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.
Sandeshkhali Row: Suvendu Adhikari and Vrinda Karat stopped from going to Sandeshkhali, BJP leaders sitting on dharna in the middle of the road
The political atmosphere is heated regarding the Sandeshkhali violence. The ruling party and the opposition are continuously accusing each other in this matter. Meanwhile, BJP leader Suvendu Adhikari
Made In Heaven Season 2: Mona Singh's entry in 'Made in Heaven Season 2', the series will be released on OTT on this day
The first season of the popular web series 'Made in Heaven' premiered in 2019. The audience liked it very much. Now the fans are eagerly waiting for the season 2 update. Earlier this month, the second
Kuch Khattaa Ho Jaay Box Office Day 1: Guru Randhawa-Sai Manjrekar's film flopped on the first day, account opened with so many lakhs
Kuch Khatta Ho Jaay Box Office Collection Day 1: Every week some film or the other hits the theatres. This week, famous singer Guru Randhawa and actress Saiee Manjrekar's film Kuch Khatta Ho Jaye was
Fifa Awards 2023: Lionel Messi became the best player of the year, and Aitana Bonmati won the award among women.
Argentine superstar Lionel Messi has won the FIFA Best Men's Player award for the third time in the last four years. He left Norwegian striker Erling Haaland behind in a close contest. Whereas, among
Arvind Kejriwal: Kejriwal again reached the High Court against ED, and said- ready to appear if assured not arrested him.
Delhi Chief Minister Arvind Kejriwal has filed a fresh petition in the Delhi High Court demanding no punitive action against him. A division bench led by Justice Suresh Kumar Kait will hear the case
RR vs GT Playing 11: Gujarat Titans will come out to equalize the previous defeat, knowing the playing-11 of the teams
RR vs GT Playing 11 IPL 2023. The finalist teams of IPL 2022 Gujarat Titans and Rajasthan Royals are also looking in great rhythm in the 16th season of IPL. Rajasthan Royals are currently in the
PM Modi said at Semicon India Conference 2023 – India's electronics production crossed $ 100 billion
Prime Minister Narendra Modi (PM Modi) on Friday addressed the Semicon India Conference 2023 in Gandhinagar, Gujarat. During this, he appealed to the people to visit the Semicon India 2023 exhibition.
Sri Lanka bags $2.9 billion IMF deal after China's support, President Ranil Wickremesinghe informed
Sri Lanka, which is facing a financial crisis, needs a conditional International Monetary Fund (IMF) package of $ 2.9 billion. Breaking the biggest hurdle to achieve this, China has assured to help
Tillu Tajpuriya: Eight Tihar Jail personnel suspended in Tillu murder case, CCTV footage leak to be probed
In the Tillu Tajpuria murder case, the prison administration has suspended eight prison personnel on charges of negligence, while writing a letter to the commandant there to take action against nine
Tillu Tajpuriya: Gangster Tillu Tajpuriya, lodged in Delhi's Tihar Jail, attacked, died in DDU Hospital
On Tuesday, there was a clash between the prisoners in the number-9 of Tihar Jail located in the national capital Delhi. In this, gangster Sunil alias Tillu Tajpuria, accused in the Rohini court