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India’s GDP grows at 8.4% in September quarter, key highlights of data released by Centre

The National Statistical Office (NSO) has released the official data of India’s economic growth for FY22 on Tuesday, November 30.

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GDP Growth

The National Statistical Office (NSO) has released the official data of India’s economic growth for FY22 on Tuesday, November 30. As per the data, the nation’s gross domestic product (GDP) for the second quarter that ended September 30 grew by 8.4%.

The Ministry of Statistics & Programme Implementation said in a statement that India’s GDP at constant (2011-12) Prices in Q2 2021-22 is estimated at Rs 35.73 lakh crore, as against Rs 32.97 lakh crore in Q2 2020-21, showing a growth of 8.4 percent as compared to 7.4 percent contraction in Q2 2020-21.

Key highlights of data released by the Centre

  • The data showed that given the Covid-19 restrictions in several parts of the country, the quarterly GDP growth was better than expected. This was possible as the business activities across the country were resumed.
  • The data also showed that manufacturing sector, that had shrunk 1.5% in Q2 FY21, grew by 5.5% in the second quarter.
  • The agriculture sector grew by 4.5% in the second quarter as compared to 3% during the same period in 2020.
  • In the second quarter, investments measured by Gross Fixed Capital Formation showed a 11% spike and government expenditure rose by 8.7% in the second quarter.
  • Contact intensive industry like hotels and transport showed a growth of 8.2% and mining industry grew by 15.4%.
  • The electricity, gas, water supply, and other utility services witnessed a growth of 8.9%.
  • The data also showed that the financial, real estate, and professional services saw the growth of 7.8% in the second quarter.

Read Also: LIVE Top News Today: Opposition leaders protest in Parliament premises demanding suspension of 12 Rajya Sabha MPs

In the last quarter (April-June), the Indian economy saw a growth of 20.1 percent compared to the same period last year, when the country was hit by the pandemic. The GDP had shrunk 24.4 percent in April-June 2020. Earlier, the Reserve Bank of India (RBI) had projected the real GDP growth rate for July-September at 7.9 percent.

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Rain, thunderstorms hit Delhi-NCR as IMD issues weather alert for next two days

Delhi, Noida, Gurugram and Ghaziabad are likely to witness rain, thunderstorms and gusty winds after IMD issued a weather alert for the region.

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Heavy rainfall in Delhi, storm

Rain, thunderstorms and gusty winds lashed parts of Delhi-NCR, bringing relief from the intense summer heat, while the India Meteorological Department (IMD) issued a yellow alert for the next two days. The weather department has forecast more showers, thunderstorms and strong winds across Delhi, Noida, Gurugram and Ghaziabad.

According to IMD, cloudy skies, light to moderate rainfall, thunderstorms and gusty winds may occur at several locations in Delhi-NCR. Wind speeds could reach 40-50 kmph and may gust up to 60 kmph during thunderstorm activity.

The weather department has advised residents to remain cautious during periods of strong winds and lightning. The expected rainfall is likely to keep temperatures lower than usual for early June, extending the relief from intense heat that the region witnessed in recent weeks.

Rain activity likely across NCR cities

The forecast indicates that Noida, Gurugram and Ghaziabad are also expected to receive spells of rain accompanied by thunderstorms over the coming days. Similar weather conditions have been predicted across much of the NCR region as atmospheric instability continues to influence northwestern India.

Recent spells of rain and dust storms have already brought down temperatures across Delhi-NCR, with weather officials predicting additional showers before conditions gradually improve later in the week.

Residents have been advised to monitor weather updates and avoid open areas during thunderstorms and lightning activity. Authorities also caution that strong winds may affect traffic movement and outdoor activities in some areas.

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Vijay allocates Tamil Nadu’s lone Rajya Sabha seat to Congress

Tamil Nadu Chief Minister Vijay has handed the state’s lone vacant Rajya Sabha seat to Congress, strengthening alliance ties ahead of the upcoming Upper House elections.

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Actor vijay

Tamil Nadu Chief Minister and TVK chief Vijay has allotted the state’s lone vacant Rajya Sabha seat to alliance partner Congress, a move that further strengthens cooperation between the two parties after the formation of the new government. The decision comes ahead of the Rajya Sabha elections scheduled for June 18.

The allocation is being seen as an important political gesture by Vijay towards Congress, which has emerged as a key ally of the ruling coalition in Tamil Nadu. Congress currently has five MLAs supporting the government and is also represented in the state cabinet.

Sources indicate that senior Congress leader and All India Congress Committee functionary Praveen Chakravarty is likely to be the party’s nominee for the Rajya Sabha seat. His nomination is expected to be filed in the coming days.

Move reinforces TVK-Congress partnership

The decision follows recent interactions between senior Congress leaders and the Tamil Nadu leadership, including a meeting between veteran Congress leader P. Chidambaram and Chief Minister Vijay. Political observers view the Rajya Sabha seat-sharing arrangement as another step towards consolidating the alliance ahead of future electoral contests.

Congress had reportedly sought the Rajya Sabha berth from its ally, and the allocation is expected to increase the party’s representation in the Upper House from Tamil Nadu. With the latest development, Congress is set to have two Rajya Sabha members from the state along with representation in the state government.

The Rajya Sabha bypoll had earlier been viewed as an opportunity for Vijay’s TVK to secure its first direct entry into Parliament. However, the party chose to back its ally, highlighting the importance it places on coalition politics and alliance management.

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Union Cabinet approves Rs.10,000 crore jet fuel price stabilisation fund to support airlines

The Centre has approved a Rs. 10,000 crore Aviation Turbine Fuel Price Stabilisation Fund to support airlines and oil companies facing pressure from rising global fuel prices.

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The Union Cabinet on Wednesday approved a one-time budgetary support of up to Rs. 10,000 crore to help stabilise Aviation Turbine Fuel (ATF) prices for scheduled Indian airlines, offering relief to a sector grappling with elevated fuel costs amid global geopolitical tensions.

The government said the financial support will be provided to oil marketing companies (OMCs) to offset under-recoveries arising from supplying aviation fuel at moderated rates. The move is aimed at reducing the impact of sharp fuel price fluctuations on airlines and ensuring continuity of air services.

Why the government approved the fund

The decision comes as aviation fuel prices remain under pressure due to the ongoing crisis in West Asia, which has pushed up global energy costs. Fuel is one of the largest operating expenses for airlines and can account for up to 40% of total operating costs.

According to the government, the fund is intended to help maintain stable aviation operations and protect domestic and international air connectivity from disruptions caused by fuel price volatility.

How the fund is expected to help airlines and passengers

By cushioning the impact of rising fuel prices, the stabilisation mechanism is expected to ease financial pressure on airlines and limit the extent of fare increases that could otherwise be passed on to passengers. The support will be routed through OMCs, which have been bearing the burden of moderated fuel pricing.

Reports indicate that the fund has been designed as a stabilisation mechanism that can help the aviation sector manage periods of extreme fuel price volatility triggered by international crises.

Part of broader Cabinet decisions

The ATF Price Stabilisation Fund was among several key decisions approved by the Cabinet on Wednesday as part of a wider package covering aviation, transport and infrastructure initiatives.

The government said the measure is aimed at safeguarding the aviation ecosystem and ensuring that air services remain sustainable despite global market uncertainties.

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