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) * ;2. $ ) % < ' % < ' < VRGR '%&((!1#VCEB R BP A"'!#$#1!$"#0$"T utqBVQWBuxy( , .),'/ #3"4 ,%/0/,01 +,"-.' &%,".2 $) / 4>8.&4 0=2>626482+: &&45//2&/8 .8:0:5=7&9 +0&$:+05+7869, +.7"8 $,&2862",0+778. ,70,$5, 07.4,0 &6=756&$87 .80,.57 [email protected],+.>-@9. ?: 1 ,,2' ? 68 '' ) & 0 + 5# 6%#78 + #" 5 (% 34 5) %#" " 789.8:0 barometer of investment, at per cent for the second half — constant (2011-12) prices was with risks somewhat tilted to he faltering Indian econo- estimated at 11.66 lakh crore the downside,” RBI had said in & Tmy plunged to a seven- in the first quarter as against the monetary policy statement. year-low in terms of GDP 11.21 lakh crore a year ago. The continuous fall in the growth rate which has come The decline in the growth GDP shows that the country down to 5 per cent for the was by and large anticipated has still not recovered from the ' # April-June quarter of 2019- but few had expected such disastrous fallout of the demon- 20. The GDP figure was sharp collapse in the economy. etisation which sucked out liq- * 789.8:0 announced soon after Finance Several foreign rating agencies uidity from the system and Minister Nirmala Sitharaman have already cut India’s growth slowed down consumption in he agricultural growth has announced mega merger of forecast and pegged it below 7 various sectors. The hasty Tdropped to 2 per cent in public sector banks to arrest the per cent for the ongoing fiscal. implementation of the GST, the first quarter of 2019-20, growth deceleration. China, which is in the which had to be tinkered with down from 5.1 per cent dur- Both the announcement midst of an intense trade war several times since its incep- ing the same period last fiscal, may have been prescheduled, with the US, has done far bet- tion, is also seen as a major cul- as per the data released by the but the fact remains that in the ter than India despite the prit for pulling down the GDP. Ministry of Statistics and know of the GDP calculations, adverse economic climate. The falling economy has Programme Implementation. the Government has swung China’s economic growth was led to flight of foreign invest- Crops, including fruits into action and announced a 6.2 per cent in April-June quar- ment from the country and and vegetables, account for series of measures to deal with ter of 2019, which was the weakening of Rupee. Post- about 53 per cent, the livestock the alarming decline in the weakest expansion in 27 years. Budget, the stock market has products 32 per cent, and economy. It is obvious that the “dragon” seen major correction and the forestry and fisheries 15 per Sitharaman, who had last ! "# $ % % remains way ahead of India. foreign institutional investors cent share of Gross Value tor has dropped to 2 per cent week announced tax sops and & &' ! ( The RBI had marginally continued to dump shares Added ( GVA includes taxes, in the first quarter due to slow- measures for sectors such as lowered the GDP growth pro- despite the Government but excludes subsidies) in agri- down in economy. “Extreme auto, announced merger of ten merge with Allahabad Bank. 0.6 per cent in the first quarter climbed to 2.7 per cent from jection for 2019-20 to 6.9 per announcing a series of steps to culture, forestry, fishing sector. weather seems to have an banks into four new sets of The GDP collapsed due to of this fiscal from 12.1 per cent 0.4 per cent a year ago. cent from 7 per cent projected placate them. As per the latest kharif impact on farmer incomes banks — Punjab National a sharp fall in the manufactur- expansion a year ago. Similarly, “GDP at Constant (2011- earlier in the June policy, and Beset with such grim sce- crops cultivation report, sow- and growth rate. Due to this, Bank, Oriental Bank of ing sector and sluggish agri- farm sector GVA growth 12) Prices in Q1 of 2019-20 is underlined the need for nario, the Government on ing of kharif crops is expect- consumption has been Commerce and United Bank of culture output, according to remained subdued at 2 per cent estimated at 35.85 lakh crore, addressing growth concerns Friday unveiled a mega plan to ed to be lowered by 17.67 per reduced. The slowdown in India will combine to form the official data released on Friday. as compared to 5.1 per cent in as against 34.14 lakh crore in by boosting aggregate demand. merge 10 public sector banks cent till date. Both Skymet and economy impacted the food- nation’s second-largest lender; The previous