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GDP growth to be positive in next quarter: Top official
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SME Times News Bureau | 18 Dec, 2020
India's GDP growth will turn positive in the January-March quarter, said
Tarun Bajaj, the Secretary of the Department of Economic Affairs (DEA)
on Friday.
Speaking at the CII Partnership Summit 2020, the
official said that agriculture has been the positive aspect in the
current scenario.
"The way we are monitoring the parameters, the
GDP growth will be positive in the next quarter. Agriculture has been
the positive aspect in the current scenario," he said.
He further said that the government expenditure is up by 5 per cent YoY and capex is up by 15 per cent YoY.
In
the June-September quarter, India's GDP on a year-on-year basis
contracted by (-) 7.5 per cent from (-) 23.9 per cent in the preceding
quarter.
The Reserve Bank of India (RBI) has revised the real GDP
growth projection for FY21 upwards to (-) 7.5 per cent on the back
signs of faster recovery after the narrowing of the GDP contraction for
the July-September, along with hopes of Covid-19 vaccines.
This is an upward revision from the earlier estimate of (-) 9.5 per cent.
Post
the last MPC meet, RBI Governor Shaktikanta Das had said that the
growth will enter positive zone in the third quarter of current fiscal
with projection that GDP may grow at 0.1 per cent and the growth will
further improve in Q4 to 0.7 pet cent.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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