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Services sector propels India’s economic activity

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Mumbai: Services sector expansion propelled the overall economic activity in India during October, a key macro data showed on Wednesday.

The Nikkei India composite PMI (purchasing managers’ index) which is a key macro data that indicates monthly trends in overall economic activity showed a rise of 52.6 in October from 51.5 in September.

An index reading of above 50 indicates an overall increase in the economic activity, below 50 an overall decrease.

The composite PMI weighs the average of the manufacturing output index and the services business activity index. It is based on original survey data collected from around 700 companies spread across sectors in India.

According to the composite PMI report published by the leading global diversified provider of financial information services — “Markit”, the October expansion trend was the joint-fastest since March.

The survey said the latest improvement was driven by services, as goods producers saw growth of production wane.

“India’s economic growth shifted into a higher gear in October, driven by the service sector. Although manufacturing production continued to expand, growth eased and was sluggish by historical standards,” said Pollyanna De Lima, economist with Markit.

On a standalone basis, the Nikkei India manufacturing PMI recorded a 22-month low in October at 50.7, down from 51.2 in September and from 52.3 in August.

The Nikkei services business activity index for India for October stood at 53.2 from September’s 51.3.

The services index noted growth in three out of the six surveyed categories, led by post and telecommunication.

The survey also revealed a quicker increase in new business inflows since February.

“The upward trend in private sector output reflected stronger inflows of incoming new work, one that was the most marked since March,” De Lima said.

“Services companies saw a faster rise in new business than their manufacturing counterparts, with data implying that price discounts supported growth of new projects.”

The services PMI disclosed that the demand conditions also improved in October.

On the input prices, the survey pointed-out a slight rise in petrol and food costs for the services sector. The purchase prices for manufacturers rose for the first time in three months.

Notwithstanding the rise in input costs, service sector employment levels was remained unchanged with approximately 98 percent of survey members reported no change in payroll numbers since the preceding month.

However, goods producers signalled higher staffing numbers, but the rate of job creation was only marginal.

The report cited that the services companies lowered their selling prices for the second successive month in October to improve competitiveness.

The reduction in selling prices at services firms offset higher charges at goods producers, the study said.

“Private sector firms remained wary of costs and left payroll numbers, once again, unchanged. Average input prices rose in both the service and manufacturing sectors, although at rates that were relatively weak,” De Lima added.

The survey added that the services business sentiment regarding the 12-
month outlook for activity remained positive in October, which was the strongest since July.

The strongest levels of confidence were seen in the ‘other services’ and ‘hotels & restaurants’ categories.

 

(IANS)

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Scientists report Groundwater replenishment in West and South India

An international team of researchers, including experts from IIT-Kharagpur and  NASA, has observed groundwater storage replenishment in certain Indian regions

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Scientists noted Groundwater replenished
Scientists noted Groundwater replenished. Pixabay
  • The implementation of ingenious groundwater management strategies in both Indian public and private sectors
  • Long-term ground-based measurements and decadal-scale  satellite-based groundwater storage measurements
  • The Indian groundwater withdrawal and management policies for sustainable water utilization

August 12, 2017: An international team of researchers, including experts from IIT-Kharagpur and NASA, has reported discernible groundwater storage replenishment in certain Indian regions, in a new study, attributing it to changes in strategy in the public and private sectors.

Published in the Nature Scientific Reports in August, the study says this groundwater storage (GWS) rejuvenation may possibly be attributed “to the implementation of ingenious groundwater management strategies in both Indian public sector and private sector”.

A research team from IIT-Kharagpur in collaboration with NASA American scientists has observed regional-scale water replenishment through long-term (1996-2014, using more than 19,000 observation locations) ground-based measurements and decadal-scale (2003-2014) satellite-based groundwater storage measurements, in large parts of India.

While the northern and eastern parts of India are still undergoing acute usable groundwater depletion and stress, encouraging, replenishing such scenarios are detected in western India and southern India under proper water resource management practices, the study notes.

“Our study shows that the recent paradigm shift in the Indian groundwater withdrawal and management policies for sustainable water utilization, probably have started replenishing the aquifers by increasing storage in western and southern parts of India,” said research leader Abhijit Mukherjee from IIT-Kharagpur on Friday.

