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New Delhi [India], March 12 (ANI): The latest data released by the <keyword id="20070866" type="General" weightage="20" keywordseo="national-statistical-office" source="keywords">National Statistical Office</keyword> (<keyword id="20067517" type="General" weightage="20" keywordseo="nso" source="keywords">NSO</keyword>), under the Ministry of Statistics and Programme Implementation (MoSPI), indicates a slight easing in retail inflation for the month of February 2024. According to the provisional figures provided by the NSO, the retail inflation, based on the Consumer Price Index (General), stood at 5.09 per cent in February 2024. This marks a marginal decrease from 5.10 per cent recorded in January 2024. The combined inflation rate for rural and urban areas came down to 5.09 per cent from the previous month's 5.10 per cent. The data further reveals that the <keyword id="20931744" type="General" weightage="20" keywordseo="consumer-food-price" source="keywords">Consumer Food Price</keyword> Index (<keyword id="20931745" type="General" weightage="20" keywordseo="cfpi" source="keywords">CFPI</keyword>) witnessed a similar trend, with a slight decrease from 8.30 per cent in January 2024 to 8.21 per cent in February 2024. Both rural and urban areas experienced a dip in food inflation, indicating a marginal relief for consumers across the board. The monthly changes in the General Indices and CFPIs show a negligible increase of 0.16 per cent in the combined CPI (General) and 0.11 per cent in the CFPI from January 2024 to February 2024. This indicates a relatively stable price movement in essential goods and services during the said period. The NSO collects price data from a vast sample size, covering both rural and urban markets across all states and union territories. During February 2024, data was collected from 100 per cent of villages and 98.5 per cent of urban markets. The comprehensive coverage ensures that the inflation figures are representative of the diverse consumption patterns across the country. In terms of the subgroup analysis, notable trends were observed in various categories. Cereals and products, meat and fish, and egg prices showed moderate increases, contributing to the overall inflation rate. On the other hand, certain items like oils and fats experienced a decline in prices, exerting downward pressure on inflation. The NSO has also provided state-wise inflation data, highlighting the varying price dynamics across different regions. States like <keyword id="19896313" type="General" weightage="20" keywordseo="andhra-pradesh" source="keywords">Andhra Pradesh</keyword>, Telangana, and <keyword id="19896558" type="General" weightage="20" keywordseo="tamil-nadu" source="keywords">Tamil Nadu</keyword> recorded relatively higher inflation rates, while states like Delhi and Maharashtra witnessed a more subdued inflationary environment. Looking ahead, the NSO has announced that the next release of CPI data for March 2024 is scheduled for April 12, 2024. This continued transparency in reporting inflation figures enables policymakers and stakeholders to make informed decisions regarding monetary and fiscal policies. (ANI)

