Indian Economy News & Discussion - Nov 27 2017

The Technology & Economic Forum is a venue to discuss issues pertaining to Technological and Economic developments in India. We request members to kindly stay within the mandate of this forum and keep their exchanges of views, on a civilised level, however vehemently any disagreement may be felt. All feedback regarding forum usage may be sent to the moderators using the Feedback Form or by clicking the Report Post Icon in any objectionable post for proper action. Please note that the views expressed by the Members and Moderators on these discussion boards are that of the individuals only and do not reflect the official policy or view of the Bharat-Rakshak.com Website. Copyright Violation is strictly prohibited and may result in revocation of your posting rights - please read the FAQ for full details. Users must also abide by the Forum Guidelines at all times.
Varuna
BRFite -Trainee
Posts: 20
Joined: 15 Aug 2016 02:45

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Varuna » 29 Apr 2021 14:26

^^ I track that dashboard almost every second day, and it hasn't moved for around 10 days. Not sure if there is lack of reporting, or work has come to a standstill due to the second wave.

Suraj
Forum Moderator
Posts: 14688
Joined: 20 Jan 2002 12:31

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Suraj » 29 Apr 2021 21:34

Yes I noticed that the incremental gain is less than the 2% typically. It appears to be a reporting delay associated with the Covid situation, so I went ahead and posted it anyway since it would thus be representative of middle of the month when I typically do my update.

Kakkaji
BRF Oldie
Posts: 3790
Joined: 23 Oct 2002 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Kakkaji » 14 May 2021 23:47

About 1 million central government civilian postings lying vacant as of FY19

Close to one million civilian postings in the central government, or 22.7% of total sanctioned positions of about four million, were lying vacant at the end of the fiscal year ended March 2019, data from the finance ministry show.

sankum
BRFite
Posts: 1081
Joined: 20 Dec 2004 21:45

Re: Indian Economy News & Discussion - Nov 27 2017

Postby sankum » 15 May 2021 00:41

^^^
Good its saves Rs One Lakh Crore per year in pay expenditure which can be invested in infrastructure. Railways at 12 lakh employees have 3 lakh empty posts but of this 12 lakh 4 lakh are deemed surplus which when vacant will save Rs 40000 Cr/ year.
Why doesn't the post vacant not required eliminated than declared as vacant.

disha
BR Mainsite Crew
Posts: 7660
Joined: 03 Dec 2006 04:17
Location: gaganaviharin

Re: Indian Economy News & Discussion - Nov 27 2017

Postby disha » 18 May 2021 11:36

^Good point. Not sure if the concerned ministries are thinking in that manner. Or even the minister has focus on the "vacancy" and streamlining job postings.

---

Regarding the Jal Jeevan Mission:

https://swarajyamag.com/news-brief/big-move-to-digitise-water-supply-infrastructure-across-rural-india

The National Jal Jeevan Mission in partnership with State Governments and sector partners has started facilitating sensor-based water supply system on pilot basis in several villages.

The data from 11 pilot locations about the daily water supply quantity and regularity are shown on the Jal Jeevan Mission dashboard.


Imagine mapping water distribution and consumption in each and every village and near real time monitoring of it. Just brings direct service delivery to the consumer.


Vips
BRF Oldie
Posts: 3671
Joined: 14 Apr 2017 18:23

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Vips » 25 May 2021 06:03

India attracts record FDI of $81 bn in FY21; Gujarat remains top recipient.

Foreign direct equity investments (FDI) inflows grew by 19 per cent year-on-year (YoY) in financial year 2020-21 (FY21) to a record $59.64 billion, according to data released by the Department for Promotion of Industry and Internal Trade (DPIIT) on Monday.

Despite the disruption caused by the Covid-19 pandemic in FY21, India attracted the highest ever total FDI inflow, which includes equity capital of unincorporated bodies, reinvested earnings, and other capital. Total FDI stood at $81.72 billion, up 10 per cent YoY. In FY20, India attracted gross inflows of $74.39 billion.

“Measures taken by the government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased inflows. The trends are an endorsement of India’s status as a preferred investment destination amongst global investors,” an official statement said.

According to the data shared by the government, Singapore remained the largest source of FDI for the third consecutive year, with a share of 29 per cent. It was followed by the US with 23 per cent share, and Mauritius with 9 per cent.

“Out of top 10 countries, Saudi Arabia is the top investor in terms of percentage increase during FY21. It invested $2.8 billion in comparison to US$ 89.93 million reported in the previous financial year,” the statement said, adding that there was a 227 per cent and 44 per cent increase recorded in FDI equity inflow from the USA and the UK, respectively.

Image
Gujarat was the top recipient of FDI among states, with 37 per cent share of total FDI equity inflows, followed by Maharashtra and Karnataka with 27 per cent and 13 per cent, respectively.

