Omicron may be less severe risk: FinMin
The Hindu
Ministry see recovery strengthening in second half, says fuel tax cuts to help dampen inflation
India’s economic recovery is expected to gain further strength in the second half of this fiscal year, following the 8.4% GDP growth recorded in Q2, the Finance Ministry said on Saturday, citing preliminary evidence that the Omicron coronavirus variant may be a ‘less severe’ risk.
Stressing that India was one of the few countries to record four consecutive quarters of growth amid COVID-19, the ministry said the country would catch up with pre-pandemic levels of economic activity over the full year 2021-22.
A revival in services combined with a full recovery in manufacturing and sustained growth in the agriculture sector helped take GDP output in the second quarter to more than 100% of the pre-pandemic levels in 2019-20, the Department of Economic Affairs (DEA) said in its monthly economic review for November.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
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Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
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Suzlon announces three new AI-enabled smart blade factories, expanding its manufacturing footprint to 20 facilities in India.
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