5 hacks to go viral with Aranya Johar

She took the digital world by storm last year, when her poem A Brown Girl’s Guide to Gender, dealt a body blow to misogyny and sexism in Indian society.

Today, at 19 and five million YouTube hits later, Aranya Johar — slam poet, digital activist and self-professed pizza lover — is a bit of a digital hero.

I caught up with the fledgling social media celebrity on the sidelines of Sheroes 2018, to pick her brains on what it took to make it big in the digital world. Here are some excerpts from that interview:

Edited excerpts:

Your poem, A Brown Girl’s Guide to Gender stands at 2.2 million views today, and it’s catapulted you into a digital personality. So, what does it take to build a personal brand, online?

Aranya Johar: “If I could say one thing — having a unique voice really helps. It makes it easier for people to identify you, know it’s you, know your work and identify your content. Also, have a personality that’s easy to engage with. The more perceptive and receptive you are — it helps people talk to you. Social media has made it really easy to talk to people online and have a conversation across the world. So, the more you make yourself seem approachable, the better it is.”

How much of what you do online is instinct, and what percentage of it is based on social media analytics?

Aranya Johar: “Be well read and keep yourself updated with the news, and have an opinion that matters but also one that is backed by facts. You need to realise that you’re influencing people every time you put up an Instagram story, a post or a video. There are people listening to and forming opinions based on what you say. So, you definitely have to be well read. A lot of your art comes naturally, but during the process of getting it online is when social media managers get their heads together and make it work. So, it’s a little bit of both!”

So, where do you strike that balance?

Aranya Johar: “You should be able to connect with your work, but you should also have opportunity for other people to connect with your work, personally. The minute it’s personal to you, it gives other people the opportunity to connect with it, at an inter-personal level.”

What are the tools that you get to use when it comes to creating great online content and marketing it well enough?

Aranya Johar: “Facebook, Instagram, Twitter and YouTube all make for great platforms to put your videos up, share opinions and put up funny content. All of this is working. Plus, you don’t really need a video camera anymore — a lot of people just Vlog with their phones. So, I think it’s become a lot easier to get online and make things happen.”

What’s the go-to strategy when it comes to changing algorithms on Facebook, Instagram and Twitter?

Aranya Johar: “I don’t have to deal with that! That’s my agency’s problem. I just create the content and say ‘here, this is for you — please help me put this up!’ But if the content is original, if it connects with you, and if you have a personal relationship with it, it’s going to work, anyway.”

What has your experience been like, while using home-grown social networks like ShareChat, YourQuote and Pratilipi? Do you get a more diversified audience?

Aranya Johar: “I haven’t worked with these apps just as yet. But if you get the opportunity to put your work online, and if you feel confident about it, you should definitely do it. A lot of people don’t have the right equipment, and the one thing that definitely matters is having the right sound and video quality. You can get this with your phone. But if you want it in high-quality, with the right settings and a mic, you should get it; it might work for you. But make sure you don’t get caught up with the saturation of the videos that go up. You want your video to stand out. So, if it makes sense to wait a while and pursue a personal poetry channel such as Unerase Poetry, or if you were to do comedy and then want to go through CLC (Comedy Laugh Club), or platforms like these. Even if you want to start your own platform, that’s great since it’s giving you a head-start to your game.”

How difficult does it get while dealing with trolls and the misogyny that seems to be found in abundance, online?

Aranya Johar: “The first time I put my video up I had my board exams on. So, I wasn’t following the comments. The week my exams got over, I went through them. While there were a lot of supportive comments, there were also rape and death threats too. I thought to myself: ‘this is a real part of the internet’. Someone with their entire brain decided to write ‘you deserve to die’ to a young girl on video. I realised I’m still facing only a small part of this. I realised that it always gets more intense with what you talk about and how you talk about it. But at the end of the day, what matters to me is as much hate as I get, I get multiple times more in terms of support. I’ve also heard from people who tell me, ‘I can’t talk about this story, but can you talk about it for me?’ The fact that I’ve created that connection with an absolute stranger is what matters to me. And that’s what helps me channel through all the negativity.”

