According to data released by National Statistical Office (NSO), India’s Gross Domestic Product (GDP) grew 5% in the April-June 2019 Quarter, much lower than 8 % growth in the same quarter last fiscal.
About:
The latest GDP growth of 5 % is the lowest in six years with the previous low recorded at 4.3 % in March 2013.
It is also lower than 5.8 % GDP growth in the March quarter in 2018-19. This is the second straight quarter when the quarterly GDP growth was lower than 6 %.
The growth has slowed down in five out of eight sectors, reflecting the widespread weakness in the overall economy. Growth during the first quarter was dragged down by manufacturing growth at 0.6 % as compared to 12.1 % in same quarter last fiscal.
Private consumption has fallen in the quarter under review.
Growth rate of Gross Value Added (GVA), which is GDP minus net product taxes, fell below 5 % level to 4.9 % in the first quarter of this financial year as against 7.7 % in the corresponding period last year.
Nominal GDP growth was recorded at 8.0 % in April-June as against 12.6 % last year.
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The Reserve Bank of India (RBI) central board decided to transfer ₹1.76 lakh crore to the government (including a sum of ₹52,637 crore from its contingency reserve), to address the Central government’ fiscal situation.
About:
This led to the question that how did the central bank post such a massive surplus? The RBI earns money in a variety of ways.
Open market operations, wherein a central bank purchases or sells bonds in the open market in order to regulate money supply in the economy, are a major source of income for the RBI.
Apart from the interest received from these bonds, the RBI may also profit from favourable changes in bond prices.
Dealings in the foreign exchange market that the RBI engages in may also contribute to the bank’s profits. The RBI may buy dollars cheaply and sell them dear in the future to pocket profits.
It should be noted, however, that unlike commercial banks, the primary mandate of the RBI is not to earn profits but to preserve the value of the rupee. Profit and loss are thus merely a side effect of its regular operations to shape monetary policy.
🍁🍁🍁🍁🍁🍁🍁🍁🍁🍁
Daily CA One Liners ,
01 September 2019 .
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🔶 Wipro3D - NDRF Sign MoU For Collaboration In Design For Additive Manufacturing Of Aerospace Systems
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🔶 Dell Partners With UNESCO To Organize Its 2nd PolicyHack For Teachers
🔶 Haryana Govt Launched ' Har Pashu Ka Dhyan ' App To Collect Data Of Animal
🔶 IIT Delhi Signs MOU With Denmark’s DESMI To Setup ‘ Waste To Wealth ’ Center
🔶 Apache Helicopters To Be Inducted Into IAF At Pathankot On Sept 3
🔶 OBC Quota In Chhattisgarh Increased From 14% To 27%
🔶 India’s Economic Growth Slows To 5% In April-June : Govt Data
🔶 FM Nirmala Sitharaman Announced Merger Of 10 Public Sector Banks
🔶 PNB , Oriental Bank , United Bank Will Be Merged Into 1 Bank
🔶 Indian Bank To Merge With Allahabad Bank To Form India's 7th Largest PSB
🔶 REC’s 50th Annual General Meeting Held At New Delhi
🔶 Assam : Final List Of National Register Of Citizens (NRC) Has Been Published
🔶 Total 3,11,21,004 Persons Are Included In Assam NRC List
🔶 1.9 Million Excluded From NRC List In Assam State
🔶 NTPC Commissions India’s 1st Ultra Super Critical Plant In Khargone , MP
🔶 Marbat Festival Celebrations Underway In Nagpur , Maharashtra
🔶 Vivek Kumar Johri Took Charge As The Director General Of BSF
🔶 Principal Secretary To PM Modi Nripendra Misra Steps Down
🔶 P K Jena Appointed As Odisha Special Relief Commissioner
🔶 Subir Chowdhury Appointed As JCB India MD & CEO