Gujarat attracted the lion’s share of inbound FDI under the computer software and hardware sector at 78 per cent. This was followed by Karnataka and Delhi at 9 per cent and 5 per cent, respectively.

“Majority of the equity inflow of Gujarat has been reported in the sectors ‘Computer Software & Hardware’ (94 per cent) :?: and Construction (Infrastructure) Activities (2 per cent) during the FY21,” the statement said.

Computer software and hardware emerged as the top sector in FY21 with around 44 per cent of the total FDI equity inflow, followed by construction and infrastructure-related activities at 13 per cent, and services sector’s with 8 per cent.

ajit.d
BRFite -Trainee
Posts: 36
Joined: 12 Sep 2007 15:50

Re: Indian Economy News & Discussion - Nov 27 2017

Postby ajit.d » 25 May 2021 18:13

sankum wrote:^^^
Good its saves Rs One Lakh Crore per year in pay expenditure which can be invested in infrastructure. Railways at 12 lakh employees have 3 lakh empty posts but of this 12 lakh 4 lakh are deemed surplus which when vacant will save Rs 40000 Cr/ year.
Why doesn't the post vacant not required eliminated than declared as vacant.

<Lurk mode off>
Sorry Sanku jii, I beg to differ.

This is an opportunity to pack the said vacancies with "Right" people in order to control the narrative and build momentum for implementation of Modiji's central schemes. In the middle of pandemic, this could also be a way of pumping massive amount of money into the economy. Not exactly a conservative fiscal policy, but one that empowers the Right.

Else, you can expect the next non-BJP govt to stuff these vacancies with their people, which creates a headache for next 30 years
<Lurk mode on>

Suraj
Forum Moderator
Posts: 14688
Joined: 20 Jan 2002 12:31

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Suraj » 31 May 2021 20:59

Q4 (Jan-Mar 2021) GDP data is out, up 1.6%: Q4 GDP Data from CSO/MOSPI

Ambar
BRF Oldie
Posts: 2356
Joined: 12 Jun 2010 09:56
Location: Weak meek unkil Sam!

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Ambar » 01 Jun 2021 18:15

The last two quarters of 2020-21 fiscal year were encouraging as evident by the 1.6% growth in Q4, it is unfortunate that we got hit by the 2nd wave just when the economy had begun to recover. It will be hard to predict how the next 18 to 24 months will look like not just in India but around the world. While there is a lot of pent up demand, high household savings thanks to government stimulus and lack of non-discretionary spending, there are also mitigating factors like high inflation ( our wholesale inflation just crossed 10% is now at a 8 yr high ), dispersed labor, construction cost and delays, and supply chain bottlenecks. Government is in a tough spot - spend more to make up for the lack of private sector spending and you end up worsening the inflation, spend less and combined with reduced spending by the private sector then you invite the ire of the state governments.

Ambar
BRF Oldie
Posts: 2356
Joined: 12 Jun 2010 09:56
Location: Weak meek unkil Sam!

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Ambar » 04 Jun 2021 00:51

Deleted
Last edited by Suraj on 04 Jun 2021 04:59, edited 1 time in total.
Reason: Please avoid politics here.

Vadivel
BRFite
Posts: 355
Joined: 07 Feb 2003 12:31
Location: Chennai
Contact:

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Vadivel » 04 Jun 2021 12:09

Excellent document - Niti Aryog's Ranking of states


https://niti.gov.in/writereaddata/files ... preads.pdf

Dashboard

https://sdgindiaindex.niti.gov.in/

{Deleted}
Last edited by Suraj on 05 Jun 2021 03:17, edited 1 time in total.
Reason: The data can stand on its own with MSM opinion crafting.

vijayk
BRF Oldie
Posts: 5754
Joined: 22 Jun 1999 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 09 Jun 2021 01:35

https://www.business-standard.com/artic ... 565_1.html

India's Merchandise Exports Spike 67.39% On Year In May 2021

India's merchandise exports in May 2021 was USD 32.21 billion, an increase of 67.39% over USD 19.24 billion in May 2020 and an increase of 7.93% over USD 29.85 billion in May 2019. India's merchandise exports in Apr-May 2021 was USD 62.84 billion, an increase of 112.29% over USD 29.6 billion in Apr-May 2020 and an increase of 12.44% over USD 55.88 billion in Apr-May 2019.

India's merchandise imports in May 2021 was USD 38.53 billion, an increase of 68.54% over USD 22.86 billion in May 2020 and a decline of 17.47% over USD 46.68 billion in May 2019. India's merchandise imports in Apr-May 2021 was USD 84.25 billion, an increase of 110.73% over USD 39.98 billion in Apr-May 2020 and a decrease of 5.41% over USD 89.07 billion in Apr-May 2019.


