Indian Economy: News and Discussion

[gslv markIII]

Wut means what ?

Your post make no sense, bud. I'm not exactly sure hoe the situation in Bihar is anyhow similar to Kerala in any way whatsoever.

 

[Maharaj samudragupt]

Your post make no sense, bud. I'm not exactly sure hoe the situation in Bihar is anyhow similar to Kerala in any way whatsoever.

In which regard ? Missionaries ?
Hehe boii, behar has seen missionary since 300 years now .
From serampore mission era to present day Lutheran christian domination in jharakhnd and evangelicals in bihar .
It's no good neither bad.

 

[IndianHawk]

From your article:-

Most professional forecasters have slashed their growth projections for India to below 10% for FY22, with JP Morgan and Barclays paring it to 9% and 9.2%, respectively.

Which is what i had said in the first place a 10% growth rate is very difficult to achieve and this itself is subject to reinfections and upcoming waves.

On Tuesday State Bank of India itself slashed its growth forecast to 7.9% from 10.4% which can be considered as the most reliable source overall.

Still most forecasts are still over 9 %. Let's see where we end up. I'm still betting on 10% plus specially since govt will again announce measure to boost recovery soon.

 

[Chandragupt Maurya]

Your post make no sense, bud. I'm not exactly sure hoe the situation in Bihar is anyhow similar to Kerala in any way whatsoever.

kerala has highest suicide rate its also known as suicide capital of india Bihar on the other hand has lowest suicide rate in india

 

[Maharaj samudragupt]

kerala has highest suicide rate its also known as suicide capital of india Bihar on the other hand has lowest suicide rate in india

Not everything is hunky dory everywhere.

 

[Chandragupt Maurya]

Not everything is hunky dory everywhere.

suicide rate in bihar is only 0.5 lowest in india , followed by Nagaland 0.9 , Manipur 1.4 and UP 2.0

 

[FalconSlayers]

kerala has highest suicide rate its also known as suicide capital of india Bihar on the other hand has lowest suicide rate in india

Bihar has less such issues because suicides are woke modern shit nothing else.

 

[Chandragupt Maurya]

Bihar has less such issues because suicides are woke modern shit nothing else.

and what about farmer suicide rate bihar has lowest farmer suicide rate

 

[FalconSlayers]

and what about farmer suicide rate bihar has lowest farmer suicide rate

I’ve been to Bihar and people there are happy, every farmer is earning a lot, my friends are mostly from Bihar and from middle class farmer family backgrounds and it is pretty prosperous place.

 

[gslv markIII]

In which regard ? Missionaries ?
Hehe boii, behar has seen missionary since 300 years now .
From serampore mission era to present day Lutheran christian domination in jharakhnd and evangelicals in bihar .
It's no good neither bad.

Nope, it's not just about the missionaries.

It was the Church Missionary Society of India which first established modern schools in KL, this was amply supported by the native rulers of Travancore/ Kochi- definitely not the case with Bihar, which wasn't even a princely state to begin with.

Later school building mission was taken up by the Native Christians, who were a mercantile community & were rich enough to establish schools in every parish, in then mostly rural Kerala. (This was some what replicated by two major Hindu orgs- NSS & SNDP). I am definitely sure that rural communities in Bihar weren't rich enough to do that.

So basically the progress of education sector have quite a lot to do with the natives having the power & the resources to replicate/ sustain what they learned from the Europeans. Heck, Travancore- Kochi could have become an Indian equivalent of Meiji era Japan only if it was a bit more autonomous.

BTW I guess my claim of rural communities being rich enough to establish schools & colleges in the early twentieth century sounds bogus- here is a small proof. This bank was established in 1929 in a village close to my home. It was taken over by the state bank of Travancore in 1964.

CHAMPAKULAM CATHOLIC BANK LIMITED

This is a village mind you, not even a small town. No wonder how the parish there established a school in 1905. I don't think such conditions prevailed anywhere in British administered provinces.

kerala has highest suicide rate its also known as suicide capital of india Bihar on the other hand has lowest suicide rate in india

Pretty sure that if you look at all deaths, including ones due to infant mortality/ other avoidable causes, KL would be still do better.

