Politicians across party lines pay tribute to Pranab Mukherjee : Bulletin: Business Today
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Politicians across party lines pay tribute to Pranab Mukherjee

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BusinessToday.In | September 1, 2020

India's GDP contracts 23.9% in Q1; construction, manufacturing, trade bear the brunt

The Indian economy reported its worst quarterly performance in the first quarter of the current fiscal as the coronavirus-led nationwide lockdown disrupted activities across manufacturing, construction and service sectors like hotels and transportation. India's GDP contracted by a record 23.9 per cent to Rs 26.90 lakh crore in April-June period of the financial year 2020-21, compared to compared to Rs 35.35 lakh crore in the corresponding period last year. This is the worst quarterly GDP numbers ever recorded since India started compiling GDP data on quarterly basis in 1996.

As India's GDP shrinks by 23.9%, Rahul Gandhi says 'I told you so'

With India's GDP contracting to 23.9 per cent, Congress MP Rahul Gandhi on Monday slammed the government for ignoring his warnings. Making a reference to his previous warnings to the government on India's economic situation, Rahul Gandhi wrote on Twitter, "GDP reduces by 24%. The worst in Independent India's history. Unfortunately, the Govt ignored the warnings."

'Left an indelible mark on India's growth': PM Modi, President Kovind honour Pranab MukherjeeFormer President Pranab Mukherjee, 84, passed away on Monday evening. Politicians across party lines and people from all walks of life expressed their sorrow over his demise. The government has declared seven-day state mourning from August 31 to September 6 throughout India in memoriam.

Demand will only materialise once economic activity gathers momentum: Dun & Bradstreet

The pace of economic revival crucially depends on how quickly the health concerns abate, economic activities restart, and the psychological impact of COVID-19 subsides, says a report. According to Dun & Bradstreet's Economy Forecast, demand will only materialise once the economic activity gathers momentum.

Congress seeks probe into Facebook-BJP nexus, wants India leadership suspended

The Congress has reiterated its demand for a joint parliamentary committee investigation into the alleged Facebook-WhatsApp-BJP nexus. It has also demanded a separate criminal investigation into the matter and immediate suspension of Facebook's India leadership team until the completion of such investigation.  The demands of Congress come after international media reports point to the alleged bias showed by a key Facebook India employee to favour the ruling party.  

India's foreign minister says favourable U.S. visa policy would be good for both countries

Foreign minister, Subrahmanyam Jaishankar, said on Monday a U.S. visa policy that supported Indian talent would be beneficial for both countries. A more knowledge-driven, global economy will require more trusted talent, which is an opportunity for India, Jaishankar told a virtual conference on relations between the two nations.

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