Highlights: India's FY24 fiscal deficit lower than full-year target, shows data

India GDP data release updates: Catch all the news updates on the release of India's Q4 GDP data here

10:33 PM

Man arrested from UP for making threat call to blow up Taj Hotel, airport

A caller who recently threatened to bomb the airport and Taj Hotel in Mumbai has been arrested from Uttar Pradesh, police said on Friday.

 

The accused has been identified as Arvind Rajput.

 

Police said that the motive behind the threat is yet to be ascertained.

 

"His mobile phone has been seized," police said.

 

Further investigation is underway.

 

Mumbai Police on Monday said that it received a threat call in which a caller mentioned that bombs had been placed at the Taj Hotel and at Chhatrapati Shivaji Maharaj International Airport in the city.

 

Police carried out searches at the premises but nothing suspicious was found.

9:12 PM

Global news: Sri Lanka decides to defer debt payments until 2027, says President Wickremesinghe

Sri Lankan President Ranil Wickremesinghe has said that a strategic decision has been made to defer debt payments until 2027 and focus on renegotiating repayment terms to extend until 2042.

 

The island nation, in April 2022, declared its first-ever sovereign default since gaining independence from Britain in 1948. The unprecedented financial crisis led President Wickremesinghe's predecessor Gotabaya Rajapaksa to quit office in 2022.

 

7:48 PM

GDP data updates: Growth momentum to continue in Modi 3.0, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Friday termed 8.2 per cent GDP growth in 2023-24 as 'remarkable' and said the growth momentum will continue in the "third term of the Modi Government". Today's GDP data showcases robust economic growth with a growth rate of 8.2 per cent for FY 2023-24 and 7.8 per cent for the fourth or March quarter of FY 2023-24. "This remarkable GDP growth rate is the highest among the major economies of the world," Sitharaman said in a post on X. She said the manufacturing sector witnessed a significant growth of 9.9 per cent in 2023-24, highlighting the success of the Modi government's efforts for the sector.

6:33 PM

13 poll personnel in UP's Mirzapur die following fever, high BP; exact reason being ascertained: Official

13 poll personnel in UP's Mirzapur die following fever and high BP; exact reason being ascertained, said medical college principal Raj Bahadur Kamal

6:09 PM

Fiscal deficit for 2023-24 at 5.63% of GDP against revised estimate of 5.8%, says govt data

Fiscal deficit for 2023-24 at 5.63% of GDP against revised estimate of 5.8%, said govt data.

6:06 PM

India's forex reserves drop by $2 bln to $646.67 bln

India's forex reserves dropped by $2.027 billion to $646.673 billion for the week ended May 24, the Reserve Bank said on Friday.In the previous reporting week, the kitty had reached an all-time high of $648.7 billion after a jump of $4.549 billion. For the week ended May 24, foreign currency assets, a major component of the reserves, decreased by $1.51 billion to $567.499 billion, the data released on Friday showed.

5:59 PM

India's fiscal deficit in FY24 recorded 95.3% of the target

India's fiscal deficit in the financial year ended March 31 was 95.3% of the target, data showed on Friday.

5:55 PM

Adani Ports signs a 30-year concession pact to operate a terminal at Dar es Salaam Port in Tanzania

Adani Ports signs a 30-year concession pact to operate a terminal at Dar es Salaam Port in Tanzania, said company in a statement.

5:20 PM

Eight key infra sectors growth rises to 6.2 pc in April

Eight key infrastructure sectors' growth rose to 6.2 per cent in April on healthy expansion in the production of natural gas, refinery products and electricity, according to official data released on Friday. The production of eight sectors grew by 6 per cent in March. The growth of these core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.6 per cent in April 2023. The official data showed that fertiliser output recorded negative growth in April.

5:18 PM

India's economic growth in Q1 FY24

In the first quarter of FY24, India's GDP rose by 7.8 per cent. The economy benefited from the front-loading of capital expenditure (capex) by the Centre and a pick-up in demand after two consecutive weak quarters.