Retail inflation eases to 5.09% in February 2024

<ul><li>Food basket inflation was at 9.53% in December 2023, up from 8.7% in November.</li><li>The core inflation stood at 3.8%, moderating from 4.% in November.</li><li>India's industrial growth rate slumped to an 8-month low of 2.4% in November. </li></ul>Retail inflation inched up marginally to a four-month high of 5.69% in December 2023, mainly on account of higher food prices, according to official data released on Friday. The inflation based on Consumer Price Index (CPI) was at 5.55% in November 2023 and 5.72% in December 2022. In August 2023, inflation touched a high of 6.83%. As per the data released by the <keyword id="20070866" type="General" weightage="20" keywordseo="national-statistical-office" source="keywords">National Statistical Office</keyword> (NSO), retail inflation in the food basket was at 9.53% in December 2023, up from 8.7% in the preceding month and 4.9% in the year-ago month. “While persistent rise in the food prices contributed to an uptick in inflation in December 2023, the core inflation has continued to moderate indicating signs of easing price pressure for the households. A continual moderation in inflation is supportive of growth in the consumption driven sectors, said <keyword id="20169700" type="General" weightage="20" keywordseo="vivek-rathi" source="keywords">Vivek Rathi</keyword>, national director of research at Knight Frank India. The core inflation stood at 3.8%, moderating from 4.% in November. As per RBI’s forecast, FY24 inflation would be at 5.4%. The softer numbers that came in December could undershoot the numbers marginally,” said <keyword id="20169699" type="General" weightage="20" keywordseo="upasna-bhardwaj" source="keywords">Upasna Bhardwaj</keyword>, chief economist at Kotak Mahindra Bank. Experts expect RBI to keep its keep repo rate and policy stance unchanged in the February policy. The <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) has been focussed on bringing retail inflation under 4% which is its target. “We expect the RBI to allow liquidity conditions to ease in the coming months to let the operating target rate soften towards the repo rate before shifting stance— a move which is likely in 1QFY25,” said Bharadwaj. Manufacturing drags November industrial growth to 2.4% India's industrial growth rate slumped to an 8-month low of 2.4% in November from a 16-month high of 11.6% in October, data released by the Ministry of Statistics and Programme Implementation on Friday showed. In November 2022, the country’s industrial production had grown by 7.6%. The growth rate for November was dragged down by the manufacturing sector, which slowed to a crawl of 1.2 per cent on a year-on-year basis after having posted an increase of 10.2 per cent in October. The sharp slowdown in manufacturing output growth, which accounts for more than three-fourths of the index of industrial production (IIP), was partly attributed to the large number of holidays in November on account of festivals due to which the working declined. The IIP figure has been pulled down by the manufacturing sector which posted the lowest annualised growth of 1.2% in 13 months after a solid momentum in the early part of the fiscal. While moderation in industrial activity is typically seen in the post-festive season, this may also be an indication of an expectation of demand slowdown in the last quarter of the fiscal, he added. The electricity generation also grew at a slower pace of 5.8% as compared to a high double digit growth of 20.4% in October. Similarly, the mining output growth declined to 6.8% from 13.1% in October. “Industrial output for Nov-23 has disappointed even factoring in the impact of the festival holidays during the month and the adverse base factor. IIP has recorded a modest growth of 2.4% YoY, the lowest print in eight months since March 2023," said Suman Chowdhury, chief economist &amp; head of research of Acuite Ratings &amp; Research. There has also been a contraction in both consumer durables and non-durables output in Nov-23, leading to an overall contraction of 4.2 per cent YoY in the consumer goods sector. “The growth indicators from the industrial production print however seem to be uneven. Output from most of the key industries have witnessed moderate growth, however, due to a high statistical base. However, the consumer durable output, which is consumption reflection, contracted by 5.4%. This can be concerning as sustained consumption growth is the key to keep the economic growth momentum continuing,” said Rathi. (With inputs from PTI &amp; IANS)

Retail inflation inches to 4-month high in Dec; IIP growth slips to 8-month low in Nov

New Delhi, <keyword id="513422" type="PERSON" weightage="20" keywordseo="Retail-inflation">Retail inflation</keyword> declined to 4.5% in December 2020 compared with 6.93% in November last, government data showed on Tuesday. The data released by the <keyword id="188322" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Statistics">Ministry of Statistics</keyword> and Programme Implementation showed that the easing of the Consumer Price Index (<keyword id="6355865" type="UNKNOWN" weightage="20" keywordseo="CPI">CPI</keyword>) came on the back of a decline in food prices. The Consumer Food Price Index (CFPI) for last month came in at 3.41%, down from 9.50% in November 2020. The provisional rural CPI in December 2020 was recorded at 4.07%, down from 7.20% in the previous month. The urban CPI was 5.19% last month, compared with 5.19% in November 2020. The ease in retail inflation for the second consecutive month is a major development as it may give an impetus for a rate cut in the next meeting of the Reserve <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword>'s Monetary Policy Committee. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/how-to/how-to-backup-and-restore-messages-in-signal-app/articleshow/80226649.cms">How to backup and restore messages in Signal app</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-says-your-privacy-wont-be-affected-if-you-dont-use-these-features/articleshow/80225748.cms">WhatsApp says your privacy won't be affected if you don't use these two optional features</a> <a href="https://www.businessinsider.in/india/news/supreme-court-puts-indias-three-farm-laws-on-hold-forms-a-five-member-panel-to-resolve-the-deadlock/articleshow/80229881.cms">India's top court puts three new farm laws on hold — forms a five-member panel to resolve the deadlock</a>

