GDP shrinks by 7.3%; Q4 uptick moderates 202021 carnage
India’s Gross Domestic Product (GDP) contracted by
7.3% in 202021, as per provisional National Income estimates released by the National Statistical Office on
Monday, marginally better
than the 8% contraction in
the economy projected earlier. GDP growth in 2019-20,
prior to the COVID-19 pandemic, was 4%.
The Gross Value Added
(GVA) in the economy
shrank 6.2% in 2020-21, compared to a 4.1% rise in the
previous year. Only two sectors bucked the trend of negative GVA growth — agriculture, forestry and fishing,
which rose 3.6%, and electricity, gas, water supply and
other utility services (up
1.9%).
- The government on Monday claimed it will inoculate the “entire eligible population” by 2021 end, only to be barraged with questions from the Supreme Court about the efficacy of its policy, which allows the Centre to procure just 50% of the vaccines while leaving the States to buy their own. The court also challenged the differential vaccine pricing policy, saying “there needs to be one price for vaccines across the nation”.
- The Kerala Assembly on Monday unanimously passed a resolution demanding the recall of Lakshadweep Administrator Praful Khoda Patel and the withdrawal of the controversial orders issued by him .The House also expressed solidarity with the people of Lakshadweep who have been protesting against the decisions of Mr. Patel and seeking urgent steps to safeguard their culture and livelihood.
- Bollywood actor Juhi Chawla has moved the Delhi High Court seeking a scientific study on any adverse effects of radio frequency radiation emitted by cellular telecommunications using 5G technology on ‘health, life, organ or limb of adult or child, or to flora and fauna’ before its official rollout in the country
- The Delhi High Court on Monday said Twitter has to comply with the new Information Technology Rules for digital media if they have not been stayed by the court.
- China will for the first time allow couples to have a third child, the country’s government said on Monday, in a further relaxation of family planning rules five years after a “two child policy” largely failed to boost birth rates. The announcement followed a meeting of the 25 member Politburo, chaired by China’s President and Communist Party of China General Secretary Xi Jinping, “to hear reports on major policy measures to actively address the ageing of population during the 14th Five Year Plan period (2021 2025)”, State media said.
- India recorded a fiscal deficit of 9.2% of GDP in 2020 21, narrower than the revised estimate of 9.5%, as per data from the Controller General of Accounts (CGA) and official GDP figures released on Monday
- Sanjeet shocked Rio Olympics silver medallist Vassiliy
Levit to win the 91kg title in
the Asian boxing championships here on Monday.
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