GDP growth slowing to 4-year low of 6.5% in 2017-18

News Network
January 6, 2018

New Delhi, Jan 6: The Central Statistics Office (CSO) on Friday forecast that GDP growth in the current financial year ending March 31 will slow to a four-year low of 6.5%, from the provisional 7.1% pace seen in 2016-17, dragged down by deceleration in the agriculture and manufacturing sectors.

Gross Value Added (GVA) was also projected to expand by 6.1% in 2017-18, slowing from 6.6% in the preceding fiscal year, according to the first advance estimates of national income for 2017-18, released by the CSO.

Within this, the GVA growth rate for ‘agriculture, forestry and fishing’ is expected to slow sharply to 2.1%, compared with the previous year’s 4.9% pace. Manufacturing sector growth has been forecast at 4.6% in 2017-18, compared with the 7.9% expansion provisionally estimated for 2016-17.

“In agriculture, what we are seeing is a base effect because last year saw a very high growth rate because it followed two years of drought,” Statistics and Programme Implementation Secretary and Chief Statistician of India TCA Anant said at a press conference in the national capital. “In terms of production, the total production would probably be the second highest in a very long time. It is not unusual growth in agriculture in a good year.”

The CSO’s GVA full-year growth estimate of 6.1%, compares with a 6.7% pace that the Reserve Bank of India had forecast at its December policy meeting.

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kushal kumar
 - 
Saturday, 6 Jan 2018

According  to  latest  news  reports  in  first  week  of  January  ,  2018  ,  India’s  GDP  is  estimated  to  grow  at  6.5%  during  2017-18 ,  a  four   year   low.  This  estimated  or  feared  circumstance  in  India’s  economy  is  in  line  with  the  related  predictions  of  this  Vedic  astrology  writer  in  article  -  “  Astrologically  speaking  ,  some  highlights  for  India  in  coming  year  year  2018”  -  published in a media  on  19  October  ,  2017.  Just  reproducing  the  text  relevant  to  the  point  from  the  said  article  :- “  The  year  2018  looks  to  be  …………Economy  may  pass  through  tense  times  on  more  than  one  front  except  art  ,  entertainment  ,  cinema  ,  creative  or  innovative  talents  which  may  do  well  to  contribute  whatsoever  to  the  economy”.     It  seems  these  alerts  for   taking  more  care  and  appropriate  strategy  in  2018  in  relation  to  economy  in  India  are  meaningful.

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News Network
November 15,2024

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Union minister Amit Shah on Friday, November 15, said PM Narendra Modi will amend the Waqf Act despite opposition from leaders like Uddhav Thackeray and Sharad Pawar.

"Modi ji wants to change the Waqf Board law, but Uddhav ji, Sharad Pawar and Supriya Sule are opposing it," Shah said, addressing a rally at Umarkhed in Maharashtra's Yavatmal district.

"Uddhav ji, listen carefully, you all can protest as much as you want, but Modi ji will amend the Waqf Act," he said. Shah said there are two camps in the November 20 Maharashtra assembly polls, one of 'Pandavas' represented by the BJP-led Mahayuti and the other of 'Kauravas' represented by Maha Vikas Aghadi.

"Uddhav Thackeray claims that his Shiv Sena is the real one. Can the real Shiv Sena go against renaming Aurangabad to Sambhajinagar? Can the real Shiv Sena go against renaming Ahmednagar to Ahilyanagar? The real Shiv Sena stands with the BJP," Shah said.

"Rahul Baba used to say that his government would credit money in the accounts of the people instantly. You were unable to fulfil your promises in Himachal, Karnataka, and Telangana," he said.

Shah said the Mahayuti alliance has promised that women will get Rs 2,100 per month under the Ladki Bahin Yojana. "Kashmir is an integral part of India and no power in the world can snatch it away from us," Shah said.

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News Network
November 26,2024

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The extremist Israeli finance minister has called for the occupation of the Gaza Strip and halving the population of the Palestinian territory that is reeling from almost 14 months of genocide.  

Bezalel Smotrich, who has a history of racist statements against Palestinians, made the controversial remarks during a conference of the Yesha Council settler group on Monday.

“We can occupy Gaza and thin the population by half within two years,” through encouraging the so-called “voluntary emigration," he said.

The racist minister also urged the Tel Aviv regime to use its favorable ties with the incoming administration of US President-elect Donald Trump to implement the plan.

“Occupying Gaza is not a dirty word,” he further claimed.

Once the success of the “voluntary emigration" is proven in the besieged Gaza Strip, it can be replicated in the occupied West Bank, he added.

Last month, Smotrich urged the full annexation of the West Bank and Gaza, asserting that Israel should unequivocally declare there would be no Palestinian state.

Israel launched its brutal Gaza onslaught on October 7, 2023, after the Palestinian Hamas resistance group carried out a historic operation against the usurping entity in retaliation for its intensified atrocities against the Palestinian people.

However, nearly 14 months into the offensive, the Tel Aviv regime has failed to achieve its declared objectives of finding captives held in Gaza and eliminating Hamas.

So far, the occupying regime has killed at least 44,235 Palestinians, mostly women and children, and injured 104,638 others, in Gaza. 

It has been committing the war crimes of starvation and of intentionally directing attacks against the civilian population in the besieged territory.

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News Network
November 26,2024

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Islamabad: Four paramilitary personnel and two policemen have been killed and over 100 security personnel injured as the protest by supporters of jailed former prime minister Imran Khan turned violent prompting the federal government to deploy the army in the national capital along with shoot at sight orders on Tuesday, state-run media said.

