India’s Gross Domestic Product (GDP) is estimated to grow by 9.2% in 2021-22 as against a contraction of 7.3% recorded in the previous year, government data showed on Friday.
GDP at Constant Prices (2011-12) in the year 2021-22 is estimated at Rs 147.54 lakh crore, as against the Provisional Estimate of GDP for the year 2020-21 of Rs 135.13 lakh crore, according to data released by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation. “However, these are early projections for 2021-22. Actual performance of various indicators, actual tax collections and expenditure incurred on subsidies in the following months, fresh relief measures for the vulnerable sections (such as providing free food grains which has now been extended till March 2022) and other measures, if any, taken by the Government to contain the spread of Covid-19 would have a bearing on subsequent revisions of these estimates,” the NSO said in a statement. The growth in nominal GDP during 2021-22 is estimated at 17.6%. Nominal GVA at Basic Prices is estimated at Rs 210.37 lakh crore in 2021-22, as against Rs 179.15 lakh crore in 2020-21, showing a growth of 17.4 percent.
Nominal GDP or GDP at Current Prices in the year 2021-22 is estimated at Rs 232.15 lakh crore, as against the Provisional Estimate of GDP for the year 2020-21 of Rs 197.46 lakh crore, released on May 31, 2021.
Actual figure for the first half of the current year has been officially released. The GDP expanded by 20.1% during the first quarter of the current financial year while it grew by 8.4% in the July-September 2021 quarter.
This is the First Advance Estimate of National Income for the financial year 2021-22. It was introduced in 2016-17 to serve as essential inputs to the Budget exercise.
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CONGRESS, LEFT LEADERS CONVERGE FOR RJD MEET
CPI ML, Congress, and Rashtriya Janata Dal leaders arrived at the residence of Rabri Devi, wife of party chief Lalu Prasad Yadav in Patna on Tuesday.
The meeting of the RJD convened by its leader Tejashwi Prasad Yadav, the son of Lalu Yadav also saw leaders of the Communist Party of India (CPI) and leaders of Congress who are part of Mahagathbandhan or the grand Opposition alliance in the state, according to Ajit Sharma, Congress Bihar legislature party leader.
The RJD leaders arriving for the meeting were asked to hand over their mobile phones ahead of the meeting
NITISH’S DECISION A GOOD START: AKHILESH
As Janata Dal (United) leader Nitish Kumar ended the alliance with BJP, Samajwadi Party (SP) chief Akhilesh Yadav on Tuesday termed the move as a “good start” towards taking a stand against BJP by political parties and people.
While talking to mediapersons in Kannauj, Uttar Pradesh, Yadav said, “It’s a good start. On this day, the slogan of ‘Angrezo Bharat Chhodo’ was given and today the slogan of ‘BJP Bhagaon’ is coming from Bihar. I think soon, political parties and people in different states will stand against BJP.”
Chirag Paswan seeks President’s Rule in Bihar
Lok Janshakti Party (Ram Vilas) leader Chirag Paswan on Tuesday demanded President’s rule in Bihar followed by fresh elections after Chief Minister Nitish Kumar resigned from his post and broke his alliance with Bhartiya Janata Party (BJP).
Hitting out at Kumar, Paswan said, “Today, the credibility of Kumar is zero”. He said that fresh assembly elections should be held to allow people to give a fresh mandate.
“We want President’s rule to be imposed in Bihar and the state should go for a fresh election. Do you (Kumar) have any ideology or not? In the next polls, Janata Dal (United) will get zero seats,” said Paswan.
BJP MEETING GOES IN VAIN
The meeting of the Bharatiya Janata Party over the rift in National Democratic Alliance concluded at the residence of Deputy Chief Minister Tarkishore Prasad in Patna on Tuesday.
But it was all in vain as Nitish Kumar resigned from the Chief Minister post and formed the new ‘Mahagathbandhan’ or Grand Alliance with Rashtriya Janata Dal (RJD).
After the meeting, party leaders Bhikhubhai Dalsaniya, Renu Devi, Mangal Pandey, Nitin Navin, Amrendra Pratap Singh, and Samrat Chaudhary left Prasad’s house.
Rumours of a growing rift between the BJP-JDU), that is, the NDA alliance in Bihar intensified after Kumar skipped a key meeting of the NITI Aayog, headed by Prime Minister.
A day-long political drama in Bihar
An intense war of words unleashed in the political arena following Nitish Kumar’s break up with BJP.
