NEWS / INDIAN ECONOMY IN 2019-2021

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NEWS ON INDIAN ECONOMY - REPORTED IN 2019-2021

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RETAIL INFLATION FURTHER UP IN NOVEMBER 2021 : STATISTICAL MINISTRY

DATED 14.12.2021 :    According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) raised to 4.91 % in November 2021 against 4.48 % in October 2021 .

Food inflation was at 2.60 % . But a higher inflation rate of 29.67 % in edible oils , 5.55 % in meats , & 9.65 % in non-alcoholic beverages was seen . But negative inflation of - 13.62 % in vegetables moderated the overall food inflation .

The inflation rate is still within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION CONTINUES TO GROW IN OCTOBER 2021 : STATISTICAL MINISTRY

DATED 14.12.2021 : According to press release of Department of Statistics , Government of India released recently , Index of Industrial Production ( IIP ) showed growth of 3.2 % in the month of October 2021 compared with the corresponding month of previous year ( October 2020 ) . The growth was 11.40 % in Mining , 2.0 % in Manufacturing and a growth of 3.10 % in Electricity production .

The cumulative growth for the financial year from April 2021 to October 2021 stands at 20.0 % compared with the same period previous year ( April 2020 to October 2020 ) . The growth was contributed by 20.4 % in Mining , 21.2 % in Manufacturing and 11.4 % in Electricity production .

The quick estimate of IIP with base 2011-12 stood at 133.7 for the month of October 2021 against 129.6 in October 2020 .

The impressive growth in IIP is due to low base figures of 2020 wherein there was a huge dip in economic activities due to spread of pandemic .

To read the Press Release of the ministry ,  CLICK HERE

GDP GROWS 8.4% IN QURTER 2 OF FY 21-22 : STATISTICAL MINISTRY

DATED 01.12.2021 :       According to yesterday's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the Second quarter of FY 2021-22 ( July to September 2021 ) has grown at  8.4 percent as compared to contraction of 7.4 percent in Q2 of fy 2020-21

The press report says   " GDP at Constant (2011-12) Prices in Q2 2021-22 is estimated at ₹35.73 lakh crore, as against ₹32.97 lakh crore in Q2 2020-21, showing a growth of 8.4 percent as compared to 7.4 percent contraction in Q2 2020-21. Quarterly GVA at Basic Prices at Constant (2011-12) Prices in Q2 2021-22 is estimated at ₹32.89 lakh crore, as against ₹30.32 lakh crore in Q2 2020-21, showing a growth of 8.5 percent. . "

All sectors of the sectors have shown growth during the period including manufacturing at 36.7 % , construction 53.9 % and Mining & Quarrying at 61 % .

In spite of robust growth in the first two quarters of the current financial year , India has to tread further to recover the meltdown in 2020-21 .

To read the Press notification of the ministry and complete statistics , CLICK HERE

INDUSTRIAL PRODUCTION CONTINUES TO GROW IN SEPTEMBER 2021 : STATISTICAL MINISTRY

DATED 12.11.2021 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) showed growth of 3.1 % in the month of September 2021 compared with the corresponding month of previous year ( September 2020 ) . The growth was 8.6 % in Mining , 2.7 % in Manufacturing and a growth of 0.9 % in Electricity production .

The cumulative growth for the financial year from April 2021 to September 2021 stands at 23.5 % compared with the same period previous year ( April 2020 to September 2020 ) . The growth was contributed by 22.3 % in Mining , 25.3 % in Manufacturing and 12.8 % in Electricity production .

The quick estimate of IIP with base 2011-12 stood at 127.9 for the month of September 2021 against 124.1 in September 2020 .

The impressive growth in IIP is due to low base figures of 2020 wherein there was a huge dip in economic activities due to spread of pandemic .

To read the Press Release of the ministry ,  CLICK HERE

RETAIL INFLATION INCHES UP IN OCTOBER 2021 : STATISTICAL MINISTRY

DATED 12.11.2021 :    According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) raised to 4.48 % in September 2021 against 4.35 % in August 2021 .

Food inflation was at 1.82 % . But a higher inflation rate of 33.50 % in edible oils , 7.12 in meats , & 11.40 % in non-alcoholic beverages was seen . But negative inflation of - 19.43 % in vegetables moderated the overall food inflation .

The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION CONTINUES TO GROW IN AUGUST 2021 : STATISTICAL MINISTRY

DATED 13.10.2021 : According to press release of Department of Statistics , Government of India released on 12.10.2021 , Index of Industrial Production ( IIP ) showed growth of 11.9 % in the month of August 2021 compared with the corresponding month of previous year ( August 2020 ) . The growth was 23.6 % in Mining , 9.7 % in Manufacturing and a growth of 16 % in Electricity production .

The cumulative growth for the financial year from April 2021 to August 2021 stands at 28.6 % compared with the same period previous year ( April 2020 to August 2020 ) . The growth was contributed by 25.1 % in Mining , 31.2 % in Manufacturing and 15.4 % in Electricity production .

The quick estimate of IIP with base 2011-12 stood at 131.1 for the month of August 2021 against 117.2 in August 2020 .

The impressive growth in IIP is due to low base figures of 2020 wherein there was a huge dip in economic activities due to spread of pandemic .