 5 Minutes Read

India’s GDP grew at 8.2% in Q1 FY19. Here are some key numbers from the CSO’s release

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

India’s growth numbers are out. The country’s gross domestic product (GDP) in the first quarter of FY19 grew at 8.2 percent, according to the GDP data released by Central Statistics Office (CSO). This is the highest growth in the last two years and the strongest since the fourth quarter of 2015-16 when the GDP had …

India’s growth numbers are out. The country’s gross domestic product (GDP) in the first quarter of FY19 grew at 8.2 percent, according to the GDP data released by Central Statistics Office (CSO).

This is the highest growth in the last two years and the strongest since the fourth quarter of 2015-16 when the GDP had recorded 9.2 percent growth. The official GDP figures have beaten the expected growth rate predicted by many economists which were foreseeing a growth around 7.5-7.6 percent.

The growth can mostly be attributed to the robust performance of the core sectors and low base.

Following are some of the key numbers:

  • 8%

The growth in the gross value added (GVA) at constant 2011-12 prices during the first quarter of 2018-19 stood at 8 percent, up from 5.6 percent growth in the same quarter last fiscal.

GVA is considered a better measure of the aggregate value of goods and services produced in the economy. GVA is GDP minus taxes.

  • 13.5%

Manufacturing GVA grew by 13.5 percent against a negative 1.8 percent in the same period of last fiscal. The manufacturing sector was expected to do well looking at the industrial production (IIP) data. Manufacturing industry registered a growth rate of 5.2 percent during Q1 of 2018-19 as compared to 1.6 percent in the same quarter previous year.

  • 5.3%

Agriculture sectors too showed signs of recovery by clocking a 5 percent growth rate as compared to 3 percent same quarter last year. The agriculture GVA numbers are based on the production of crops in the rabi season (2017-18). According to the data furnished by the department of agriculture and cooperation (DAC), the production of rice, wheat, coarse cereals and pulses registered growth rates of 15.0 percent, 1.2 percent, 15.6 percent and 17.3 percent respectively, said the CSO release.

  • 31.6% 

India’s rate of investment i.e. the gross fixed capital formation in 2011-12 prices during Q1 FY19 stood at 31.6 percent, down from 32.2 percent in the previous quarter but slightly up from 31 percent in the same quarter last fiscal.

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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PNB plans to sell entire NSE stake for over Rs 48 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Punjab National Bank (PNB) is looking to sell its entire holding of 0.11 percent in the National Stock Exchange (NSE) and expecting to raise over Rs 48 crore by divesting the stake. Bank’s subsidiary PNB Investment Services Limited (PNBISL) has invited bids from merchant bankers on behalf of PNB to arrange for investors. “Punjab National …

Punjab National Bank (PNB) is looking to sell its entire holding of 0.11 percent in the National Stock Exchange (NSE) and expecting to raise over Rs 48 crore by divesting the stake. Bank’s subsidiary PNB Investment Services Limited (PNBISL) has invited bids from merchant bankers on behalf of PNB to arrange for investors.

“Punjab National Bank (PNB) intends to sell its equity shareholding in the National Stock Exchange of India Ltd (NSE) through a competitive bidding process,” according to the request for proposal on the website of PNBSIL.

PNB has set a floor price of Rs 879 per equity to sell its stake of 0.11 percent stake equivalent to 5,50,000 shares in the NSE.

Thus, the divestment of the stake in the NSE is expected to fetch at least Rs 48.35 crore to the bank.

The state-owned lender said that it intends to complete the assignment of selling the stake in the NSE by September 30, 2018.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Rupee slumps 26 paise to close at historic low of 71 level

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The rupee on Friday slumped by 26 paise breach the historic low of 71 level for the first time against the US currency due to firming crude oil prices and strong month-end demand from oil importers. At the Interbank Foreign Exchange (Forex) market, the local currency opened lower at 70.95 a dollar and slipped further …

The rupee on Friday slumped by 26 paise breach the historic low of 71 level for the first time against the US currency due to firming crude oil prices and strong month-end demand from oil importers.

At the Interbank Foreign Exchange (Forex) market, the local currency opened lower at 70.95 a dollar and slipped further to hit its lifetime low of 71 from its previous close of 70.74. The rupee pared some of the losses to touch a day’s high of 70.85 but slumped in late trade to close at its lifetime trading low of 71.00, showing a loss of 26 paise or 0.37 per cent over the previous close.