In May 2021, the value of non-petroleum exports was USD 26.94 billion, registering a positive growth of 54.06% over USD 17.49 billion in May 2020 and a positive growth of 8.08% over USD 24.92 billion in May 2019. The value of non-petroleum and non-gems and jewellery exports in May 2021 was USD 23.97 billion, registering a positive growth of 45.96% over USD 16.42 billion in May 2020 and a positive growth of 11.51% over USD 21.5 billion in May 2019. The cumulative value of non-petroleum and non-gems and jewellery exports in April-May 2021 was USD 47.59 billion, an increase of 86.64% over USD 25.5 billion in April-May 2020 and an increase of 15.78% over USD 41.11 billion in April-May 2019.


Suraj
Forum Moderator
Posts: 14688
Joined: 20 Jan 2002 12:31

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Suraj » 11 Jun 2021 23:47


arshyam
BRF Oldie
Posts: 4248
Joined: 11 Aug 2016 06:14

Re: Indian Economy News & Discussion - Nov 27 2017

Postby arshyam » 12 Jun 2021 07:59

With Forex Reserves At Record High Of $600 Billion, RBI May Bring In External Financial Consultants To Improve Yields - Swarajya via Yahoo

In a major development, the Reserve Bank of India (RBI) is likely to engage external financial consultants to manage a part of its massive foreign exchange reserves, which are now estimated to be hovering at record high levels of around $600 billion, to improve the yields at a time when the interest rates have hit record low globally, reports Economic Times.

With foreign exchange war chest growing to a size of as much as about a fifth of the Indian GDP, the RBI wants to better safeguard the reserves, given the increasing complexities of managing inflows from multiple channels.

Even in its latest annual report, the RBI had underscored that its agenda was to continue to explore new asset classes, new jurisdictions and markets for deployment of foreign currency assets for portfolio diversification, and in the process "tap advice from external experts, if required".

Select global institutions which include some of the Big Four consulting majors and financial institutions are also said to have informally reached out to RBI in this regard. However, no formal appointment has been made so far.

It should be noted that some of the prominent Southeast Asian central banks are also said to have appointed long-term asset managers to partially manage their foreign currency assets.

Vips
BRF Oldie
Posts: 3671
Joined: 14 Apr 2017 18:23

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Vips » 13 Jun 2021 08:26

Uttar Pradesh gets Rs 10,870 crore for Jal Jeevan Mission.

The Centre has allocated Rs 10,870 crore to Uttar Pradesh under Jal Jeevan Mission in 2021-22 as the state government looks to provide 7.8 million piped water connections across 60,000 villages this year ahead of the assembly polls next year.

The central allocation for the mission has been increased to Rs 10,870.50 crore from Rs 2,571 crore last fiscal and Rs 1,206 crore in 2019-20.

Work under the Jal Jeevan Mission will begin in 60,000 villages in the coming days, people aware of the development said. The government will provide tap water supply in 177 arsenic and fluoride affected habitations this year, they said.

There are 26.3 million households across about 97,000 villages in the state. Out of these, only about three million, or 11.3%, households have tap water supply in their homes at present.

In the last 21 months, the state has provided tap water supply to 2.49 million (9.45%) households. Despite this, there are about 23.3 million households without tap water supply in Uttar Pradesh.

The state had assured availability of Rs 3,348 crore of central fund for the Jal Jeevan Mission last fiscal year, including enhanced allocation of Rs 2,571crore and opening balance of Rs 777 crore. It could utilize only Rs 2,053 crore from this fund.

Union Jal Shakti minister Gajendra Singh Shekhawat has written a letter to UP chief minister Yogi Adityanath, urging him to take necessary measures to accelerate the implementation of the mission.

vinamr_s
BRFite -Trainee
Posts: 57
Joined: 12 Jun 2019 09:36

Re: Indian Economy News & Discussion - Nov 27 2017

Postby vinamr_s » 13 Jun 2021 18:53



This number should be seen with:

1. Total debt on GoI in USD
2. Total repatriable investments by foreign companies (i.e. total USD RBI will have to give to companies willing to repatriate their investment + capital gains + profits back)

Edit: Clarification:

by (1) I mean the debt that GoI has to pay with interest strictly in US dollars, and not the total debt converted to USD.

by “investments by foreign companies” in (2) I mean FDI i.e. total US dollars given to RBI in exchange for rupees to work in India.
Last edited by vinamr_s on 14 Jun 2021 18:36, edited 1 time in total.

arshyam
BRF Oldie
Posts: 4248
Joined: 11 Aug 2016 06:14

Re: Indian Economy News & Discussion - Nov 27 2017

Postby arshyam » 13 Jun 2021 23:12

^^ So what are those numbers looking like ?

vijayk
BRF Oldie
Posts: 5754
Joined: 22 Jun 1999 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Postby vijayk » 13 Jun 2021 23:49

vinamr_s wrote:


This number should be seen with:

1. Total debt on GoI in USD
2. Total repatriable investments by foreign companies (i.e. total USD RBI will have to give to companies willing to repatriate their investment + capital gains + profits back)


https://countryeconomy.com/national-debt/india

Total public debt - (internal and external) 2020 - 2.4 trillion

In 2020 India public debt was 2,427,886 million dollars, has increased 307,132 million since 2019.

