Data recap: GDP growth, LPG price cut, Maruti’s plans
Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. The Indian economy reported a strong performance in the quarter ended June on the back of services sector growth, while the government announced a price cut of ₹200 on LPG gas cylinders. Maruti Suzuki is planning to invest ₹45,000 crore to boost production.
The Indian economy grew 7.8% in the first quarter of the current financial year, signalling resilience amid global slowdown. The fastest growth in four quarters came on the back of an impressive rise in services, 10.3%, while the agricultural sector slowed due to erratic weather conditions. Nominal GDP, or GDP at current prices, grew 8.0%, only 20 bps higher than real GDP, suggesting a sharp decline in wholesale prices pushed real GDP growth upwards in the quarter.
The issue of unemployment and lack of quality jobs isn’t new for India. A new survey has revealed that nearly one in three food delivery workers in India could be “overqualified" for the job. The survey was conducted over telephone by the National Council of Applied Economic Research and covered 924 workers at a food delivery company spread across 28 cities.
As many as 32.7% of this sample were graduates or above. This share was the highest in Tier-2 cities, at 39.4%, the survey found. ₹200: That’s the amount by which the price of a domestic liquified petroleum gas (LPG) cylinder has been slashed after a Union Cabinet decision this week.
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