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GDP growth in 2019-20 slows to 11-year low of 4.2%, Jan-Mar growth dips to 3.1%
Posted on 30th May 2020
India's economic growth slipped to 3.1% in the January-March quarter while the GDP growth for 2019-20 slowed to an 11-year low of 4.2%, government data showed on Friday.

According to data released by the National Statistical Office (NSO), the gross domestic product (GDP) had expanded by 5.7% in the corresponding quarter of 2018-19.

In 2019-20, the Indian economy grew by 4.2% against 6.1% growth rate in 2018-19.

The impact of COVID-19 pandemic which closed almost all non-essential businesses for nearly two months clearly visible on the GDP data.

As coronavirus cases started to rise in India, the government imposed a nationwide lockdown on March 25. However, the Indian economy had been seeing a downward trend even before the pandemic arrived on its shore.

India registered a GDP growth of 4.7% in Q3 (October-December) of 2019-20 which was 5.6% a year ago. Releasing the data in February, the NSO in its advance estimates said the GDP growth during 2019-20 would be 5.0% as compared to 6.1% in 2018-19.

Later, the Reserve Bank also pegged the GDP growth for 2019-20 at 5%.

Other Latest News
Gold prices slump to Rs 48,900 per 10 gm, Silver rallying at Rs 51,950 a kg
Posted on 11th July 2020
Gold prices on Saturday fell to Rs 48,900 from Rs 49,100 per 10 gram, while silver climbed to Rs 51,950 from Rs 51,900 per kilogram, according to Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

Facebook plans to ban political ads before US Presidential election: Report
Posted on 11th July 2020
Facing intense criticism from all quarters, Facebook is planning to ban political ads on its platform like Twitter does as the US inches closer towards the presidential election in November, the media reported on Saturday.

According to a report in CNN Business citing sources, the potential ban on political ads to reduce the spread of disinformation has been under consideration since last fall.

RIL closes four Jio stake sale deals, receives Rs 30,062 cr from investors
Posted on 11th July 2020
After Facebook Inc, Reliance Industries has closed deals to sell a minority stake in its digital arm to four other investors, receiving a total of over Rs 30,062 crore.

In a regulatory filing, Reliance said it has closed the sale of 6.13 per cent stake in Jio Platforms with L Catterton, The Public Investment Fund, Silver Lake and General Atlantic.

Kolkata: Eden Gardens to be used as COVID-19 quarantine facility for police personnel
Posted on 11th July 2020
Kolkata Police can now use the galleries of Eden Gardens stadium as a makeshift quarantine facility, the Cricket Association of Bengal (CAB) on Friday said.

A meeting at Kolkata Police Headquarter, Lal Bazaar, took place at the Chamber of Special Commissioner Jawed Shamim. It was attended by CAB president Avishek Dalmiya.

India sees 27,114 new coronavirus cases, tally crosses 8 lakh-mark
Posted on 11th July 2020
In another highest single-day spike of coronavirus cases, India on Saturday reported 27,114 new cases in the last 24 hours. As many as 519 deaths were reported during this period.

With this, the country's total count has crossed the eight lakh-mark.

The total number of positive cases in the country stands at 8,20,916, including 2,83,407 active cases, 5,15,386 cured/discharged/migrated and 22,123 deaths, according to the Ministry of Health and Family Welfare.

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