Bihar records 10.9% growth rate, third highest in country
Bihar recorded the third highest growth rate of 10.98% at constant price (2011-12) in its gross state domestic product (GSDP) during the 2021-22 FY among all the states in the country. It has marked the return of the state’s economy to the ‘pre-Covid-19 years’, implying that the disruptions caused to the economy by the coronavirus pandemic in 2019-20 and 2020-21 have been nearly overcome.
This has been brought out by the 2022-23 Economic Survey Report (ESR) on the state’s economy tabled by state finance minister Vijay Kumar Choudhary in the assembly.
While the state’s GSDP at constant price was Rs 4.28 lakh crore and Rs6.75 lakh at current price in 2021-22, the resulting per capita income was Rs34,465 at constant price and Rs 54,383 at current price.
The ESR 2022-23 has also noted that the high growth rate that Bihar recorded — scoring even better than the national average of 8.68% during the same fiscal year – was made possible by the fact that the state did not suffer natural disaster (floods and drought) in 2021-22.
The significance of the state’s performance on the recovery process from the coronavirus pandemic years could be gauged from the fact that the growth rate was 4.4% during 2019-20 and negative (-) 3.2 per cent during 2020-21 with minus growth rates recorded in 14 sectors.
While nine sectors recorded growth rate in two digits, one in three digits and five others on the higher side of the single digit, the growth rate in the primary sector (agriculture and allied activities) was 9.6%, in the secondary (manufacturing) sector 3.8% and in the tertiary (services) sector 13.3%, the report said. The share of the primary sector in the state’s economy was 21.2%, followed by 18.1% of the secondary and 60.7% of the tertiary sectors.
Israel approves law to strip Arab attackers of citizenship
Israel’s parliament overwhelmingly approved a law to strip Arabs convicted in nationalistic attacks of their Israeli citizenship or residency and deport them if they have accepted stipends from the Palestinian Authority.
The decision, which could potentially affect hundreds of Palestinian citizens and residents of Israel, was condemned as racist by Arab lawmakers as well as Palestinian officials in the occupied West Bank.
The internationally recognized Palestinian Authority has long provided stipends to the families of Palestinians killed or imprisoned for attacks on Israelis.
Prisoners are widely seen as heroes in Palestinian society, and the PA considers these payments as a form of welfare to needy families. But Israel says they reward violence and serve as an incentive for others to carry out attacks.
Astronomers detect radio signal from atomic hydrogen in distant galaxy
Astronomers from McGill University in Canada and the Indian Institute of Science (IISc) in Bengaluru have used data from the Giant Metrewave Radio Telescope (GMRT) in Pune to detect a radio signal originating from atomic hydrogen in an extremely distant galaxy.
The astronomical distance over which the signal was picked up is so far the farthest. This is also the first confirmed detection of strong lensing of 21 cm emission from a galaxy.
India top country in AI skill penetration globally: Nasscom report
India currently ranks first in terms of AI skill penetration and AI talent concentration and fifth in AI scientific publications, a Nasscom report said.
India’s ‘AI Skills Penetration Factor’ has been reported to be 3.09 — the highest among all G20 and OECD countries.
It shows that India’s tech talent is 3X more likely to have or report AI skills than other countries, according to the report by the National Association of Software and Services Companies (Nasscom) in partnership with Salesforce and Draup.
India is also expected to witness high growth in the demand for data science and AI professionals with an estimate of more than 1 million professionals by 2024.
More than 1,900 AI-focused startups are providing innovative solutions, primarily in the areas of conversational AI, NLP, video analytics, disease detection, fraud prevention and deep fakes detection.
CERC approves proposal to start new market segment for ‘expensive’ power
India’s power regulator has approved a proposal to start a separate spot market segment for ‘expensive’ power, according to an order handed down to the Indian Energy Exchange (IEX), with record demand levels expected this summer.
The approval from the Central Electricity Regulatory Commission (CERC), given to the country’s largest spot power market, is for electricity derived from costlier sources of imported coal and gas, as well as battery storage.
Other power plants operating on low-cost fuel will not be allowed to sell electricity on the new market segment, according to the order, a move seen as ensuring increased electricity availability.
The power regulator fixed a ceiling of 50 rupees ($0.6042) per unit of electricity (kWh), according to the order.
Most of the plants based on costlier fuel operate at low capacity for lack of buyers. However, until last year states purchased electricity at 20 rupees per unit to meet high demand during summer months and crop sowing seasons.
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