India’s economic growth dips to 7-year low of 5 percent in April-June: Official data
New Delhi, Aug 30: India's economic growth dropped to a seven-year low of 5 per cent in the April-June quarter of 2019-20 due to a sharp deceleration in the manufacturing sector and sluggish agriculture output, according to official data released on Friday.
The previous low was recorded at 4.9 per cent in April-June 2012-13. The economic growth was 8 per cent in the same quarter of 2018-19.
The Reserve Bank had marginally lowered the GDP growth projection for 2019-20 to 6.9 per cent from 7 per cent projected earlier in the June policy, and underlined the need for addressing growth concerns by boosting aggregate demand.
"Real GDP growth for 2019-20 is revised downwards from 7 per cent in the June policy to 6.9 per cent - in the range of 5.8-6.6 per cent for first half of 2019-20 and 7.3-7.5 per cent for the second half - with risks somewhat tilted to the downside," RBI had said in the monetary policy statement.
China's economic growth was 6.2 per cent in April-June quarter of 2019, which was the weakest expansion in 27 years.
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CPI(M) rebel Kunhikrishnan hopes for 5,000-vote win in Payyanur
Kannur (Kerala) (PTI): CPI(M) rebel candidate V Kunhikrishnan, who contested as a UDF-backed Independent from Payyanur here, on Saturday said he was hoping to win the Assembly election by a margin of 5,000 votes.
Kunhikrishnan was expelled from the CPI(M) earlier this year after raising allegations of corruption in the party’s martyrs’ fund against sitting MLA T I Madhusoodanan.
Speaking to a TV channel, Kunhikrishnan said he had announced his candidature as a mark of protest and not with expectations of victory.
However, he said the situation had changed drastically, with a strong undercurrent within CPI(M) votes favouring him.
"The undercurrent in CPI(M) votes cannot be measured. Now people are giving a response indicating victory with a margin of at least 5,000 votes," he said.
Payyanur is considered a CPI(M) stronghold, and a defeat for Madhusoodanan there would be a major setback for the party.
On political violence in Payyanur, Kunhikrishnan said he had been facing it since filing his nomination.
"The people leading this violence should think about how long they can continue it. It is the police which has to take the initiative to stop this violence as part of maintaining law and order. But the police are not intervening at the required level," he said.
Regarding his political future, Kunhikrishnan said efforts were underway to strengthen Left groups, and discussions were being held across Kerala in that regard.
"After discussing with others, a decision will be taken," he said.
Kunhikrishnan is among six former CPI(M) leaders who either exited the party or were suspended before contesting for the UDF in the April 9 Assembly elections.
Elections to the 140-seat Kerala Assembly were held on April 9, and the counting of votes will be held on May 4.
