GDP growth slows to a 11 year low of 4.2%, Q4 slumps to 3.1%
- India’s real GDP growth rate slowed to 3.1% for the fourth quarter of FY 2020. Nominal GDP growth rate, at 7.5%, saw a marginal improvement compared to the previous quarter.
- “Agriculture and government expenditure have been the saviours,” said Devendra Pant, chief economist at the
Fitch Group’s India Ratings.
- Agricultural output and the mining sector picked up steam in the fourth quarter, growing at rates of 5.9% and 5.2% respectively, even while manufacturing contracted further, with output shrinking by 1.4%. Public administration, defence and other services grew at 10.1%.
Punjab govt. increases fines for norms violation
- Mr. Sidhu said now a ₹500 penalty will be imposed for not wearing a mask in public places, which was earlier ₹200, while a ₹2,000 penalty will be imposed for violating the home quarantine instructions which was previously ₹500. For spitting in public places, the fine will be ₹500, which was ₹100 earlier.
- He said non-payment of fine by the violator will attract legal action under Section 188 of the IPC as per regulations framed under the Epidemic Disease Act, 1897.
‘Didn’t cap N95 prices to prevent mass buying’
- The Centre on Friday informed the Bombay High Court in an affidavit that it decided not to regulate the price of N95 masks to prevent mass buying of the protective gear used by healthcare workers.
- Mr. Desai had told the court there was a shortage of masks owing to the lockdown and rise in cases. He said the price of the masks has to be capped to make sure they are not hoarded by black marketeers.
Ajit Jogi, first CM of Chhattisgarh, dead
- Former Chhattisgarh Chief Minister Ajit Jogi, 74, died on Friday after being hospitalised in Raipur following a heart attack.
- The former bureaucrat turned politician, who was the incumbent MLA from the Marwahi seat, was the first chief minister of Chhattisgarh after it was carved out of Madhya Pradesh as a separate State in November 2000.