nonsense article. The survey also says UP has made most progress.
Yes, there are two Indias, and they are not getting any closer together
The fifth National Family Health Survey's findings make it clear that there are indeed two Indias - one represented by Tamil Nadu and another by Bihar, writes T N Ninanwap.business-standard.com
Indian Economy : News,Discussions & Updates
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Hey @Guynextdoor...been a while I seen you. Hope you are well.
oh I'm fine my friend. Hope you are doing too
India on Track to Post World-Beating Growth as Spending Revives
India is set to regain its position as the world’s fastest growing major economy this year, but any euphoria is likely to be tempered by concerns around a resurgent virus outbreak.Gross domestic product will grow 9.2% in the fiscal year ending March 2022, according to the first official estimate released by the Statistics Ministry Friday. That’s slightly slower than a 9.5% expansion forecast by the Reserve Bank of India as well as the economists surveyed by Bloomberg.
With one quarter still left in the fiscal year and parts of the economy already facing fresh curbs to stem the omicron variant, the estimate will likely undergo revisions. The uncertainty spawned by the pandemic has so far kept fiscal and monetary policies accommodative to aid the a durable recovery, even as global peers have begun dialing back stimulus measures to combat inflation.
A sustained pace of growth is key to attracting investors to India, which is in the midst of a massive privatization drive, besides boosting manufacturing and creating jobs.
“We do have pockets of revenge demand coming in spurts but consumption still needs some hand-holding,” said Shubhada Rao, founder at QuantEco Research in Mumbai, who reckons that the impact of India’s ongoing third virus wave may have been factored in these estimates. “We are looking at 7.5% growth next year.”
Digging Deeper
- Gross value added, a key input of GDP that strips out the impact of taxes on products, is seen increasing 8.6%. Manufacturing output is estimated to rise 12.5%, while mining sector is seen expanding 14.3%. Agriculture, which provided some cushion to the economy last year, is projected to grow 3.9%
- Gross fixed capital formation, a proxy for investment, is forecast to increase 15%, whereas government spending is seen increasing 7.6%. The ministry sees a 6.9% jump in consumption as pent-up demand drove sales
- The growth numbers, which benefit from last year’s sharp contraction, will serve as a key input to Finance Minister Nirmala Sitharaman’s annual federal budget, due to be presented next month
- India’s growth is seen moderating to 8.5% next year, according to a forecast by the International Monetary Fund released in October
India's exports touch $300 billion in Apr-Dec: Goyal
Goyal predicted that India's exports will touch $400 billion by the end of this fiscal.
GDP to rise 9.2% in FY 2021-22 as against 7.3% contraction in previous fiscal: Govt data
This is mainly due to improvement in the performance of agriculture and manufacturing sectors, the National Statistical Office (NSO) said.
India's forex reserves to face $256 billion overseas debt challenge in next 12 months
External debt worth $256 billion matures over the next 12 months, according to the September data released by the finance ministry. This is about 43 per cent of the September external debt outstanding at $596 billion.
This will put a BRAKE on Arms imports as well
@Ashwin @_Anonymous_
@randomradio @vstol Jockey
India's forex reserves to face $256 billion overseas debt challenge in next 12 months
External debt worth $256 billion matures over the next 12 months, according to the September data released by the finance ministry. This is about 43 per cent of the September external debt outstanding at $596 billion.m.economictimes.com
This will put a BRAKE on Arms imports as well
@Ashwin @_Anonymous_
@randomradio @vstol Jockey
That doesn't affect the govt. It only affects the corporate sector, and they will just refinance it.
India's forex reserves to face $256 billion overseas debt challenge in next 12 months
External debt worth $256 billion matures over the next 12 months, according to the September data released by the finance ministry. This is about 43 per cent of the September external debt outstanding at $596 billion.
This will put a BRAKE on Arms imports as well
@Ashwin @_Anonymous_
@randomradio @vstol Jockey
Some part of NRI deposits would
Also be maturing
The real problem is that US interest rates will go up from March onwards and US FED will raise interest rates 4 times this year
This is because of high inflation
Now that will put pressure on the Rupee. It will need RBI intervention ,both by selling dollars and raising interest rates
Commodity prices , trade deficit are already high
Once Interest rates go up , corporate Refinance will be affected
For the corporates, refinancing their loans is still cheaper than paying it all off even with higher interest rates in the US.
India's forex reserves to face $256 billion overseas debt challenge in next 12 months
External debt worth $256 billion matures over the next 12 months, according to the September data released by the finance ministry. This is about 43 per cent of the September external debt outstanding at $596 billion.
One sincerely hopes this isn't the future of MII. By God, frankly I'm tired of seeing these charlatans masquerading as technocrats & entrepreneurs when they're just a neo version of our historical rentier class aka banias.
This one industry is where by dominating it we can dominate all of South Asia.
We want FTA with leading economies. There is no way farming as it is now is viable under this circumstance. The only way out is farming on industrial scale. Small scale intensive farming will never be profitable for farmers. It's impossible. Never happened anywhere else in the world. Won't happen here.
On manufacturing, GST still needs a lot of work. Other barriers in imports need to worked upon. Energy and land is a problem too. We are working on transportation but as it is now, it's a problem too. A very large amount of funds is wasted which could be used to galvanize businesses.