5:12 PM

Capital formation is expected to remain robust: Madan Sabnavis, chief economist, Bank of Baroda

“Supported by the central government and state governments as they look to complete the investment cycle, capital formation is expected to remain robust. Also, there are signs of green shoots in private capex as well. Overall, investment in Q4 is expected to remain robust and lead overall growth to 7.2 per cent in Q4,” said Madan Sabnavis, chief economist, Bank of Baroda.

4:39 PM

What was India's economic growth in Q2 FY24?

India's GDP registered a 7.6 per cent growth rate in the July-September quarter of FY24. This marked a rise from the 6.2 per cent growth rate in the same quarter the previous year and also surpassed the projections made by the RBI's Monetary Policy Committee (MPC).

4:28 PM

What was India's growth rate in Q3 of FY24?

India's GDP growth rate for the third quarter of FY24 was at 8.4 per cent. This figure significantly exceeded the RBI estimate of 6.5 per cent, as reported by the National Statistical Office (NSO) of MoSPI.

4:24 PM

GDP expansion will moderate to a four-quarter low 6.7 per cent in Q4: Chief economist at ICRA Ratings

“Some listed FMCG players pointed to recovery in the rural economy, particularly in the non-food segment, in Q4. This can be partly attributed to the uptick in demand during the marriage season as well as a low base. Additionally, urban consumption is expected to have remained robust, albeit uneven. It is projected that GDP expansion will moderate to a four-quarter low 6.7 per cent in Q4,” Aditi Nayar, chief economist at ICRA Ratings, said.

4:15 PM

Growth would moderate to 7.1 per cent in Q4: IDFC Bank chief economist

“In Q4, some signs of recovery are visible in rural demand with fast-moving consumer goods sales growth (volumes) in rural areas exceeding those in urban areas for the first time in two years. Two-wheeler sales growth remains strong for the second consecutive quarter. However, urban consumption, which has been the key support for private consumption, remains mixed in Q4, with slowdown in FMCG sales growth (volume). That said, other indicators have held up, such as passenger-vehicle sales, luxury items and electronic payments indicators. Our estimate is that growth would moderate to 7.1 per cent in Q4,” said Gaura Sen Gupta, chief economist, IDFC Bank.

 

3:51 PM

Q4 GDP data LIVE updates: Reserve Bank of India's GDP predictions

According to RBI's projections, the Indian economy will grow at 7 per cent in the current financial year, maintaining its position as the fastest-growing major economy globally. This growth is supported by the sustained strengthening of macroeconomic fundamentals. The RBI has forecast a 6.9 per cent growth in real GDP for Q4FY24 in its monetary policy meeting in April.

3:46 PM

Q4 GDP data LIVE updates: Growth in manufacturing could moderate in Q4, says India Ratings analyst

“Though growth in manufacturing is expected to moderate in Q4, it will still be high,” said Paras Jasrai, senior economic analyst, India Ratings. “It is being led primarily by strong growth in companies’ profits due to still prevailing low commodity prices. However, lower growth in manufacturing IIP (index of industrial production) volumes suggests growth in manufacturing GVA (gross value added) is likely to have eased in Q4. Overall, it is expected growth would have eased to 6.2 per cent in Q4,” said Jasrai. 

 

3:42 PM

Q4 GDP LIVE updates: India's GDP growth in Q4 likely slowed to at least a four-quarter low

Analysts have forecast that India's economic growth could moderate to at least a four-quarter low in the March quarter of FY24 due to a sequential slowdown in key growth drivers. Read here for more details.

3:29 PM

Five people dead in Uttar Pradesh because of difficult weather conditions

Five people including two minors were killed in separate incidents caused by the adverse weather conditions in Uttar Pradesh in the last 24 hours, police said.

According to police, three people were killed in Shahjahanpur after a temporary shed fell on them due to strong winds, while two people allegedly died due to heat stroke.

3:08 PM

Karnataka HC adjourns hearing on plea filed by HD Revanna till June 3

The Karnataka High Court today adjourned the hearing on the plea filed by Prajwal Revanna's father and lawmaker HD Revanna for quashing of an FIR related to a kidnapping case until June 3. The case is filed in KR Nagara police station against HD Revanna and others for the abduction of a victim of sexual assault by Prajwal Revanna.