 

[IndianHawk]

Looking at sdg report by niti aayog in detail.

So called bimaru Madhya Pradesh is now ahead of Bengal in sdg. Lol.

Mizoram has outstanding performance.

Uttarakhand and harayana and tamilnadu growing fast.

UP is doing better among leggard states with 5 points improvement . Not bad for such a huge state when smaller states are at similar rates. After massive infrastructure upgrade UP should rise much faster.

Bihar needs a lot of work obviously. Nitish Kumar need to stop playing Peekaboo with bjp and focus on full speed development.

 

[Maharaj samudragupt]

Nope, it's not just about the missionaries.

It was the Church Missionary Society of India which first established modern schools in KL, this was amply supported by the native rulers of Travancore/ Kochi- definitely not the case with Bihar, which wasn't even a princely state to begin with.

Later school building mission was taken up by the Native Christians, who were a mercantile community & were rich enough to establish schools in every parish, in then mostly rural Kerala. (This was some what replicated by two major Hindu orgs- NSS & SNDP). I am definitely sure that rural communities in Bihar weren't rich enough to do that .

So basically the progress of education sector have quite a lot to do with the natives having the power & the resources to replicate/ sustain what they learned from the Europeans. Heck, Travancore- Kochi could have become an Indian equivalent of Meiji era Japan only if it was a bit more autonomous.

BTW I guess my claim of rural communities being rich enough to establish schools & colleges in the early twentieth century sounds bogus- here is a small proof. This bank was established in 1929 in a village close to my home. It was taken over by the state bank of Travancore in 1964.

CHAMPAKULAM CATHOLIC BANK LIMITED

This is a village mind you, not even a small town. No wonder how the parish there established a school in 1905. I don't think such conditions prevailed anywhere in British administered provinces.



Pretty sure that if you look at all deaths, including ones due to infant mortality/ other avoidable causes, KL would be still do better.

Biraadar ,come to bihar to see what we call 'mission schools' here .
Yes they do charity in guise of supporting naxals.
Catholics are goody Christians , no lafada nothing .
Many women from kerala use to preach in behar in 70s 80s , then they really did good work .
Now it is just a farce as only Lutheran's and other have replaced them

 

[Chandragupt Maurya]

I’ve been to Bihar and people there are happy, every farmer is earning a lot, my friends are mostly from Bihar and from middle class farmer family backgrounds and it is pretty prosperous place.

north bihar suffers from devastating annual floods government needs to fix that problem first

 

[Maharaj samudragupt]

north bihar suffers from annual floods government needs to fix that problem first

Capture nepal problm fixed .

 

[gslv markIII]

Biraadar ,come to bihar to see what we call 'mission schools' here .
Yes they do charity in guise of supporting naxals.
Catholics are goody Christians , no lafada nothing .
Many women from kerala use to preach in behar in 70s 80s , then they really did good work .
Now it is just a farce as only Lutheran's and other have replaced them

Evangelical are a pain the rear, I agree. Baptists are a bigger problem.

 

[sorcerer]

India's merchandise exports in May 2021 was US$ 32.21 billion, an increase of 67.39% over May 2020 and an increase of 7.93% over May 2019

Press Information Bureau: June 03, 2021


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

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

India is thus a net importer in May 2021 with a trade deficit of US$ 6.32 billion, increase of 74.69% over trade deficit US$ 3.62 billion in May 2020 and reduction by 62.49% over trade deficit US$ 16.84 billion in May 2019.

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

In May 2021, Oil imports was US$ 9.45 billion, a positive growth of 164.46% compared to US$ 3.57 billion in May 2020 and a negative growth of 24.94 compared to US$ 12.59 billion in May 2019. In Apr-May 2021, Oil imports was US$ 20.32 billion, a positive growth of 146.79% compared to US$ 8.24 billion in Apr-May 2020 and a negative growth of 15.86 compared to US$ 24.16 billion in Apr-May 2019.

