YK MYK UNEMPLOYMENT RATE HITTING FOUR MONTH HIGH IN DEC GIVES A BAD SIGNAL OPINION Rs. 5 RANCHI SATURDAY, 8 JANUARY, 2022 PG-12, YEAR— 11, ISSUE— 241 (RNI NO: JHAENG / 2012 / 44137) WHY INDIA LOST THE JOHANNESBURG TEST SPORTS Morning India Indian economy to grow 9.2 pc in FY22, fastest in world NEW DELHI: The Indian economy remains on track to regain its position as the world's fastest-growing major economy after official estimates on Friday put the GDP expansion at a tempered 9.2 per cent this fiscal amid concerns over the impact of a resurgent virus on the fragile recovery. The growth in the gross domestic product (GDP) of 9.2 per cent in April 2021 to March 2022 fiscal (FY 202122) given by the National Statistical Office (NSO) in its first advance estimate compares with 9.5 per cent expansion forecast by the Reserve Bank of India (RBI) last month. The economy had contracted by 7.3 per cent in the previous financial year. With one quarter still left in the fiscal year, there has been a surge in daily COVID-19 cases in recent days driven by the Omicron variant which is set to overtake Delta as the dominant strain. This has prompted fresh restrictions in several parts of the country, threatening the fragile economic recovery. Risks to the economy stem from an Omicron-led third wave which may upend growth revival across sectors, specially the contact-intensive services industries. With 9.2 per cent growth in 202122 fiscal, the economy will surpass the pre-COVID level in actual terms, mainly on account of improved performance by farm, mining and manufacturing sectors. "Real GDP or GDP (gross domestic product) at Constant Prices (2011-12) in the year 2021-22 is estimated at Rs 147.54 lakh crore, as against the Provisional Estimate of GDP for the year 2020-21 of Rs 135.13 lakh crore, released on May 31, 2021. "The growth in real GDP during 2021-22 is estimated at 9.2 per cent as compared to the contraction of 7.3 per cent in 2020-21," as per a statement by the NSO. The projection is less than the 9.5 per cent forecast by the International Monetary Fund (IMF) and S&P, while Moody's Investors Service had in recent weeks put India's growth forecast at 9.3 per cent. Fitch Ratings has projected an 8.7 per cent expansion. World Bank has been the most conservative, projecting an 8.3 per cent growth rate while OECD put it at 9.7 per cent. The finance ministry's Economic Survey in February last year had projected an 11 per cent growth rate for 2021-22. The growth estimate for India is higher than 8 per cent projected for China. As per NSO estimates, GDP in actual terms in 2021-22 will surpass the pre-COVID level of Rs 145.69 lakh crore in 2019-20. The pandemic hit the country in March 2020, resulting in a nationwide lockdown from March 25, 2020, which severely dented the economic growth in the 2020-21 fiscal. According to the statement, real GVA (gross value added) at Basic Prices is estimated at Rs 135.22 lakh crore in 2021-22, as against Rs 124.53 lakh crore in 2020-21, showing a growth of 8.6 per cent. In the current fiscal, the manufacturing sector is likely to see a growth of 12.5 per cent against a contraction of 7.2 per cent a year ago. The NSO estimates significant growth in 'mining and quarrying' (14.3 per cent), and 'trade, hotels, transport, communication and services related to broadcasting' (11.9 per cent). The agriculture sector is estimated to see a growth of 3.9 per cent in FY2021-22, higher than the 3.6 per cent expansion recorded in the previous financial year. Morgan Stanley in a January 4 report had said India's growth trend has faced various exogenous shocks in the last eight years, leading to a weaker than expected growth trend, especially as measured by corporate revenue growth. "Policymakers have erred on the side of creating macro stability buffers with price stability and external stability risks contained," it had said. "We remain optimistic of cyclical recovery to continue in coming quarters with all drivers of growth firing, leading to a capex led growth cycle." Over the medium term, India will likely to be one of the few countries to offer high productive growth, it had said. BORDER DISPUTE: INDIA, CHINA 14TH ROUND MILITARY TALKS LIKELY NEXT WEEK All int’l travellers to go for 7-day home quarantine on arrival in India NEW DELHI: India and China military delegates are likely to hold talks on January 12 to deliberate over ways to de-escalate the border dispute between the two nations. It would be the 14th round of India and China Corps Commander level military talks focusing on disengagement in the remaining friction areas like Depsang, Hot Springs and others. The talks are happening when China has implemented new border laws from January 1 and has also started construction of a bridge on Pangong Lake in Eastern Ladakh to which India has objected. On Thursday, India had strongly objected to China's illegal construction of a bridge on a part of the Pangong Lake and had stated that the government is monitoring the situation. Talking about reports about a bridge being made by the Chinese side on Pangong lake, the Ministry of External Affairs spokesperson Arindam Bagchi had said, "Government has been monitoring this activity closely. NEW DELHI: India on Friday revised the existing guidelines for all international arrivals in India in view of the rising Covid cases and the Omicron threat, to make seven days home quarantine mandatory. The new guidelines will be effective from January 11 till further notice. Travellers coming from specified countries at risk will have to undergo home quarantine for 7 days and shall undertake an RT-PCR