GDP Plunges by Record 23.9% in Q1 as India Enters Recession, Contraction Worst Among G20 Nations
India has officially entered a phase of recession, with GDP data released on Monday showing a collapse of 23.9 per cent of gross domestic product in the second quarter, as the Indian economy was weighed down by the coronavirus pandemic and the severest of lockdowns that led to halt in business activities and a sharp fall in consumer demand. The National Statistical Office (NSO) said GDP contraction in the April-June period of FY21 was the largest slump on record since India started reporting quarterly data in 1996. The fall in output compares to 3.1 per cent growth in the previous quarter, which was the worst performance in at least eight years.
Former President Pranab Mukherjee Dies at 84, Funeral Tomorrow Amid Covid-19 Protocols
Former president Pranab Mukherjee, one of India's most respected leaders across the political spectrum, died on Monday evening following a 21-day battle with multiple ailments. He was 84. Mukherjee, who was admitted to the Army's Research and Referral Hospital on August 10 and was operated for a removal of a clot in the brain the same day, is survived by two sons and a daughter. The long-time Congress leader had tested positive for COVID-19 at the time of his admission and was being treated for a lung infection. He suffered a septic shock on Sunday and died of a cardiac arrest at 4.30 pm, the hospital said.
In Other News
Contempt case: Activist lawyer Prashant Bhushan said that he will submit the token fine of Re 1 imposed by the Supreme Court in the contempt case for his tweets against the judiciary, but also indicated he would file a review plea against the order.
Face-off: In a further escalation of the ongoing military confrontation between India and China in eastern Ladakh, the Chinese People Liberation Army carried out "provocative military movements" to "unilaterally" change the status quo on the southern bank of Pangong Tso but the attempt was thwarted by the Indian troops.
COVID-19 numbers: With over 10,600 new coronavirus cases, Andhra Pradesh overtook Tamil Nadu and became the second worst-hit state in India after Maharashtra. For health officials, this is an alarming development. While Andhra Pradesh has undertaken the maximum number of tests per million population, its positivity rate is also climbing.
Facebook controversy: The Congress demanded a joint parliamentary committee probe into Facebook, following the latest report in a ‘credible international media’ exposing Facebook India’s alleged bias for the ruling Bhartiya Janata Party. The party intensified its attack on the social media platform seeking a suspension of all pending licenses and approvals, pending an investigation.
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Reality check: It’s Anand Sharma’s association with the Gandhis that he has often flaunted and that he had to showcase once again at the stormy Congress Working Committee meeting last week. Like Pranab Mukherjee, Sharma is known for his meticulous notes and elephant memory, skills that for long made him an asset for Sonia Gandhi. But, as he breaks down while talking to Pallavi Ghosh, Sharma is forced to remind the party of his worth. And that it’s time for the Congress to wake up now.
Layers within layers: When we learnt about Constitution in high school, we understood that any aspect of law has to be in its letter and spirit. But the jurisprudence on Constitutional framework on reservations, as it evolved ever since the first anti-reservation judgment in 1951 by a full-court of the Supreme Court in The State Of Madras vs Srimathi Champakam Dorairajan Case, our courts have started limiting interpretations to certain words of an Article, than the idea of the whole Constitutional framework, Rehnamol Raveendran writes.
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