Estimates show ‘upside potential’ for economy this financial year: CEA
Chief Economic Adviser K V Subramanian on Friday said there is an “upside potential” in the estimates about the economy during the current financial year as recovery is taking faster than expected.
Giving outlook for the near future, he said, “We should be cautiously optimistic and the caution is warranted because economic impact is primarily due to the pandemic.” Given the uncertainty, he said, it is difficult to predict if positive territory can be hit in the third or fourth quarter of this fiscal.
“I would say that the given what we have seen in Q1 and Q2 and with the optimism that is being seen in the estimates, I do see upside potential in that estimate given the good recovery that is happening,” he said when asked about growth estimates for the entire financial year.
He further said that food inflation is expected to soften in the third quarter and it is something which has to be tracked closely.
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- The Delhi Police have registered seven FIRs in connection with the protesting farmers' tractor parade, officials said.
- Farm leaders alleged Sidhu — who earlier publicly aired his differences with the Samyukt Kisan Morcha — tried to defame the farmers’ stir.
- Rai stated that the incident has hurt the “country’s devotional spirit” and an inquiry is essential to determine how anti-social elements managed to enter the tractor rally.
- Shah directed that additional central paramilitary forces be deployed in Delhi with immediate effect and individuals and groups behind the Red Fort seize be brought to justice.
- While more than 100,000 people attended the parade during the previous years, with Covid-19 norms in place on Tuesday, the crowd was limited to 25,000.
- The Opposition, including the Congress, alleges that the government rushed the farm laws without proper discussion in Parliament. The Centre, however, says the reforms will lead to new opportunities in agriculture trade.
- The parliament canteen, now run by ITDC will offer as many as 58 items, both vegetarian and non-vegetarian, from January 27.
- Union minister for culture and tourism Prahlad Patel said government is addressing the lack of adventure sports equipment in Kargil.
- In contrast to the violence seen in the Capital, farmers held peaceful rallies across the country to protest against the farm laws.
- India put on display its war machines at a time when the country is locked in a tense border stand-off with China.
- The chaos and violence have raised questions about the future of the two-month-long agitation of farm unions.
- Bangladesh Prime Minister Sheikh Hasina, in a letter sent to her Indian counterpart, conveyed her greetings.
- Tuesday's decision to operate all trains comes a day after a meeting to resume local train services for all passengers was chaired by Maharashtra chief minister Uddhav Thackeray.
- Khattar said that unsavoury events on Tuesday deserved to be condemned in the strongest words.