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India enters recession as GDP contracts 7.5% in July-September

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India enters recession as GDP contracts 7.5% in July-September

The Indian economy has officially entered a technical recession, with two consecutive quarters of negative growth in gross domestic product (GDP).

Real GDP for the September quarter contracted 7.5 per cent year-on-year, on the back of the steep contraction in manufacturing, construction, and services, data released by the National Statistical Office showed on November 27.

The pace of contraction was slower than analyst estimates. Analysts polled by news agencies Reuters and Bloomberg had expected a contraction of 8.8 per cent and 8.2 per cent, respectively, for the second quarter.

However, the data also showed that the country has begun its gradual recovery following the nationwide lockdown in April, May, and June which had flatlined the economy.

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The real GDP for April-June 2020 had contracted 23.9 per cent, the steepest fall ever (and the first contraction in 40 years). The July-September 2019 quarter had witnessed a GDP growth of 4.4 per cent.

This means that sequentially, India’s GDP grew by 23 per cent in the July-September quarter.

Once again, the agriculture sector was the main driver of the economy. Agriculture grew 3.4 per cent year on year, the same as in the first quarter of the current fiscal year.

The most heartening revival was seen in the manufacturing sector, which rose 0.6 per cent in July-September following a contraction of 39.3 per cent in April-June.

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Electricity, water, gas and other utility services also rose 4.4 per cent after contracting by 7 per cent in April-June.

As a percentage of GDP, government final consumption expenditure contributed 10.9 per cent, lower than 18.1 per cent in April-June and 13 per cent in July-September last year, while private final consumption expenditure was 54.2 per cent of GDP, compared with 56.5 per cent in the same period last year.

Gross fixed capital formation was 29 per cent, almost the same as July-September last year.

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The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.

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The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.

Madras High Court Grants Early Screenings of Vijay’s “Leo” Movie at 7 AM, Urges TN Government to Address Concerns

The Madras High Court has made a landmark decision in favor of the much-anticipated Tamil film “Leo,” starring actor Vijay. In a significant move, the court has granted permission for early screenings of the movie from 7 AM, urging the Tamil Nadu government to swiftly address any issues and facilitate the smooth release of the film. This decision marks a pivotal moment in the realm of Tamil cinema and the entertainment industry at large.

Historical Context:

The Indian film industry, particularly the Tamil film industry, has seen its share of controversies and challenges related to film releases. Issues such as censorship, political disputes, and public sentiment have often played a significant role in shaping the release schedules and screening times for films. Vijay, one of Tamil cinema’s most prominent actors, has been at the center of such controversies in the past. This decision by the Madras High Court is, therefore, particularly noteworthy.

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The Ruling:

The Madras High Court’s decision to permit early screenings of “Leo” comes as a response to a plea filed by the film’s producers. The court, while considering the plea, took into account various factors, including the film’s anticipated popularity and the prevailing circumstances. The court emphasized the importance of accommodating the audience’s interests and allowing them to enjoy the film without disruptions.

A Step Towards Normalization:

The court’s decision signifies a positive shift in the film industry, where release dates and screening times are often mired in controversy. By allowing screenings to commence at 7 AM, the court aims to reduce the chances of public unrest and congestion near theaters, especially in the wake of high-profile film releases.

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The Role of the Tamil Nadu Government:

The Madras High Court, in its ruling, also called upon the Tamil Nadu government to cooperate in ensuring a seamless release for the film. This cooperation extends to providing necessary security measures to maintain law and order around theaters during the early screenings.

Implications for the Entertainment Industry:

The decision is expected to set a precedent for the release of other highly anticipated films, not just in Tamil cinema but also in the broader Indian film industry. The court’s emphasis on the importance of accommodating the audience’s interests could lead to more flexible screening times for movies in the future.

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The Audience’s Perspective:

For moviegoers and fans of Vijay, this decision comes as a welcome relief. They can now look forward to enjoying the film without any undue delays or disruptions, ensuring a memorable cinematic experience.

In conclusion, the Madras High Court’s ruling to allow early screenings of Vijay’s “Leo” at 7 AM while urging the Tamil Nadu government to resolve any issues paves the way for a more audience-centric approach in the film industry. It is a landmark decision that highlights the importance of balancing the interests of filmmakers and the movie-loving public. This judgment is poised to make a positive impact on the release of future films, ushering in a new era of flexibility and convenience for cinema enthusiasts.

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