ALL JD(U) MEMBERS WANTED SPLIT WITH BJP: NITISH KUMAR
Janata Dal (United) leader Nitish Kumar on Tuesday said that all party MPs and MLAs, who attended the party meeting on Tuesday, were of opinion that the party should leave the BJP-led NDA alliance. “All MPs and MLAs reached a consensus that we should leave the NDA. Soon after, I resigned as Bihar CM,” Kumar told media persons here.
“Meeting with the MPs, MLAs and MLCs were held today. Everyone’s wish was that we should leave NDA. So as everyone wished, we accepted the same and I submitted the resignation from the post of the Chief Minister in the NDA government,” he added.
According to sources, many Janata Dal (United) legislators told Chief Minister Nitish Kumar in Tuesday’s meeting that the alliance with the Bhartiya Janata Party had weakened them since 2020.
Without naming Chirag Paswan, the legislators are reported to have recalled the actions of the former Lok Janshakti Party (LJP) chief during the 2020 state assembly polls while warning the CM that if they were not alert, it would not be good for the party. Paswan had fielded rebel BJP candidates on all seats fought by the JD(U) in the 2020 polls, in what some have alleged was part of a plot by the BJP to wedge its way into the ruling coalition in the state.
BJP DESTROYS PARTIES WITH WHOM IT FORMS ALLIANCE: TEJASHWI
Rashtriya Janata Dal (RJD) leader Tejashwi Yadav on Tuesday said that recent political history indicates that Bharatiya Janata Party (BJP) destroys parties with whom it forms alliances.
While addressing a joint presser with new ally Nitish Kumar, Yadav said, “Across the Hindi heartland, BJP does not have any alliance partner. History shows that the BJP destroys the parties with whom it forms alliances. We did see that happening in Punjab and Maharashtra.”
Yadav was accompanied by JD(U) leader and caretaker Chief Minister Kumar, who broke his alliance with the BJP and entered into a tie-up with RJD and some other parties.
“Today all parties and members of the Bihar Legislative Assembly except the BJP have accepted Nitish Kumar as their leader,” added Yadav. He said, “JP Nadda said they will end regional parties. BJP knows only to intimidate and buy people. All of us wanted the BJP’s agenda shouldn’t be implemented in Bihar, we all know Laluji stopped the ‘Rath’ of Advaniji, and we won’t relent at any cost.”
The JD(U) and RJD together constitute a majority in the 243-member state assembly. JD(U) has 45 and the RJD has 79 MLAs. They also have the support of smaller parties like Jitan Manjhi’s HAM. The BJP has 77 MLAs in the state assembly.
BIHAR BJP LEADERS SLAM NITISH, SAY IT’S BETRAYAL
Right after Nitish Kumar chose to resign as Bihar Chief Minister, the Bihar BJP expressed dissatisfaction and said that JD(U) had betrayed Bihar and the people’s mandate.
Addressing a press conference on Tuesday, BJP leader Ravi Shankar Prasad lashed out at Kumar for breaking aliance between their parties and staking claim to form government with RJD support saying he had “disrespected the mandate given by the people of Bihar. Addressing a short presser in Patna, Prasad said, “Kumar has left and said that BJP was trying to destroy his party…BJP made him a union minister several times. He was also made a Chief Minister. Why did he re-think his decision on alliance with RJD in 2015 and come to BJP in 2017?.” “Kumar is disrespecting the mandate of Bihar’s people. It’s a baseless allegation that BJP was trying to destroy JD(U),” said the former union minister.
Bihar BJP chief Sanjay Jaiswal said, “In the 2020 Bihar assembly elections, all of us contested under the NDA alliance and the majority and mandate was given by the people to JDU and BJP. However, as on date, Nitish played with the public mandate. JD(U) betrayed Bihar.”
“We were successful in winning 74 seats, but we fulfilled the promise made by the Prime Minister and Kumar became the Chief Minister of this NDA alliance. However, whatever happened today is a betrayal of the people of Bihar and the BJP,” he said.
Union Minister and BJP leader R.K. Singh raised questions over the political moves of Kumar asking how the JD(U) leader would justify an alliance with the Rashtriya Janata Dal (RJD) which he has often called “corrupt”.
“Fifteen years of RJD rule took the state backwards. Kumar also said this multiple times. How will he justify entering into an alliance with the RJD whom he said is corrupt? All of this is politics for power. There is no morality and he should be ashamed,” Singh, who hails from Bihar, told ANI.
However, a BJP leader has contradictory views. Union Minister Kaushal Kishor said that the BJP wants Kumar to continue as chief minister of the state.