Non-oil imports in May 2021 was estimated at US$ 29.08 billion, showing an increase of 50.77% compared to US$ 19.29 billion in May 2020 and a decrease of 14.71% compared to US$ 34.09 billion in May 2019. Non-oil imports in Apr-May 2021 was estimated at US$ 63.93 billion, showing an increase of 101.37% compared to US$ 31.75 billion in Apr-May 2020 and a decrease of 1.52% compared to US$ 64.91 billion in Apr-May 2019.

Non-oil, non-GJ (gold, silver & Precious metals) imports was US$ 26.14 billion in May 2021, recording a positive growth of 41.32%, as compared to non-oil and non-GJ imports of US$ 18.5 billion in May 2020 and a negative growth of 4.08% over US$ 27.25 billion in May 2019. Non-oil, non-GJ (gold, silver &Precious metals) imports was US$ 52.27 billion in Apr-May 2021, recording a positive growth of 69.44%, as compared to non-oil and non-GJ imports of US$ 30.85 billion in Apr-May 2020 and a positive growth of 1.07% over US$ 51.71 billion in Apr-May 2019.

Major commodity groups of export showing positive growth in May 2021 over May 2019 are: Other cereals (376.04%), Iron ore (154.82%), Cereal preparations and miscellaneous processed item (25.48%), Cotton yarn/fabrics/made-ups, handloom products etc. (24.85%), Jute mfg. including floor covering (20.99%), Rice (20.37%), Ceramic products and glassware (20.32%), Engineering goods (16.09%), Plastic and linoleum (12.91%), Mica, coal and other ores, minerals including process (12.0%), Carpet (11.21%), Drugs and pharmaceuticals (10.92%), Marine products (9.35%), Spices (9.13%), Meat, dairy and poultry products (7.52%), Petroleum products (7.16%), Organic and Inorganic Chemicals (6.26%), Electronic Goods (5.1%), and Man-made yarn/fabrics/made-ups etc. (1.46%).

Major commodity groups of export showing negative growth in May 2021 over May 2019 are: Leather and leather manufactures (-36.48%), Tea (-29.43%%), RMG of All Textiles (-27.59%), Oil Seeds (-24.47%), Oil meals (-19.49%), Handicrafts excl. Hand-made carpet (-19.48%), Gems and Jewellery (-13.4%), Fruits and vegetables (-8.32%), Cashew (-7.11%), Coffee (-4.71%), and Tobacco (-0.78%).

Major commodity groups of import showing positive growth in May 2021 over May 2019 are: Sulphur & Unroasted Iron Pyrites (472.02%), Professional instrument, Optical goods, etc. (112.98%), Vegetable Oil (75.12%), Chemical material & products (45.91%), Pearls, precious & Semi-precious stones (33.75%), Medical. & Pharmaceutical products (29.38%), Artificial resins, plastic materials, etc. (16.34%), Pulp and Waste paper (14.53%), Metalliferous ores & other minerals (11.42%), and Organic & Inorganic Chemicals (6.88%).

Major commodity groups of import showing negative growth in May 2021 over May 2019 are: Silver (-95.9%), Gold (-85.79%), Newsprint (-69.28%), Transport equipment (-50.81%), Pulses (-49.65%), Cotton Raw & Waste (-39.94%), Leather & leather products (-37.19%), Petroleum, Crude & products (-24.94%), Iron & Steel (-21.83%), Coal, Coke & Briquettes, etc.(-16.8%), Textile yarn Fabric, made-up articles (-14.48%), Machine tools (-13.05%), Electronic goods (-12.12%), Machinery, electrical & non-electrical (-11.5%), Fruits & vegetables (-6.31%), Fertilizers, Crude & manufactured (-5.28%), Project Goods (-4.25%), Wood & Wood products (-3.16%), Dyeing/tanning/colouring materials (-1.86%), and Non-ferrous metals (-0.63%).

