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GDP numbers reflect continuing trajectory of growth: Bibek Debroy
New Delhi, May 31 (IANS) Prime Minister’s Economic Advisory Council Chairman Bibek Debroy on Friday said the GDP estimates for the fourth quarter of FY18 reflected continuity in the momentum of the growth trajectory.
The fourth quarter estimate of Gross Domestic Product (GDP) released by the Central Statistics Office (CSO) estimated the growth rate at 7.7 percent as against 5.6 per cent, 6.3 per cent and 7 per cent respectively in the first three quarters.
“Q4 registered the strongest quarterly growth last financial year indicating a broader continuity in growth acceleration trends,” said a statement issued by Debroy’s office.
Debroy said that the key sectors of the economy were experiencing steady growth.
“The improved growth numbers are due to the government’s consistent effort in implementing bold structural reforms. Goods and Services Tax, Insolvency and Bankruptcy Code, bank recapitalization, 100 per cent village electrification, repealing archaic laws, simplifying doing business have all contributed positively towards growth,” he said.
He added that sound macroeconomic management by the government combined with weather office’s prediction of normal monsoon was likely to further boost consumer demand, particularly rural demand, in the economy.
The NITI Aayog Member said the government had done well in keeping inflation and fiscal deficit under check.
“The retail price inflation has remained close to 3.6 per cent during 2017-18.”
The RBI, in its Monetary Policy Report of April, projected the Consumer Price Inflation (CPI) to rise from 4.4 per cent to 5.1 per cent in the first quarter of FY19 on the back of crude oil prices shooting up.
“The inflation concern is genuine; however, a normal monsoon combined with a prudent fiscal policy being followed by the government would help keep the overall inflation under control,” Debroy said.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.