🔶 S S Bhondve Appointed As Personal Secretary To Nitin Gadkari
🔶 Ipsos Global Advisor Released Global Happiness Survey 2019
🔶 Australia & Canada Topped Global Happiness Survey 2019
🔶 China Ranked 2nd In The Global Happiness Survey 2019
🔶 Britain Ranked 3rd In The Global Happiness Survey 2019
🔶 France Ranked 4th In The Global Happiness Survey 2019
🔶 US Ranked 5th In The Global Happiness Survey 2019
🔶 Saudi Arabia Ranked 6th In The Global Happiness Survey 2019
🔶 Germany Ranked 7th In The Global Happiness Survey 2019
🔶 India Ranked 9th In The Global Happiness Survey 2019
🔶 GeM - SIDBI Sign MoU To Enable Growth Of MSMEs , Start-ups
🔶 Kerala's Oldest Jewish Woman Sarah Jacob Cohen Passed Away At 96
🔶 Myanmar , China Sign MoU For Friendship Forest Project
🔶 67th Nehru Trophy Boat Race 2019 To Be Held In Kerala
🔶 Government Partners With Google On ' Build For Digital India '
🔶 IIT-KGP , Amazon Join Hands To Develop Artificial Intelligence Portal
🔶 Delhi Govt To Extend Free Coaching To OBC , General Category Students
🔶 WHO Southeast Asia Region Health Ministers Meeting Held In New Delhi
🔶 DM Rajnath Singh Will Visit Japan & South Korea In September
🔶 R S Jha New Chief Justice Of Punjab & Haryana HC
🔶 India's Forex Exchange Reserves Declined By $1.45 Billion To $430.50 Billion
🔶 IndiGo Chief Financial Officer Rohit Philip Resigned
🔶 2% TDS On Cash Withdrawals Of Over Rs 1 Crore From Sept 1 .
🍁🍁🍁🍁🍁🍁🍁🍁🍁
✔️ New Governor's Appointments
👨 Kalraj Mishra Appointed As New Governor Of Rajasthan
👨 Bhagat Singh Koshyari Appointed As New Governor Of Maharashtra
👨 Bandaru Dattatreya Appointed As New Governor Of Himachal Pradesh
👨 Arif Mohammed Khan Appointed As New Governor Of Kerala
👨 Tamilisai Soundararajan Appointed As New Governor Of Telangana .
🍁🍁🍁🍁🍁🍁🍁🍁🍁🍁
About:
The latest GDP growth of 5 % is the lowest in six years with the previous low recorded at 4.3 % in March 2013.
It is also lower than 5.8 % GDP growth in the March quarter in 2018-19. This is the second straight quarter when the quarterly GDP growth was lower than 6 %.
The growth has slowed down in five out of eight sectors, reflecting the widespread weakness in the overall economy. Growth during the first quarter was dragged down by manufacturing growth at 0.6 % as compared to 12.1 % in same quarter last fiscal.
Private consumption has fallen in the quarter under review.
Growth rate of Gross Value Added (GVA), which is GDP minus net product taxes, fell below 5 % level to 4.9 % in the first quarter of this financial year as against 7.7 % in the corresponding period last year.
Nominal GDP growth was recorded at 8.0 % in April-June as against 12.6 % last year.
🍁🍁🍁🍁🍁🍁🍁🍁🍁🍁
The Reserve Bank of India (RBI) central board decided to transfer ₹1.76 lakh crore to the government (including a sum of ₹52,637 crore from its contingency reserve), to address the Central government’ fiscal situation.
About:
This led to the question that how did the central bank post such a massive surplus? The RBI earns money in a variety of ways.
Open market operations, wherein a central bank purchases or sells bonds in the open market in order to regulate money supply in the economy, are a major source of income for the RBI.
Apart from the interest received from these bonds, the RBI may also profit from favourable changes in bond prices.
Dealings in the foreign exchange market that the RBI engages in may also contribute to the bank’s profits. The RBI may buy dollars cheaply and sell them dear in the future to pocket profits.
It should be noted, however, that unlike commercial banks, the primary mandate of the RBI is not to earn profits but to preserve the value of the rupee. Profit and loss are thus merely a side effect of its regular operations to shape monetary policy.
