India steps out of recession - GDP grows 0.4% in Dec quarter : Bulletin: Business Today
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India steps out of recession - GDP grows 0.4% in Dec quarter

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Shailendra Shukla | February 27, 2021

India steps out of recession - GDP grows 0.4% in Dec quarter

Indian economy reported growth in the December quarter after two quarters of contraction. The nation's Gross Domestic Product (GDP) saw revival, albeit marginally, as economic activities resumed after a long and arduous lockdown and overall sentiment improved with the rollout of vaccination drive. As per government data, India's GDP increased 0.4 per cent during the third quarter ended December 31, 2020.

Amazon Pay, Uber expand collaboration beyond payments in India

In a move aimed at enhancing the safety of drivers and passengers, Uber has partnered with Amazon Pay for installing plastic screens in 40,000 Uber Autos across seven cities in India. The seven cities are Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, Pune and Jaipur, a statement read. In October last year Amazon Pay and Uber had in a global first announced an association for allowing Uber riders to make contactless, cashless payments using Amazon Pay.

Govt sees India's GDP contracting 8% in FY21

The government expects India's real gross domestic product (GDP) to contract by 8 per cent in financial year 2020-21, as per the second advanced and quarterly estimates released by the Ministry of Statistics and Programme Implementation on Friday. After contracting for two consecutive quarters, India's GDP grew 0.4 per cent in October-December quarter.

Existing COVID-19 guidelines to continue till March 31: MHA

The home ministry Friday said the existing COVID-19 guidelines will remain in force till March 31. In a statement, the Ministry of Home Affairs (MHA) said while there has been a substantial decline in the active and new COVID-19 cases, there is need to maintain surveillance, containment and caution so as to fully overcome the pandemic. The states and union territories have also been advised to speed up the vaccination of the target population so as to break the chain of transmission and overcome the pandemic.

Need to raise credit flow to businesses amid economic growth: PM Modi

Prime Minister Narendra Modi on Friday stressed on increasing credit flow to businesses to meet the needs of a fast reflating economy and said financial products will have to be tailor-made for fintech and startups. He said that although the government's endeavour is to promote the private sector, public sector presence in banking and insurance is also required.

FASTag toll collection touches record Rs 104 crore per day, says NHAI

National Highways Authority of India (NHAI) on Friday said its daily toll collection through FASTag has reached about Rs 104 crore. Following the mandatory payment of user fee through FASTag at the toll plazas from February 16, 2021, toll collection through FASTag has seen consistent growth, it said. NHAI said the FASTag drive has been well supported by the highway users as approximately 20 lakh new FASTag users have been added during last two weeks, taking total FASTag issuance to 2.8 crore. FASTag implementation has also reduced the waiting time at National Highways Fee Plazas significantly, resulting in enhanced user experience.

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