Retail inflation eases to 4.59% in December, back within RBI's target range

New Delhi, As many as 442 <keyword id="6362477" type="UNKNOWN" weightage="20" keywordseo="infrastructure-projects">infrastructure projects</keyword> have reported a <keyword id="2334038" type="PERSON" weightage="20" keywordseo="Cost-overrun">cost overrun</keyword> of more than Rs 4.34 lakh crore as of December 1, according to the data from <keyword id="9345885" type="COMPANY" weightage="20" keywordseo="the-ministry-of-statistics">the Ministry of Statistics</keyword> and <keyword id="922118" type="COMPANY" weightage="20" keywordseo="programme-implementation">Programme Implementation</keyword>. A report by the Ministry showed that 536 Central sector projects are delayed from their <keyword id="10049885" type="UNKNOWN" weightage="20" keywordseo="original-schedules">original schedules</keyword>. "Total original cost of implementation of the 1,671 projects was 21,21,383.82 crore and their anticipated completion cost is likely to be 25,55,957.52 crore, which reflects overall cost overruns of 4,34,573.70 crore (20.49% of original cost)," said the report. The expenditure incurred on these projects till November 2020 is nearly ₹11.94 lakh crore, which is 46.71% of the anticipated cost of the projects. It said that of the overall 1,671 Central sector infrastructure projects costing ₹150 crore and above, nine projects are ahead of the schedule, 184 are on schedule, 536 are delayed, 442 projects reported cost overrun and 212 projects reported both time and cost overrun with respect to their original project implementation schedules. However, it said the number of delayed projects decreases to 412 if delay is calculated on the basis of latest schedule of completion. Further, for 942 projects neither the year of commissioning nor the tentative gestation period has been reported. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a> <a href="https://www.businessinsider.in/thelife/personalities/news/from-taking-on-yahoo-to-being-tamed-by-chinas-communist-party-its-been-a-roller-coaster-decade-for-jack-ma/slidelist/79935613.cms">From taking on Yahoo to being tamed by China’s Communist Party— it’s been a roller coaster decade for Jack Ma</a> <a href="https://www.businessinsider.in/careers/news/ey-is-looking-to-hire-9000-techies-in-2021-to-boost-its-digital-services/articleshow/79936576.cms">EY is looking to hire 9,000 techies in 2021 to boost its digital services</a>

442 infrastructure projects report cost overrun of ₹4.34 lakh crore

As many as 360 infrastructure projects, each worth Rs 150 crore or more, have shown cost overruns to the tune of over Rs 3.88 lakh crore owing to delays and other reasons, a report said. The <keyword id="188322" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Statistics">Ministry of Statistics</keyword> and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. Of these 1,608 projects, 360 reported cost overruns and 550 time escalation. "Total original cost of implementation of the 1608 projects was Rs 19,17,796.07 crore and their anticipated completion cost is likely to be Rs 23,05,860.33 crore, which reflects overall cost overruns of Rs 3,88,064.26 crore (20.23% of original cost)," the ministry's latest report for June 2019 said. According to the report, expenditure incurred on these projects till June 2019 stood at Rs 9,35,021.39 crore, which is 40.55 per cent of the anticipated cost of the projects. However, it said the number of delayed projects decreases to 474 if delay is calculated on the basis of latest schedule of completion. Further, it said that for 644 projects neither the year of commissioning nor the tentative gestation period has been reported. Out of 550 delayed projects, 182 projects have overall delay in the range of 1 to 12 months, 119 projects 13 to 24 months, 133 projects reflect delay in the range of 25 to 60 months and 116 projects show delay of 61 months and above. The average time overrun in these 550 delayed projects is 39.24 months. The brief reasons for time overruns, as reported by various project implementing agencies, are delays in land acquisition, forest clearance and supply of equipment. Besides, there are other reasons like fund constraints, geological surprises, geo-mining conditions, slow progress in civil works, shortage of labour, inadequate mobilisation by the contractor, Maoist problems, court cases, contractual issues, ROU/ROW (right of use/right of way) problems, law and order situation, among others, the report said. It also observed that project agencies are not reporting revised cost estimates and commissioning schedules for many projects, which suggests that time/cost overrun figures are under-reported.

