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In a year marred by the pandemic and its adverse impact on the economy, Vedica has defied odds and completed another successful placement season. A highlight of this cycle was the onboarding of marquee companies like Goldman Sachs, upGrad, Epigamia, Genpact, Aditya Birla Capital, and Xiaomi to Vedica’s recruitment roster for the first time. ....
Elaborating on the implementation of the PMGKAY scheme, he said more than 63.67 lakh tonne foodgrains (around 80 per cent of total PMGKAY allocation for May and June 2021) have been lifted by states and UTs from FCI (Food Corporation of India) depot so far. ....
View: India s GDP growth numbers hide more than they reveal SECTIONS Last Updated: Jun 01, 2021, 11:26 PM IST Share Synopsis The economy sprang out of technical recession in Q3 FY2021, and expanded by a revised 0.5% after reporting two consecutive quarters of de-growth in the same fiscal. Also, the official GDP number underestimates the extent of the hit taken by the economy due to the pandemic. iStock Also surprising was the gross value added (GVA) number, rising by 3.7% in Q4, outpacing GDP growth significantly, owing to an unusually large spending on food subsidy in the quarter. Sachchidanand Shukla Economist, Mahindra & Mahindra Provisional estimates (PEs) for FY2021 GDP show that the economy contracted by 7.3%. This is slightly better than the 8% dip the Central Statistics Office (CSO) estimated in February. The Q4 GDP print, at 1.6%, turned out to be much better than the 1.1% contraction imputed using the full-year FY2021 print releas ....
The fiscal deficit for FY21, according to provisional estimates, was 9.3% of gross domestic product (GDP), lower than the governments revised estimate of 9.5% in the February budget. ....
Barring agriculture, which continued its stellar performance, growing at 3.6% in FY2021, and electricity that grew at 1.9%, every other sector contracted during the year. The contraction in trade (–18.2%), construction (–8.6%), mining (–8.5%) and manufacturing (–7.2%) is particularly ominous, as these account for the bulk of jobs, especially low-skilled ones. And especially since any hope that the contraction may prove a temporary setback has been scotched by the second wave of Covid in March. ....