Connect with us

National

Over 7 pc growth, 2nd highest GST collection: Economic indicators augur well in poll season

Published

on

Over 7 pc growth, 2nd highest GST collection: Economic indicators augur well in poll season

New Delhi, March 1 (IANS) While the world powers grapple to rev up their economies in the post-Covid phase, India is yet again turning out to be the ‘bright spot’, on the back of its impressive economic parameters and growth outlook.

India’s Gross Domestic Product (GDP) growth is slated to attain a new peak, sectors like manufacturing and automobiles have started looking up again, and the GST collections are attaining new highs. All these indicators augur well for the country’s growth and have also come as a major boost for the incumbent Narendra Modi government.

Political watchers see this as a “strong rallying point” for the Bharatiya Janata Party (BJP)-led government at the Centre as inclusive growth and economic upliftment have been its major poll planks.

Prime Minister Modi’s personal push for making growth one of the party’s main war cries in elections is a known fact and the numbers, from GDP to GST to inflation, are only adding to the party’s benefit.

ALSO READ:  Intel Israel shared with India on Rajiv Gandhi went missing after former PM's assassination, expert reckons during Usanas Foundation discussion

The GDP estimates, released by the National Statistical Office on Thursday, saw India’s resilient growth in the Financial Year 2023-2024. It recorded real GDP growth in Q3 of FY 23-24 at a whopping 8.4 per cent, aided by double-digit growth in manufacturing and construction activities.

Overall, the economy is expected to grow above 7.6 per cent in the current financial year.

India Inc hailed the numbers and many saw it as India’s resurgence amidst a cloudy economic scenario.

The GST collections also recorded stellar growth. It saw robust growth of 12.5 per cent in February (year-on-year) and rose to record Rs 1.68 lakh crore, the second highest in a month. Gross GST collection for the year also increased by 11.7 per cent.

Moreover, vehicle sales set a new record of 4.1 million while inflation was logged at a three-month low of 5 per cent. On Friday, Sensex also breached new barriers and closed at an all-time high of 73,574.

ALSO READ:  229 nominations filed for five LS seats in Maharashtra for Phase 1

All these economic indicators show that the economy is on an uptrend and the country is headed for another phase of bullish growth.

Contrary to this, the Western counterparts are clocking “not very encouraging” numbers in terms of economy.

The ramifications of the Russia-Ukraine military conflict and the Israel-Hamas war are only pilling up and will only add more pressure on the already “burdened” economies.

India looks much in control, as compared to its Western and developed counterparts. But, naysayers do find a reason to count the country’s drawbacks and throw mud at the Centre.

Congress and other rival parties have gone to great lengths, berating the government on issues like unemployment, price rise, and farmers’ grievances while mobilizing support for regressive policies like the ‘Old Pension Scheme’ and caste-based Census.

Political pundits rightly find the reason behind the lacklustre opposition before the brand Modi.

“In today’s age, when PM Modi is hard-selling the $5 trillion economy dream to countrymen, Rahul Gandhi and his company (opposition leaders) are occupied with caste census. They have clearly failed to grasp the nation’s mood and don’t represent the aspirations of young India,” says one of them.

ALSO READ:  MoRD partners with IIT Delhi for applications of geospatial tech, AI

–IANS

mr/sha

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National

Defence Ministry: Year 2025 will be year of reforms

Published

on

rajnath singh with armed forces chief

On Wednesday, the Defence Ministry announced that 2025 will be designated as the “Year of Reforms,” with a primary focus on establishing integrated theatre commands to enhance collaboration among the three branches of the military.

These reforms are aimed at transforming the armed forces into a technologically advanced, combat-ready force capable of executing multi-domain integrated operations, the ministry stated.

The initiative will emphasize emerging domains such as cyber and space, alongside cutting-edge technologies like artificial intelligence, machine learning, hypersonics, and robotics.

Defence Minister Rajnath Singh described the “Year of Reforms” as a pivotal milestone in the modernization of the armed forces.

“It will set the stage for significant advancements in the nation’s defense capabilities, ensuring the security and sovereignty of India in the face of 21st-century challenges,” he said.

ALSO READ:  Prajwal Revanna blackmailed, raped me repeatedly after sexually assaulting in his office and recording act, says victim in 2nd FIR against Gowda’s grandson
Continue Reading

National

A 3.2 magnitude tremor struck Gujarat’s Kutch district on Wednesday morning

Published

on

A 3.2 magnitude tremor struck Gujarat’s Kutch district on Wednesday morning, according to the Institute of Seismological Research (ISR).

The district administration reported no casualties or property damage following the quake.

The tremor occurred at 10:24 am, with its epicenter located 23 kilometers north-northeast (NNE) of Bhachau, as per the Gandhinagar-based ISR.

Last month, the region experienced four seismic events exceeding a magnitude of 3, including a 3.2 magnitude tremor just three days ago, with its epicenter also near Bhachau.