360 infra projects in India show cost overruns of ₹3.88 trillion

The <keyword id="273072" type="General" weightage="50" keywordseo="ministry-of-coal" source="Orion">Ministry of Coal</keyword> on Wednesday said that the <keyword id="6383145" type="General" weightage="20" keywordseo="Coal-production" source="Orion">coal production</keyword> has gone up by 32.5 per cent approx in June this year and the <keyword id="6356966" type="General" weightage="100" keywordseo="coal" source="Orion">coal</keyword> based power generation too has increased in the same period registering growth of approximately 26 per cent. The Ministry said that India's coal production increased by 32.57 per cent to 67.59 Million Tonne (MT) from 50.98 MT during June 2021. According to the provisional statistics of the Ministry of Coal, during June this year, <keyword id="59700" type="General" weightage="50" keywordseo="coal-india-ltd" source="Orion">Coal India Ltd</keyword> (CIL), <keyword id="778964" type="General" weightage="50" keywordseo="singareni-collieries-company-ltd" source="Orion">Singareni Collieries Company Ltd</keyword> (SCCL) and captive mines / others registered a growth of 28.87 per cent, 5.50 per cent and 83.53 per cent by producing 51.56 MT, 5.56 MT and 10.47 MT respectively. Of the top 37 coal mines, as many as 22 mines produced more than 100 per cent and production at another nine mines stood between 80 and 100 per cent. At the same time, coal despatch increased by 20.69 per cent to 75.46 MT from 62.53 MT during June 2022 as compared to June 2021. During June 22, CIL and Captives/Others registered a growth of 15.20 per cent and 88.23 per cent by dispatching 58.98 and 11.05 MT respectively. SCCL registered a negative growth of 0.46 per cent during the month. The power utilities dispatch has grown by 30.77 per cent to 64.89 MT during June this year as compared to 49.62 MT in June 21 due to increase in power demand. Coal based power generation has registered a growth of 26.58 per cent in June 2022 as compared to June 2021. The overall power generation in June 2022 has been 17.73 per cent higher than in June 2021. However, Coal based power generation in the month of June 2022 has been 95,880 MU in comparison to 98,609 MU in May 2022 and registered a negative growth of 2.77 per cent. Total power generation has also decreased in June 2022 to 1,38,995 MU from 1,40,059 MU in May 2022 and registered a negative growth of 0.76 per cent. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/oats-and-honey-are-some-of-the-health-foods-that-indians-are-buying-less-of/articleshow/92697833.cms">Oats and honey are some of the health foods that Indians are buying less of</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/flexibility-is-passe-companies-are-ready-to-re-design-jobs-to-retain-talent/articleshow/92696760.cms">Flexibility is passe, companies are ready to re-design jobs to retain talent</a>

Coal production rose by 32% and coal-fired power generation increased too, says ministry