This amount means that the debt in 2020 reached 89.56% of India GDP, a 15.67 percentage point rise from 2019, when it was 73.89% of GDP.

If we check the tables we can see the evolution of India debt. It has risen since 2010 in global debt terms, when it was 1,127,257 million dollars and also in terms of GDP percentage, when it amounted to 66.04%.

According to the last data point published, India per capita debt in 2020 was 1,777 dollars per inhabitant. In 2019 it was 1,552 dollars, afterwards rising by 225 dollars, and if we again check 2010 we can see that then the debt per person was 913 dollars .

The position of India, as compared with the rest of the world, has worsened in 2020 in terms of GDP percentage. Currently it is country number 157 in the list of debt to GDP and 75 in debt per capita, out of the 189 we publish.



https://dea.gov.in/sites/default/files/ ... 202020.pdf

India’s external debt continues to be sustainable and prudently managed.
At end-December 2020, India’s external debt was placed at US$ 563.5 billion, recording an increase of US$ 6.8 billion over its level at end-September 2020 (Table 1).
The external debt to GDP ratio decreased to 21.4 per cent as at end-December 2020 from 21.6 per cent a quarter ago.

arshyam
BRF Oldie
Posts: 4248
Joined: 11 Aug 2016 06:14

Re: Indian Economy News & Discussion - Nov 27 2017

Postby arshyam » 14 Jun 2021 07:46

^^ These numbers should be seen with:
1. How much of this is due when?
2. How much is internal vs external?
3. How much is payable in dollars vs rupees?
4. What is the country's annual income (inflow) in dollars? Broken down by type of inflow - export earnings, remittances, FDI, FPI, FII, other forms of foreign currency deposits, etc.

Suraj
Forum Moderator
Posts: 14688
Joined: 20 Jan 2002 12:31

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Suraj » 14 Jun 2021 21:14

India’s Q1 merchandise exports may grow to USD 87.2 billion: Exim Bank
The country’s total merchandise exports are projected to grow 70.1 per cent to USD 87.2 billion in the first quarter of fiscal 2021-22 from USD 51.3 billion in the year, Export-Import Bank of India (India Exim Bank) said.

The non-oil exports may jump 68.5 per cent to USD 78.26 billion in the April-June period as compared with USD 46.4 billion in the corresponding period of fiscal 2020-21, it said.

Base effect drives up IIP growth in April
The index of industrial production (IIP) hit 126.6 in April, marking a 134.4% surge from a year before, driven primarily by a favourable base.

Government officials and analysts cautioned against reading too much into the latest rate of expansion, given that a Covid-induced lockdown in April 2020 had substantially hampered industrial production (IIP had crashed by 57.3%).

In fact, the government released only the index readings for April on Friday, without announcing the growth rates, as comparisons with April 2020 data are fraught with risks of erroneous interpretations.

Nevertheless, at 126.6, the index reading for April is a tad higher than that of 126.5 for April 2019 (before the pandemic). The government also revised up IIP growth to 24.1% for March from 22.4% reported earlier and to -0.6% for January from -0.9%.

Vips
BRF Oldie
Posts: 3671
Joined: 14 Apr 2017 18:23

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Vips » 19 Jun 2021 02:40

del
Last edited by Vips on 19 Jun 2021 03:00, edited 1 time in total.

Vips
BRF Oldie
Posts: 3671
Joined: 14 Apr 2017 18:23

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Vips » 19 Jun 2021 02:47

India's record foreign exchange pile may not be adequate: RBI paper.

India’s record more than $600 billion of foreign exchange reserves might not be good enough, as it falls short on some measures including import cover and liability outflows, according to a new research from the central bank.

“While foreign exchange reserves provide cushions against unforeseen external shocks, levels are often deceptive,” Reserve Bank of India researchers, led by Deputy Governor Michael Debabrata Patra, wrote in the latest monthly bulletin. “A better gauge of external vulnerability is an assessment of specific indicators.”

Foreign exchange reserves surged to $605 billion in the week to June 4 as the RBI mopped up dollars flowing into the nation’s booming stock market as well as via foreign direct investments. The pile is the world’s fifth-biggest after China, Japan, Switzerland and Russia, and is enough to cover 15 months of imports.