Earlier tremors in the area included a 3.7 magnitude earthquake on December 23 and a 3.2 magnitude event on December 7, according to ISR reports.

Kutch was also jolted by a 4.0 magnitude earthquake on November 18, 2024. On November 15, a 4.2 magnitude quake hit Patan in north Gujarat, based on ISR data.

Gujarat is considered a high-risk earthquake zone, having experienced nine major earthquakes over the past 200 years, according to the Gujarat State Disaster Management Authority (GSDMA). The 2001 earthquake in Kutch, which occurred on January 26, was the third-largest and second-most destructive in India in the last two centuries, according to the GSDMA.

ALSO READ:  With effective policies of Modi govt, we could create 2 Unicorns in just 9 years: OfBusiness Co-founder
Continue Reading

National

Diljit Dosanjh faces legal action over concert songs

Published

on

Singer and actor Diljit Dosanjh’s much-anticipated New Year’s Eve concert in Ludhiana faced legal hurdles after a complaint was filed by Punditrao Dharenavar, an assistant professor from Chandigarh.

Following the complaint, the Deputy Director of the Women and Child Department, Government of Punjab, issued a formal notice to Ludhiana’s District Commissioner, urging them to prohibit Dosanjh from performing specific songs during his live show on December 31, 2024.

The notice specifically targets songs accused of promoting alcohol, including Patiala Peg, 5 Tara Theke, and Case (Jeeb Vicho Feem Labbiya), even if the lyrics are slightly modified. The complaint points to previous warnings issued to Dosanjh by various commissions advising against performing these controversial tracks.

Despite these warnings, the singer allegedly continues to perform the songs with minor alterations. Dharenavar raised serious concerns about the influence of such music on young audiences, especially when minors are present at live events.

Adding to the controversy, Dharenavar referenced a 2019 Punjab and Haryana High Court ruling, which directed law enforcement to ensure that songs promoting alcohol, drugs, or violence are not played at public events, including concerts. This ruling underscores the legal basis for the complaint and has further intensified the scrutiny surrounding the event.

ALSO READ:  With effective policies of Modi govt, we could create 2 Unicorns in just 9 years: OfBusiness Co-founder
Continue Reading

National

UP Minister’s convoy overturns, 5 person injured

Published

on

UP Minister’s convoy overturns, 5 person injured

Five people sustained injuries when a vehicle in the convoy of Uttar Pradesh Minister and Nishad Party chief Sanjay Nishad overturned into a ditch near Januan village in the Khejuri Police Station area of Ballia district late last night.

Sanjay Nishad shared details of the incident, stating that the accident injured five party workers, including four women.

“I was traveling with the convoy to participate in the Constitutional Rights Yatra organized by the party on Tuesday night. Near Januan village in the Khejuri area, one of the vehicles following the convoy lost control while trying to avoid an animal and overturned into a ditch,” Nishad explained.

The injured individuals have been identified as Rakesh Nishad, Ramrati, Usha, Geeta, and Iravati Nishad.

Senior police and administrative officials quickly arrived at the scene following the incident to oversee the situation.

ALSO READ:  229 nominations filed for five LS seats in Maharashtra for Phase 1
Continue Reading

National

Suchir Balaji’s mother alleges Murder

Published

on

Suchir Balaji’s mother alleges Murder

The mother of Suchir Balaji, a 26-year-old former OpenAI researcher found dead after accusing the company of copyright violations, has alleged that her son was “murdered” and called for a Federal Bureau of Investigation (FBI) probe.

Poornima Rao, Suchir’s mother, claimed her son’s death was a “cold-blooded murder” that authorities wrongly ruled as suicide. She further disclosed that a private autopsy report conflicted with the findings of the initial police investigation.

Rao alleged that her son’s apartment had been “ransacked” and cited evidence of a struggle in the bathroom, including bloodstains that suggested he had been assaulted.

“We hired a private investigator and conducted a second autopsy to uncover the truth. The private autopsy does not confirm the cause of death stated by the police. Suchir’s apartment was ransacked, there were signs of a struggle in the bathroom, and it appears he was hit based on blood spots. This is a cold-blooded murder being misclassified as a suicide. Lobbying in San Francisco won’t deter us from seeking justice. We demand an FBI investigation,” Rao wrote on X.

ALSO READ:  UP CM slams Congress for 'anti-women' stand, Randeep Surjewala says his statement twisted out of context

Elon Musk reacted to Rao’s post, commenting, “This doesn’t seem like a suicide.”

Balaji was discovered dead in his San Francisco apartment months after accusing OpenAI of violating copyright laws during the development of ChatGPT, as reported by Fox News. Despite these claims, the San Francisco Police Department found no evidence of foul play and ruled the death a suicide.

On October 24, shortly before his death, Balaji voiced doubts about the “fair use” defense in generative artificial intelligence. “I recently participated in a NYT story about fair use and generative AI, and why I’m skeptical ‘fair use’ would be a plausible defense for a lot of generative AI products,” he wrote on X.

Continue Reading

Trending