<ul><li>The <keyword id="6358021" type="General" weightage="100" keywordseo="budget" source="Orion">Budget</keyword> Estimates for 2023-24, will be provisionally finalised after completion of pre-Budget meetings.</li><li>It will be the fifth Budget of the Narendra Modi 2.0 government and Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword>.</li><li>The Budget 2023-24 is likely to be presented on February 1, during the first half of Parliament's Budget session. </li></ul> The government on <keyword id="21684" type="General" weightage="20" keywordseo="monday" source="Orion">Monday</keyword> will kick off its annual Budget making exercise for financial year 2023-24, that is expected to look at measures to revive growth amid a gloomy <keyword id="23764" type="General" weightage="20" keywordseo="global" source="Orion">global</keyword> outlook. The meeting would start with consultations with various ministries and departments on the revised estimates (RE) of expenditure for ongoing financial year and the fund requirement for 2023-24. On the first day on Monday, RE meetings with <keyword id="48413" type="General" weightage="20" keywordseo="Ministry" source="Orion">Ministry</keyword> of Environment, Forest and Climate Change, Ministry of Labour And Employment, Ministry of Information and Broadcasting, Ministry of Statistics and Programme Implementation and Ministry of Youth Affairs and Sports would take place. Most of these discussions to finalise RE for ongoing financial year (2022-23) and Budget Estimate for 2023-24 would be chaired by the <keyword id="46929" type="General" weightage="20" keywordseo="Finance-Secretary" source="Orion">Finance Secretary</keyword> and Expenditure Secretary. The month-long deliberations would end on November 10, with consultations with Ministry of Cooperation, Department of Agriculture and Farmers Welfare, Department of Agricultural Research and Education, Ministry of Road Transport and Highways, Ministry of Railways and Ministry of Petroleum and Natural Gas, as per a notification of Budget Division of the finance ministry. The Budget Estimates for 2023-24, will be provisionally finalised after completion of pre-Budget meetings. These meetings would take place against the backdrop of many institutions, including the <keyword id="50847" type="General" weightage="20" keywordseo="Reserve-Bank" source="Orion">Reserve Bank</keyword> and the World Bank slashing India's growth forecast to 7 per cent and 6.5 per cent, respectively. It will be the fifth Budget of the Narendra Modi 2.0 government and Finance Minister Nirmala Sitharaman and the last full Budget before the general elections due in April-May 2024. During the <keyword id="6359191" type="General" weightage="20" keywordseo="election" source="Orion">election</keyword> year, the government presents Vote on Account for the limited period. Usually, the Budget is cleared till July. The Budget 2023-24 is likely to be presented on February 1, during the first half of Parliament's Budget session which usually begins in the last week of January every year. The Budget 2022-23 had projected a growth rate of 7-7.5 per cent in real terms while fiscal deficit was pegged at 6.4 per cent of gross domestic product (GDP). Prime Minister Narendra Modi-led government scrapped the colonial-era tradition of presenting the Budget at the end of February. The then finance minister Arun Jaitley had for the first time presented the annual accounts on February 1, 2017. With the change in the date of Budget presentation, ministries are now allocated their budgeted funds from the start of a financial year beginning April. This gives government departments more leeway to spend as well as allow companies time to adapt to business and taxation plans. Previously, when Budget was presented at the end of February, the three-stage Parliament approval process would get completed some time in mid-May, weeks ahead of the onset of monsoon rains. This meant government departments would start spending on projects only from August-end or September, after the monsoon season ended. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/pakistani-rupee-becomes-worlds-best-performing-currency/articleshow/94724119.cms">Pakistani rupee becomes 'world's best performing currency'</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/middle-east-destinations-see-an-upsurge-amongst-indian-travellers/articleshow/94723228.cms">Middle East destinations see an upsurge, amongst Indian travellers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/people-struggle-as-prices-of-vegetables-grains-go-through-roof-says-report/articleshow/94723150.cms">People struggle as prices of vegetables, grains go through roof, says report</a>