Forex dealers said besides robust month-end demand for the American currency from oil importers, dollar’s strength against its rival currencies on expectations of rising interest rates amid lingering Sino-US trade tensions, weighed on the domestic currency.

“The rupee has made a new record low of 71 today on the back of rising crude oil prices in the international market. Emerging market currencies are under pressure, this has also weighed on the rupee. The dollar index continues to remain higher on expectations of aggressive interest rate hike by the Federal Reserve,” Rushabh Maru – Research Analyst, Anand Rathi Shares and Stock Brokers said.

On Thursday, the rupee slid further by 15 paise to close at a fresh lifetime low of 70.74 to the dollar due to strong demand for the greenback from oil importers and surging crude oil prices stoking inflation fears. Growing fears about rising inflation in amid high global crude oil prices and consistent outflow of foreign funds from the domestic equity market also weighed on the domestic currency.

Benchmark Brent crude oil was at USD 78 a barrel in early Asian trade. Meanwhile, both the key indices Sensex and Nifty recorded their sixth straight week of gains by rising 393.27 points or 1.02 per cent, and 123.40 points or 1.07 per cent, respectively. The rupee also fell against the pound sterling to finish slightly lower at Rs 92.12/14 per pound.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Railways likely to miss August 2022 Bullet train deadline, mulls opening shorter route

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The railways is contemplating opening a shorter 50-km section of bullet train route in August 2022, which was the deadline for making the entire 508-km high-speed corridor operational, sources said here indicating that the bullet train project is running behind schedule. The sources in the National High Speed Rail Corporation Limited (NHSRCL), the implementing agency …

The railways is contemplating opening a shorter 50-km section of bullet train route in August 2022, which was the deadline for making the entire 508-km high-speed corridor operational, sources said here indicating that the bullet train project is running behind schedule.

The sources in the National High Speed Rail Corporation Limited (NHSRCL), the implementing agency of the project, told PTI that in the event of a missed deadline of August 15, 2022, India’s 75th Independence Day, a small corridor from Surat to Billimora in Gujarat will be made operational.

A source said that “a more realistic deadline” for the bullet train project could be 2023, a year from the present deadline.

“The hurdles in the execution of the bullet train project are not only confined to land acquisition. There are processes involved and the detailed planning, which are still underway.

“As per our assessment, the project might miss the target by a year. The entire 508 km stretch could be commissioned by end 2023,” the source from NHSRCL said.

The entire high-speed rail corridor will require 1,434 hectares of land with 353 hectares in Maharashtra and the rest in Gujarat. This is divided into 7,000 plots, in 195 villages in Gujarat and in 104 villages in Maharashtra. The project covers three districts in Maharashtra and eight in Gujarat, besides a small area in Dadra and Nagar Haveli. However, so far, only about 0.9 hectare in Bandra-Kurla Complex has been physically handed over, leading to this present predicament, the source said.

“This is one section which will meet the deadline. Besides, it could act as a prototype, helping us test the technologies involved in the high-speed operation,” said another source.

The project involves construction of the Vadodara station right on top of the existing station of the Indian railway network. A 220 meter girder (which itself will be an engineering challenge) would be part of this station project.

This girder could only be completed around the end of 2022, the source said listing out the numerous challenges in the project.

It is likely that NHSRCL will miss the December 2018 deadline for land acquisition for the Rs 1.08-lakh-crore project, being built with an 80 percent loan from Japan, the sources said citing resistance from farmers in Palghar (Maharashtra) and Navsari (Gujarat).

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

India’s July domestic air traffic up 18%, says IATA

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

India’s domestic air passenger traffic grew in double digits for the 47th consecutive month in July, a global airline association said on Friday.

India’s domestic air passenger traffic grew in double digits for the 47th consecutive month in July, a global airline association said on Friday.

According to the International Air Transport Association (IATA), India’s domestic air passenger volume measured in revenue passenger kilometres (RPK) was the highest among major aviation markets like Australia, Brazil, China, Japan, Russia and the US.

As per the data, India’s domestic RPK in the month under review rose by 18.3 percent in July compared to the corresponding month of the previous year.

On a sequential basis, the growth has gone up from June’s rise of 17.6 per cent.