To read the Press Release of the ministry ,  CLICK HERE

RETAIL INFLATION FURTHER EASES IN SEPTEMBER 2021 : STATISTICAL MINISTRY

DATED 13.10.2021 :    According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) further cooled to 4.35 % in September 2021 against 5.30   % in August 2021 .

Food inflation further cooled to 1.61 % . But a higher inflation rate of 34.19 % in edible oils , 7.99 in meats , & 8.75 % in pulses was seen . But negative inflation of -0.61 % in cereals and - 22.47 % in vegetables moderated the overall food inflation .

The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

RETAIL INFLATION FURTHER EASES IN AUGUST 2021 : STATISTICAL MINISTRY

DATED 13.09.2021 :    According to press release of Department of Statistics , Government of India released today , Inflation rate as measured by Consumer Price Index ( CPI ) further cooled to 5.30 % in August 2021 against 5.59   % in July 2021 .

Food inflation further cooled to 3.80 % . But a higher inflation rate of 33 % in edible oils , 6.69 % in fruits , & 8.81 % in pulses was seen . But negative inflation of - 1.42 % in cereals and - 11.68 % in vegetables moderated the overall food inflation .

The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION CONTINUES TO GROW IN JULY 2021 : STATISTICAL MINISTRY

DATED 13.09.2021 : According to press release of Department of Statistics , Government of India released on 10.09.2021 , Index of Industrial Production ( IIP ) showed growth of 11.5 % in the month of July 2021 compared with the corresponding month of previous year ( July 2020 ) . The growth was 19.5 % in Mining , 10.5 % in Manufacturing and a growth of 11.1 % in Electricity production .

The cumulative growth for the financial year from April 2021 to July 2021 stands at 34.1 % compared with the same period previous year ( April 2020 to July 2020 ) . The growth was contributed by 25.3 % in Mining , 39 % in Manufacturing and 15.2 % in Electricity production .

The quick estimate of IIP with base 2011-12 stood at 131.4 for the month of July 2021 against 117.9 in July 2020 .

The impressive growth in IIP is due to low base figures of May 2020 wherein there was a huge dip in economic activities due to spread of pandemic .

To read the Press Release of the ministry ,  CLICK HERE

GDP SHOWS ROBUST GROWTH ON LOW BASE FOR QURTER 1 OF FY 21-22 : STATISTICAL MINISTRY

DATED 01.09.2021 :       According to yesterday's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the First quarter of FY 2021-22 ( April to June 2021 ) has grown at  20.1 percent as compared to contraction of 24.4 percent in Q1 2020-21

The press report says   " GDP at Constant (2011-12) Prices in Q1 of 2021-22 is estimated at ₹ 32.38 lakh crore,  as against ₹ 26.95 lakh crore in Q1 of 2020-21, showing a growth of 20.1 percent as compared  to contraction of 24.4 percent in Q1 2020-21. Quarterly GVA at Basic Price at Constant (2011-12) Prices for Q1 of 2021-22 is estimated at ₹ 30.48 lakh crore, as against ₹ 25.66 lakh crore in  Q1 of 2020-21, showing a growth of 18.8 percent .   "

All sectors of the sectors have shown growth during the period including manufacturing at 49 .6 % , construction 68.3 % and Hospitality and other service sectors at 34.3 % .

In spite of robust growth in the first quarter of the current financial year , India has to tread further to recover the meltdown in 2020-21 .

To read the Press notification of the ministry and complete statistics , CLICK HERE

NATIONAL MONETISATION PIPELINE

INDIA ON SALE SPREE : PLAN TO COLLECT RS 6 LAKH CRORES THROUGH MONETISATION OF ASSETS :
NATIONAL MONETISATION PIPELINE

DATED 26.08.2021 :
Finance Minister Ms Nirmala Sitharaman launched the National Monetisation Pipeline on 23rd August 2021 . The plan envisages massive giving way the rights to manage the public assets to private entities . Government is intending to hand over the assets of Railways , roads , power , telecom , gas , hotels & sports stadia each one through different approach and earn funds for infrastructure projects . The plan is developed by Niti Ayog , planning wing of the central government .

DEATILS OF THE PLAN :
Union Budget 2021-22 has identified monetisation of operating public infrastructure assets as a key means for sustainable infrastructure financing. Towards this, the Budget provided for preparation of a ‘National Monetisation Pipeline (NMP)’ of potential brownfield infrastructure assets. NITI Aayog in consultation with infra line ministries has prepared the report on NMP.

While private sector is being given rights for operation and maintenance of selected public sector assets for a specific period of time , ownership of most of assets continue to remain with public sector entities.

The NMP is expected to run for 4 years and the government expects to raise Rs 6.00 lakh crores through this exercise .
The aggregate asset pipeline under NMP over the four-year period, FY 2022-2025, is indicatively valued at Rs 6.0 lakh crore . These top 5 sectors included in NMP are : Roads (27%) followed by Railways (25%), Power (15%), oil & gas pipelines (8%) and Telecom (6%).

