Synopsis The broad consensus among economists is that India may clock a GDP growth rate of almost 7% this fiscal year and about 6.5% next year — an exception in a world facing slowdown and even recessionary risks. But it won’t be easy as India too will be buffeted by strong headwinds. Last month, the Reserve Bank of India (RBI) pegged the country’s Gross Domestic Product (GDP) growth for the quar ter ending September at 6.1-6.3%. “If this is realised, India is on course for a growth rate of about 7 per cent in 2022-23,” the central bank stated in its monthly bulletin. Earlier this week, the National Statistical Office (NSO) released the Q2 data. And the numbers were on expected lines. The GDP at constant (2011-12) prices for the quarter is estimated to be Rs 38.17 lakh crore — a growth of 6.3% over the same quarter last year. The Indian economy has certainly slowed when compared with the 13.5% growth of Q1, which was helped by a favourable base effect as growth had weakened … [Read more...] about India seems to be on course to a GDP growth of about 7% this fiscal year. But the journey won’t be easy
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Synopsis Had the world been more kind, one might have expected an 8.5% real growth. In a world that falls short of that ideal, 6.5% to 7% is not something to be scoffed at; it will change the face of development and prosperity. The Q2 real growth figure of 6.3% isn’t completely unexpected. As the effect of the low base wore off, growth was bound to slow. There are two questions that remain. What’s growth likely to be in 2022-23 and what’s the trajectory of growth from 2023-24? For both, I think, the range is between 6.5% and 7%, closer to the upper end of the band for the first question and closer to the lower end of the band for the second question. CEA has said he expects growth in 2022-23 to be between 6.8% and 7%, a reasonable guess, given the high growth in Q1. Recently, Morgan Stanley brought out a report (“Why This Is India’s Decade”), focusing on the slightly longer term and highlighting offshoring, digital differentiation and energy transition. There are different … [Read more...] about View: Why a middle-income status for India by 2047 is certain
Starting Thursday, the government has introduced paperless entry at select airports to make air travel hassle-free. Under this initiative, airports will use a facial recognition software called ‘DigiYatra’ for entry. This means, passengers won’t need to carry their ID card and boarding pass. In the first phase, the initiative will be launched at seven airports, starting with three — Delhi, Bengaluru, and Varanasi, followed by four airports namely Hyderabad, Kolkata, Pune, and Vijayawada by March 2023. Subsequently, the technology will be implemented across the country. Don't Miss | e-Rupee: Here’s a Quixplained on India’s first official digital currency The Delhi International Airport Ltd (DIAL), run by GMR, had in August announced the soft launch of the Centre’s DigiYatra initiative, rolling out the beta version of its app for Android platforms. The Delhi airport has the required infrastructure set up at the airport’s Terminal 3, and other airports are also … [Read more...] about DigiYatra: These airports in India now have facial recognition technology. How does it work?
Navy Chief Admiral R Hari Kumar Saturday said that the Indian Navy had assured the government it will become ‘Aatmanirbhar’ by 2047. “Recent global events such as Ukraine conflict demonstrated that we can’t remain dependent on others for our security requirements,” the Navy Chief explained. During an event in New Delhi held on the occasion of Navy Week, Admiral Hari Kumar said that the aim of the Navy is finding “Made-In-India security solutions” for the country. “The government has given us clear guidelines on Atmanirbhar Bharat. We have given assurances that the Indian Navy will become Aatmanirbhar by 2047,” the Navy Chief said. He called the recent commissioning of the indigenous aircraft carrier, INS Vikrant , a “landmark event for the Indian Navy” and “torch bearer of atmanirbharta”. “There are very few countries that have the capability to make an aircraft carrier and we now form one of the elite,” he said. “It inspires self-confidence among us and it’s a shining … [Read more...] about Navy will be Aatmanirbhar by 2047, aim is to find made-in-India solutions for security requirements: Navy Chief
Synopsis Munir made the remarks during his first-ever visit to troops in the frontline areas in Rakhchikri Sector of the Line of Control (LoC) on Saturday. Pakistan 's newly-appointed army chief General Asim Munir on Saturday said that if his country is attacked, the Pakistani armed forces will "not only defend every inch of our motherland, but to take the fight back to the enemy." Munir made the remarks during his first-ever visit to troops in the frontline areas in Rakhchikri Sector of the Line of Control (LoC) on Saturday. "We have noticed highly irresponsible statements from Indian leadership on Gilgit Baltistan and Jammu and Kashmir recently. Let me make it categorically clear, Pakistan's armed forces are ever ready, not only to defend every inch of our motherland, but to take the fight back to the enemy, if ever, war is imposed on us," he said. General Munir on November 24 replaced General Qamar Javed Bajwa, who retired after serving two consecutive … [Read more...] about Ready for war with India if attacked: Pakistan’s new army chief Asim Munir
Synopsis At the annual Footwear News Achievement Awards in New York City, the first Collection of the Year award was bagged by Dua Lipa. Dua Lipa received the first Collection of the Year award at the annual Footwear News Achievement Awards in New York City on November 30, raising her position as a global megastar. At the event known as the " Shoe Oscars ," the vocalist of "Cold Heart - PNAU Remix" was showered with heartfelt recognition. The audience watched as Dua Lipa took the stage with Billy Walsh , her "Puma x Dua Lipa Flutur Drop 2" collaborator. The two accepted the award together. Attendees were mesmerised by another fantastic moment at the FNAAs as Christian Louboutin won the Lifetime Achievement Award . What did attendees of the event have to say about the iconic shoemaker Christian Louboutin? Winners of Day 2 of the '2022 MAMA Awards'! Winners of Day 2 of the '2022 MAMA Awards'! … [Read more...] about Dua Lipa bags Collection of the Year award at annual Footwear News Achievement Awards