India's March qtr GDP growth at one-year low as prices hit consumers

31/5/2022 5:24:00 PM

India's March qtr GDP growth at one-year low as prices hit consumers

India's March qtr GDP growth at one-year low as prices hit consumers

NEW DELHI : India's economic growth slowed to the lowest in a year in the first three months of 2022, hit by weakening consumer demand amid soaring prices that could make the central bank's task of taming inflation without harming growth more difficult.Gross domestic product grew 4.1 per cent year-on-yea

NEW DELHI : India's economic growth slowed to the lowest in a year in the first three months of 2022, hit by weakening consumer demand amid soaring prices that could make the central bank's task of taming inflation without harming growth more difficult.

Gross domestic product grew 4.1 per cent year-on-year in January-March, government data released on Tuesday showed, in line with a 4 per cent forecast by economists in a Reuters poll, and below 5.4 per cent growth in Oct-December and growth of 8.4 per cent in July-Sept.

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LinkedIn NEW DELHI : India's economic growth slowed to the lowest in a year in the first three months of 2022, hit by weakening consumer demand amid soaring prices that could make the central bank's task of taming inflation without harming growth more difficult.LinkedIn JERUSALEM: Thousands of flag-waving Israeli nationalists marched through the Muslim quarter of Jerusalem's Old City on Sunday (May 29) in a deeply divisive parade that Palestinian factions warned could re-ignite their conflict with Israel.SIA chief executive Goh Choon Phong told The Sunday Times that SIA has been proactive with their hiring as they anticipated the opening up of international borders and wanted to get ahead in the hiring process.LinkedIn NEW DELHI : India's economic growth slowed to 4.

Gross domestic product grew 4.1 per cent year-on-year in January-March, government data released on Tuesday showed, in line with a 4 per cent forecast by economists in a Reuters poll, and below 5. The annual Jerusalem procession celebrates Israel's capture of the Old City in the 1967 Middle East war and draws thousands of cheering, chanting participants to its narrow, stone streets.4 per cent growth in Oct-December and growth of 8. The group had to let go of fewer than 2,000 staff members.4 per cent in July-Sept."An Arab is a son of a whore," one small group yelled out in front of Jerusalem's ancient walls. The economy's near-term prospects have darkened due to a spike in retail inflation, which hit an eight-year high of 7. Source: Reuters.

8 per cent in April. Some of the visitors wore religious garb and prostrated themselves. Almost all of its existing pilots, cabin crew and aircraft are now flying regularly again but none of the flights or crew is fully utilised yet. The surge in energy and commodity prices caused partly by the Ukraine crisis is also squeezing economic activity. "Inflation pressures will remain elevated," V. The preacher of the mosque, Sheikh Ikrima Sabri, denounced their behaviour. Anantha Nageswaran, chief economic adviser at the finance ministry, said after the data release, adding that the risk of stagflation - combining slow growth and high inflation - was low in India. SIA increased passenger capacity from 24 per cent of pre-Covid-19 levels in April 2021 to 51 per cent by the end of March 2022. GRAPHIC: India's Quarterly Economic Growth (https://graphics. The extremist group Hamas, which governs the Gaza Strip, also condemned the scenes, which went viral on social media.

reuters.com/INDIA-ECONOMY/INDIA/egvbkqmzrpq/chart. In recent years, Hamas has cast itself as a defender of Muslim Jerusalem. Despite this projection, Goh said SIA is not restoring its crew capacity to pre-Covid levels just yet, according to ST.png) Rising energy and food prices have hammered consumer spending, the economy's main driver, which slowed to 1.8 per cent in the Jan-March period from a year earlier, against an upwardly revised growth figure of 7. DRONE As nationalists draped in Israel's blue and white flag gathered at Damascus Gate, a drone flew overhead trailing a Palestinian flag.4 per cent in the previous quarter, Tuesday's data showed. On some days, the call volume would be up to 160 per cent of Covid-19 levels.

Garima Kapoor, an economist at Elara Capital, said a slowdown in global growth, elevated energy prices, a cycle of rising interest rates and a tightening of financial conditions would all be key headwinds. Inside the city, small fights sporadically broke out. She revised lower her annual economic growth forecast for the current fiscal year that started on April 1 to 7.5 per cent from an earlier estimate of 7. However, some marchers said they had come in peace. Goh added that the situation is"rapidly being resolved" and apologised to customers affected by delays.8 per cent. India's government revised its annual GDP estimates for the fiscal year that ended on March 31, predicting 8. (Photo: REUTERS/Ammar Awad) "I know my neighbours aren't so happy that we're here, but we didn't come to annoy them, we came to be happy for Jerusalem," said Yair Sussman, 17, a Jewish seminary who studies at a school in the occupied West Bank.

7 per cent growth, lower than its earlier estimate of 8.9 per cent. Israel sees all of Jerusalem as its eternal and indivisible capital, while Palestinians want the eastern section as capital of their future state. The Reserve Bank of India (RBI) this month raised the benchmark repo rate by 40 basis points in an unscheduled meeting, and its Monetary Policy Committee has signalled it will front-load more rate hikes to tame prices. Economists expect the MPC to increase the repo rate by 25-40 basis points next month. Palestinians view Sunday's march as an Israeli show of force and part of a broader campaign to bolster Jewish presence across the city. 'CLOUD OF UNCERTAINTY' Economists said the weakening consumer demand and contraction in manufacturing activities were a concern.

High-frequency indicators showed supply shortages and higher input prices were weighing on output in the mining, construction and manufacturing sectors, even as credit growth picks up and states spend more."Waving the Israeli flag in the capital of Israel is perfectly acceptable," he said on Sunday. Manufacturing output contracted 0.2 per cent year-on-year in the three months ending in March, compared with expansion of 0. Two weeks ago, the funeral of Al Jazeera journalist.3 per cent in the previous quarter, while farm output growth accelerated to 4.1 per cent from 2.

5 per cent expansion in the previous quarter, data showed. The rupee's more than 4 per cent depreciation against the U.S. dollar this year has also made imported items costlier, prompting the federal government to restrict wheat and sugar exports and cut fuel taxes, joining the RBI in the battle against inflation. "With rising inflationary pressures, the consumption recovery remains under a cloud of uncertainty for 2022/23," said Sakshi Gupta, principal economist at HDFC Bank.

Source: Reuters .