ASSETS CONSIDERED FOR MONETISATION :
1. ROADS : 26,700 KMS of National Highways
2. RAILWAYS : 400 Railway stations , 90 Passenger trains , Railway track of 1,400 kms , 265 Good sheds and other assets
3. POWER : 28,608 KMS of transmission lines . Power Generation of 6.0 GW
4. TELECOM : 2.86 LAKH KMS of Bharatnet Fibre , 14, 917 towers ( including that of MTNL & BSNL )
5. NATURAL GAS : 8,154 kms of gas Pipeline , 3930 kms of LPG Line
6. WAREHOUSES : 210 Lakh metric Tonne capacity of FCI
7. COAL MINING : 160 Projects
8. AIRPORTS : 25 NUMBERS
9 . SPORTS : 2 National stadia and 2 regional centre
10. HOTELS : 8 Hotels owned by ITDC .

To read complete NMP Policy published by Niti Ayog , CLICK HERE

RETAIL INFLATION COOLS IN JULY 2021 : STATISTICAL MINISTRY

DATED 13.08.2021 :    According to press release of Department of Statistics , Government of India released on 12.08.2021 , Inflation rate as measured by Consumer Price Index ( CPI ) cooled to 5.59 % in July 2021 against 6.26   % in June 2021 .

Food inflation further cooled to 4.46 % . But a higher inflation rate of 32.53 % in edible oils , 8.91 % in fruits , & 9.04 % in pulses was seen . But negative inflation of - 1.75 % in cereals and - 7.75 % in vegetables moderated the overall food inflation .

The inflation rate is now within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION CONTINUES TO BE UP IN JUNE 2021 : STATISTICAL MINISTRY

DATED 13.08.2021 : According to press release of Department of Statistics , Government of India released on 12.08.2021 , Index of Industrial Production ( IIP ) showed growth of 13.6 % in the month of June 2021 compared with the corresponding month of previous year ( June 2020 ) . The growth was 23.1 % in Mining , 13 % in Manufacturing and a growth of 8.3 % in Electricity production .

The cumulative growth for the financial year from April 2021 to June 2021 stands at 45 % compared with the same period previous year ( April 2020 to June 2020 ) . The growth was contributed by 27.4 % in Mining , 53.7 % in Manufacturing and 16.8 % in Electricity production .

The quick estimate of IIP with base 2011-12 stood at 122.6 for the month of June 2021 against 107.9 in June 2020 .

The impressive growth in IIP is due to low base figures of May 2020 wherein there was a huge dip in economic activities due to spread of pandemic .

To read the Press Release of the ministry ,  CLICK HERE

RETAIL INFLATION CONTINUES TO BE ABOVE RBI TOLERANCE LIMIT IN JUNE 2021 : STATISTICAL MINISTRY

DATED 13.07.2021 :    According to press release of Department of Statistics , Government of India released on 12.07.2021 , Inflation rate as measured by Consumer Price Index ( CPI ) again rose to 6.26 % in June 2021 against 6.30   % in May 2021 .

Food inflation is at the tolerable rate of 5.58 % . But a higher inflation rate of 34.78 % in edible oils , 11.82 % in fruits , & 10.01 % in pulses was seen . But negative inflation of - 1.94 % in cereals and -0.7 % in vegetables moderated the overall food inflation .

The inflation rate is still higher than the upper limit of tolerance of 6 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION DRASTICALLY UP IN MAY 2021 : STATISTICAL MINISTRY

DATED 13.07.2021 : According to press release of Department of Statistics , Government of India released on 12.07.2021 , Index of Industrial Production ( IIP ) showed robust growth of 29.3 % in the month of Mary 2021 compared with the corresponding month of previous year ( May 2020 ) . The growth was 23.3 % in Mining , 34.5 % in Manufacturing and a growth of 7.5 % in Electricity production .

The cumulative decline for the financial year from April 2021 to May 2021 stands at 68.8 % compared with the same period previous year ( April 2020 to May 2020 ) . The growth was contributed by 29.4 % in Mining , 88.8 % in Manufacturing and 21.7 % in Electricity production .

The quick estimate of IIP with base 2011-12 stood at 116.6 for the month of May 2021 against 90.2 in May 2020 .

The impressive growth in IIP is due to low base figures of May 2020 wherein there was a huge dip in economic activities due to spread of pandemic .

To read the Press Release of the ministry ,  CLICK HERE

RETAIL INFLATION CROSSE RBI TOLERANCE LIMIT IN MAY 2021 : STATISTICAL MINISTRY

DATED 15.06.2021 :    According to press release of Department of Statistics , Government of India released on 14.06.2021 , Inflation rate as measured by Consumer Price Index ( CPI ) again rose to 6.30 % in May 2021 against 4.29   % in April 2021 .

Food inflation is at the tolerable rate of 5.01% . But a higher inflation rate of 30.98 % in edible oils , 11.98 % in fruits , 9.39 % in pulses , meats at 9.03 % was seen . But negative inflation of 1.42 % in cereals and -1.92 % in vegetables moderated the overall food inflation .

The inflation rate is now higher than the upper limit of tolerance of 6 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

GDP CONTRACTS 7.3 % IN FY 20-21 : STATISTICAL MINISTRY
Quarter 4 shows a marginal Growth at 1.6 % over the previous year

DATED 31.05.2021 :       According to today's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the Financial year 2020-21 has contracted 7.3 % .