Image
That’s less than the 39 months cover offered by Switzerland’s reserves, 22 by Japan’s, 20 by Russia’s and 16 months by China’s pile, according to the RBI researchers. Besides, India’s net international investment position -- which is the assets over liabilities -- is a minus 12.9% of gross domestic product. The minus figure denotes that liabilities owed to foreigners are more than assets.

“These factors warrant a pragmatic assessment of reserve adequacy on FX reserves, including exposure to valuation changes and market risk in a world of heightened global uncertainty,” the researchers said.

In its latest annual report, the RBI had said that given the record pile up of reserves it would explore new asset classes and markets for deployment of foreign currency assets as it seeks to diversify its portfolio and seek higher returns. Currently, the RBI invests only in gold and sovereign debt.

Vips
BRF Oldie
Posts: 3671
Joined: 14 Apr 2017 18:23

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Vips » 19 Jun 2021 03:01

Are our forex reserves adequate?

The growing foreign exchange kitty has created a problem of plenty for the Reserve Bank of India. It’s attracting unwanted attention, along with calls for using the reserves to fund infrastructure expenses, capitalise state-owned banks and better management of the assets in the reserves.

The RBI’s latest monthly bulletin has tried to take the discussion along another channel by pointing out that the reserves may not be as robust as perceived.

The report, while highlighting the $600 billion milestone for forex reserves, pointed out that India currently holds the fifth largest foreign exchange reserves, twelfth largest holding of US treasury securities and tenth largest gold reserves.

But the central bank also made two other observations alongside. One, it stated that the import cover for 15 months provided by our reserves compares poorly with other countries with large forex reserves such as Switzerland (39 months), Japan (22 months), Russia (20 months) and China (16 months) - So 3 trillion + reserves are not so big or huge after all. Two, that the net international investment position of -12.9 per cent of GDP needs to be taken in to account while assessing the adequacy of reserves.

It is not easy to assess the adequacy of forex reserves of a country. As the IMF states, “Assessing the appropriate level of reserves to hold is challenging — not just because of the multiple roles played by reserves, but also because of the complexity of quantifying external risks and vulnerabilities, and the opportunity cost each country faces.”

That said, conventional ratios used to gauge adequacy of forex reserves show a vast improvement now, compared to two years ago. Also, given that the central bank will have to continue market intervention in order to maintain rupee stability, the reserves are likely to grow further.

There is however no need for the RBI to get defensive about the growing reserves. It should instead look for ways to put the reserves to optimum use.

Are reserves adequate?
The moot question is: what is the right way to gauge the adequacy of reserves? The metrics used for this purpose have evolved with the changes in the composition of the external account over the years. Many committees set up by the RBI have deliberated and improved upon these, suggesting the most relevant measures for the country.

While trade based metric such as import cover was the most popular pre-2000, use of debt based indicators became more relevant as external debt grew. The predominance of foreign portfolio flows in the capital account called for gauging the reserves in the context of these flows as well.

If we consider the import cover provided by forex reserves now, it was 15 months towards the end of last month. While the RBI has pointed out that the cover is much lower when compared to other countries, a better way to analyse the number will be by comparing it with past data. Current import cover is, in fact, a vast improvement from the cover enjoyed historically. For instance, the import cover in March 2019 was 9.6 months and in September 2013, it was at an abysmal 6.6 months.

Another metric used to measure forex reserves — the ratio of short-term debt (based on original maturity) to reserves — has also improved of late. This ratio has declined to 17.7 per cent towards the end of December 2020 from 26.3 per cent in March 2019. It stood at a high of 34.2 per cent in September 2013.

While the RBI is not wrong in pointing out that we have more external liabilities than external assets in the IIP, the higher holding of reserves currently, give comfort on one of the most volatile component of our external account, portfolio flows. The ratio that takes into account more volatile portfolio flows — ratio of volatile capital flows (including cumulative portfolio inflows and outstanding short-term debt) to reserves — has improved to 67 per cent in December 2020, from 86.7 per cent in March 2019 or 97.3 per cent in September 2013.

Reserve accretion may continue
Given the stance of global central banks to continue their bond purchases and to maintain interest rates at ultra-low levels, global investors are likely to remain flush with funds, at least until first half of 2022 and the hunt for higher yield and better growth will bring these investors to Indian equity and debt market in the near future. The RBI will have to continue buying dollars in this scenario to maintain stability in rupee movement.

The reserve accretion is therefore largely due to the policies of other central banks and there is no need for the RBI to be defensive about the growing pile of reserves. As the Governor, Shaktikanta Das, stated in Nani Palkhivala Memorial Lecture this January, “EMEs typically remain at the receiving end. In order to mitigate global spillovers, they have no recourse but to build their own forex reserve buffers, even though at the cost of being included in currency manipulators list or monitoring list of the US Treasury. I feel that this aspect needs greater understanding on both sides so that EMEs can actively use policy tools to overcome the capital flow related challenges.”

