Indian Economy: News and Discussion

shade

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Because every little thing is imported from the Chongland.
little things that are not sexy and glamorous enough to get attention of Gormint and their PLI schemes or whatever other schemes.
Areas where we would have had an advantage like garment manufacture for export were ceded to Kangladesh etc.

Current Corona Lockdowns don't help either.
 

sorcerer

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India’s Trade Performance continues to be impressive in April-2021



India’s export performance continues to be impressive in April 2021 with merchandise exports accelerating by an impressive 195.72 per cent over April 2020 levels and 17.62 per cent over the April 2019 levels.


Merchandise export, excluding POL and Gems &Jewellery, have increased by 160.24% in April 2021 over the same period of 2020-21 and by 20.47% over same period of 2019-20.


The Economic recovery is also visible in the rising import growth of 167.05 per cent and 7.87 per cent during April 2021 over same period of 2020-21 and 2019-20 respectively.


Service exports estimated for April 2021* are USD 21.17 Billion, registering a positive growth of 28.68 percent vis-à-vis April 2020. The estimated value of services import for April 2021* is USD 13.00 Billion, registering a positive growth of 39.75 percent vis-à-vis April 2020. The estimated value of Net of services export for April 2021* is USD 8.17 Billion registering a positive growth of 14.28 percent vis-à-vis April 2020


Commodity wise growth trends:


Thecommodities/commodity groups which have recorded positive growth during April 2021 vis-à-vis April 2020 are Gems &jewellery (9271.21%), Jute mfg. including floor covering (1684.62%), Carpet (1352.68%), Handicrafts excl. handmade carpet (1275.46%), Leather& leather products (1201.44%), RMG of all textiles (927.08%), Cotton yarn/fabs./made-ups, handloom products etc. (618.26%), Man-made yarn/fabs./made-ups etc. (587.01%), Other cereals (451.39%), Ceramic products & glassware (444.45%), Electronic goods (372.62%), Oil meals (279.49%), Cashew (260.48%), Mica, Coal & other ores, minerals including processed minerals (241.21%), Engineering goods (238.27%), Petroleum products (191.53%), Tobacco (187.4%), Cereal preparations & miscellaneous processed items (174.61%), Iron ore (172.16%), Oil seeds (169.04%), Meat, dairy & poultry products (148.81%), Tea (146.31%), Marine products (107.94%), Spices (97.56%), Coffee (75.02%), Organic & inorganic chemicals (68.54%), Rice (61.64%), Plastic & Linoleum (51.89%), Fruits & vegetables (25.4%) and Drugs & pharmaceuticals (23.43%).


Iron Ore and Drugs & Pharmaceuticals exports have been consistently growing throughout 2020-2021 and April 2021. Rice export has been consistently growing during 2020-2021 and April 2021 except for the month of April 2020. Cereal preparations & miscellaneous processed items, Other Cereals and Oil Meals exports have been consistently growing since June 2020. Jute Mfg. including Floor Covering and Carpet exports have been consistently growing since July 2020. Handicrafts, excl. handmade carpet, Cotton Yarn/Fabs./made-ups, Handloom Products etc., Ceramic products & glassware, spices and ‘others’ categories exports are growing consistently since September 2020. Mica, Coal & Other Ores, Minerals including processed minerals export is consistently growing since October 2020.


Sectors such as Leather & leather products, Man-made Yarn/Fabs./made-ups etc., and Marine products which had been exhibiting negative growth during the pandemic (2020-2021) have picked up from March 2021 onwards.


*Note: The latest data for services sector released by RBI is for March 2021. The data for April 2021 is estimates, which may undergo revision with subsequent releases of RBI.
 

sauntheninja

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Because every little thing is imported from the Chongland.
little things that are not sexy and glamorous enough to get attention of Gormint and their PLI schemes or whatever other schemes.
Areas where we would have had an advantage like garment manufacture for export were ceded to Kangladesh etc.

Current Corona Lockdowns don't help either.
The government has been in power since 2014 and nothing has changed
 

sorcerer

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PM releases 8th instalment of financial benefit under PM-KISAN

For the first time, farmers of West Bengal will benefit from this scheme

Wheat procurement at MSP has set new records this year

Government is fighting COVID-19 with all its might

Union Agriculture Minister thanks Prime Minister for the focus on Gaon, Garib and Kisan


Posted On: 14 MAY 2021 4:13PM by PIB Delhi



Prime Minister Shri Narendra Modi released 8th instalment of financial benefit of Rs 2,06,67,75,66,000 to 9,50,67,601 beneficiary farmers under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme today via video conferencing. Prime Minister also interacted with farmer beneficiaries during the event. Union Agriculture Minister was also present on the occasion.