The press report says   "  Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2020-21 is now estimated to attain a level of ₹135.13 lakh crore, as against the First Revised Estimate of GDP for the year 2019-20 of ₹145.69 lakh crore, released on 29th January 2021.  The growth in GDP during 2020-21 is estimated at -7.3 percent as compared to 4.0 percent in  2019-20.   "

Some of the sectors which showed huge negatives are Mining 8.5 % , Manufacturing 7.2 % & communication at 18.2 % .

However silver lining in the report is that GDP has grown a nominal growth of 1.6 % in he las quarter of the financial year over the same period of the previous year . GDP contracted 24.4 % in quarter 1 , 7.4 % in quarter 2 while it grew 0.5 % in quarter 3 and 1.6 % in quarter 4 of the fy 20-21 over the previous year .

Economic Survey of government of India published in january had predicted a contraction of 7.1 % in FY 20-21 and today's announcement is very near the prediction .

To read the Press notification of the ministry and complete statistics , CLICK HERE

INDUSTRIAL PRODUCTION DRASTICALLY UP IN MARCH 2021 : STATISTICAL MINISTRY

DATED 14.05.2021 : According to press release of Department of Statistics , Government of India released on 12.05.2021 , Index of Industrial Production ( IIP ) showed robust growth of 22.4 % in the month of March 2021 compared with the corresponding month of previous year ( March 2020 ) . The growth was 6.1 % in Mining , 25.8 % in Manufacturing and a growth of 22.5 % in Electricity production .

The cumulative decline for the financial year from April 2020 to March 2021 stands at 8.6 % compared with the same period previous year ( April 2019 to February 2020 ) . The decline was contributed by 7.8 % in Mining , 9.8 % contraction in Manufacturing and 0.5 % contraction in Electricity production .

The quick estimate of IIP with base 2011-12 stood at 143.4 for the month of March 2021 against 117.2 in March 2020 .

To read the Press Release of the ministry ,  CLICK HERE

RETAIL INFLATION DIPS IN APRIL 2021 : STATISTICAL MINISTRY

DATED 14.05.2021 :    According to press release of Department of Statistics , Government of India released on 12.05.2021 , Inflation rate as measured by Consumer Price Index ( CPI ) again rose to 4.29 % in April 2021 against 5.52   % in March 2021 . Food inflation is at the tolerable rate of 2.66% . The inflation rate is now slightly higher than the midterm range of 4 % set by Reserve Bank of India , but within the tolerance band .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION CONTRACTS IN FEBRUARY 2021 TOO : STATISTICAL MINISTRY

DATED 13.04.2021 : According to press release of Department of Statistics , Government of India released on 12.04.2021 , Index of Industrial Production ( IIP ) showed contract of 3.6 % in the month of February 2021 compared with the corresponding month of previous year ( February 2020 ) . The contraction was 5.5 % in Mining , 3.7 % in Manufacturing and a nominal growth of 0.1 % in Electricity production .

The cumulative decline for the financial year from April 2020 to February 2021 stands at 11.3 % compared with the same period previous year ( April 2019 to February 2020 ) . The decline was contributed by 9.6 % in Mining 12.6 % contraction in Manufacturing and 2.4 % contraction in Electricity production .

The quick estimate of IIP with base 2011-12 stood at 129.4 for the month of February 2020 against 134.2 in February 2020 .

To read the Press Release of the ministry ,  CLICK HERE

RETAIL INFLATION UP AGAIN IN MARCH 2021 : STATISTICAL MINISTRY

DATED 13.04.2021 :    According to press release of Department of Statistics , Government of India released yesterday , Inflation rate as measured by Consumer Price Index ( CPI ) again rose to 5.52 % in March 2021 against 5.03   % in February 2021 . However CPI for March 2021 is lower than the last year CPI of 5.91 % for March 2020 . Food inflation is at the tolerable rate of 4. 94 % , but higher compared to March 2020 rate . The inflation rate is now higher than the midterm range of 4 % set by Reserve Bank of India , but within the tolerance band .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION CONTRACTS 1.6 % JANUARY 2021: STATISTICAL MINISTRY

DATED 13.03.2021 : According to press release of Department of Statistics , Government of India released on 12.03.2021 , Index of Industrial Production ( IIP ) showed contract of 1.6 % in the month of January 2021 compared with the corresponding month of previous year ( January 2020 ) . The contraction was 3.7 % in Mining , 2.0 % in Manufacturing and a growth of 5.5 % in Electricity production .

The cumulative decline for the financial year from April 2020 to January 2021 stands at 12.2 % compared with the same period previous year ( April 2019 to January 2020 ) . The decline was contributed by 10.4 % growth in Mining 13.6 contraction in % in Manufacturing and 2.7 % contraction in Electricity production .

The quick estimate of IIP with base 2011-12 stood at 135. 2 for the month of January 2020 against 137.4 in January 2020 .

To read the Press Release of the ministry ,  CLICK HERE

RETAIL INFLATION UP AT 5.03 % IN FEBRUARY 2021 : STATISTICAL MINISTRY

DATED 13.03.2021 :    According to press release of Department of Statistics , Government of India released yesterday , Inflation rate as measured by Consumer Price Index ( CPI ) again rose to 5.03 % in February 2021 against 4.06 % in January 2021 . However CPI for February 2021 is lower than the last year CPI of 6.58 % for February 2020 . Food inflation is at the tolerable rate of 4.25 % . The inflation rate is now higher than the midterm range of 4 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

FINALLY GDP EXPANDS IN Q3 : STATISTICAL MINISTRY
Quarter 3 Growth at 0.4 % over the previous year

DATED 26.02.2021 :       According to today's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the quarter ending December 2020 ( Q3 ) of FY 2020-21 has shown a nominal growth of 0.4 % .

