Moneycontrol's Sakshi Batra talks to Deputy Editor-in-Chief Gaurav Chaudhary about Q3 GDP data released by the government.
On being asked about the spread of the coronavirus globally and its impact, he said there will certainly be some legacy issues in terms of business rethinking in the global supply chain.
There is a threat of ransomware in connected home
The Gross Domestic Product (GDP) growth was registered at 5.6 percent in the corresponding quarter of 2018-19, as per the data released by the National Statistical Office (NSO).
SBI deputy managing director P N Prasad said the bank is witnessing fresh enquiries on project finance in several sectors like road, city gas distribution and renewable energy.
An industry source said that as China was a global supplier of goods, huge export and import opportunities have emerged due to the outbreak of this deadly disease in China and other parts of the globe.
The National Statistical Office (NSO) has, however, upwardly revised GDP growth estimates for the first quarter of 2019-20 to 5.6 per cent (from 5 per cent), and for the second quarter to 5.1 per cent (from 4.5 per cent).
Foreign currency assets, a major component of the overall reserves, fell by $490 million to $441.458 billion in the reporting week, ending a multi-week surge.
As per the CGA data on monthly accounts, revenue receipts during April-January were at Rs 12.5 lakh crore or 67.6 percent of the RE for 2019-20. This compares with 68.3 percent of the RE in the previous fiscal.
GDP growth in the previous quarter has been revised to 5.1 percent from 4.5 percent.
During April-January, output rose 0.6% from the year-ago period, according to the data.
Extreme weathers will accompany these phenomena, with 100 km/hour wind speeds becoming the new normal during storms
The ministry’s directive could affect expenditure plans of laggard ministries, which have huge resource allocations
Earnings from long-term fixed deposits, bonds and G-Secs fell 50-80 bps over the past year and the retirement fund body may thus find it difficult to keep rates unchanged this fiscal
The last vice chairman of erstwhile avtar of NITI Aayog advised the government that it should not move towards protectionism by raising customs duty and other measures.
"There should be no sense of shame in wanting to be a retail employee. When I began my job at McDonald's, my job was jhaadu-pochha (cleaning) and my ambition, when I joined, was to stand at the cashier's position... a retail employee," she said during TRRAIN Retail Awards 2020, given to recognise exceptional customer service in the retail industry.
The number of work visas granted (Tier 2) touched an all-time high of 113,958 of which 57,199 were given to Indians.
APMC sources said that prices were on the lower side for the last two-three weeks. As many as 1,700 tractor-loads of onion arrived at the APMC on Thursday.
The bulk of the incremental demand will come from city gas distribution (CGD) operations being rolled out in 400 districts.
Aggarwal said the outbreak has the potential to cause considerable global economic and market dislocation, however, the economic impact of the disease will depend on its duration and severity.
The RBI also said the incremental loans to the factoring units of MSMEs discounted under the trade receivables discounting system (TReDs) are also eligible for CRR exemption.
Besides spending on building infrastructure, the government should focus on exploiting natural resources the country has and look at stake sale in most PSUs.
Gross domestic product data due to be released on Friday will cover up to the end of last year, before the epidemic in China had sparked fears of a pandemic.
Commerce Secretary Anup Wadhawan said that packaging material should be biodegradable, re-usable and recyclable.
The Indian economy seems to have been trapped in a downward spiral, as the GDP growth is set to slip to a decadal low of 5 percent in 2019-20.