“The India domestic market topped the growth chart for the 12th time in 13 months in July, and posted its 47th consecutive month of double-digit growth. Meanwhile, China’s growth performance wasn’t far behind that of India, with domestic RPKs up 14.8 percent compared to July 2017,” IATA said in its global passenger traffic results for July 2018.

“Demand continues to be supported in both cases by structural changes, including ongoing rises in living standards, as well as sizeable increases in the number of airport connections within the respective countries. The latter translates into time savings for passengers and has a similar stimulatory impact on demand as reductions in fares,” IATA said.

India’s domestic passenger traffic growth was followed by that of China at 14.8 percent and the Russian Federation at 10.8 percent.

In terms of capacity, India’s domestic available seat kilometres (ASK) — which measures available passenger capacity — climbed higher by 12.2 percent in July, and that of China’s 14.3 percent growth and Russian Federation 10.2 percent.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Answer Anonymously

Should Elon Musk be able to buy Twitter?

Union minister PP Choudhary says SFIO probing 6 companies; Jet Airways also under scanner

Jet Airways

Government on Friday said Serious Fraud Investigation Office (SFIO) is inspecting six companies, namely, NuPower Renewables, Supreme Energy, Videocon Industries, Pacific Capital Services, NuPower Wind Farms and Echanda Urja.

In an interview to CNBC-TV18, minister of state for corporate affairs, PP Choudhary, said that debt-ridden Jet Airways is also under the scanner.

According to Choudhary, time to time review is taken by the ministry with respect to working of National Company Law Tribunal (NCLT) and is trying to stick to the timeline prescribed under Insolvency and Bankruptcy Code (IBC).

Few days back, the ministry had ordered inspection of books and papers with regards to Jet Airways, Choudhary said.

 5 Minutes Read

Q1FY19 GDP beats estimates, grows at 8.2 percent

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

A Reuters Poll, HDFC Bank’s research and a CARE Ratings report are expected 7.6 percent GDP growth for the first quarter of current fiscal. 

India’s gross domestic product (GDP), for the first quarter ended June 30, 2018 grew at 8.2 percent, fastest in two years. For the first three months of 2018, India reported 7.7 percent annual growth, the fastest in nearly two years.

A CNBC-TV18 poll predicted GDP growth at 7.7 percent.

A Reuters poll, HDFC Bank’s research and a CARE Ratings report are expected 7.6 percent GDP growth for the first quarter of current fiscal.

The economic activities which registered growth of over 7 percent in first quarter of 2018-19 over the same period of 2017-18 were manufacturing, electricity, gas, water supply and other utility services, construction and public administration, defence and other services.

Ministry of Statistics and Programme Implementation said, “Quarterly GVA at basic prices for Q1 2018-19 from ‘manufacturing’ sector grew by 13.5 percent as compared to growth of (-) 1.8 percent in Q1 2017-18.”

Gross Value Added (GVA) for the given quarter rose by 8 percent as against 5.6 percent in the same quarter of last year.

Manufacturing GVA grew by 13.5 percent versus a negative 1.8 percent in the same period of last fiscal. GVA in construction, financial services, public administration and electricity rose by 8.7 percent, 6.5 percent, 9.9 percent and 7.3 percent, respectively.

The ministry said that Gross Fixed Capital Formation (GFCF) at current prices stood at Rs 12.75 lakh crore in Q1 of 2018-19 as against Rs 11.20 lakh crore in Q1 of 2017-18. At constant (2011-2012) prices, the GFCF stood at Rs 10.65 lakh crore in Q1 of 2018-19 as against Rs 9.68 lakh crore in Q1 of 2017-18. “In terms of GDP, the rates of GFCF at current and constant (2011-2012) prices during Q1 of 2018-19 are estimated at 28.8 percent and 31.6 percent, respectively, as against the corresponding rates of 28.7 percent and 31 percent, respectively in Q1 of 2017-18,” it said.

Ashima Goyal, member of Prime Minister’s Economic Advisory Council PMEAC said, “8 percent gross value added (GVA), 8.2 percent gross domestic product (GDP) is really good, but we must remember that it is on a low base last quarter.”

She added, “But (GDP growth rate) still this suggests that the turnaround is there and that there is an intrinsic resilience in the economy because despite zero macro-economic stimulus and external stresses, we are doing well.”