MERCHANDISE TRADE: Preliminary Data, May 2021​

Summary Value in US$ Billion​

​

​

Total​

​

Non-Petroleum​

​

Non- Petroleum and Non-Gems &Jewellery​

​

2019-20​

2020-21​

2021-22​

% change 2021-22 over 2020-21​

% change 2021-22 over 2019-20​

2019-20​

2020-21​

2021-22​

% change 2021-22 over 2020-21​

% change 2021-22 over 2019-20​

2019-20​

2020-21​

2021-22​

% change 2021-22 over 2020-21​

% change 2021-22 over 2019-20​

Exports​

29.85​

19.24​

32.21​

67.39​

7.93​

24.92​

17.49​

26.94​

54.06​

8.08​

21.50​

16.42​

23.97​

45.96​

11.51​

Imports​

46.68​

22.86​

38.53​

68.54​

-17.47​

34.09​

19.29​

29.08​

50.77​

-14.71​

27.25​

18.50​

26.14​

41.32​

-4.08​

Deficit​

16.84​

3.62​

6.32​

74.69​

-62.49​

9.17​

1.80​

2.14​

18.82​

-76.65​

5.75​

2.07​

2.17​

4.57​

-62.31​

Change by top Commodity Groups Value in US$ Million​

​	Top Increase​	Top Decline​
​	Commodity group​	Change (US$ Million)​	% change​	Commodity group​	Change (US$ Million)​	% change​
EXPORT (MAY’21 OVER MAY’20)​	Petroleum products​	3516.63​	199.85​	Drugs and pharmaceuticals​	-107.20​	-5.42​
Engineering goods​	3000.43​	53.14​	Fruits and vegetables​	-21.15​	-10.63​
Gems and jewellery​	1904.94​	179.16​	Oil seeds​	-5.58​	-7.08​
EXPORT (MAY ’20 OVER MAY’19)​	Drugs and pharmaceuticals​	291.41​	17.27​	Petroleum products​	-3163.92​	-64.26​
Iron ore​	231.69​	102.75​	Gems and jewellery​	-2364.35​	-68.98​
Rice​	46.54​	7.26​	Engineering goods​	-1802.32​	-24.20​
EXPORT (MAY ’21 OVER MAY’19)​	Engineering goods​	1198.11​	16.09​	Gems and jewellery​	-459.40​	-13.40​
Petroleum products​	352.71​	7.16​	Rmg of all textiles​	-421.74​	-27.59​
Iron ore​	349.08​	154.82​	Leather and leather manufacturers​	-155.69​	-36.48​
​	Top Increase​	Top Decline​
​	Commodity group​	Change (US$ Million)​	% change​	Commodity group​	Change (US$ Million)​	% change​
IMPORT May’21 OVER May’20)​	Petroleum, Crude & products​	5878.19​	164.46​	Silver​	-318.47​	-95.31​
Pearls, precious & Semi-precious stones​	1864.77​	490.39​	Transport equipment​	-213.00​	-15.32​
Electronic goods​	1368.17​	47.55​	Iron & Steel​	-37.08​	-3.04​
IMPORT (May’20 OVER May’19)​	Sulphur & Unroasted Iron Pyrts​	2.88​	56.72​	Petroleum, Crude & products​	-9018.66​	-71.62​
​	Gold​	-4704.38​	-98.40​
Electronic goods​	-1953.38​	-40.44​
IMPORT (May ’21 OVER May’19)​	Vegetable Oil​	612.05​	75.12​	Gold​	-4101.52​	-85.79​
Pearls, precious & Semi-precious stones​	566.47​	33.75​	Petroleum, Crude & products​	-3140.47​	-24.94​
Professional instrument, Optical goods, etc.​	491.71​	112.98​	Transport equipment​	-1216.19​	-50.81​
​	​	​	​	​	​	​	​	​	​

​

 

[SKC]

How has the PLI scheme been faring?

Last i heard they had to half the targets due to foreign companies demanding more gibs.

What about the other PLI's and their status.

This is the problem! seeking result of these scheme within days after launching them. Need to wait for 2-3 years atleast to see substantial results.

