India's Gross Domestic Product (GDP) in the first quarter (April-June) of the fiscal year grew by 13.5 per cent, as against a 20.1 per cent growth seen during the same period last year, data released by the National Statistical Office showed on Wednesday. HT brings you a round-up of the most important and interesting stories, so you don’t miss your daily dose of news. |
THE BIG STORY GDP grows 13.5% in Q1, less than RBI prediction India’s GDP grew at 13.5% in the quarter ending June 2022, much lower than the 16.2% forecast by the Reserve Bank of India’s Monetary Policy Committee (MPC) and the 15.5% projection by a Bloomberg poll of economists. Having surprised significantly on the downside, the latest GDP numbers raise questions about the economy’s growth prospects this fiscal — the RBI expects GDP growth for 2022-23 to be 7.2% — and perhaps also the rationale of policy pivot towards inflation management instead of supporting growth. Read more. |
STORIES YOU MAY HAVE MISSED |
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The Big Question Has this been Delhi’s driest August in 16 years? The month of August ended with 41.6mm of rainfall for Delhi, translating to a deficit of 83% from the normal of 247.7mm for the month, making it the Capital’s driest August in 16 years, data from India Meteorological Department (IMD) showed on Wednesday. Read more. |
 Jake Sully is back after 13 years as this otherworldly film sequel releases in cinemas. Put on your 3D glasses and see if you still care about the Na’avi, Pandora, Unobtanium, Neytiri and lanky, blue forest folk. Name the film. |
From the Edit Page India is still awaiting key police reforms In a recent lecture in Raipur on August 27, Union home minister Amit Shah said that the government was strengthening central probe agencies, including the National Investigation Agency (NIA), whose units would be established in every state by 2024. The following day, on another occasion in Gandhinagar, he said that the government will provide portable forensic units to all districts to improve the conviction rate for crimes and standardise the investigation process. Read more. |
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Number Theory Shrinking public sector employment and its costs Despite several decades of rapid growth of the private sector in India, the allure of a public sector job, historically associated with security, steady pay, and multiple benefits, continues to remain strong for most Indians. The protests following the announcement of the Agnipath scheme for the armed forces, and the uproar around the Bihar railways recruitment issue prior to that have to be seen in this larger context of the aspirations and hopes that have been traditionally placed on public sector employment. This piece highlights how, as the public sector has contracted, there has been no other good employer that has emerged to take its place despite the economic expansion of manufacturing and services sectors. Moreover, public sector employment is an important vehicle for social justice in the labour market (through affirmative action), and the weakening of this sector has consequences for the economic mobility of historically marginalised communities. Read more. |
From the Field Party, drugs, mystery: How the Phogat tragedy has rocked Goa On the morning of August 22, 42-year-old Sonali Phogat, her 39-year-old manager Sudhir Sangwan, and his 33-year-old associate Sukhwinder Singh, landed in Goa. It was meant to be a work trip, and Phogat had conveyed to her mother that she would be back in Hisar by the 25th. By the next morning though, Phogat — actor, fledgling politician, and Instagram star — was dead. And the two men that she came with were accused of drugging her in one of Goa’s most controversial and popular bars. Read more. |
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Infographic of the Day The life and times of Mikhail Gorbachev  (Click to expand) |
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