While interacting with beneficiaries of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme via video conferencing, Prime Minister appreciated Arvind from Unnao in Uttar Pradesh for providing training to young farmers of his region on organic farming and new farming techniques. He lauded Patrick from Car Nicobar in Andaman and Nicobar Islands for doing large-scale organic farming. He praised the efforts made by N Vennurama from Anantapur in Andhra Pradesh for guiding more than 170 adivasi farmers of her region. PM appreciated Revistar from Meghalaya for producing spices like Ginger powder, turmeric, cinnamon, etc in the hilly areas of Meghalaya. He also interacted with Khurshid Ahmed from Srinagar, Jammu & Kashmir who cultivates vegetables like capsicum, green chillies and cucumber organically. Sharing his experience, Balasaheb Narare from Latur, Maharashtra told PM that How Kisan Credit Card helped him to avail credit from bank and how it helped him to increase his farm production.


Speaking on the occasion, the Prime Minister said for the first time, the farmers of West Bengal would be getting the benefit of this scheme. He lauded the efforts of the farmers who have made record produce in food grains and horticulture amidst the difficulties during this pandemic. He said Government is also setting new records in procurement at MSP every year. Paddy procurement at MSP had set new records and now wheat procurement at MSP is also setting new records. He added that so far this year, about 10 percent more wheat has been procured at MSP, compared to last year. So far, about Rs. 58,000 crores for wheat procurement has reached the farmers' account directly.


Prime Minister remarked that the Government is constantly trying to provide new solutions and new options in farming. Promoting organic farming is also one of such effort. Organic farming delivers more profit and is now being practiced across the nation by young farmers. He said that now organic farming is being practised on both banks of Ganga and within a radius of about 5 kilometers, so that the Ganga remains clean.


Prime Minister stressed that during this COVID-19 pandemic, Kisan Credit Card’s deadline has been extended and instalments can now be renewed by 30 June. He said more than 2 crore Kisan Credit Cards have been issued in recent years.


Prime Minister said that this once in a century pandemic is challenging the world, as it is an invisible enemy in front of us. He said the Government is fighting COVID-19 with all its might and ensuring that every government department is working day & night to ease the pain of the nation.


Prime Minister remarked that Central Government and all the State Governments together, are making continuous efforts to enable more and more countrymen to get vaccinated at a rapid pace. He said so far, around 18 crore vaccine doses have been given across the country. Free vaccination is being done in government hospitals across the country. Prime Minister urged everyone to register for the vaccine when their turn comes and ensure COVID appropriate behaviour at all times. He added that this vaccine is an important means of protection against corona and will reduce the risk of serious illness.


Prime Minister said Armed forces are working with full strength to ensure oxygen supply in these tough times. Railways are also running oxygen express trains. The pharma sector of the country is manufacturing and delivering medicines at a large scale. He requested the State Governments to ensure strict laws to counter black marketing of medicines and medical supplies.


Prime Minister remarked that India is not a nation that loses hope in tough times and hoped that this challenge would be overcome with strength & dedication. He warned about the spread of COVID-19 in rural areas as well and urged the village panchayats to ensure proper awareness and sanitation in their respective areas.





On the occasion, Union Minister for Agriculture and Farmers Welfare Shri Narendra Singh Tomar said Prime Minister’s efforts are always in the direction of good governance, improving life style and doubling farmers’ income. He added that under the leadership of Shri Narendra Modi income-centric policies are being framed for the agriculture sector. Describing PM Kisan Samman Nidhi Yojana as the most comprehensive scheme, Shri Narendra Singh Tomar thanked Prime Minister Narendra Modi for the focus on Gaon, Garib and Kisan and also for transferring more than Rs. 20 thousand crores to bank accounts of nearly 9.5 crore farmers under PM Kisan. The Minister also added that the Agriculture Ministry is putting all-around efforts to achieve 100% saturation under the PM Kisan scheme.


