- Oct 14, 2020
I would take this report with a bucket-full of salt.
I am not sure how these things work and if these predictions are true at all but below two articles might shed some light on this. (One of them is behind paywall but few lines that are visible mention that we have seen increase in tax collection while decrease in GDP growth in 2008-09 as well during global economic crisis)Impossible!
We were posting record GST collection throughout the Q1, Industries were busy fulfilling the Huge pending backlog of orders from around the world. Exports were all time high!
I'm totally confused reading this article is it saying we declined 12% in the whole quarter or only in the month on June?I would take this report with a bucket-full of salt.
Car sales: The only indicator that partially supports this conclusion is car sales, It was 1.03 lakh for May 2021, but comparing to May 2020 (36K), that's 65% growth w.r.t. 2020.GST: GST collections recorded 2% growth w.r.t. May 2019 & 31% growth w.r.t. May 2020.Direct taxes: Direct taxes up by 85% compared to last year.Exports: Exports up by 46%Reports like this really makes me wonder if these so-called "Brokerage firms & Rating agencies" (particularly Anglo-Saxon ones) have any connect with the ground realities at all. Classical case being- Current chief economist of IMF was previously the economic advisor for Kerala government. Need I say anything more?
Quoting in-house data from UBS-India activity indicator, Tanvee Gupta Jain, the economist at the Swiss brokerage, says the indicator suggests that economic activity has contracted an average of 12 per cent in the June 2021 quarter as against 23.9 per cent in June 2020 quarter.Lol Q1 isn’t even over yet, And they predicted the GDP growth rate already. r/Lmao.
The 1st quarter of FY2021 is only half over yet, we still have 40+ days left for it to end, these rating agencies are truly a joke, this gave me a shock at first.Quoting in-house data from UBS-India activity indicator, Tanvee Gupta Jain, the economist at the Swiss brokerage, says the indicator suggests that economic activity has contracted an average of 12 per cent in the June 2021 quarter as against 23.9 per cent in June 2020 quarter.
SO CALLED IN HOUSE DATA
13 days.. Q1 is from 1st April - 30 June.The 1st quarter of FY2021 is only half over yet, we still have 40+ days left for it to end, these rating agencies are truly a joke, this gave me a shock at first.
Ya'll Nibbiars temporary decision that was for the commercial ship building's.Mazagon Dock Shipbuilders puts Rs 2K-crore greenfield capex on hold
That's if you follow the Proof of Work model. There is such a thing as Proof of Stake, which is less energy intensive.Ya'll Nibbiars Remeber the Digital Currency as not eco friendly as the paper currency they requires a lot of energy. And now you have to decide to use the Digital currency or not.
Bitcoin is an extremely inefficient way to conduct transactions, saying the amount of energy consumed in processing those transactions is staggering. And one bitcoin transaction requires about 707.6 kilowatt-hours of electrical energy, the amount of energy the average U.S. household consumes in 24 days. And examined blockchain's online security, and the energy efficiency of proof-of-work public blockchains, and in both cases found it grossly inadequate. The 31–45 TWh of electricity used for bitcoin in 2018 produced 17–22.9 MtCO2.
Then before making wild comment that the Digital currency are great think.
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