India Indian Economy + Infra Archive

[Nilgiri]

UPI reaches a watershed moment with digital transaction value shooting past $1-trillion mark in FY22

The payments system crossed the 500-crore mark in volumes for the first time in March

www.moneycontrol.com

GST collections in March cross Rs 1.42 lakh crore, highest ever

The gross GST collection in March 2022 is all-time high breaching earlier record of Rs 1,40,986 crore collected in the Month of January 2022, Finans Ministry said.

www.businesstoday.in

India's March exports touch $40.38 billion: Govt source

Merchandise exports for the financial year 2021/22 ending in March touched $417.81 billion while imports rose to $610.22 billion, the source said.

economictimes.indiatimes.com

 

[Nilgiri]

The Indian economy is largely a service-based one. And the past few years has only seen that trend intensify. With one big exception: Pharmaceuticals.

The comments section is also good to browse and have a read.

 

[Nilgiri]

 

[Nilgiri]

PM Modi's food security scheme averted rise in extreme poverty: IMF study

An IMF study — Pandemic, Poverty, and Inequality: Evidence from India — has stated that Prime Minister Narendra Modi’s food security scheme, PMGKAY, prevented a rise in extreme poverty in India.

www.indiatoday.in

Working paper found here:

https://www.imf.org/en/Publications/WP/Issues/2022/04/05/Pandemic-Poverty-and-Inequality-Evidence-from-India-516155

 

[Nilgiri]

India's tax revenues soar to a record high of Rs 27.07 trillion in FY22

In terms of tax buoyancy, the overall tax buoyancy was 1.9 in FY22, with direct tax buoyancy at 2.8 and indirect tax buoyancy at 1.1.

www.business-standard.com

~ 355 billion USD

Of course this is not total govt revenue which includes state govts, non-tax revenues etc too....that total will come to a bit more than double (looking at last few years). So we could very well see about 800 billion dollars in total govt revenue for the completed FY22.

 

[Blackbeardsgoldfish]

India poised for record wheat harvest​

NEW DELHI, INDIA — Favorable weather in major wheat growing areas has India heading for a record harvest of 110 million tonnes from 30.9 million planted hectares for the 2022-23 marketing year (April-March), compared with 109.6 million tonnes on 31.1 million hectares last year, according to a Global Agricultural Information Network report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).

https://www.world-grain.com/articles/16772-india-poised-for-record-wheat-harvest

 

[Joe Shearer]

Actually on my itinerary for next four years before graduation

You are not yet a graduate?

 

[Paro]

You are not yet a graduate?

I see Joe’s mind falling apart revisiting his memories debating with lonewolf

 

[Joe Shearer]

I see Joe’s mind falling apart revisiting his memories debating with lonewolf

The little squirt.

 

[Gessler]

~$670 billion total exports

https://twitter.com/i/web/status/1514258820952133632

 

[Nilgiri]

PLI scheme draws investment of ₹2.34 lakh crore in 14 sectors

Automobile and auto components, advanced chemistry cell batteries, specialty steel and high-efficiency solar panels have attracted the maximum interest.

economictimes.indiatimes.com

~ 31 billion USD


Automobile and auto components, advanced chemistry cell batteries, specialty steel and high-efficiency solar panels have attracted the maximum interest.

 

[Nilgiri]

https://www.financialexpress.com/economy/world-bank-report-extreme-poverty-in-india-eased-12-3-percentage-points-during-2011-2019/2494297/

Link to paper:

Open Knowledge Repository

The last expenditure survey released by India’s National Sample Survey organization dates back to 2011, which is when India last released official estimates of poverty and inequality. This paper sheds light on how poverty and inequality have...

openknowledge.worldbank.org

 

[Joe Shearer]

https://www.financialexpress.com/economy/world-bank-report-extreme-poverty-in-india-eased-12-3-percentage-points-during-2011-2019/2494297/

Link to paper:

Open Knowledge Repository

The last expenditure survey released by India’s National Sample Survey organization dates back to 2011, which is when India last released official estimates of poverty and inequality. This paper sheds light on how poverty and inequality have...

openknowledge.worldbank.org

Good one.

Chewy reading, but good for the intellect's gums.

 

[Paro]

.

 

[crixus]

.

Come on man , I still remember the landline remain dead for months and you have to pay a annual tribute to line man to fix them , they killed themselves due to bad service and sarkari attitude .... Next question will be who killed Indian postal service

 

[Paro]

Come on man , I still remember the landline remain dead for months and you have to pay a annual tribute to line man to fix them , they killed themselves due to bad service and sarkari attitude .... Next question will be who killed Indian postal service

lol, you saw the video? it has nothing to do with the thumbnail image. From the limited conversations, I had with a few distributors very long ago BSNL was corrupted to the core.

 

[Nilgiri]

Indian Aviation | Air India: How Indian aviation's biggest turnaround story is taking shape

While a major overhaul of Air Indias operations will have to wait till a CEO arrives, the Tatas have put in place a 100-day plan to improve services and on-time performance to make an immediate impact on fliers.

economictimes.indiatimes.com

 

[Soviet indian]

Good one.

Chewy reading, but good for the intellect's gums.

Jobs have reduced by 2 crore

 

[Joe Shearer]

Jobs have reduced by 2 crore

A difficult, even impossible thought to sell to the social media crowd.

 

[Nilgiri]

Jobs have reduced by 2 crore

A difficult, even impossible thought to sell to the social media crowd.

What is even more concerning is the precipitous drop in labour participation rate from already low 46% to something like 40%.

Lot of young folks have simply given up looking for a job....and subsist on trickle down effect of others employment/savings (and govt transfers as well). I think informal contract jobs in services provide some of the slack too, but hard to say how much.

Some of this was of course result of the covid pandemic + shutdown of economy....and might see improvement later back to pre-covid level.

But 46% already being low is the major issue structurally. Unemployment rate (of wherever between 0 - 15%) really does not mean much with LPR this low.

The supply side of Indian economy is woefully behind still.

These numbers again improve to some respectability if you look at India minus (UP+Bihar etc)... those population concentrations being as underdeveloped as they are really pull down the Indian average significantly.

India can only reach middle tier development if those populations are unlocked to the potentials seen in other places of the country.

@Jackdaws (checking if you checking in)