 

[sorcerer]

Number of startups recognized by DPIIT goes up to Fifty Thousand




Startup India is a flagship initiative of the Government of India launched by the Prime Minister Shri Narendra Modi on 16 January, 2016. The initiative is intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. Department for Promotion of Industry and Internal Trade (DPIIT) acts as the nodal Department for the Startup initiative. As on June 3, 2021, 50,000 startups across have been recognized as startups by DPIIT, of which 19,896 have been recognized since April 1, 2020.


With the launch of the Startup India initiative, recognized startups have now spread across 623 districts. Each State and UT has at least one startup. 30 States and UTs have announced specific Startup Policies to support startups. Maharashtra, Karnataka, Delhi, Uttar Pradesh and Gujarat have the greatest number of startups.


Notably, it took only 180 days to add the last 10,000 startups, as compared to 808 days for the first 10,000 at the beginning of the initiative. 743 startups were recognized in 2016-2017, in the first year of the initiative, which has now increased exponentially to over 16,000 startups being recognized in the year 2020-2021.


Entrepreneurs now have options to avail benefits across a range of laws, regulations, fiscal and infrastructural support, leading to a surge in startup ecosystem growth.


The recognized startups have contributed significantly to job creation, with 5,49,842 jobs reported by 48,093 startups with an average number of 11 employees per startup. About 1.7 lakh jobs were created by recognized startups in the 2020-2021 period alone.


The sectors that had the maximum registered startups were ‘Food Processing’, ‘Product Development’, ‘Application Development’, ‘IT Consulting’ and ‘Business Support Services’. The leadership teams of 45% startups have a women entrepreneur, a trend which will inspire more women entrepreneurs to turn their ideas into startups.


Startup India at DPIIT has played a pivotal role in strengthening the key pillars identified for our startup economy. Funding opportunities to startups have been enhanced through the Fund of Funds Scheme with an overlay of INR 10,000 crore and the recently launched Startup India Seed Fund Scheme (SISFS) with an outlay of INR 945 crores.


Multiple programs conceived and implemented by DPIIT -National Startup Awards, State Ranking Framework, Global VC Summit, Prarambh: Startup India International Summit - have provided the ecosystem an opportunity to engage with multiple partners, get recognized for their contribution and showcase the work that is being done.


DPIIT will continue to engage with multiple stakeholders to address the growth opportunities and challenges in the ecosystem, helping the Indian startup ecosystem reach greater heights.

 

[Knowitall]

This is the problem! seeking result of these scheme within days after launching them. Need to wait for 2-3 years atleast to see substantial results.

huh??

I was seeking the status of these PLI's not the results.

anyways it has been answered already while other PLI's were delayed the API one was successfully given to 4 countries.

Government gives approval to four firms under PLI scheme for bulk drugs - Times of India

India Business News: The government has given approval to four waitlisted firms under the production linked incentive (PLI) scheme for domestic manufacturing of bulk drugs

timesofindia.indiatimes.com

 

[sorcerer]

Government constitute Expert Group on Fixation of Minimum Wages and National Floor Wages


Posted On: 03 JUN 2021 1:18PM by PIB Delhi



The Ministry of Labour & Employment Government issued an order and has constituted the Expert Group to provide technical inputs and recommendations on fixation of Minimum Wages and National Floor Minimum Wages. The Group has been constituted for a period of three years from the date of notification.


The Expert Group is chaired by Prof Ajit Mishra, Director, Institute of Economic Growth. Prof Tarika Chakraborty, IIM Calcutta, Dr Anushree Sinha, Senior Fellow, NCAER, Ms Vibha Bhalla, Joint Secretary,Dr H. Srinivas, Director General, VVGNLI are the members of the Expert Group and Shri D.P.S. Negi, Senior Labour & Employment Advisor, Ministry of Labour & Employment is the Member Secretary.


The Expert group will give recommendations to the Government on Minimum Wages and National Floor Wage. To arrive at the wage rates, the group will look into the international best practices on the wages and evolve a scientific criteria and methodology for fixation of wages.