The unemployment rate in the country has increased once again. It stood at 7.45 percent in February, which was 7.14 percent in January. The Center for Monitoring in Indian Economy (CMIE) said that there has been more unemployment in cities than in villages. Unemployment has been 7.23 percent in villages and 7.93 percent in cities. According to the data, however, the unemployment rate in cities declined to 7.93 percent from 8.55 percent in January. In villages, it has increased from 6.48 percent to 7.23 percent. The highest unemployment rate in February was on February 18, which was 7.84 percent. 29.4% unemployment rate in Haryana and 4% in UP According to the data, the unemployment rate in Haryana is 29.4%, while it is 17.1% in Jammu & Kashmir, 28.3% in Rajasthan, 13.9% in Himachal and 12.3% in Bihar. Uttarakhand has a 2.3% unemployment rate, UP has four, MP has two and Chhattisgarh has the lowest unemployment rate of 0.8%.
Revision of figures led to a decline in manufacturing and consumption
India's Chief Economic Advisor (CEA) V Ananth Nageswaran on Wednesday said that the performance of the manufacturing sector and private consumption expenditure in the December quarter of 2022-23 looks subdued due to the high base effect. He said the base of GDP growth had been increased by the revision of the figures of the last three financial years. The National Statistical Office on Tuesday revised the GDP growth rate data for the last three financial years 2019-20, 2020-21, and 2021-22. Also released the second advance estimate of GDP for 2022-23. He said that if the base effect had not increased, manufacturing would have grown by 3.8 percent and private consumption expenditure by 6 percent in the December quarter.
The growth rate will be 5.5% in 2023-24
Moody's on Wednesday raised the country's economic growth forecast. It said the GDP growth rate in 2023-24 could be 5.5 percent. Earlier 4.8 percent was estimated.
Axis buys Citibank's retail business
Citibank's retail business in India has now been merged with Axis Bank. The deal has been done for 11,603 crores. Citibank's retail business includes credit cards, personal and home loans, retail banking, insurance services, and others. From now on all the services related to retail business including all branches, and ATMs will be provided through Axis Bank. All customers and employees associated with this business will also become part of Axis. Citibank India's 30 lakh customers and 3,200 employees will also become Axis.
Petrol-diesel: up to 13 percent increase in demand
After a decline in winter, there was a sharp increase in the demand for petrol-diesel (fuel) in February 2023. Petrol sales rose 12 percent year-on-year to 2.57 million tonnes in February. Sales are 1.57% higher as compared to the same month of Covid affected 2021. Diesel sales rose 13% to 6.52 million tonnes in February. Aviation fuel (ATF) demand increased by 41.3 percent year-on-year to reach 5,74,200 tonnes. Cooking gas (LPG) sales increased by 2.43 percent to reach 2.53 million tonnes.
Electricity consumption: increased by more than 9% to 117.84 billion units
Electricity consumption in the country increased by more than 9 percent year-on-year to reach 117.84 billion units in February 2023. This increase indicates a faster pick-up in economic activity in February. Electricity consumption in February 2022 was 108.03 billion units. In February 2023, the maximum demand increased to 209.66 GW in a single day.
Congress Vs BJP: Amit Shah told the achievements of NDA, saying- this is the golden period of public service, Congress raised questions
On the completion of 11 years of the NDA government, Union Home Minister Amit Shah on Monday talked about the achievements. He said that the 11-year tenure of the Modi government was a golden period
'Such incidents will not stop, India should support us...', Baloch Human Rights Council's open threat to Pakistan.
A few days ago, a train hijack incident took place in Balochistan, a terror-hit Pakistan. Baloch rebels hijacked the Jaffar Express train. There were 440 passengers on the train.
Ayodhya: Ram temple will be protected from all three sides, water, land, and sky, Rs 38 crore will be spent on a security plan
About 38 crore rupees will be spent on the security plan of the temple of Ramlala. The funds have been approved and the responsibility of construction has been handed over to UP Nirman Nigam. Its DPR
Stampede in Maha Kumbh: CM Yogi held a meeting with officers, senior officers will visit the spot, and some may face action.
Chief Minister Yogi Adityanath and prominent saints have issued an appeal to the devotees who have come to take a holy dip in Sangam on the holy bathing festival of Mauni Amavasya. Chief Minister Yogi
'Petitions against Waqf Act are for vote bank', BJP calls protesters anti-constitutional
The BJP on Monday slammed several PILs challenging the new Waqf Act, terming them vote bank interest litigations. BJP spokesperson Shehzad Poonawalla claimed that the petitions filed in the Supreme
Biparjoy: Weather hits flights, fury among people; Alert in six districts of Saurashtra-Kutch
Once again the threat of cyclonic storm 'Biparjoy' is looming large in the coastal areas. If the Meteorological Department is to be believed, Biparjoy has taken an even more terrifying form tomorrow.
PM Modi: PM Modi spoke to the Prime Minister of Australia, and many issues including Quad were discussed
Prime Minister Narendra Modi spoke to Australian Prime Minister Anthony Albanese soon after his Europe tour. The two leaders took stock of the progress in their bilateral relations and cooperation on
Mumbai Storm: Death toll due to hoarding collapse rises to 14, one in critical condition; 43 injured are undergoing treatment
The death toll from the collapse of a 100-foot-tall hoarding in Mumbai\'s Ghatkopar due to the storm has increased to 14. According to Brihanmumbai Municipal Corporation, 43 injured are currently
'Sanatana Dharma Certificate is needed because...' What demand did Pawan Kalyan put forward on the purity of Prasad across the country?
Andhra Pradesh Deputy Chief Minister Pawan Kalyan continuously attacks Jagan Mohan Reddy's previous government over the Tirupati Balaji Laddu controversy. He has said that he is earnest about the
IPL 2023: Ben Stokes increased the difficulties of MS Dhoni, CSK will not like this decision of the English all-rounder
The stage is all set for IPL 2023. From March 31, an exciting brawl between 10 teams is about to begin. Four-time champions Chennai Super Kings have made a big deal in the auction this time and have