Govt to kick off FY24 Budget making exercise on Monday

<ul><li>India’s economy grew by 7.7% in the quarter that ended on March 2018, the highest rate in seven quarters. </li><li>However, a major reason for this growth is due to the fact that the quarter was measured against the same quarter in 2017, when growth fell to 6.1% because of demonetisation. </li><li>India’s overall growth rate for 2017-18 came in at 6.7%, just a shade above original estimates of 6.6%</li></ul> A day after Moody’s <a href="https://www.businessinsider.in/indias-gdp-growth-forecast-just-got-downgraded-by-moodys-heres-why-that-matters/articleshow/64397592.cms">downgraded its forecast</a> for India’s growth in the current fiscal year to 7.3% from 7.5%, India’s <keyword id="188322" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Statistics">Ministry of Statistics</keyword> released its <a href="http://www.mospi.gov.in/sites/default/files/press_release/nad_PR_31may18.pdf">provisional growth estimates</a> for the last quarter of 2017-18. And the results - which were above expectations - caused market prognosticators to rejoice and stock-markets to surge. With a growth of 7.7% in the three months that ended 31 March, India recorded its highest growth rate in seven quarters and retained the title of the world’s fastest growing economy from China, which grew by 6.8% in the same period. This also marked a significant rebound from the first quarter of fiscal 2018, when the growth rate plummeted to 5.7%. The strong growth was largely a combination of three factors - a pickup in manufacturing, construction and agriculture. A welcome development, but hardly a game-changer After months of bad news, rising oil prices, outflows of foreign funds and depressed expectations of the economy, the figures were a welcome development. However, a major reason for this growth is due to way quarterly growth rates are calculated. Quarterly growth in any given year is measured against the gross production figures in the same quarter of the previous year. The last quarter of 2017-18 had the fortunate distinction of being measured against the first three months of 2017 - the quarter that followed the government’s demonetisation announcement. Growth in the last quarter of 2016-17 fell to 6.1% as consumption declined and businesses, especially SMEs, grappled with the effects of demonetisation. Additionally, the news has no bearing on India’s growth in the current fiscal year, which will likely take a hit as oil prices increase further, the current account deficit worsens and lending to businesses remain sluggish. Further still, India’s overall growth rate for 2017-18 came in at 6.7%, just a shade above original estimates of 6.6%. So, the strong growth in the last quarter didn’t change the big picture much. The overall growth rate was still the lowest annual growth in <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> seen in India since the current government came to power in 2014. Fiscal deficit in control India’s growth in the last quarter of 2017-18 was also lifted by a 14.7% rise in the central government’s expenditure, partly owing to higher spending on defence and public services. However, the government still managed to roughly satisfy its fiscal deficit target of 3.5% of GDP. The fiscal deficit, or the difference between government expenditure and revenues, came in at ₹5.92 trillion, just a inch over 3.5% of the GDP. It was helped in this regard by a dividend handout from the <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) and the proceeds from its disinvestment programme. It also cut down its capital expenditure. The target<a href="https://www.livemint.com/Politics/yJhWieTtggf52ZwdEDHLLN/Fiscal-deficit-goal-revised-to-boost-spending.html"> was increased from 3.2% of GDP</a> earlier this year by Finance Minister Arun <keyword id="6390789" type="PERSON" weightage="20" keywordseo="jaitley">Jaitley</keyword> in his <keyword id="6360189" type="ORGANIZATION" weightage="20" keywordseo="union-budget">Union Budget</keyword> to account for a shortfall in tax receipts as a result of the implementation of the goods and services tax (GST) in July 2017. The government is, however, hoping to reduce its fiscal deficit to 3.3% of GDP in the current fiscal year. Rate hike? India’s year-end growth figures will likely give the RBI the confidence it needs to increase interest rates when its monetary policy committee meets next week. The rise in oil prices has led to an increase in inflation, while foreign funds have left the country in search of higher and safer returns elsewhere. A hike in interest rates will prevent a further increase in outflows and could even help stem the rupee’s depreciation. The RBI decided <a href="https://www.businessinsider.in/the-reserve-bank-of-india-left-rates-unchanged-because-like-us-its-uncertain-about-a-lot-of-things/articleshow/63644188.cms">to keep interest rates on hold </a>at its last meeting in April due to concerns over India’s growth and expectations that the inflation rate would decline. Now, with rebounding growth, improving demand and rising prices, it will strongly consider a rate hike. As things stand, however, India’s economy is still not in the clear. A number of serious headwinds loom in the short-term. It will be interesting to see what India’s growth rate in the first quarter of fiscal 2019 ends up being. Given that the growth rate in the first quarter of fiscal 2018 fell to a three-year low of 5.7%, however, the growth rate in the current quarter will likely exceed expectations.

India was the world's fastest growing economy for first 3 months of 2018, but there’s a catch

