal, while the minimum temperature settled at 28.3 degrees Celsius, one degree above the seasonal average.

Although the actual maximum temperature remained below 37 degrees Celsius, high humidity pushed the feels-like temperature to 45.7 degrees Celsius by 5:30 pm.

Among other weather stations, maximum temperatures were recorded at 37 degrees Celsius at Lodhi Road, 36.6 degrees Celsius at Palam, 36.2 degrees Celsius at Ayanagar and 36 degrees Celsius at Ridge.

Minimum temperatures stood at 27.1 degrees Celsius in Palam, 27.2 degrees Celsius in Lodhi Road, 27.4 degrees Celsius in Ayanagar and 25.6 degrees Celsius at Ridge.

Weather outlook

The IMD has forecast strong surface winds during the daytime on Monday, with the maximum and minimum temperatures likely to remain around 37 degrees Celsius and 27 degrees Celsius, respectively.

Relative humidity varied between 64 per cent at 8:30 am and 52 per cent at 5:30 pm.

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India News

Red Fort bomb threat declared hoax after extensive security checks in Delhi

Delhi Police declared a bomb threat targeting the Red Fort a hoax after conducting a detailed security search following an alert received from Mumbai Police.

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Red fort

Delhi’s iconic Red Fort witnessed heightened security on Saturday after authorities received a bomb threat targeting the historic monument. Following a detailed inspection and sanitisation drive, Delhi Police confirmed that the threat was a hoax and no explosives were found.

Threat call routed through Mumbai Police

According to officials, the threat was initially received by the Mumbai Police Control Room. The caller allegedly claimed that the Red Fort would be blown up.

Mumbai Police immediately shared the information with the Delhi Police Control Room, which alerted the North District Police. Security personnel were deployed at the monument, and a comprehensive search operation was launched to ensure public safety.

After completing the inspection, officials ruled out any security risk and declared the threat to be false.

Security concerns remain high after previous terror incident

The latest threat comes around eight months after a deadly vehicle-borne improvised explosive device (IED) blast near the Red Fort Metro Station claimed 15 lives and left several others injured.

Investigators had alleged that the blast was carried out by Umar-un-Nabi, a Kashmiri doctor associated with Al-Falah University in Faridabad, who was driving a Hyundai i20. The explosion occurred on the same day security agencies recovered around 2,900 kg of explosives, including ammonium nitrate, from neighbouring Faridabad in Haryana.

According to investigators, the accused allegedly triggered the explosion after two suspected associates were arrested and the explosives were seized during the operation.

Authorities had identified several other accused linked to the case. Investigators alleged that the group was part of a white-collar terror module associated with Ansar Ghazwat-ul-Hind, an al-Qaeda-affiliated terrorist organisation.

Earlier arrests linked to alleged attack plots

In May, Delhi Police’s Special Cell arrested nine men who were allegedly linked to Pakistan’s Inter-Services Intelligence (ISI) and fugitive gangster Dawood Ibrahim.

Police alleged that the accused were planning attacks on critical infrastructure and security personnel in Delhi, Mumbai and other parts of the country. According to investigators, potential targets included airports, railway stations, power plants and other vital installations.

Although Saturday’s bomb threat was found to be fake, the incident once again prompted swift security measures at one of the country’s most significant heritage sites.

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