Connect with us

Business

India’s GDP growth slumps to over 6-year low of 5% in April-June 2019

Published

5 years ago

on

NEW DELHI — Indian economic growth slumped to a six-year low of 5% in the April-June quarter because of a sharp deceleration in manufacturing output and subdued activity in farming and construction, a government report showed Friday.

Chief Economic Adviser K.V. Subramanian also attributed the slowdown to global trade tensions. The Ministry of Statistics and Program Implementation released the data. The sale of new cars has also dipped 20%, raising fears of a deep slowdown.

Subramanian said the government is taking various steps to boost economic expansion.

India’s central bank said reviving consumption and private investment would require greater spending on infrastructure and structural changes, including labor law, taxation and legal reforms.

India’s GDP growth averaged 7.7% from 2014 to 2018. The economy began losing momentum after expanding 8% in the April-June quarter last year. The previous low GDP growth was 4.3% in the January-March quarter in 2013.

Various economists and surveys had predicted a decline in the GDP for the June quarter. But the GDP growth rate of 5 per cent remained well below even these estimates. India Ratings and Research Pvt Ltd had expected the Q1 GDP numbers to plunge to 5.7 per cent. Reuters’ poll had said the Indian economy would grow at a year-on-year pace of 5.7 per cent in the June quarter.

Finance Minister Nirmala Sitharaman announced the merger of 10 state-run banks into four and promised a recapitalization of funds to improve lending to businesses. The government on Wednesday announced a liberalization of foreign direct investment in domestic manufacturing, coal mining and digital media to infuse capital into the economy.

Related Topics:
Continue Reading

Business

Apple is giving a huge discount on its gadgets: Details inside

Published

2 years ago

on

May 5, 2022

By

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

Continue Reading

Trending