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Friday,26-February-2021

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China: Tibet’s GDP rose 191% since Dalai Lama fled

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China-GDP

Tibet’s 2018 GDP has reached $22 billion — about 191 times more than the 1959 figure calculated at comparable prices, said a white paper released on Wednesday by China.

The Tibetan spiritual leader Dalai Lama had fled the country in 1959. And in the next 60 years the hard work of the people of Tibet saw agriculture and animal husbandry become modernised, documented the State Council Information Office’s document titled ‘Democratic Reform in Tibet — Sixty Years On’.

The added value of agriculture, forestry, animal husbandry, fisheries and related service industries rose from 128 million yuan in 1959 to 13.41 billion yuan in 2018, Xinhua news agency reported.

Tibet’s modern industry started from scratch and has grown steadily, the white paper said, adding that Tibet’s industrial added value increased from 15 million yuan in 1959 to 11.45 billion yuan in 2018.

More than 100,000 farmers and herdsmen have earned more through tourism and Tibet has become an international tourist destination, it said.

Infrastructure has been improved in Tibet, as a comprehensive transportation network composed of highways, railways and air routes has been formed, it added.

Business

Sensex up 500 points, Nifty reclaims 15,000

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Growth chart. (File Photo: IANS)

The key Indian equity indices opened on a positive note on Thursday with the BSE Sensex rising over 500 points.

The Nifty50 on the National Stock Exchange also rose above the 15,000 mark.

Healthy buying activity was witnessed in metal, IT, banking and finance stocks.

Around 9.45 a.m., Sensex was at 51,323.82, higher by 542.13 points or 1.07 per cent from its previous close of 50,781.69.

It opened at 51,207.61 and has so far touched an intraday high of 51,386.12 and a low of 51,057.74 points.

The Nifty50 on the National Stock Exchange was trading at 15,149.65, higher by 167.65 points or 1.12 per cent from its previous close.

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As oilcos wait & watch, fuel prices remain steady

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Petrol

Oil marketing companies on Thursday continued with their wait and watch strategy and kept retail prices of petrol and diesel unchanged for the second consecutive day.

Accordingly, price of petrol continued to be at Rs 90.93 a litre and diesel Rs 81.32 a litre in the capital.

Elsewhere in the country as well, fuel prices remained unchanged after oil companies increased its pump prices on 13 of the last 17 days.

In the 13 increases since February 9, price have gone up by Rs 3.98 per litre for petrol while diesel rate has risen by Rs 4.19 a litre in Delhi.

The price pause on Thursday may be momentary as global oil prices are on the boil with benchmark Brent crude prices remaining above $67 a barrel. The product prices in international market has also firmed up over restricted supplies and a demand pick up.

The increase of fuel prices in the previous weeks has taken petrol across historic high levels of Rs 100 a litre in several cities across the country.

In Mumbai, petrol price is Rs 97.34 a litre while diesel is Rs 88.44 a litre.

In all other metros, petrol is over Rs 90 a litre mark while diesel is well over Rs 80 a litre. Premium petrol crossed Rs 100 per litre mark in several cities of Rajasthan, Madhya Pradesh and Maharashtra a few days back.

The petrol and diesel prices have increased 25 times in 2021 with the two auto fuels increasing by Rs 7.22 and Rs 7.45 per litre respectively so far this year.

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Traders across India to go on strike on Friday

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Going ahead with their protest against arbitrary regulations and changes in the Goods and Services Tax (GST) and alleged norm violations by e-commerce giants, traders across the country will go a day-long strike on Friday.

In a statement, the Confederation of All India Traders (CAIT) the umbrella body which has called for the strike said that over 8 crore traders belonging to more than 40,000 trade associations across country will observe the ‘Bharat Vyapar Bandh’ to protest against some of the “draconian, arbitrary and critical” amendments made recently in GST rules.

It will also urge the government to rectify glitches in e-commerce for preventing violation of law by foreign e-commerce companies.

The All India Transport Welfare Association (AITWA) an apex body of 1 crore transporters have already supported the strike and has also announced ‘Chakka Jam’ of transport sector on Friday all over India.

CAIT Secretary General Praveen Khandelwal said that not only traders but even small industries, hawkers, and women entrepreneurs among others will also join the bandh.

Further, associations of chartered accountants and tax advocates have supported the strike and have informed their clients not to visit their offices on Friday.

Khandelwal further said that on Friday as a mark of protest, ‘dharna’ will be held in more than 1,500 towns and cities across states and no traders will login to GST portal to register their protest.

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