The press report says   " GDP at Constant (2011-12) Prices in Q3 of 2020-21 is estimated at ₹ 36.22 lakh crore, as against ₹ 36.08 lakh crore in Q3 of 2019-20, showing a growth of 0.4 percent "

Some of the sectors which showed huge growth are Agriculture 3.9 % , Manufacturing 1.6 % & Electricity 7.3 % and services 6.6 % . The sectors which are still showing contraction are Mining - 5.9 % and Hotel & Transaportation at - 7.7 %

GDP had contracted 24.4 % % IN Q1 of this year 2020-21 and 7.3 % in q2 .

To read the press release , CLICK HERE

INDUSTRIAL PRODUCTION GROWS 1.0 % IN DECEMBER 2020: STATISTICAL MINISTRY

DATED 13.02.2021 : According to press release of Department of Statistics , Government of India released on 12.02.2021 , Index of Industrial Production ( IIP ) showed a growth of 1.0 % in the month of December 2020 compared with the corresponding month of previous year ( December 2019 ) . The contraction was 4.8 % in Mining , 1.6 % growth in Manufacturing and a growth of 5.1 % in Electricity production .

The cumulative decline for the financial year from April 2020 to December 2020 stands at 13.5 % compared with the same period previous year ( April 19 to December 2019 ) . The decline was contributed by 0.6 % growth in Mining , 15.1 contraction in % in Manufacturing and 3.6 % contraction in Electricity production .

The quick estimate of IIP with base 2011-12 stood at 135.9 for the month of December 2020 against 134.5 in December 2019 .

To read the Press Release of the ministry ,  CLICK HERE

RETAIL INFLATION COOLS TO 4.06 % IN JANUARY 2021 : STATISTICAL MINISTRY

DATED 13.02.2021 :    According to press release of Department of Statistics , Government of India released yesterday , Inflation rate as measured by Consumer Price Index ( CPI ) softened to 4.06% in January 2021 against 4.59 % in December 2020 . CPI for November 2020 is also lower than the last year CPI of 7. 59 % for January 2020 . Food inflation is also lower at the rate of just 2.67 % . The inflation rate is now near the midterm range of 4 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

ECONOMIC SURVEY 2021

SOURCE : PIB OF INDIA

INDIA TO CONTRACT BY 7.7 % IN 2021 : ECONOMIC SURVEY

Dated 30.01.2021 : The economic survey 2021 was presented to the parliament yesterday by Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman . Key points presented in the economic survey are :

1.India’s GDP is Estimated to Contract by 7.7 Per Cent in FY2020-21
2. Agriculture to Clock 3.4 Per Cent Growth, While Industry and Services to Contract by 9.6 Per Cent and 8.8 Per Cent Respectively this Year This Year .
3. India to Have a Current Account Surplus of 2 Per Cent of GDP in FY21 .
4. Net FPI Inflows Recorded an All-Time Monthly High of 9.8 Billion Dollars in November 2020 .

Economic Survey also expects that India’s real GDP to record a growth of 11 per cent in 2021-22 and nominal GDP by 15.4 per cent .

To read the key highlights of the economic survey , CLICK HERE

RETAIL INFLATION MODERATES TO 4.59 % IN DECEMBER 2020 : STATISTICAL MINISTRY

DATED 13.01.2021 :    According to press release of Department of Statistics , Government of India released yesterday , Inflation rate as measured by Consumer Price Index ( CPI ) softened to 4.59 % in December 2020 against 6.93 % in November 2020 . CPI for November 2020 is also lower than the last year CPI of 7.35 % for December 2019 . However the rate is also higher than the midterm range of 4 % set by Reserve Bank of India , but within the upper band set at 6 % .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION CONTRACTS 1.9 % IN NOVEMBER 2020: STATISTICAL MINISTRY

DATED 13.01.2021 : According to press release of Department of Statistics , Government of India released on 12.02.2021 , Index of Industrial Production ( IIP ) showed a contraction of 1.9 % in the month of November 2020 compared with the corresponding month of previous year ( November 2019 ) . The contraction was 7.3 % in Mining , 1.7 % in Manufacturing and a growth of 3.5 % in Electricity .

The cumulative decline for the financial year from April 2020 to November 2020 stands at 15.5 % compared with the same period previous year ( April 19 to November 2019 ) . The decline was contributed by 12.5  % in Mining , 17.3 % in Manufacturing and 4.6 % in Electricity .

The quick estimate of IIP with base 2011-12 stood at 126.3 for the month of November 2020 against 128.8 in November 2019 .

To read the Press Release of the ministry ,  CLICK HERE

RETAIL INFLATION GOES UP TO 6.93 % IN NOVEMBER 2020 : STATISTICAL MINISTRY

DATED 15.12.2020 :    According to press release of Department of Statistics , Government of India released yesterday , Inflation rate as measured by Consumer Price Index ( CPI ) softened to 6.93 % in November 2020 against 7.61 % in October 2020 . CPI for November 2020 is much higher than the last year CPI of 5.54 % for November 2019 . The rate is also higher than the midterm range of 4 % set by Reserve Bank of India and higher than the upper band set at 6 % .

