Indian economy contracts by 6.6 per cent in 2020-21

News Network
January 31, 2022

New Delhi, Jan 31: Indian economy contracted by 6.6 per cent in 2020-21 as against the earlier estimate of 7.3 per cent decline, showing that the Covid-19 pandemic hit economy did not perform as badly as was initially worked out.

As per the provisional estimates released in May 2021, the GDP had contracted by 7.3 per cent during 2020-21 on account of the outbreak of Covid-19 and subsequent nationwide lockdown to contain the pandemic.

The National Statistical Office has also revised downward the real GDP growth number for 2019-20 to 3.7 per cent as against the earlier estimate of 4 per cent.

"Real GDP or GDP at constant (2011-12) prices for the years 2020-21 and 2019-20 stands at Rs 135.58 lakh crore and Rs 145.16 lakh crore, respectively, showing a contraction of 6.6 per cent during 2020-21 as compared to growth of 3.7 per cent during 2019-20," National Statistical Office said in the revised national account data released on Monday.

Under the first revision released in January 2021, real GDP or GDP at constant (2011-12) prices for the years 2019-20 was pegged at Rs 145.69 lakh crore, showing growth of 4 per cent during 2019-20.

"In terms of real GVA (gross value added), i.e., GVA at constant (2011-12) basic prices, there has been a contraction of 4.8 per cent in 2020-21, as against growth of 3.8 per cent in 2019-20," NSO stated.

During 2020-21, the growth rates of the primary sector (comprising agriculture, forestry, fishing and mining & quarrying), secondary sector (comprising manufacturing, electricity, gas, water supply & other utility services, and construction) and tertiary sector (services) have been estimated as 1.6 per cent, (-)2.8 per cent and (-) 7.8 per cent as against a growth of 1.9 per cent, (-) 6.8 per cent and (-) 8.4 per cent, respectively, in the previous year.

Nominal Net National Income (NNI) or NNI at current prices for the year 2020-21 stands at Rs 171.94 lakh crore as against Rs 177.17 lakh crore in 2019-20, showing a contraction of 2.9 per cent during 2020-21 as against growth of 6 per cent in the previous year, it stated.

Per Capita Income i.e. Per Capita Net National Income at current prices is estimated at Rs 1,32,115 and Rs 1,26,855 respectively for the years 2019-20 and 2020-21, it stated.

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News Network
November 11,2024

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The Manipur Kuki MLAs have released a statement calling out Solicitor General Tushar Mehta's 'lies' in the Supreme Court. In a joint statement, the MLAs, including those from the Bharatiya Janata Party, said they had not had any meeting with the Chief Minister since May 3, 2023, nor did they intend to meet him in the future as “he was the mastermind behind the violence”.

As per the MLAs, the SG lied about state CM N Biren Singh speaking to Kuki MLAs to control the situation there, in order to halt a Supreme Court probe into the leaked tapes which allege that Singh has been complicit in the violence that broke out between Kukis and Meitis there.

"We...clarify that we have never had any meeting with Chief Minister, Shri N. Biren Singh since May 3, 2023, nor have any intention to meet him in future as he is the mastermind behind the violence and ethnic cleansing of our people from the Imphal valley, which is continuing till today, the latest being the brutal killing and burning of Mrs Zosangkim Hmar on November 7, 2024," the letter read, while condemning the recent 'barbaric' killing of the woman there, and noting the SG's assertion is 'tantamount' to misleading the top court.

“We, the undersigned ten MLAs, have come to know that during the Supreme Court hearing held on November 8, 2024, the Solicitor General of India submitted that ‘CM is meeting all Kuki MLAs and trying to bring the situation down to get peace’. In this connection, we hereby categorically state that this submission is a blatant lie and tantamount to misleading the Hon’ble Supreme Court of India,” the statement said.

The Supreme Court, while hearing a petition by a Kuki organisation, asked that it submit audio tapes to substantiate its claim that the Chief Minister was instrumental in inciting and organising violence in the northeastern State.

Solicitor-General Tushar Mehta orally informed the court that the Chief Minister was meeting all the Kuki-Zo MLAs and that peace in the State had come at a huge cost.

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News Network
November 25,2024

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Bengaluru: Karnataka Chief Minister Siddaramaiah has instructed the Hindu Religious Endowment Department to submit a proposal for constructing a gold chariot for the presiding deity of the state, Chamundeshwari, official sources said on Monday.

The directive follows a request from Member of Legislative Council (MLC) Dinesh Gooligowda, who highlighted the historical and cultural significance of the Chamundeshwari Temple on Chamundi Hill in Mysuru, which dates back to the 12th century AD.

Gooligowda noted that the existing wooden chariot, donated by devotees from Coimbatore, Tamil Nadu, has deteriorated over time.

“Devotees have expressed their desire to organise a ‘rathotsava’ using a gold chariot for Goddess Chamundeshwari. This proposal has been under consideration for some time, with an estimated cost of Rs 100 crore,” the MLC said.

He emphasised that the government’s financial involvement would not be required, as devotees are willing to contribute towards making the chariot a reality.

Gooligowda proposed a deadline for the 2025 Dasara festival for the completion of the chariot, ensuring it is ready for the grand procession featuring the idol of Chamundeshwari.

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News Network
November 15,2024

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Iran’s Islamic Revolution Guards Corps (IRGC) has killed or captured 69 terrorists linked to the Israeli spy agency Mossad during a major counterterrorism drill in the country's southeast, its spokesman says.  

General Ahmad Shafaei, the spokesman for the “Martyrs of Security” drill, said Friday that a total of 23 terrorists have been killed and another 46 arrested in various clean-up operations ever since the IRGC Ground Force launched it in the Sistan and Baluchestan province on November 1.

Seven terrorists have also turned themselves in during the period.

“The undeniable fact about terrorists is that they rely on arrogant powers, particularly the intelligence service of the wicked and vicious Zionist regime," Shafaei said.

“Unfortunately, weapons and munitions at terrorists’ disposal are among the most sophisticated ones in the world. This accounts for their heavy dependence.” 

The official stated that several members of the disbanded terror teams were non-Iranian nationals, who had been hired by foreign intelligence agencies to carry out acts of sabotage and terror inside Iran.

In a most recent operation, six terrorists were arrested and four others were eliminated, three of whom were non-Iranians, he added. 

On October 26, ten members of Iran's law enforcement forces were killed in a terrorist attack in the Gohar Kuh district of Taftan in the Sistan and Baluchestan province.

The so-called Jaish al-Adl terrorist group claimed responsibility for the assault, which was one of the deadliest in the province in recent months.

The group has carried out numerous terrorist attacks in Iran, primarily in Sistan and Baluchestan.

Its tactics include the abduction of border guards as well as targeting civilians and police stations within the province to incite chaos and disorder.

In January, Iran launched a military operation during which the headquarters of the Pakistan-based terrorist group was targeted in missile strikes, destroying its infrastructure.

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