Soumya Kanti Ghosh, group chief economic advisor of State Bank of India said, “It is a pretty good set of numbers but I am surprised with agricultural growth number as Rabi output indicated 3 percent growth. Possibly the buoyancy in agriculture is because of the allied activities.”

He said, “If you calculate the core GVA, which is basically the private sector, that has actually surged to 8.1 percent as against 7.2 percent. So it is a number which is primarily driven by manufacturing because the corporate earnings were very strong.”

Former finance minister P Chidambaram, on Twitter, said, “Going forward, the base effect will not be so favourable. And when we reach Q3 and Q4, the rate of growth may decline and the annual growth rate may be more or less like last year’s.”

In its report, the RBI said economic growth was expected to accelerate to 7.4 percent in the current fiscal year that began in April, from 6.7 percent the previous one, despite risks posed by higher oil prices and global trade tensions.

Private sector lender HDFC Bank, in its research report, said that there are some genuine signs of revival in the economy as the major growth is likely to come from the manufacturing and the service sector. The report said that agricultural growth may also support the GDP growth.

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nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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GDP back series data technically acceptable, says principal economic adviser

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

As the government ponders over the back series of GDP that created a political storm, a finance ministry adviser has hinted that the methodology may be technically acceptable despite its quirk.

As the government ponders over the back series of GDP that created a political storm, a finance ministry adviser has hinted that the methodology may be technically acceptable despite its quirk.

Principal economic adviser to the finance ministry Sanjeev Sanyal, said all methodologies to reconcile new series GDP data with the old will have some kind of quirk and it is perfectly acceptable if the quirk is known.

“Every single methodology will have some quirks…Now as long as it is technically correct and we are aware of this quirk in it, it’s acceptable. Up to 2002, it shows all growth rates depressed and after 2002 it increases all growth rates,” he said.

“Now is this a cause to be suspicious? No. All we say is that we need to be clear why this methodology does what it does…the technical advisory committee will have to go through it, let them look at it, it may be perfectly good,” Sanyal said.

The Indian government changed the base year for GDP calculation from 2004-05 to 2011-12, by changing the goods and services in the basket to make it more current, in 2015 but needed a back series for long term comparison of economic growth.

The Committee on Real Sector Statistics, which reconciled the new series GDP data with the old, submitted its report to the National Statistical Commission (NSC) earlier this month and the NSC has now invited public opinion on it by September 30.

The GDP back series showed higher economic growth in the period coinciding with UPA-1 compared with the NDA-1 regime. This generated a political slugfest between Congress and BJP after the former claimed its economic policies to be superior.

However, Sanyal said: “This series is not needed for this debate. It was similar with the old series also because the GDP growth rate of the mid-2000s is very, very high even in the previous series. So, you don’t need this series to have this debate.”

He said when the government correctly updated to a series starting 2011-12 people criticised it as it did not match with the previous methodology. Now the same people are excited about this series created for longer term comparison.

“It is a series based on certain weightages which is considered a reasonable weightage for a particular point in time. It is an approximation that is considered technically acceptable at a point in time. All kinds of trade-offs have been made in order to arrive at this particular method,” the adviser said.

“Remember these are all approximate measures of growth. There is nothing natural about GDP measurement. It is a convention based on a certain base. So whichever base I create, whatever convention I take it will have some quirk in it,” he said.

Sanyal said as long as people recognise that it is technically correct and this kink is not happening because of some calculation error or some flaw in the methodology,”it’s perfectly fine even if it has this kink in 2002, fine, that’s ok”.

However, the economic adviser said he is not part of the committee looking into the validity of the back series of GDP and does not know when the government will take a final call on it.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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August 31: Buy Punjab National Bank, Bank of Baroda and Canara Bank, says Ashwani Gujral

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In an interview to CNBC-TV18, Andrew Holland CEO of Avendus Capital and market expert Ashwani Gujral shared their reading and outlook on specific stocks and sectors.

They spoke at length about banking space, Punjab National Bank, Bank of Baroda and Canara Bank.

Follow stock recommendations by Ashwani Gujral here: https://www.cnbctv18.com/author/ashwani-gujral-115/

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.