The food inflation for October 2020 was at 8.76 % compared with the figures of November 2019

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION SHOWS GROWTH OF 3.6 % IN OCTOBER 2020: STATISTICAL MINISTRY

DATED 15.12.2020 : According to press release of Department of Statistics , Government of India released on 12.12.2020 , Index of Industrial Production ( IIP ) showed a marginal increase of 3.6 % in the month of October 2020 compared with the corresponding month of previous year ( October 2019 ) . The growth was contraction of 1.5 % in Mining , 3.5 % growth in Manufacturing and growth of 11.2 % in Electricity .

The cumulative decline for the financial year from April 2020 to October 2020 stands at 17.5 % compared with the same period previous year ( April 19 to October 2019 ) . The decline was contributed by 13.3  % in Mining , 19.7 % in Manufacturing and 5.6 % in Electricity .

The quick estimate of IIP with base 2011-12 stood at 128.5 for the month of October 2020 against 124.0 in October 2019 .

To read the Press Release of the ministry ,  CLICK HERE

GDP CONTRACTS IN Q2 ALSO : STATISTICAL MINISTRY
Quarter 2 contraction is 7.5 %

DATED 27.11.2020 :       According to today's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the quarter ending September 2020 ( Q2 ) of FY 2020-21 has contracted 7.5 % compared with 4.4 % growth of the quarter Q2 of 2019-20 ( ending September 2019 ) .

The press report says   " GDP at Constant (2011-12) Prices in Q2 of 2020-21 is estimated at ₹ 33.14 lakh crore,  as against ₹ 35.84 lakh crore in Q2 of 2019-20, showing a contraction of 7.5 percent as  compared to 4.4 percent growth in Q2 2019-20. Quarterly GVA at Basic Prices at Constant  (2011-12) Prices for Q2 of 2020-21 is estimated at ₹30.49 lakh crore, as against ₹ 32.78 lakh  crore in Q2 of 2019-20, showing a contraction of 7.0 percent "

Some of the sectors showed huge negative growth are Transportation ( Passengers at Air port 77.4 % , Railway passengers 98 % , sales of commercial vehicles 20.1 % ) .

The growth is found in banking sector with deposits growing by 10.5 % and credits by 5.1 % .

GDP had contracted 23.9 % % IN Q1 of this year 2020-21 and contraction of just 7.5 % shows improvement of the economy compared to Q1 .

To read the press release , CLICK HERE

INDUSTRIAL PRODUCTION SHOWS MARGINAL GROWTH OF 0.2 % IN SEPTEMBER 2020: STATISTICAL MINISTRY

DATED 13.11.2020 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) showed a marginal increase of 0.2 % in the month of September 2020 compared with the corresponding month of previous year ( September 2019 ) . The growth was 1.4 % in Mining , 0.6 % contraction in Manufacturing and growth of 4.9 % in Electricity .

The cumulative decline for the financial year from April 2020 to September 2020 stands at 21.1 % compared with the same period previous year ( April 19 to September 2019 ) . The decline was contributed by 15.3   % in Mining , 23.6 % in Manufacturing and 8.0 % in Electricity .

The quick estimate of IIP with base 2011-12 stood at 123.2 for the month of September 2020 against 122.9 in September 2019 .

To read the Press Release of the ministry ,  CLICK HERE

RETAIL INFLATION GOES UP TO 7.61 % IN OCTOBER 2020 : STATISTICAL MINISTRY

DATED 13.11.2020 :    According to press release of Department of Statistics , Government of India released yesterday , Inflation rate as measured by Consumer Price Index ( CPI ) softened to 7. 61 % in Octo ber 2020 against 7.27 % in September 2020 . CPI for October 2020 is much higher than the last year CPI of 4.62 % for October 2019 . The rate is also higher than the midterm range of 4 % set by Reserve Bank of India and higher than the upper band set at 6 % .

The food inflation for October 2020 was at 10. 11 % compared with the figures of October 2019

To read the Press Release of the ministry ,   CLICK HERE

RETAIL INFLATION GOES UP TO 7.34 % IN SEPTEMBER 2020 : STATISTICAL MINISTRY

DATED 12.10.2020 :    According to press release of Department of Statistics , Government of India released today , Inflation rate as measured by Consumer Price Index ( CPI ) softened to 7.34 % in September 2020 against 6. 69 % in  August 2020 . CPI for September 2020 is much higher than the last year CPI of 3.21 % for August  2019 . The rate is also higher than the midterm range of 4 % set by Reserve Bank of India and marginally higher than the upper band set at 6 % .

The food inflation for September 2020 was at 10.60 % compared with the figures of September 2019

To read the Press Release of the ministry ,   CLICK HERE

RETAIL INFLATION SOFTENS TO 6.69 % IN AUGUST 2020 : STATISTICAL MINISTRY

DATED 15.09.2020 :    According to press release of Department of Statistics , Government of India released yesterday , Inflation rate as measured by Consumer Price Index ( CPI ) softened to 6.69 % in August 2020 against 6.73 % in July 2020 . But CPI for August   2020 is much higher than the last year CPI of 3.99 % for September 2019 . The rate is also higher than the midterm range of 4 % set by Reserve Bank of India and marginally higher than the upper band set at 6 % .
The food inflation for August 2020 was at 9.05 % compared with the figures of August 2019 .
.

