, - *$ + '!,-.!(/ + %(.!(/ + / *!'2345 /232/34 ./%01( /%15 &,+ $( 10 1 01 )# 1 ) ) ) 1 8 098 2) 0!134 564 2 &!$% '+ !,+ % %*6$/ #7 8 /92$:;2<= 8*249 )* +," #$ %&'$( )" * ) estimated at 11.66 lakh crore with risks somewhat tilted to in the first quarter as against the downside,” RBI had said in +&#$ he faltering Indian econo- 11.21 lakh crore a year ago. the monetary policy statement. Tmy plunged to a seven- The decline in the growth The continuous fall in the year-low in terms of GDP was by and large anticipated GDP shows that the country growth rate which has come but few had expected such has still not recovered from the %,$& down to 5 per cent for the sharp collapse in the economy. disastrous fallout of the April-June quarter of 2019- Several foreign rating agencies demonetisation which sucked 20. The GDP figure was have already cut India’s growth out liquidity from the system * ) announced soon after Finance forecast and pegged it below 7 and slowed down consumption Minister Nirmala Sitharaman per cent for the ongoing fiscal. in various sectors. he agricultural growth has announced mega merger of China, which is in the The hasty implementation Tdropped to 2 per cent in public sector banks to arrest the midst of an intense trade war of the GST, which had to be tin- the first quarter of 2019-20, growth deceleration. with the US, has done far bet- kered with several times since down from 5.1 per cent dur- Both the announcement ter than India despite the its inception, is also seen as a ing the same period last fiscal, may have been prescheduled, adverse economic climate. major culprit for pulling down as per the data released by the but the fact remains that in the China’s economic growth was the GDP. Ministry of Statistics and know of the GDP calculations, 6.2 per cent in April-June quar- The falling economy has Programme Implementation. the Government has swung ter of 2019, which was the led to flight of foreign invest- Crops, including fruits into action and announced a weakest expansion in 27 years. ment from the country and and vegetables, account for series of measures to deal with It is obvious that the “dragon” weakening of Rupee. Post- about 53 per cent, the livestock the alarming decline in the " # $ " %& '! ( ' ( remains way ahead of India. Budget, the stock market has products 32 per cent, and economy. ) ) * $ " !+, The RBI had marginally seen major correction and the forestry and fisheries 15 per growth rate in agriculture sec- Sitharaman, who had last lowered the GDP growth pro- foreign institutional investors cent share of Gross Value tor has dropped to 2 per cent week announced tax sops and Bank; and Indian Bank will 0.6 per cent in the first quarter 0.4 per cent a year ago. jection for 2019-20 to 6.9 per continued to dump shares Added ( GVA includes taxes, in the first quarter due to slow- measures for sectors such as merge with Allahabad Bank. of this fiscal from 12.1 per cent “GDP at Constant (2011- cent from 7 per cent projected despite the Government but excludes subsidies) in agri- down in economy. “Extreme auto, announced merger of ten The GDP collapsed due to expansion a year ago. Similarly, 12) Prices in Q1 of 2019-20 is earlier in the June policy, and announcing a series of steps to culture, forestry, fishing sector. weather seems to have an banks into four new sets of a sharp fall in the manufactur- farm sector GVA growth estimated at 35.85 lakh crore, underlined the need for placate them. As per the latest kharif impact on farmer incomes banks — Punjab National ing sector and sluggish agri- remained subdued at 2 per cent as against 34.14 lakh crore in addressing growth concerns Beset with such grim sce- crops cultivation report, sow- and growth rate. Due to this, Bank, Oriental Bank of culture output, according to as compared to 5.1 per cent in Q1 of 2018-19, showing a by boosting aggregate demand. nario, the Government on ing of kharif crops is expect- consumption has been Commerce and United Bank of official data released on Friday. the corresponding period of the growth rate of 5 per cent,” the “Real GDP growth for Friday unveiled a mega plan to ed to be lowered by 17.67 per reduced. The slowdown in India will combine to form the The previous low was record- previous fiscal. National Statistical Office 2019-20 is revised downwards merge 10 public sector banks cent till date. Both Skymet and economy impacted the food- nation’s second-largest lender; ed at 4.9 per cent in April-June Construction sector GVA (NSO) said in a statement. from 7 per cent in the June pol- into four as part of plans to cre- CRISIL Research have pro- grain production in the cur- Canara Bank and Syndicate 2012-13. growth too slowed to 5.7 per Gross Fixed Capital icy to 6.9 per cent — in the ate fewer and stronger global- jected lower kharif yield due to rent crop year. This also means Bank will merge; Union Bank The gross value added cent from 9.6 per cent earlier. Formation (GFCF), which is a range of 5.8-6.6 per cent for sized lenders as it looks to flood and excessive rain. India is no longer the fastest of India will amalgamate with (GVA) growth in the manu- However, mining sector growth barometer of investment, at first half of 2019-20 and 7.3-7.5 boost economic growth from a According to officials of growing major economy in the Andhra Bank and Corporation facturing sector tumbled to climbed to 2.7 per cent from constant (2011-12) prices was per cent for the second half — five-year low. Agriculture Ministry, the world,” said officials. ! "Q R "! ! %& " ' “It has been a privilege to her. The SC said that the serve the country under Modi. / ) woman has told it she had left he Vigilance police on I am deeply grateful to him for Shahjahanpur with her three TFriday caught Malkangiri this opportunity and the com- entral Board of Direct college mates in order to pro- Commercial Tax and Goods plete confidence he has placed CTaxes (CBDT) Member tect herself. and Services Tax (CT and in me. Akhilesh Ranjan, who was The apex court said that GST) Assistant Commissioner “It is now time for me to overlooked for the post of the the woman has told them that Ajay Kumar Mallick red-hand- ( move on, even as I remain Board’s chairman, has written she would not go back to UP ed for demanding and accept- devoted to public causes and to the Government seeking until she meets and talks to her ing an illegal gratification of ) national interests. I thank all voluntary retirement from ser- / ) parents. 10,000. colleagues, within and outside vice, sources said on Friday. The SC said that it would 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 ) years ago. However, Modi Misra may be considered for “family and personal BJP leader Swami ! after meeting and talking to her requested Misra to continue for ance remains extremely valu- the posts of Governor or Lt reasons.” Chinmayanand and was found parents she will take decision He was caught taking the two weeks, praised him for his able,” Modi wrote on Twitter. Governor. There are also talks They, however, added that staying with her friends in tices R Banumathi and AS on her future course of action. bribe in his office chamber outstanding service, and said After serving the PMO about him joining politics. the IRS officer “would have Rajasathan, did not want to go Bopanna said in an open court The Bench directed that a from complainant Manoj Misra taught him a lot when he “assiduously and diligently” Former Cabinet Secretary continued” in the service had to her home State Uttar hearing. Delhi Police team should be Kumar Debanath, Bholanath was new to New Delhi in 2014. for over five years and making PK Sinha has been appointed he been elevated to the post of Pradesh. The Bench said the woman sent to Shahjahanpur at the ear- Bastralaya Proprietor in order The PM wished Misra for an indelible contribution to as Officer on Special Duty in CBDT chairman. The judges had an in-cam- will be in the national capital liest to safely bring the woman’s to reactivate his Registration the “new phase” of his life. India’s growth trajectory, Misra the Prime Minister’s Office. It The Government on era interaction with the woman for four days and the apex court parents here. Certificate. “Nripendra Misra is among the will be embarking on a new is widely believed that Thursday gave a one-year who was brought to the apex registry will ensure her safe The top court concluded Mallick residential house most outstanding officers, who phase of his life, said Modi.