Taking on former Finance Minister #PChidambaram’s criticism of the state of the economy, Union Minister of State for Finance Anurag Thakur said that India’s economy is resilient and will rebound in the times ahead. via @tragicosmicomic
"Are you not aware that France, Germany, Italy, and U.K. contracted by 8.2%, 4.9%, 8.9% and 9.9%, respectively? Canada, Russia, South Africa, and U.S.A too have seen contraction in their GDP in the past year,” he said, referring to the 7.3% contraction in GDP in 2020-21.
“Consistent reforms have ensured strong fundamentals through these difficult times… (so) India had a swift rebound from a contraction of 24.4% in the 1st quarter of FY 2020-21 to a growth of 1.6% in the 4th quarter,” Mr. Thakur said,
#AnuragThakur said that it is evident that the ‘Lockdown saved lives and gradual unlocking allowed green shoots’ in the economy, as reflected in the record GST collections, growth in auto sales, steel, cement and international air cargo.
“The Index of Eight Core Industries grew 11.4% in March 2021 and a staggering 56.1% in April 2021… Steel and cement sectors grew 27.3% and 32.7%, respectively," the junior Finance Minister pointed out. via @tragicosmicomic
On the former FM’s advice to initiate cash transfers for helping the poor cope with the second wave, Mr Thakur cited the higher procurement of wheat, pulses and rice during the NDA’s tenure and said the Congress had misled farmers on the issue of agricultural laws
…The 8th instalment of #PMKisan via DBTs provided Rs 19,000 cr. directly to farmers. Does this not give the farmer “cash in hand”?” he said, asking Mr Chidambaram how many bank accounts were opened for the poor under the UPA. via @tragicosmicomic

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More from @the_hindu

3 Jun
Just in: India’s Services exports grew by 6.44% in May 2021 to $17.85 billion, while Services imports grew just 0.3% to $10 billion, as per initial estimates, Commerce Secretary Anup Wadhawan said on Thursday. | reports @tragicosmicomic
@tragicosmicomic Services trade has consequently recorded a 15.4% higher surplus in May 2021 over May 2020, he said. - reports @tragicosmicomic
@tragicosmicomic With merchandise exports rising 67% over last year as well as 8% over the pre-pandemic month of May 2019, Mr. Wadhawan said that there is a comprehensive recovery in India’s #exports over April and May. | via @tragicosmicomic
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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
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1 Jun
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
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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.
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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.
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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
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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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