3:05 PM

Fugitive gangster Himanshu Bhau's associate detained in US

An alleged associate of fugitive gangster Himanshu Bhau has been detained by agencies in the United States, officials said on Friday. The agencies are trying to ascertain the identity of the detained man before any move for his return to India is initiated, they added. It is suspected that Sahil Kumar, who allegedly runs an extortion racket with Bhau from abroad and is wanted by the Haryana Police in a number of cases, has been detained by the US authorities,

2:53 PM

Delhi HC dismisses plea seeking reasons from SC collegium on judges' appointment

The Delhi High Court has dismissed with costs of Rs 25,000 a petition seeking a direction to the Supreme Court collegium to provide detailed reasons while refusing to accept recommendations for appointment of high court judges. Petitioner Rakesh Kumar Gupta also sought directions to the top court collegium to provide the "qualification" considered for appointment as a high court judge and publish monthly data related to pending and disposal of recommendations.

2:34 PM

Ukraine's Zelensky arrives in Sweden to sign bilateral security pacts

Ukrainian President Volodymyr Zelenskiy stated today he had arrived in Sweden with plans to sign three bilateral security agreements. The Ukrainian president is in Stockholm to attend the third Ukraine-Northern Europe Summit, with air defence and joint weapons production at the top of the agenda.

2:02 PM

Delhi Water Minister Atishi writes to Centre on Delhi's water issue

"I am writing to request you to ensure that some provision of water is made for Delhi, be it from Haryana or UP or any other state that may be able to spare water, so that the people of Delhi don't suffer. We request your urgent intervention in the issue...It is imperative that the State of Haryana must immediately release Delhi's rightful share of water into the Yamuna River to bring the waters to the normal level of 674.5 feet," Delhi Water Minister Atishi said in the letter.

 

1:54 PM

Nipah prevention efforts will be intensified in Kerala: Health minister

Kerala Health Minister Veena George has declared that Nipah prevention efforts will be intensified in the state, particularly during the critical months of May to September when the virus is most likely to spread.  she asked the public not to destroy bat habitats, as disturbing these could increase the risk of virus transmission. Additionally, she advised against consuming fruits that have been bitten by birds and drinking honey from banana peels, both of which could be contaminated by bats.

1:41 PM

Swati Maliwal case updates: Delhi High Court reserves order on maintainability of Bibhav Kumar plea

Delhi Chief Minister Arvind Kejriwal's aide Bibhav Kumar was earlier denied bail by Delhi's Tis Hazari Court on May 27. Delhi Police had arrested him on May 18.

1:16 PM

Delhi High Court reprimands advocate for filing PIL on reporting of Swati Maliwal assault case

 The Delhi High Court on Friday pulled up an advocate for filing a PIL seeking to stop the media from reporting the name of Rajya Sabha MP Swati Maliwal in the assault case allegedly involving Chief Minister Arvind Kejriwal's close aide Bibhav Kumar. “When the victim wants to talk about it then who are you to say anything. The victim is not complaining but you are complaining. What is the role of a third party in this? The victim is coming openly about it. It is very clear that your vision is coloured and blurred. You are not talking about victim shaming,” a bench of Acting Chief Justice Manmohan and Justice Manmeet PS Arora said.

1:13 PM

Have to surrender on June 2, they will try to break me but won't bow down: Delhi CM Kejriwal

Delhi Chief Minister Arvind Kejriwal on Friday said he will be surrendering on June 2 and asserted that he will not bow down even if he is harassed in jail. "I have to surrender on June 2 and I do not know how long I will stay in jail this time. I am going to jail for saving this country from dictatorship and I am proud of it," the chief minister told a virtual press conference.

1:08 PM

Karnataka sex crimes case: Prajwal Revanna brought to Bengaluru hospital for medical examination

Suspended JD(S) leader Prajwal Revanna, brought to Bowring & Lady Curzon Hospital in Bengaluru for medical examination after he was arrested by the SIT last night

12:57 PM

Pune Porshe crash: Cops seek permission from Juvenile Justice Board to probe minor

Police claim the 17-year-old teenager was driving the luxury car in an inebriated state when it met with the fatal accident in the city's Kalyani Nagar area on May 19. “We have written to the JJ Board and sought their permission to allow us to probe the minor,” said Shailesh Balkawade, additional commissioner of police (crime).