Rumours of a growing rift between the BJP-JDU in the NDA alliance in Bihar intensified after Kumar skipped a key meeting of the NITI Aayog, headed by Prime Minister Narendra Modi, on Sunday and JD(U) leader RCP Singh tendered his resignation from the party. Singh, once considered a close aide of Kumar had announced his exit from the party after being served a notice seeking an explanation on allegations of corruption. However, BJP leaders have dismissed any estrangement with the JD(U). “Certainly the government under the leadership of Kumar will run firmly with the BJP alliance. As far as I’m concerned and if there was such a thing, it would depend on the time and circumstances,” said Kishor.
“I do not want to wish to comment over the political situations in Bihar, but there is no such attempt from the BJP which would have raised any dispute or confusion. JDU will take its call as per its ongoing meeting, but it is to underscore that the BJP definitely wants Kumar to continue as the CM of the state,” he said. Kishor said that the coalition government, comprising BJP, JDU, and all others, in the state will work more strongly for the welfare of Bihar and the countrypersons.
The Current Financial Climate Around the World
The economy is volatile, but many people are finding ways to profit from these conditions. I decided to write an article about how the global foreign exchange can support your investments in this challenging time. I have made a point of looking into different opportunities and following up with my research. In addition to helping you access an emerging market currency (not to mention other things such as commodities), the foreign exchange gives you exposure to many more investment opportunities than your typical stock/bond investments would. For example, imagine taking advantage of an interest rate hike in your home country and buying shares in some companies in a country like India or China. You need a strong, diversified investment portfolio that includes stocks and bonds in both developed and emerging countries. It means a higher risk, but a better return. Before you start making these changes, make sure you’ve got the necessary resources. It can be difficult to do this right now, so I recommend working with someone who can help manage your money.
An excellent way for anyone to profit from the current economic situation is by focusing on the underlying factors behind the movement. When trading currency, this usually involves analyzing and understanding the economy, which can often be easier to know when you’re doing it for the first time. Forex traders often forget to consider the fundamental economic factors, especially where a country is concerned. While many investors focus on the short-term dynamics of currencies, they often miss the bigger picture of the economy. This is particularly true for those looking to invest in emerging markets. The more you know about the fundamentals driving the currency value of your portfolio, the more likely you will be able to ride out the ups and downs of the stock market without too much trouble. While many people can take advantage of rising oil prices or even look forward to cheaper goods in the future, there are also those who believe the price of gas, electricity, and food will rise significantly. These investors are willing to invest in the future based on their expectations. As such, it’s important you consider the potential effects these fundamentals could have on your portfolio, especially if you’re looking to invest in emerging markets. Take some time to think about your personal finances, your investment goals, and where your portfolio might be heading over the next couple of years. Then, you’re ready to begin figuring out which currencies and investment opportunities might work well for your portfolio.
Currency is one of the most volatile assets available to investors. What do I mean by this? Well, let me explain. A currency is just an object used in international trade and commerce. They are traded between different countries by their governments and national banks, and their value changes based on a variety of factors such as interest rates, foreign exchange rates, population growth, inflation rates, etc. When a currency appreciates or depreciates, this is due to factors such as a strong country or a weak one. However, because of the sheer number of countries with many currencies floating around, there is a lot of volatility in the market.
Forex trading can be very rewarding. Leverage is a term used to describe an investor’s ability to increase their investments in order to gain more profit. There are two types of leverage: margin and synthetic leverage. Margin refers to the use of borrowed funds to buy and sell securities. Synthetic leverages are simply the creation of artificial leverage by using certain strategies such as day trading or hedging. When doing FX trading, you’ll often find yourself in situations where you’re forced to use the dollar as an instrument. This is referred to as dollar-driven leverage, and it can be very difficult to manage. Just how much can an individual use? Traders often use a large amount of margin in order to take advantage of rising currency values. If you’re looking to use this type of leverage, it’s best to seek advice from a professional Forex trader. In some cases, you may need to borrow money in order to do your own trades. You can do this by having a broker handle all your transactions for you.
One of the more popular ways for people to profit from the current financial climate is through currency trading. Many people believe that they must wait until the market is absolutely bearish before they can start making money. The truth is that there are plenty of opportunities for traders right now. Unfortunately, some people believe that currency trading is only for serious investors. That’s not true at all.
In conclusion, there are lots of reasons why you should consider investing in Forex currency trading. If you’re looking for a quick way to get started with the world of currency trading, then I highly recommend trying out some demo accounts. As mentioned above, you may find yourself in situations where you’re forced to use the dollar as an instrument. But don’t worry; it’s easy to get through these types of scenarios and still find success in trading. Good luck!
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