low was record- the corresponding period of the Q1 of 2018-19, showing a “Real GDP growth for into four as part of plans to cre- CRISIL Research have pro- grain production in the cur- Canara Bank and Syndicate ed at 4.9 per cent in April-June previous fiscal. growth rate of 5 per cent,” the 2019-20 is revised downwards ate fewer and stronger global- jected lower kharif yield due to rent crop year. This also means Bank will merge; Union Bank 2012-13. Construction sector GVA National Statistical Office from 7 per cent in the June pol- sized lenders as it looks to boost flood and excessive rain. India is no longer the fastest of India will amalgamate with The gross value added growth too slowed to 5.7 per (NSO) said in a statement. icy to 6.9 per cent — in the economic growth from a five- According to officials of growing major economy in the Andhra Bank and Corporation (GVA) growth in the manu- cent from 9.6 per cent earlier. Gross Fixed Capital range of 5.8-6.6 per cent for year low. Agriculture Ministry, the world,” said officials. Bank; and Indian Bank will facturing sector tumbled to However, mining sector growth Formation (GFCF), which is a first half of 2019-20 and 7.3-7.5 Continued on Page 4 growth rate in agriculture sec- Continued on Page 4 Q R ! " #$ "# $ “It has been a privilege to her. The SC said that the "$ % serve the country under Modi. 789.8:0 woman has told it she had left I am deeply grateful to him for Shahjahanpur with her three % & this opportunity and the com- entral Board of Direct college mates in order to pro- P plete confidence he has placed CTaxes (CBDT) Member tect herself. ! in me. Akhilesh Ranjan, who was The apex court said that “It is now time for me to overlooked for the post of the the woman has told them that &'' L") M ' move on, even as I remain Board’s chairman, has written she would not go back to UP + ,-. / devoted to public causes and to the Government seeking until she meets and talks to her 789.8:0 national interests. I thank all voluntary retirement from ser- 789.8:0 parents. 0" ' - colleagues, within and outside vice, sources said on Friday. The SC said that it would ," 1 rime Minister’s Principal the Government, friends and They said Ranjan, who he Supreme Court said on hear the matter again on "' PSecretary Nripendra Misra my family for this support. I recently submitted a report on TFriday evening that the September 2 and till then the ' % " on Friday stepped down from wish Modi, the PM, success as the new direct tax code to woman law student, who had woman will not talk or meet his post after serving Prime he leads our country into a Finance Minister Nirmala gone missing after levelling anyone except her parents. #$% & Minister Narendra Modi since bright future.” Sitharaman, has sought retire- harassment allegations against The Bench said that the the latter took office over five Speculation is rife that ment from service owing to former Union Minister and woman has told them that ' ') 2+ / years ago. However, Modi Misra may be considered for “family and personal reasons.” BJP leader Swami ) after meeting and talking to her 1 ' requested Misra to continue for ance remains extremely valu- the posts of Governor or Lt They, however, added that Chinmayanand and was found parents she will take decision 3' two weeks, praised him for his able,” Modi wrote on Twitter. Governor. There are also talks the IRS officer “would have staying with her friends in tices R Banumathi and AS on her future course of action. outstanding service, and said After serving the PMO about him joining politics. continued” in the service had Rajasathan, did not want to go Bopanna said in an open court The Bench directed that a 4 ' 5 Misra taught him a lot when he “assiduously and diligently” Former Cabinet Secretary he been elevated to the post of to her home State Uttar hearing. Delhi Police team should be 2 % $ was new to New Delhi in 2014. for over five years and making PK Sinha has been appointed CBDT chairman. Pradesh. The Bench said the woman sent to Shahjahanpur at the ear- The PM wished Misra for an indelible contribution to as Officer on Special Duty in The Government on The judges had an in-cam- will be in the national capital liest to safely bring the woman’s * * the “new phase” of his life. India’s growth trajectory, Misra the Prime Minister’s Office. It Thursday gave a one-year era interaction with the woman for four days and the apex court parents here.

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