State-wise farmer beneficiaries and amount transferred are as follows:


 

Lonewolf

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The government has been in power since 2014 and nothing has changed
But our out put is increasing , can you specify which manufacturing industry have been shut down, because being halved is a major thing , and if being halved that means gdp contribution should be halved , is it due to corona or a continuous trend ?

Is it due to renaming of some sector from manufacturing , which they weren't like if manerega jobs are included that's not manufacturing .

Please elaborate
 

sauntheninja

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But our out put is increasing , can you specify which manufacturing industry have been shut down, because being halved is a major thing , and if being halved that means gdp contribution should be halved , is it due to corona or a continuous trend ?

Is it due to renaming of some sector from manufacturing , which they weren't like if manerega jobs are included that's not manufacturing .

Please elaborate
People conveniently forget that there was a economic slowdown even before the pandemic where our auto sector essentially was losing jobs at a rapid rate and in the article the facts are given do give it a read
 

Lonewolf

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People conveniently forget that there was a economic slowdown even before the pandemic where our auto sector essentially was losing jobs at a rapid rate and in the article the facts are given do give it a read
I wanna ask jobs were lost but was it due to over employment , or low out put , yeah slow down were there , and not just due to domestic issues , but i mean being halved is way big thing , is it directly related to out put or not .
 

JBH22

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The rating agencies play king and can wreck havoc on your economy. Don't forget if any firm wants to invest or raise cash, the macro economic rating is factored.
The IMF, rating agencies, swift imho are one of the brahmastra of the west to kill your economy.
 

sauntheninja

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I wanna ask jobs were lost but was it due to over employment , or low out put , yeah slow down were there , and not just due to domestic issues , but i mean being halved is way big thing , is it directly related to out put or not .
What is over employment in 2019 we had the highest unemployment rate since 40 years ago and these facts are taken from CMIE Bulletin which is pretty reliable
 

Lonewolf

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What is over employment in 2019 we had the highest unemployment rate since 40 years ago and these facts are taken from CMIE Bulletin which is pretty reliable
Population growth stagnation , and wtf , we had highest unemployment in 2019 in 40 years ??!!!! , And more than that of 1990 crisis
 

sauntheninja

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Bhumihar

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Lonewolf

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Again the last sentence in the article says the job losses were mounting before the pandemic hit
But how much isn't written is it ?

I think we should find some official data , graph etc to discuss the issue
 

sauntheninja

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Okabe Rintarou

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What is over employment in 2019 we had the highest unemployment rate since 40 years ago and these facts are taken from CMIE Bulletin which is pretty reliable
:rofl::rofl::rofl:
CMIE is "pretty reliable"? CMIE is a private company owned by Montek Singh Alhuwalia.

This guy:-




____________________________________________________________________


Opposition has been quoting CMIE "data" since before 2019 General Elections. Go sell your snake oil somewhere else.
 

Lonewolf

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I did link a hindustan times article above where it said unemployment rate hit the highest rate in 2017-18 and here is a bloomberg article talking about the slowdown and note this was published before the pandemic hit
https://www.bloomberg.com/news/features/2020-01-29/india-s-worst-economic-slowdown-in-a-decade
This k e looks like particular hitjob , here he talks about caa ,and all .


Tbh , if things improve now then it should be good .

We were literally living in a hot air balloon post 2008 , too much loans , things were improving on this front as rate of growth of loan was decreasing but thdn pandemic hit .


But if we tackle this corona mess by june , we still can think of some growth and a long term one .

A country on natural growth model without much external help goes through modes of slowdown and growth , hope we can improve it
 

indus

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Why are we importing so much?
Palm oil is imported to mix it with edible oils to reduce costs. Presently prices of all major oilseeds, groundnut, mustard, soyabeans is running at all time high. Prices have gained nearly 40 pcnt over last year. Without adequate import retail inflation will skyrocket.
 

sauntheninja

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:rofl::rofl::rofl:
CMIE is "pretty reliable"? CMIE is a private company owned by Montek Singh Alhuwalia.

This guy:-




____________________________________________________________________


Opposition has been quoting CMIE "data" since before 2019 General Elections. Go sell your snake oil somewhere else.
the unemployment survey and the consumer survey which showed that for the first time the decline of sales and the increase of unemployment was conveniently not released by the government because they knew the figures were bad why not just acknowledge that the downturn occurred and it has continued due to the pandemic
 

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