Also with most central banks likely to begin monetary policy normalisation by 2022 or 2023, de-leveraging and risk-off trade can cause volatility in financial markets and the reserve buffer will be handy to absorb such shocks.

The central bank should however begin to seriously consider diversification of assets held in its reserves away from US treasury securities which do not yield any interest and also carry risk of capital loss. Engaging an external consultant to recommend apt allocation is the way forward to make the most from the reserve holdings.

Kakkaji
BRF Oldie
Posts: 3790
Joined: 23 Oct 2002 11:31

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Kakkaji » 20 Jun 2021 07:47

Jal Jeevan Mission: About 7.99 lakh households in Assam have tap water connections, rise of 10 pc from 2019, says govt

About 7.99 lakh households in Assam have tap water connections, a rise of 10 per cent from 2019, the Jal Shakti Ministry said on Saturday, as it allocated a grant of Rs 5,601.16 crore to the state to expedite the implementation of Jal Jeevan Mission.

Union Jal Shakti Minister Gajendra Singh Shekhawat, while approving this four-fold increase in allocation, assured full assistance to the state for making provision of tap water supply in every rural home by 2024, the ministry said in a statement.

The ministry further said that Assam has already approved schemes for 41.9 lakh tap water connections and work orders for about 17.85 lakh connections have been issued in 2021-22.

n Assam on August 15, 2019, at the time of launch of the Jal Jeevan Mission, only 1.11 lakh (1.76 per cent) households, out of a total of 63.35 lakh households in 25,335 villages, had tap water supply. In the last 22 months, 6.88 lakh households (10.87 per cent) in the state have been provided tap water connections, thus 7.99 lakh households (12.63 per cent) have tap water supply.

The state has to provide tap water supply to the remaining 55.35 lakh households in the next three years. To achieve this task, Assam has planned to provide connections to 22.63 lakh households in 2021-22, 20.84 lakh households in 2022-23, and 13.20 lakh tap water connections in 2023-24.

The Jal Shakti Ministry this year allocated a grant of Rs 5,601.16 crore to Assam under the Jal Jeevan Mission, a four fold increase from Rs 1,608.51 crore in 2020-21.

chetak
BRF Oldie
Posts: 25795
Joined: 16 May 2008 12:00

Re: Indian Economy News & Discussion - Nov 27 2017

Postby chetak » 20 Jun 2021 13:22

a lesson in economics


Image

Suraj
Forum Moderator
Posts: 14688
Joined: 20 Jan 2002 12:31

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Suraj » 21 Jun 2021 23:06

First trial run of double stacked container load from Mundra Gujarat to NCR on the WDFC
This is going to strongly drive Mundra port growth given the delays around JNPT and MH govt interference.

disha
BR Mainsite Crew
Posts: 7660
Joined: 03 Dec 2006 04:17
Location: gaganaviharin

Re: Indian Economy News & Discussion - Nov 27 2017

Postby disha » 24 Jun 2021 23:17

This nonsense article on economy came out of the stables of swarajyamag today.

https://swarajyamag.com/economy/we-may-be-at-the-starting-point-of-an-inflationary-depression

There is general discussion on US Fed and central bankers veering into Indian situation and author making a mess out of it. Author introduces a nonsensical term like inflationary depression and makes a mumbo-jumbo of "deflation" prior to 1919 in USA.

Even though the author makes some cogent points on the "bifurcation of inflation" (my term), and argues for strict monetary policies in US (and West), contradicts himself with the following statement:

What About The Indian Economy?

The less said the better, I guess. When Nirmala Sitharaman and Shaktikanta Das occupied the positions of Finance Minister and RBI Governor — the two most critical positions from an economic perspective — I had some hope.

Both these people knew little about economics from an Austrian perspective, and were starting at ground zero. When you know little, there is a chance that you will look at the problems with an open mind. This could have led them to the altar of the Mises Institute.

But, instead, they have allowed the neo-Keynesians within these institutions to run on steroids and they have done the exact opposite of what they ought to be doing — ie, raising rates, encouraging savings, curtailing government expenditure, deregulating, etc.

If you think the Indian government bungled big time on Covid, just wait till we face the full consequences of the actions of our economic planners. The Covid missteps will appear like a misdemeanour.

Shanmuganathan N is the CIO at Plus43 Wealth Advisors. He can be contacted at shan@plus43capital.com.



My take: Nonsense of article. Author makes argument for strict monetary policy for US Fed and loose monetary policy for India RBI. The best case I can think of is that the author made money in the US stock market and seeing that the valuations are high wants to make money off Indian stock market. Hence the policy prescriptions that will aid the author's own economic well being playing in both US and Indian stock markets.

