Key takeaways from the Economic Survey of 2020-21

Budget, Economy, Uncategorized
Key takeaways from the Economic Survey of 2020-21 The Survey expects the Indian economy to grow by 11% in real terms (adjusted for inflation) during 2021-22. This is close to the growth of 11.5% forecast by the International Monetary Fund (IMF). This is good news. 11% growth from this means that the Indian GDP in 2021-22 is expected to be at ₹149.2 lakh crore, which is just 2.4% more than the GDP of ₹145.7 lakh crore in 2019-20The gross tax revenue earned by the government during the period April to November 2020 fell by 12.6% to ₹10.26 lakh crore.Other than gross tax revenue, the amount of money the government expected to earn through the disinvestment route, by selling its stake in public sector enterprises, has taken major beating this year. Of the…
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Increased Tax collection to car sales indicate economic pickup

Economy
Increased Tax collection to car sales indicate economic pickup GST mop-up at 7-month high Automobile manufacturers showed significant signs of recovery as they dispatched 13 per cent more vehicles to dealers in September as compared to the same period last year Manufacturing PMI grows fastest in 8 years Railways back on track, stems fall in freight traffic to 9% UPI hits Rs 3.3-trn transactions in Sept
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August 20 brings Some good macro news

Economy
Some good macro news - Fertilizer production is up for the third month in a row. Tractor sales are up 35% YoY for July as well Aug 20 Car Sales also up 20% over Aug19 National highway toll data from NPCI. As a proxy for inter/intra state vehicular movement, shows a good recovery after tanking in Apr-20. Second highest number and value of toll collected ever, after Feb-20 peaks.
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