- Gross Domestic Product was 7.6 per cent in the second quarter of the last fiscal.
- The Indian economy grew at 7.3 per cent in the September quarter of current fiscal, up from 7.1 per cent in the previous three months, mainly on improved performance of manufacturing, services and trade sectors.
- Gross domestic product grew by 7.3% in the quarter ended September, a slight increase from the previous quarter and much stronger than China’s 6.7%.
- That means India is still the fastest growing major economy in the world.
- The boom could come to an abrupt halt, however, when data for the current October-December quarter is published early next year.
- That’s because a bombshell announcement on Nov. 8 scrapping the 500 and 1,000 rupee notes has drained billions of dollars worth of cash from the economy.
- According to the data released by the Central Statistics Office (CSO), the Gross Value Added (GVA), which is estimated at the basic price, showed a growth of 7.1 per cent in the second quarter of 2016-17, compared to 7.3 per in the year ago period.
- The GDP growth data is calculated under the new methodology at market price, while GVA is calculated primarily at factor cost. GDP is GVA plus taxes on products, minus subsidies on them.
- The sectors which registered growth of over 7 per cent in July-September quarter are public administration, defence and other services, financial, insurance, real estate and professional services, manufacturing and trade, hotels and transport and communication and services related to broadcasting.
- Growth in agriculture and mining and quarrying and construction is estimated to be 1.8 per cent and 1.5 per cent respectively. Forestry and fishing sector declined by 0.4 per cent.
- Analysts estimate growth over the next two quarters could drop by as much as 1% or more. Fitch Ratings this week cut its growth forecast for the current financial year to 6.9% from 7.4%.
- But if India succeeds in bringing more “black money” into the banking system, and getting a bump in tax revenues as a result, it could remain an attractive bet for foreign investors, particularly if it presses ahead with other reforms.
The Karnataka government is planning to introduce 100% reservation to Kannadigas in blue-collar jobs in private sector industries across the state. The state labour department has released the draft amendments to ...READ MORE
Through the Android app launched by the Ministry of Ayush, the Karnataka State Medicinal Plants Authority (KaMPA) can check whether spices like cinnamon have been obtained from trees growing in ...READ MORE
Reforming criminals Judgement was given in a majority judgment of the five-judge Constitution Bench led by Chief Justice of India H.L. Dattu observed in the Rajiv Gandhi killers’ remission case. They noted that ...READ MORE
Urban Slums The population living in urban slums in Karnataka has raised from 14.02 lakh (2001) to 32.91 lakh (2011) in a decade. This is a rise from 7.8 per cent of the total urban population ...READ MORE
Closed Circuit Television (CCTV) cameras and its peripherals are all set to become cheaper with the Commercial Taxes department slashing the rate of Value Added Tax (VAT) on the products from ...READ MORE
Karnataka state will get its first air ambulance facility in the New Year. The Chief Minister Siddaramaiah formally launched the air ambulances on 16th Dec, commercial operations will begin in January ...READ MORE
ANTI-COUNTERFEITING TRADE AGREEMENT Introduction The Anti-Counterfeiting Trade Agreement (ACTA), is a multinational treaty for the purpose of establishing international standards for intellectual property rights enforcement. The agreement aims to establish an international legal ...READ MORE
To monitor vehicular pollution, the Karnataka State Pollution Control Board (KSPCB) on 16th Nov launched 12 vehicles fitted with sophisticated emission monitoring equipment. KSPCB chairman Lakshman said the vehicles are fitted ...READ MORE
ವರದಿಯಲ್ಲಿ ಏನಿದೆ? ಪರಿಶಿಷ್ಟ ಜಾತಿಯಲ್ಲೂ ತೀರಾ ಹಿಂದುಳಿದ ಜಾತಿಗಳಿಗೆ ಮೀಸಲಾತಿ ಸೌಲಭ್ಯ ಸಿಗುತ್ತಿಲ್ಲ; ಕೆಲವೇ ಜಾತಿಗಳು ಮಾತ್ರ ಈ ಸೌಲಭ್ಯ ಪಡೆಯುತ್ತಿವೆ ಎಂಬ ದೂರು ಕೇಳಿ ಬಂದಿದ್ದರಿಂದ 2005ರ ಸೆಪ್ಟೆಂಬರ್ನಲ್ಲಿ ಸದಾಶಿವ ಆಯೋಗ ರಚಿಸಲಾಗಿತ್ತು. ಆಯೋಗವು 2012ರಲ್ಲಿ ಸರ್ಕಾರಕ್ಕೆ ವರದಿ ಸಲ್ಲಿಸಿತ್ತು. ಪರಿಶಿಷ್ಟ ಜಾತಿಯ ವರಿಗೆ ...READ MORE
Karnataka plans 100% quota for locals in private
e-Charak app – Forest dept gets set to
SC judgement : Remission of sentences
Karnataka-Urban Development-Urban Slums
Karnataka – Govt Slashes Tax On CCTV Cameras To
Karnataka: Air ambulance service to be operational in
S & T Related Intellectual Property Rights
Karnataka State Government Launches Mobile Units To Check
ಸದಾಶಿವ ಆಯೋಗ ವರದಿ
States get more time to spend funds under