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION IN NEGATIVE GROWTH OF 10.4 % IN JULY 2020: STATISTICAL MINISTRY

DATED 12.09.2020 : According to press release of Department of Statistics , Government of India released on 11.09.2020 , Index of Industrial Production ( IIP ) showed a decline of 10.4 % in the month of July 2020 compared with the corresponding month of previous year ( July 2019 ) . The contraction was 13 % in Mining , 11.1 % in Manufacturing and 2.5 % in Electricity .

The cumulative decline for the financial year from April 2020 to July 2020 stands at 29.2 % compared with the same period previous year ( April 19 to July 2019 ) . The decline was contributed by 20.2  % in Mining , 32.8 % in Manufacturing and 12.5 % in Electricity .

The quick estimate of IIP with base 2011-12 stood at 118.1 for the month of July 2020 against 131.8 in July 2019 .

To read the Press Release of the ministry ,  CLICK HERE

GDP CONTRACTS 23.9 % % IN Q1 OF THE YEAR 2020-21 : STATISTICAL MINISTRY

DATED 31.08.2020 :       According to today's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the quarter ending June 2020 ( Q1 ) of FY 2020-21 has crashed 23.9 % compared with 5.2 % growth of the quarter Q1 of 2019-20 ( ending June 2019 ) .

The press report says   "   GDP at Current Prices in the year Q1 2020-21 is estimated at ₹ 38.08 lakh crore, as against ₹ 49.18 lakh crore in Q1 2019-20, showing a contraction of 22.6 percent as compared to  8.1 percent growth in Q1 2019-20 "

Some of the sectors showed huge negative growth are Transportation ( Passengers at Air port 94.1 % , Railway passengers 99.5 % , sales of commercial vehicles 84.8 % ) , Manufacturing by 40.7 % , Mineral production by 43.3 % , Steel consumption by 56.8 % and cemeny by 38.3 % .

The growth is found in banking sector with deposits growing by 9.6 % and credits by 5.6 %

To read the press release , CLICK HERE

GDP CRASHES 23.9 % IN Q1 OF FY 2020-21

FOR NEWS ON INDIAN ECONOMY IN 2017-18 , click here

RBI PAINTS GLOOMY PICTURE OF INDIAN ECONOMY

RETAIL INFLATION INCHES UP TO 6.93 % IN JULY 2020 : STATISTICAL MINISTRY

DATED 14.08.2020 :    According to press release of Department of Statistics , Government of India released yesterday , Inflation rate as measured by Consumer Price Index ( CPI ) went up to 6.93 % in July 2020 against 6.23 % in June 2020 . The ministry had skipped the figures regarding May 2020 . . But CPI for July   2020 is much higher than the last year CPI of 3.15 % for July  2019 . The rate is also higher than the midterm range of 4 % set by Reserve Bank of India and marginally higher than the upper band set at 6 % .

To read the Press Release of the ministry ,   CLICK HERE

POOREST ARE HARDEST HIT : RBI REPORT

Dated 28.08.2020 : Reserve Bank of India ( RBI ) released its annual report for the period ending June 2020 wherein it assessed the state of Indian economy viz a viz Global economy .

While the report noted that the poorest were hardest hit in the on going pandemic crisis and economic slowdown , some of the key points noted by the report were

1. The year 2019-20 (April-March) marked  India’s lowest gross domestic product (GDP)  growth since the global financial crisis (GFC).
2. The pandemic has exposed new inequities -  white collar employees can work from home while essential workers have to work on site, exposed to the risk of getting infected. In some areas of work such as hospitality, hotels and restaurants, airlines and tourism, employment losses are more severe than in other areas. The poorest have been hit the hardest.
3. A perceptible slowdown in the industrial  sector has set in after 2015-16, with its epicentre  in manufacturing. ( 1.16 )
4.   Service sector also showed lower growth during 2019 -29 and some of the reasons were grounding of an airline; financial sector stress; stalled construction projects; revenue-related issues in telecom; port activity impeded by muted foreign trade; coal production losses impacting railway freight traffic - operated in conjunction with  the slowdown in aggregate demand to pull the sector’s output to its lowest growth in two decades. ( 1.17 )
5.   On Retail Inflation : The prices of non-discretionary essential items have surged even as many discretionary items have gone out of transactions.
6. On Investment :  Precautionary  saving instincts have gripped businesses and  households amidst heightened risk aversion,  while the appetite for investment has evaporated. ( 1.25 )
7. Call for Monetisation of Government Assets : Targeted public investment funded by  monetisation of assets in steel, coal, power, land,
railways and privatisation of major ports by central and state governments under an independent  regulator can be the way forward to revive
and crowd in private investment. ( 1.33 )
8.   DOWNTURN TO CONTINUE : India’s potential  output can undergo a structural downshift as the recovery driven by stimulus and regulatory  easing gets unwound in a post-pandemic scenario.