Varuna
BRFite -Trainee
Posts: 20
Joined: 15 Aug 2016 02:45

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Varuna » 30 Jun 2021 18:12

Since there hasn't been an update by Suraj on the Jal Jeevan Mission for the last 2 months, I'm adding an entry:

30 Jun 2021
Image

Almost 40% coverage now. All states above 10% now.

Here is the live dashboard.

Prior statuses:
26 Apr 2021
18 Mar 2021
21 Feb 2021
15 Jan 2021
18 Dec 2020
15 Nov 2020
15 Oct 2020
20 Sep 2020
15 Aug 2020

Suraj
Forum Moderator
Posts: 14688
Joined: 20 Jan 2002 12:31

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Suraj » 30 Jun 2021 21:45

Thanks a lot, Varuna :) Nice to see someons stepping up - we can always use more motivated folks doing that.

Uttam
BRFite
Posts: 570
Joined: 15 Apr 2003 11:31
Location: USA

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Uttam » 01 Jul 2021 23:41

If memory serves me right, this is the first major outcome of the new PLI schemes:

Wistron, Foxconn, Dell among 14 to get nod under PLI scheme for IT hardware

The government on Thursday said 14 companies, including Dell, Lava, Dixon, Wistron and Foxconn, have received approval under the Production Linked Incentive Scheme (PLI) for IT hardware.

Over the next four years, these companies are expected to fuel a total production of over Rs 1.61 lakh crore, and generate direct employment opportunities for over 36,000 people.



The PLI scheme for IT hardware, which was notified on March 3, 2021, provides an incentive of 1 to 4 per cent to eligible companies on net incremental sales over the base year of FY 2019-20 of goods under target segments that are manufactured in India for a period of four years (FY22 to FY25).


Domestic value addition is expected to grow from the current 10-15 per cent to 25-30 per cent, it added.

Uttam
BRFite
Posts: 570
Joined: 15 Apr 2003 11:31
Location: USA

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Uttam » 02 Jul 2021 20:07

Daily toll collection via FASTag reaches level recorded before second wave

The toll collection across the country through FASTag touched Rs 103.54 cr with 6.3 mn transactions on July 1, 2021


Toll collection in June 2021 increased to Rs. 2,576.28 crore, which is around 21 per cent higher than Rs. 2,125.16 crore collected in May 2021. With around 34.8 million users, FASTag penetration across the country is at around 96 percent and many toll plazas having 99% penetration.


“As per an estimate, FASTag will save around 20,000 crore rupees per year on fuel, that will save precious foreign exchange and help the environment as well,” the ministry added.

“The constant growth and adoption of FASTag by the highway users has reduced the waiting time at NH Fee Plazas significantly,” said MoRTH.

In a separate press note, the National Highways Authority of India (NHAI) said: “The constant growth and adoption of FASTag by the highway users have reduced the waiting time at NH Fee Plazas significantly.”




That 20K crores is just the fuel saving. The saving of time, stress on engines, etc. will add a lot more to the economic saving.

Finally, the impact in terms of this step helping economic formalization is enormous. Many people hated the idea of FASTag because that forced them to pay using white money. PLUS the toll booth contractors used to pilfer a lot of cash toll collection, adding to the black money in the economy. The cash toll booths therefore further strengthened the politician-gangster nexus.

Vamsee
BRFite
Posts: 663
Joined: 16 Mar 2001 12:31

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Vamsee » 02 Jul 2021 21:02

^^^^^^
Uttam,

PLI scheme for mobile manufacturing (assembly) is different from PLI for IT hardware manufacturing (that you posted above). We now have both in active implementation phase.

Regards,
Vamsee

Vips
BRF Oldie
Posts: 3671
Joined: 14 Apr 2017 18:23

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Vips » 04 Jul 2021 06:52

UPI transactions surge to Rs 5.47 lakh crore in June.

UPI enabled digital transactions surged 11.6 per cent month-on-month to Rs 5.47 lakh crore in June this year, NPCI data showed on Thursday.

In May 2021, the UPI (unified payments interface) transactions stood at Rs 4.91 lakh crore.

In terms of numbers, there were as many as 2.80 billion (280 crore) transactions during the month under review, as against 2.53 billion (253 crore) in May, according to the data.

chetak
BRF Oldie
Posts: 25795
Joined: 16 May 2008 12:00

Re: Indian Economy News & Discussion - Nov 27 2017

Postby chetak » 04 Jul 2021 18:35

India's foreign exchange (forex) reserves surged to all-time high as it rose by $5.066 billion to touch a record high of $608.999 billion in the week ended June 25, the Reserve Bank of India (RBI) data showed on Friday.


https://www.livemint.com/economy/indias-forex-reserves-rise-to-lifetime-high-of-609-billion-11625229308114.html#:~:text=India's%20foreign%20exchange%20(forex)%20reserves,RBI)%20data%20showed%20on%20Friday.

putnanja
BRF Oldie
Posts: 4559
Joined: 26 Mar 2002 12:31
Location: searching for the next al-qaida #3

Re: Indian Economy News & Discussion - Nov 27 2017

Postby putnanja » 06 Jul 2021 17:45

The rupee exchange rate is dropping. Is it due to RBI purchasing more dollars to keep the rupee rate low? Earlier that was also one of the reasons for our foreign reserves to go up. Now that oil prices are raising and inflation is also going up, does it make sense to let rupee strengthen to around 71-72 levels?

