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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102128) | |
23361. Economy improving fast, growth to turn positive in Q3, Q4 of FY21: Ashima Goyal
- GDP growth will turn positive in the third and fourth quarters of the current financial year, "The RBI has implemented a number of excellent measures that are also reversed in time, without adverse effects-such as the moratorium
- The budgeted fiscal deficit has already exceeded the budget estimate and the combined Centre plus states fiscal deficit is expected to reach 12 per cent this year Other global agencies Fitch Ratings and S&P have projected India's economic contraction at 10.5 per cent and 9 per cent respectively.
- true monetization is only if the RBI has to automatically finance a deficit by making a transfer to the government without any rise in government debt.
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23362. Reforms to unleash employment-led growth vs jobless expansion earlier: CEA
- India will soon launch an ambitious 'Deep Ocean Mission' that envisages exploration of minerals, energy and marine diversity of the underwater world, a vast part of which still remains unexplored.
- required approvals are being obtained for the "futuristic and game-changing" mission. The mission, which is expected to cost over Rs 4,000 crore, will give a boost to efforts to explore India's vast Exclusive Economic Zone and Continental Shelf
- The ISA earlier approved 10,000 sq. km for India with a 15-year PMS exploration plan along the Central Indian Ridge and Southwest Indian Ridge region of the Indian Ocean
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23363. Giving cheaper food to reducing wastage, India on path towards achieving SDGs: Govt
- The country is on its way towards achieving the UN's Sustainable Development Goals as it is reaching out to over 81 crore poor people with subsidised grains via ration shops, reducing farm wastage and promoting eating nutritious food.
- The government is bearing a food bill of around Rs 1 lakh crore annually. The Sustainable Development Goals were adopted by all United Nations member states in 2015. The 17 SDGs, including action to end poverty, are to be achieved by 2030.
- The government has also tied up with ICAR and CSIR that are putting together all ongoing research works on a new portal which will be launched for a wider audience
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23364. GDP shrinks 7.5% in Q2; manufacturing picks up, services sector worst hit
- India’s economy shrank for the second straight quarter through September, recording a 7.5 per cent contraction in its Gross Domestic Product (GDP) in JulySeptember, according to data released by the National Statistical Office (NSO) .
- The latest data is a significant improvement over the unprecedented 23.9 per cent year-on-year contraction in April-June due to damage inflicted by the pandemicinduced lockdown. However, given that there have been two consecutive quarters of contraction, the economy is technically in recession.
- The manufacturing sector emerged out of the negative territory (39.3 per cent contraction in Q1) to post a 0.6 per cent growth in Q2. Agriculture, forestry and fishing also grew 3.4 per cent, same as the first quarter. Electricity, gas and other services posted a 4.4 per cent growth as against a 7 per cent contraction in the previous quarter.
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23365. Sharp 23.9% GDP fall in Q1 will take at least a year to recover: Economists
- Current year will continue with a drop of 7-7.5% which is lower than the earlier anticipated 10%
- It will improve further unless there is one more lockdown to tackle the second wave of Covid-19 cases. We are more than half way through the December quarter; it seems it will be better,” said Harsh Mariwala, chairman, Marico
- Current year will continue with a drop of 7-7.5% which is lower than the earlier anticipated 10%
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23366. Nomura ups India's 2020 GDP forecast to -7.1% from -9%
- India's GDP contracted 7.5 in July-September as per official data. The GDP data for April-June quarter was even worse. The Indian economy recorded a contraction of 23.9 percent. Nomura has revised the GDP forecast for India to (-)8.2 percent from previously predicted (-)10.8 percent for FY21
- The Japanese firm has revised the gross domestic product (GDP) forecast for India to (-)8.2 percent from previously predicted (-)10.8 percent for FY21.
- Apart from the GDP contraction, India's eight core industries growth stood at (-)2.5 percent in October 2020, in comparison to (-)0.8 percent in September 2020. The data showed that the growth in the April-October 2020 in the eight-core sector was (-)13 percent in comparison to 0.3 percent on a yearly basis.
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23367. GST Collection increases in November 2020: नवंबर माह में हुआ 1.05 लाख करोड़ रुपये का जीएसटी संग्रह, वित्त मंत्रालय ने दी जानकारी
- नवंबर माह में जीएसटी संग्रह एक लाख करोड़ से अधिक हुआ है. वित्त मंत्रालय ने इस बात की जानकारी दी है.
- वित्त मंत्रालय के आंकड़ों के मुताबिक नवंबर, 2020 में वस्तु एवं सेवा कर के रूप में सरकार को 1,04,963 करोड़ रुपये की आमदनी हुई
- इसमें सीजीएसटी (CGST) के रूप में सरकार को 19,189 करोड़ रुपये की आमदनी हुई. एसजीएसटी (SGST) के रूप में सरकार ने 25,540 करोड़ रुपये जुटाए. आईजीएसटी (IGST) के रूप में सरकार को 51,992 करोड़ रुपये की आमदनी हुई. जबकि, सेस के जरिए सरकार को 8,242 करोड़ रुपये की आय हुई है.
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23368. Forex reserves down $469 million to $574.82 billion
- In the previous week ended November 20, the reserves had increased by $2.518 billion to touch a record high of $575.29 billion
- After touching a lifetime high in previous week, the country's foreign exchange reserves declined USD 469 million to USD 574.821 billion in the week ended November 27, RBI data showed.
- In the reporting week, the reserves declined despite an increase in foreign currency assets (FCA), a major component of the overall reserves. (REUTERS)
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23369. India can see economic recovery from next year, says Nirmala Sitharaman
- Union Finance Minister Nirmala Sitharaman on Friday said that India can see an economic recovery from next year backed by a coronavirus vaccine, reported the Hindustan Times. Her comments came after Prime Minister Narendra Modi, citing experts, told political parties that a vaccine against Covid-19 could be available for roll-out in the next few weeks.
- The finance minister also defended the Centre’s relief measures, saying that 30 crore people received cash transfers during the coronavirus lockdown.
- She, however, acknowledged that the fiscal deficit will certainly be higher than the 3.5% of GDP target set in the 2020 Union Budget..
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23370. FPIs pump in Rs 17,818 crore in just four trading sessions of December
- As per depositories data, foreign portfolio investors (FPI) pumped in a net sum of Rs 16,520 crore into equities and Rs 1,298 crore in the debt segment during December 1-4.
- This translated into a total net investment of Rs 17,818 crore during the period under review.
- In November, the total net investment of FPIs stood at Rs 62,951 crore.
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