The team used numerical analyses and simulation results of management and policy change effect on groundwater storage changes in western and southern India for this study.Mukherjee drew attention to the recent changes in Indian central/state government policies on its withdrawal and stress on management strategies.

Strategies such as restriction of subsidized electricity for irrigation, separate electricity distribution for agricultural purposes (e.g. Jyotigram Yojana), construction of large-scale, regional enhanced recharge systems in water-stressed crystalline aquifers (Tapti river mega recharge project), Pradhan Mantri Krishi Sinchayee Yojana, enhanced recharge by interlinking of river catchments (e.g. Narmada-Sabarmati interlinking), will probably start replenishing the aquifers by increasing groundwater storage in near future.

Chief of Hydrological Sciences Laboratory Matthew Rodell at NASA Goddard Space Flight Center, helped in interpreting the NASA satellite (GRACE) data (2003-2014) of the above-mentioned water source storage changes in India for this study.

The co-authors are — Yoshihide Wada affiliated to International Institute for Applied Systems Analysis, Austria; Siddhartha Chattopadhyay of Indian Institute of Technology, Kharagpur; Isabella Velicogna and Kishore Pangaluru from the University of California, the USA; James S. Famiglietti of Jet Propulsion Laboratory, California Institute of Technology in Pasadena, the US.

“We conclude that in India, where huge groundwater consumption is widely known to be leading to severe dwindling of groundwater resource in recent times, previously unreported, discernible GWS replenishment can also be observed in certain Indian regions,” said lead author Soumendra Bhanja affiliated to Hydroscience and Policy Advisory Group, Department of Geology and Geophysics at the Indian Institute of Technology, Kharagpur, as well as to Hydrological Sciences Laboratory, NASA Goddard Space Flight Center. (IANS)

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Narendra Modi pays Tribute to India’s Former PM Narasimha Rao on his 95th Birth Anniversary

Narasimha Rao was India's 9th Prime Minister and is referred to as the "Father of Indian Economic Reforms"

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P.V. Narasimha Rao. Image source: www.thedailybeast.com
  • PV Narsimha Rao was India’s 8th Prime Minister and is referred to as “Father of Indian Economic Reforms”
  • He died at the age of 83 due to heart attack on December 23, 2004
  • Rao was born on June 28, 1921 at Karimnagar in Telangana

Prime Minister of India, Narendra Modi paid respect to former Prime Minister of India- P.V. Narasimha Rao on his 95th birthday on Tuesday, June 28.

Pamulaparti Venkata Narasimha Rao was by profession an Indian Lawyer and a politician who served India as a Prime Minister from (1991–1996). He was India’s 9th Prime Minister and is referred to as the “Father of Indian Economic Reforms”.

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PM pays tributr to PV Narsimha Rao (Source: Wikimedia Commons)
PM Narendra Modi pays tribute to P.V. Narasimha Rao Image Source: Wikimedia Commons

“Tributes to P.V. Narasimha Rao on his birth anniversary. He led India at a crucial time and his leadership was both notable and vital,” Modi tweeted.

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Narasimha Rao was born on June 28, 1921 at Karimnagar in Telangana and served as the Prime Minister of India from June 21, 1991 to May 16, 1996. P.V. Narasimha Rao died at the age of 83 due to heart attack on 23rd December 2004.

(inputs from IANS)

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India will be the World’s Biggest e-waste generator by 2020: Study

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Electronic waste. Image source Wikimedia commons

Computer equipment accounts for almost 70% of e-waste material followed by telecommunication equipment (12%), electrical equipment (8%) and medical equipment (7%). Household e-waste accounts for the remaining 4% found the study.

The majority of e-waste generated is managed by the unorganized sector and scrap dealers who just dismantle the product instead of recycling it. It was found that only 1.5% of the country’s total e-waste gets recycled which causes a harm to natural resources.

E-waste landfill. Image source Wikimedia commons
E-waste landfill. Image source: Wikimedia commons

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According to the study, the main sources of electronic waste in India are the government and the public and private sectors, which account for almost 75% of the total waste generation. The contribution of individual households stands at 16%.

DS Rawat, secretary general of Assocham said “In India, about 4 lakh to 5 lakh child labourers in the age group of 10-15 years are engaged in various e-waste management activities in various yards and recycling workshops, but lack adequate protection and safeguards.”

-by Vrushali Mahajan, an intern at NewsGram. Twitter: Vrushali Mahajan 

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