Uttam
BRFite
Posts: 570
Joined: 15 Apr 2003 11:31
Location: USA

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Uttam » 06 Jul 2021 18:27

putnanja wrote:The rupee exchange rate is dropping. Is it due to RBI purchasing more dollars to keep the rupee rate low? Earlier that was also one of the reasons for our foreign reserves to go up. Now that oil prices are raising and inflation is also going up, does it make sense to let rupee strengthen to around 71-72 levels?


Yes, RBI is buying hoards of USD to keep INR low mainly to support the economy. Low INR helps in making exports more competitive and imports less competitive. Given the economic crisis due to Covid, this is the main way RBI helps in bringing the economy back on track. Remember that exports generate employment whereas imports reduce local employment.

I am sure it hurts when you pay a high price on the petrol pump, but the need of the hour is to generate as much employment as possible.

Vips
BRF Oldie
Posts: 3671
Joined: 14 Apr 2017 18:23

Re: Indian Economy News & Discussion - Nov 27 2017

Postby Vips » 07 Jul 2021 05:56

India's external debt rises to 21.1% of GDP at $570 bn.

India’s external debt as of end-March 2021 stood at $570 billion, recording an increase of $11.5 billion over its level at end-March 2020. The external debt to GDP ratio also increased to 21.1 per cent at end-March 2021 from 20.6 per cent at end-March 2020, figures released by the Reserve Bank of India (RBI) showed.

Valuation loss due to the depreciation of the US dollar vis-à-vis Indian rupee and major currencies such as euro, SDR and pound sterling was placed at $6.8 billion. Excluding the valuation effect, the increase in external debt would have been $4.7 billion instead of $11.5 billion at end-March 2021 over end-March 2020.

Commercial borrowings remained the largest component of external debt, with a share of 37.4 per cent, followed by non-resident deposits (24.9 per cent) and short-term trade credit (17.1 per cent).

At end-March 2021, long-term debt (with original maturity of above one year) was placed at $468.9 billion, recording an increase of $17.3 billion over its level at end-March 2020.

The share of short-term debt (with original maturity of up to one year) in total external debt declined to 17.7 per cent at end-March 2021 from 19.1 per cent at end-March 2020; the ratio of short-term debt (original maturity) to foreign exchange reserves declined to 17.5 per cent at end-March 2021 (22.4 per cent at end-March 2020).

Short-term debt on residual maturity basis (ie, debt obligations that include long-term debt by original maturity falling due over the next twelve months and short-term debt by original maturity) constituted 44.6 per cent of total external debt at end-March 2021 (42.4 per cent at end-March 2020) and stood at 44.1 per cent of foreign exchange reserves (49.6 per cent at end-March 2020).

US dollar denominated debt remained the largest component of India’s external debt, with a share of 52.1 per cent at end-March 2021, followed by the Indian rupee (33.3 per cent), yen (5.8 per cent), SDR (4.4 per cent) and the euro (3.5 per cent).

The borrower-wise classification shows that the outstanding debt of both government and non-government sectors increased at end-March 2021.
The share of outstanding debt of non-financial corporations in total external debt was the highest at 40.4 per cent, followed by deposit-taking corporations (except the central bank) (28.2 per cent), government (18.8 per cent) and other financial corporations (8.1 per cent).

The instrument-wise classification shows that the loans were the largest component of external debt, with a share of 34.8 per cent, followed by currency and deposits (25.2 per cent), trade credit and advances (17.6 per cent) and debt securities (17.0 per cent).

Debt service (principal repayments plus interest payments) increased to 8.2 per cent of current receipts at end-March 2021 as compared with 6.5 per cent at end-March 2020, reflecting higher repayments and lower current receipts.

rsingh
BRF Oldie
Posts: 3686
Joined: 19 Jan 2005 01:05
Location: Pindi
Contact:

Re: Indian Economy News & Discussion - Nov 27 2017

Postby rsingh » 08 Jul 2021 00:49

Why we have devalue again and again to increase exports. OECD countries do not do this. Does it mean that our exports are of low quality, we have to lower the Ruppee in order to maintain exports.


Return to “Technology & Economic Forum”

Who is online

Users browsing this forum: bharathp, Yagnasri and 18 guests