Pakistan deployed the army amid a tense stand-off with Khan's supporters from his Pakistan Tehreek-e-Insaf (PTI) pushing forward by removing hurdles on their way to Islamabad's D-Chowk venue as the government vowed to foil their attempt “even if a curfew needs to be imposed.”

Radio Pakistan said a vehicle rammed into Pakistan Rangers personnel killing four Rangers officials on the Srinagar Highway in Islamabad late on Monday night. Five other Rangers personnel and several police officials too sustained severe injuries.

About five kilometres from this spot, a bunch of miscreants, equipped with weapons and ammunition, pelted stones on the Rangers personnel and carried out indiscriminate firing on the security personnel at Chungi No 26 in Rawalpindi, Radio Pakistan said.

It also reported that two policemen were killed but didn't provide any details.

According to Punjab police, one policeman was killed at Hakla interchange on Islamabad outskirts during clashes with the PTI protestors on Monday but it also did not give details about the second policeman.

Separately, Interior Minister Mohsin Naqvi said, at a late night media interaction, that more than one hundred security personnel, mostly from police, were injured and added: “One senior police officer (SP) was critically injured – he suffered a severe head injury -- due to stone-pelting by protesters.”

Radio Pakistan further reported that the Pakistan Army was called in “to deal with the miscreants with an iron hand” and “clear orders have also been issued to shoot miscreants and troublemakers on sight.”

Strongly condemning the attack on Rangers and police personnel by protesters, Prime Minister Shehbaz Sharif, in a statement, directed to immediately identify those involved in the incident and ensure they are brought to justice.

“Attacks on police and Rangers, under the guise of a so-called peaceful protest, are condemnable,” he said, adding, the anarchist group seeks bloodshed and “Pakistan cannot afford any form of chaos or bloodshed. Bloodshed for nefarious political agenda is unacceptable and highly condemnable.”

He also instructed to provide the best possible medical facilities to those injured.

Interior Minister Naqvi said the government had offered an alternative venue to the protestors to stage their activity at Sangjani in the suburbs of the capital and apparently Khan has also agreed to it.

Despite permission given by Khan, “maybe there is a leadership above Imran Khan who has refused to accept this,” he claimed and confirmed that talks were going on with the PTI to resolve the issue and that the PTI leaders were allowed to meet Khan twice on Monday to get his input.

The government is waiting for a formal response to its offer of an alternative venue for protest and “we are now waiting for PTI’s response before taking further steps,” Naqvi added.

Naqvi also warned that “come what may, the PTI would not be allowed to stage a protest at D Chowk and even hinted of imposing a curfew if needed.”

Security sources also said that all necessary measures are being taken to counter terrorist activities by disruptive and extremist elements. “All the miscreants are also being identified to bring them to justice,” the sources added.

Meanwhile, the PTI accused the authorities of using violence in which several of its supporters have been injured. A PTI spokesman told BBC Urdu that at least two supporters have also been killed but it was not confirmed from other sources so far.

Khan, 72, the PTI founder, has been in jail since August 5, 2023, and had given the ‘final call’ for the protest to force the authorities to release all prisoners, including himself, and also restore the alleged stolen mandate or victory of his party in February 8 elections as well as rescind the last month's 26th constitutional amendment allowing the government more powers over judiciary.

Earlier on Sunday, led by Khyber-Pakhtunkhwa Chief Minister Ali Amin Gandapur and Khan's wife, Bushra Bibi, the PTI supporters began their journey from the militancy-hit province with a mission to make it to D-Chowk in the national capital but faced obstacles on the roads.

The D-Chowk, close to several important government buildings: the Presidency, the PM Office, the Parliament, and the Supreme Court, is a prime location in the national capital.

The authorities had blocked the highways by placing shipping containers but the protestors accompanied by lifting equipment and other heavy machines worked their way by removing hurdles, but the hurdles did skittle their speed and plans.

The convoy entered Islamabad from Sangjani toll plaza. The party also shared footage of the KP convoy in Islamabad’s limits.

The government already banned rallies by imposing Section 144, a colonial era law used to outlaw political activities, as a high level delegation from Belarus was visiting Pakistan.

At least one policeman was killed and dozen others injured in clashes on Monday as thousands of the PTI protestors entered the territorial jurisdiction of the national capital. In one of the clashes, a policeman was killed at the Hakla interchange on Islamabad outskirts.

Another constable of the Sargodha police was injured due to “firing by miscreants” and was being treated, local media said, adding, dozens of other policemen too were injured in the clashes, but exact details were not available.

As the convoy entered the capital territory in the evening, Bushra Bibi said in a video message: “My brothers, as long as Imran is not with us, we will not end this march.”

Meanwhile, as announced on Monday, all public and private educational institutions would remain closed in view of the law and order situation both at Islamabad and Rawalpindi on Tuesday.

Khan has been implicated in dozens of cases since his government was dismissed through a no-confidence motion in 2022. He has been in Adiala Jail at Rawalpindi since last year facing over 200 cases.

His party won the largest number of seats in the February general elections despite contesting as independents as the party was denied an election symbol.

The party founder has alleged that the ruling Pakistan Muslim League-Nawaz (PML-N) and its coalition partners, including the Pakistan Peoples Party (PPP), had “stolen the mandate” to grab power at the federal level.

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