Just in: State Bank of India has downgraded its growth projections for this year from 10.4% to 7.9%, with an upward bias linked to the 'fervent hope of 1 crore #vaccinations per day beginning mid-July as per Government projections'. | reports @tragicosmicomic
@tragicosmicomic India's #economic recovery will now be 'W-shaped' instead of the 'V-shaped recovery' anticipated earlier. | via @tragicosmicomic
@tragicosmicomic This #GDP projection assumes a real GDP loss of Rs.4.2 lakh crore, a normal situation post-July and the possibility of no third wave. | @tragicosmicomic
@tragicosmicomic #SBI expects a 'disproportionately larger impact' on the economy from the second #COVID19 wave, especially since rural #India is not as resilient as urban India. - reports @tragicosmicomic
@tragicosmicomic "The pick up in pent-up demand is unlikely to make a large difference in FY22 GDP estimates, and hence it could only be a modest pick up," the group's chief economic advisor Soumya Kanti Ghosh said in a report. | via @tragicosmicomic

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More from @the_hindu

1 Jun
"There are no surprises in the 10-page Press Note issued by the National Statistical Office on the provisional estimates of Annual National Income for 2020-21," said Former union minister P. Chidambaram at a press conference on #GDP numbers. | reports @fewcan
@fewcan 2020-21 has been the darkest year of the economy in four decades. The performance in the four quarters of 2020-21 tells the story, Mr. Chidambaram said. | reports @fewcan
@fewcan Mr. Chidambaram said, "When the first wave of the pandemic appeared to subside last year, the Finance Minister and her Chief Economic Adviser began to sell the story of a recovery. They saw “green shoots” when no one else did. | reports @fewcan
Read 10 tweets
31 May
Just in | Output from India's eight core sectors surged by 56.1% in April, from a year ago, as per data released on Monday. The high growth number is driven by the low industrial production across all sectors caused by the nationwide lockdown. #Industry
- @tragicosmicomic
Just in | On a month-on-month basis, core sectors' output fell by 15.1% in April over March 2021, thanks to the emergence of the second wave of the #pandemic.
- @tragicosmicomic
Just in | IThe #GDP contracted 7.3% in 2020-21, as per provisional National Income estimates released by the National Statistical Office, marginally better than the 8% contraction projected earlier. In 2019-20, India had clocked 4% GDP growth.
- @tragicosmicomic
Read 8 tweets
31 May
Just in | The Department of Personnel and Training (#DoPT) served a show-cause notice to #WestBengal Chief Secretary Alapan Bandyopadhyay after the officer failed to report to the central office on Monday, a senior government official said.
- @vijaita
Just in | Centre government gave us a letter(on Chief Secretary Alapan Bandyophyay) and it was our duty to reply. There is nothing in our hands now, said Chief Minister #MamataBanerjee.
- @shivsahays
Just in | I have never seen such a heartless Prime Minister and Home Minister. Instead of respecting the federal structure, they have added insult to the injury. No consultation with State, only political vendetta: #MamataBanerjee
- @shivsahays
Read 5 tweets
30 May
Explained | A serological survey is conducted to assess the prevalence of a disease in a population. It is done by detecting the presence of specific antibodies that are produced against the #virus.

Read more about serology surveys in the thread below:

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Why are serology surveys important?

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How many serology surveys have been conducted so far?

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Read 5 tweets
30 May
Subodh Kumar Jaiswal, a 1985-batch IPS officer, took charge as the CBI Director on May 26, 2021. He brings along a unique mix of experience in the field of spycraft, investigation and administrative supervision.

Read more about Mr. Jaiswal in the thread below:

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Subodh Kumar Jaiswal has been busy holding back-to-back meetings with senior officials of various departments to get a feel of the challenges lying ahead of him over the next two years. This is his first stint with the agency.

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Mr. Jaiswal had served as Superintendent of Police in Gadchiroli, Aurangabad and Osmanabad, and supervised several anti-naxal operations.

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Read 7 tweets
26 Apr
A patient seen with oxygen cylinder waiting outside LNJP hospital for admission. Photo: Sushil Kumar Verma

Here are all the latest updates related to the pandemic: thehindu.com/news/national/… Image
The peaks in at least 6 major states, with high number of cases, are bigger than their previous peaks in first wave. This is a matter of concern: Lav Agrawal

Live updates: thehindu.com/news/national/…
9,103 tons of oxygen has been produced. Our normal capacity is 7259. We have gradually increased to these levels: Home Ministry officials

Live updates: thehindu.com/news/national/…
Read 5 tweets

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