30Jan 2021 by Asmeet No Comments

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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03Oct 2020 by Asmeet No Comments

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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02Sep 2020 by Asmeet

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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31Aug 2020 by Asmeet

Q1FY21 Indian Economy contracts by 23.9%

Economy
Q1FY21 #Economy GDP at constant prices: ₹26.90 lkh cr vs. ₹35.35 lkh cr (YoY), a contraction of 23.9% vs. 5.2% growth (YoY). GVA at constant prices: ₹25.53 lkh cr vs. ₹33.08 lkh cr (YoY), a contraction of 22.8%. These numbers to undergo revision in next release - 27th Nov.
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25Aug 2020 by Asmeet
Rs2,000 currency notes not printed in FY1920: RBI

Rs2,000 currency notes not printed in FY1920: RBI

Economy
Currency notes of Rs 2,000 were not printed at all in financial year 2019-20, according to the Reserve Bank of India (RBI).  As per RBI's Annual Report for 2019-20 the supply of banknotes during the period was lower by 23.3% than in the previous year, mainly due to the disruptions caused by the outbreak of Covid-19 and the ensuing lockdown.  The number of Rs2,000 notes in circulation came down from 329.10 crore pieces in March 2019 to 273.98 crore notes in March 2020.  The quantity of Rs2,000 denomination notes constituted 2.4% of the total volume of notes at end of March 2020, down from 3% at end-March 2019. In terms of value, the share of Rs2,000 notes has come down to 22.6% at end of the financial year 2019-20, down…
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24Aug 2020 by Asmeet
Agriculture Prospects in India Soar with Rains Most Well-Spread In 3 Years: CRISIL

Agriculture Prospects in India Soar with Rains Most Well-Spread In 3 Years: CRISIL

Uncategorized
Early onset and good distribution of the south-west monsoon has paved the way for robust kharif output, raising hopes in hinterland and the farm-gate profits during this season are set to increase 3% to 5% this year, says ratings agency CRISIL. As on 21 August 2020, rains were 7% above the long-period average. Good spatial and temporal distribution has prompted sowing across crops in most states.   CRISIL Research says it expects a 2-3% rise in sown area on-year at about 109 million hectares for kharif season 2020. The area under paddy cultivation is set to increase because of both rains and reverse migration of labour to the eastern and southern states
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