New Delhi, Dec 28 () The statistics ministry has constituted a 28 member Standing Committee on Statistics (SCES) chaired by former Chief Statistician Pronab Sen to improve quality of data amid criticism of the government over political interference.
"The first meeting of the SCES is scheduled on January 6, 2020. The agenda would be very broad based. We will come to know about that only in the first meeting next month," Sen told , confirming that an SECS has been constituted.
About the other members, Sen said, "The order to set up the committee has already been issued. But, I don't have details about other members. It has to be seen that how many members come for the first meeting.
Earlier in March this year, expressing concerns over "political interference" in influencing statistical data in India, as many as 108 economists and social scientists had called for restoration of "institutional independence" and integrity to the statistical organisations.
Their statement had come in the backdrop of controversy over revision of gross domestic product (GDP) numbers and withholding employment data by the National Sample Survey Organisation (NSSO).
The economist had said that for decades, India's statistical machinery enjoyed a high-level of reputation for the integrity of the data it produced on a range of economic and social parameters.
"It (statistical machinery) was often criticised for the quality of its estimates, but never were allegations made of political interference influencing decisions and the estimates themselves," they had said in an appeal.
They had appealed to all professional economists, statisticians and independent researchers to come together to raise their voice against the tendency "to suppress uncomfortable data" and impress upon the government to restore access and integrity to the public.
Earlier in November this year, the Ministry of Statistics and Programme Implementation (MOSPI) had decided not to release the Consumer Expenditure Survey results of 2017-18 citing data quality issues.
The MOSPI had also mentioned that an expert panel has recommended that 2017-18 would not be an appropriate fiscal to be used as a base year for new GDP series.
On the consumer expenditure survey, the ministry had earlier said that it was separately examining the feasibility of conducting the next Consumer Expenditure Survey in 2020-2021 and 2021-22 after incorporating all data quality refinements.
The ministry had issued statement against the backdrop of the Congress attacking the Narendra Modi government over the National Statistical Office (NSO) survey which reportedly points to a fall in consumer spending for the first time in four decades in 2017-18.
A media report had also claimed that the survey was approved to be released on June 19 this year but was withheld by the government agency owing to its "adverse" findings.
The MOSPI had said that it has seen media reports regarding consumer expenditure survey by the NSS stating that consumer spending is falling and the report has been withheld due to its 'adverse' findings'. KKS KKS BAL
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MOSPI constitutes committee on economic statistics headed by Pronab Sen

<keyword id="6354321" type="General" weightage="80" keywordseo="bengaluru" source="Orion">Bengaluru</keyword>, March 14 (IANS) Karnataka recorded zero COVID-19 deaths in the last 24 hours, marking the first time since June 5, 2020 that the state has registered no fatalities, according to the Department of Health and Family Welfare. The Department said that although the <keyword id="8764262" type="General" weightage="100" keywordseo="covid" source="Orion">Covid</keyword> case numbers decreased drastically, it took some time for the fatalities to reduce. During March, April, May and June of 2021 at the height of the second wave, Karnataka recorded three-digit deaths everyday. By January 2022, even as it was predicted that the Omicron variant will wreck havoc, the vaccination drive in the state had put the breaks on the fatality rate. Since the last nine days, the state recorded single-digit <keyword id="8784751" type="General" weightage="20" keywordseo="Covid-deaths" source="Orion">Covid deaths</keyword>. So far, Karnataka has registered a total of 40,018 deaths since the onset of the pandemic in early 2020. Karnataka stands next to Maharashtra and Kerala in terms of Covid fatalities in the country. The highest number of deaths in the state are being reported from the capital Bengaluru (16,942). Mysuru comes in second with 2,557 deaths, followed by the Dakshina Kannada district bordering Kerala (1,838), while Yadgir has registered the lowest number at 212. The statistics released on Sunday evening stated that Karnataka logged 164 new Covid cases against 130 recoveries. The active cases in the state stood at 2,656. Bengaluru Urban recorded 112 Covid cases, while 14 districts did not report any. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/interview-you-will-be-able-to-own-bajaj-made-yulu-bikes-by-next-year/articleshow/90172838.cms">You will be able to own Bajaj-made Yulu bikes by next year</a> <a href="https://www.businessinsider.in/stock-market/news/paytms-shares-hit-an-all-time-low-plunging-below-the-700-mark-after-rbi-pulls-up-its-payments-bank/articleshow/90193957.cms">Paytm’s shares hit an all-time low plunging below the ₹700-mark after RBI pulls up its payments bank</a>

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MOSPI constitutes committee on economic statistics headed by Pronab Sen

PTI

No COVID-19 deaths recorded for the first time in 24 hours: Karnataka

IANS

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