test on the 8th day of arrival in India, as per the guidelines. These travellers will have to submit samples for the post-arrival Covid-19 test at the point of arrival (selfpaid). Such travellers will be required to wait for their test results at the arrival airport before leaving or taking a connecting flight. If they tested negative, they will follow home quarantine for 7 days and shall undertake another RT-PCR test on the 8th day of arrival in India. The travellers shall also be required to upload results of repeat RT-PCR test for Covid-19 done on the 8th day on the Air Suvidha portal. If negative, they will further self-monitor their health for the next 7 days. However, if such travellers are tested positive, their samples should be further sent for genomic testing at the INSACOG laboratory network, as per the new guidelines. Travellers coming from countries other than the list of risk countries will also undergo home quarantine for 7 days and shall undertake an RT-PCR test on the 8th day of arrival in India. They will have to upload results of repeat RT-PCR test on the Air Suvidha portal and If found negative, they will further self-monitor their health for the next 7 days. The guidelines said that all travellers should submit complete and factual information in a self-declaration form on the online Air Suvidha portal before their scheduled travel, including travel details of the last 14 days. They need to upload a negative Covid-19 RT-PCR report. The test should have been conducted within 72 hours prior to undertaking the journey. The passengers coming from or travelling to at-risk countries shall be informed by the airlines that they will undergo post-arrival testing. They will be quarantined if tested negative and will be subjected to stringent isolation protocols if tested positive, as per the new guidelines. Retail, hospitality sectors saw significant hiring in Dec: Report NEW DELHI: The last month of 2021 saw good hiring growth in India in sectors like travel and hospitality, retail and education, owing to the festive quarter and a rebound, a new report showed on Friday. The rebound was, however, likely to be hampered once again with the Omicron variant spread in the country this month. According to the Naukri JobSpeak Index, the festive year-end marked an upswing in hiring activity over last year across all major metros. "While IT has continued to drive growth in hiring, it is heartening to see a comeback from sectors of hospitality and travel, retail, and real estate," said Pawan Goyal, Chief Business Officer, Naukri.com. Top metro cities saw growth in hiring when compared with December last year. Hyderabad led at +12 per cent (on-year), growth followed by Bengaluru (+11 per cent), Mumbai (+8 per cent), Pune (+4 per cent), and Chennai (+6 per cent). Delhi was flat and Kolkata de-grew by 3 per cent. "We see a lot of talent shifting back to their cities of work with most companies drafting their return to work policies. As companies continue to press the pedal on their digital transformation journeys, the demand for certain functional areas and sectors will keep growing," Goyal added. Among the emerging cities, Ahmedabad (+21 per cent) recorded the highest growth. Hiring for new jobbers and young professionals was steady in December as demand for freshers and professionals with 4-7 years of experience remained flat. Demand was slightly affected for professionals in the 8-12 years (-4 per cent) and 13-16 years (-9 per cent) experience segments, the report said. Govt planning to set up a big nursing centre: CM SANJAY SAHAY RANCHI: Chief Minister (CM) Hemant Soren on Friday stated that his government wants the state to earn a reputation for itself in health sector in the coming years adding several projects are in planning stage. The CM was addressing an annual conference of ear, nose and throat doctors titled AOICON 2022 at mega sports complex in Khelgaon. Around 900 doctors from various parts of the country took part in the event. He informed said that government was continuously trying to establish hospitals, medical colleges, nursing colleges and education facilities in state. The CM announced that at present six medical colleges are functional in the state adding a plan for setting up a big nursing centre is also in the pipeline. He said a large number of females from the state would be employed in hospitals in different parts of the country. He added that government also aims to train youths and employ them as male nurses. Soren stated that improving rural health infrastructure is also a priority of his government. He said that plan is under preparation to link the people in the remote areas with health services. He stated that villagers must be freed from clutches of quacks and superstitions. The CM said that state government was moving ahead keeping in mind the geography, environment, living standards of people in mind. He said that state government also expects suggestions from the doctors for changes in the health services. The CM observed that the new industrial policy has created a improved investment environment adding several institutions are inter- ested in investing in the state. Soren said that his government performed well with limited resources during the Covid pandemic. He hoped that the conference would prove to be a milestone as several research papers and information were exchanged. He also paid tribute to the doctors who lost their lives while serving people during the Covid pandemic. Secretary Vinay Chaubey , Central Coalfields Limited chairman cum managing director PM Prasad and doctors were present in the meeting.