Indian economy in +ve zone, grows 0.4%

The road to recovery appears to be in sight for the Indian economy, with the country’s gross domestic product growing by 40 basis points or 0.40 per cent in the OctoberDecember

quarter. The size of the economy had shrunk in the April-June quarter and July-September quarter, pulling down the country into a technician recession.

However, the positive growth — though not very strong yet — has taken the Indian economy out of the recession.

A consistent growth in consumer demand, festive spends and a jump in government expenditure appear to have supported the Covid-battered economy to spring back into the positive territory. The expenditure trend, however, remains weak as government and private consumption expenditure continued to contract in the third quarter.

“The GDP at constant (201112) prices in Q3 of 2020-21 is estimated at Rs 36.22 lakh crore, as against Rs 36.08 lakh crore in Q3 of 2019-20, showing a growth of 0.4 per cent," data released by the ministry of statistics and programme implementation showed on Friday.

The Indian economy had grown at the rate of 4.7 per cent in the same quarter last year. According to the data released by the National Statistical Office (NSO), the farm sector recorded a growth of 3.9 per cent, and the manufacturing sector output grew by 1.6 per cent. The construction sector advanced by 6.2 per cent, while electricity, gas, water supply and other utility services clocked a 7.3 per cent growth.

Trade, hotels, transport, communications and services related to broadcasting continued to bore the brunt of postCovid consumer behaviour.

Ahmedabad, Feb. 26: Campaigning for polls to various local bodies of Gujarat ended on Friday evening with voting scheduled for February

28. Counting of votes for elections to 81 municipalities, 31 district panchayats and 231 taluka panchayats will take place on March 2, a release by the State Election Commission said.

While the BJP is riding high after winning all six civic corporation polls held recently, the Congress believes the hike in fuel prices and public disenchantment with the ruling party will turn the tide.

On the last day of campaigning, Gujarat BJP president C R Paatil led a road show in Navsari, while Leader of Opposition in the Assembly, Paresh Dhanani, took part in a motorcycle rally in Amreli.

Aam Aadmi Party head and Delhi chief minister Arvind Kejriwal sought votes during a road show in Surat.

For the first time, the All India Majlis-e-Ittehad-ulMuslimeen has fielded candidates in minority-dominated seats in Godhra, Modasa and Bharuch municipalities, with party chief Asaduddin Owaisi holding public gatherings in Modasa and Godhra two days ago.

State Director General of Police Ashish Bhatia said over

44,000 policemen, including State Reserve Police and 12 companies of CAPF, along with 54,000 homeguards will be deployed on February 28 to ensure incident-free voting in

23,000 booths.