🍁🍁🍁🍁🍁🍁🍁🍁🍁🍁
Daily CA One Liners ,
01 September 2019 .
🔶 Delhi Govt Approves New Scholarship Scheme For SC Students
🔶 Ministry Of Civil Aviation Launches Aviation Jobs Portal
🔶 Govt Targets 100% Electrification Of Railways In Next 10 Years
🔶 Complete Ban On Use Of Polythene Bags To Come Into Force In UP From Today
🔶 Wipro3D - NDRF Sign MoU For Collaboration In Design For Additive Manufacturing Of Aerospace Systems
🔶 HRD Ministry Launched ' Shagun ' App To Ensure Transparency In Education System In India
🔶 Rahkeem Cornwall (140KG) Become The Heaviest Cricketer To Play International Cricket
🔶 Dell Partners With UNESCO To Organize Its 2nd PolicyHack For Teachers
🔶 Haryana Govt Launched ' Har Pashu Ka Dhyan ' App To Collect Data Of Animal
🔶 IIT Delhi Signs MOU With Denmark’s DESMI To Setup ‘ Waste To Wealth ’ Center
🔶 Apache Helicopters To Be Inducted Into IAF At Pathankot On Sept 3
🔶 OBC Quota In Chhattisgarh Increased From 14% To 27%
🔶 India’s Economic Growth Slows To 5% In April-June : Govt Data
🔶 FM Nirmala Sitharaman Announced Merger Of 10 Public Sector Banks
🔶 PNB , Oriental Bank , United Bank Will Be Merged Into 1 Bank
🔶 Indian Bank To Merge With Allahabad Bank To Form India's 7th Largest PSB
🔶 REC’s 50th Annual General Meeting Held At New Delhi
🔶 Assam : Final List Of National Register Of Citizens (NRC) Has Been Published
🔶 Total 3,11,21,004 Persons Are Included In Assam NRC List
🔶 1.9 Million Excluded From NRC List In Assam State
🔶 NTPC Commissions India’s 1st Ultra Super Critical Plant In Khargone , MP
🔶 Marbat Festival Celebrations Underway In Nagpur , Maharashtra
🔶 Vivek Kumar Johri Took Charge As The Director General Of BSF
🔶 Principal Secretary To PM Modi Nripendra Misra Steps Down
🔶 P K Jena Appointed As Odisha Special Relief Commissioner
🔶 Subir Chowdhury Appointed As JCB India MD & CEO
🔶 S S Bhondve Appointed As Personal Secretary To Nitin Gadkari
🔶 Ipsos Global Advisor Released Global Happiness Survey 2019
🔶 Australia & Canada Topped Global Happiness Survey 2019
🔶 China Ranked 2nd In The Global Happiness Survey 2019
🔶 Britain Ranked 3rd In The Global Happiness Survey 2019
🔶 France Ranked 4th In The Global Happiness Survey 2019
🔶 US Ranked 5th In The Global Happiness Survey 2019
🔶 Saudi Arabia Ranked 6th In The Global Happiness Survey 2019
🔶 Germany Ranked 7th In The Global Happiness Survey 2019
🔶 India Ranked 9th In The Global Happiness Survey 2019
🔶 GeM - SIDBI Sign MoU To Enable Growth Of MSMEs , Start-ups
🔶 Kerala's Oldest Jewish Woman Sarah Jacob Cohen Passed Away At 96
🔶 Myanmar , China Sign MoU For Friendship Forest Project
🔶 67th Nehru Trophy Boat Race 2019 To Be Held In Kerala
🔶 Government Partners With Google On ' Build For Digital India '
🔶 IIT-KGP , Amazon Join Hands To Develop Artificial Intelligence Portal
🔶 Delhi Govt To Extend Free Coaching To OBC , General Category Students
🔶 WHO Southeast Asia Region Health Ministers Meeting Held In New Delhi
🔶 DM Rajnath Singh Will Visit Japan & South Korea In September
🔶 R S Jha New Chief Justice Of Punjab & Haryana HC
🔶 India's Forex Exchange Reserves Declined By $1.45 Billion To $430.50 Billion
🔶 IndiGo Chief Financial Officer Rohit Philip Resigned
🔶 2% TDS On Cash Withdrawals Of Over Rs 1 Crore From Sept 1 .
🍁🍁🍁🍁🍁🍁🍁🍁🍁
✔️ New Governor's Appointments
👨 Kalraj Mishra Appointed As New Governor Of Rajasthan
👨 Bhagat Singh Koshyari Appointed As New Governor Of Maharashtra
👨 Bandaru Dattatreya Appointed As New Governor Of Himachal Pradesh
👨 Arif Mohammed Khan Appointed As New Governor Of Kerala
👨 Tamilisai Soundararajan Appointed As New Governor Of Telangana .
🍁🍁🍁🍁🍁🍁🍁🍁🍁🍁
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