The annual report is not only detailed report on the working of RBI , but also of the state of India in economic and monetary fields .
To read complete report , CLICK HERE

INDUSTRIAL PRODUCTION IN NEGATIVE GROWTH OF 16.6 % IN JUNE 2020: STATISTICAL MINISTRY

DATED 14.08.2020 : According to press release of Department of Statistics , Government of India released on 11.08.2020 , Index of Industrial Production ( IIP ) showed a decline of 16.6 % in the month of June 2020 compared with the corresponding month of previous year ( June 2019 ) . The cumulative decline for the financial year from April 2020 to June 2020 stands at 35.9 % compared with the same period previous year ( April 19 to June 2019 ) .

The quick estimate of IIP with base 2011-12 stood at 120.8 for the month of June 2020 against 142.6 in June 2019 .

To read the Press Release of the ministry , CLICK HERE

RETAIL INFLATION IS AT 6.09 % IN JUNE 2020 : STATISTICAL MINISTRY

DATED 14.07.2020 :    According to press release of Department of Statistics , Government of India released yesterday , Inflation rate as measured by Consumer Price Index ( CPI ) moderated to 6.09 % ( provisional ) in June 2020 . The ministry had skipped the figures regarding May 2020 . . But CPI for June   2020 is much higher than the last year CPI of 3.18 % for June   2019 . The rate is also higher than the midterm range of 4 % set by Reserve Bank of India and marginally higher than the upper band set at 6 % .

To read the Press Release of the ministry ,   CLICK HERE

INDIAN ECONOMY TO CONTRACT IN FIRST HALF : RBI

Dated 06.08.2020 : Mr Shaktikantha Das , Governor of Reserve Bank of India , has voiced concerns over the state of Indian economy , in the bi-monthly meeting MPC ( Monetary Policy Committee ) meeting held during first week of this month . RBI expects contraction of Indian Economy during the first half year of the current financial year 2020-21. Further he expects Inflation to continue at higher levels during the second quarter of the year .

ECONOMIC GROWTH ON CONTRACTION :

The committee noted " The pace of contraction of industrial production, measured by the index of industrial production (IIP), moderated to (-) 34.7 per cent in May from (-) 57.6 per cent a month ago, with the easing of lockdowns in different parts of the country. All manufacturing sub-sectors, except pharmaceuticals, remained in negative territory. The output of core industries in June contracted for the fourth successive month though with a considerable moderation. The Reserve Bank’s business assessment index (BAI) for Q1:2020-21 hit its lowest mark in the survey’s history. The manufacturing PMI remained in contraction, shrinking further to 46.0 in July from 47.2 in the preceding month. "

RBI expected real GDP growth to be negative, for the year 2020-21, as a whole. RBI hoped that early containment of the COVID-19 pandemic may impart an upside to the outlook. But more protracted spread of the pandemic, deviations from the forecast of a normal monsoon and global financial market volatility are the key downside risks.

INFLATION ON RISE :

The committee took note of sharp upward revision of food inflation for the month of April and May. During Q1:2020-21 food inflation moderated from 10.5 per cent in April to 7.3 per cent in June 2020. Further it observed that "Fuel inflation edged up as international kerosene and LPG prices firmed up. Inflation excluding food and fuel was at 5.4 per cent in June, reflecting a spike in prices across most sub-groups. Inflation in transport and communication, personal care and effects, pan-tobacco and education registered significant increases in June. Headline CPI inflation, which was at 5.8 per cent in March 2020 was placed at 6.1 per cent in the provisional estimates for June 2020."

To read the complete statement of RBI , CLICK HERE

FITCH DOWNGRADES INDIAN OUTLOOK

FITCH REVISES INDIA ' S OUTLOOK TO NEGATIVE AND EXPECTS INDIA TO CONTRACT BY 5 %

Dated 18.06.2020 : International Credit rating agency M/S Fitch Ratings has today revised the Outlook on India's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the rating at 'BBB-'.

As per Fitch , the coronavirus pandemic has significantly weakened India's growth outlook for this year and exposed the challenges associated with a high public-debt burden. Fitch expects economic activity to contract by 5% in the fiscal year ending March 2021 (FY21) from the strict lockdown measures imposed since 25 March 2020,

However silver-lining is that Fitch Report sees Indian economy to rebound by 9.5% in FY22. The rebound is expected due to a low-base effect. Fitch says that forecasts are subject to considerable risks due to the continued acceleration in the number of new COVID-19 cases as the lockdown is eased gradually.

Further Fitch says " Fiscal metrics have deteriorated significantly, notwithstanding the government's expenditure restraint, due to the impact of the severe growth slowdown on revenue, the fiscal deficit and public-sector debt ratios. Fitch expects general government debt to jump to 84.5% of GDP in FY21 from an estimated 71.0% of GDP in FY20. This is significantly higher than the median of 42.2% of GDP for the 'BBB' category in 2019, to which FY20 corresponds, and 52.6% for 2020. The medium-term fiscal outlook is of particular importance from a rating perspective, but is subject to great uncertainty and will depend on the level of GDP growth and the government's policy intentions. "

For complete Fitch Report , visit Fitch website

MOODY'S DOWNGRADES INDIA'S RATINGS

MOODY'S DOWNGRADES INDIA'S RATINGS :

Dated 02.06.2020 : Moody's Investors Service ("Moody's") has yesterday downgraded the Government of India's foreign-currency and local-currency long-term issuer ratings to Baa3 from Baa2. Moody's has also downgraded India's local-currency senior unsecured rating to Baa3 from Baa2, and its short-term local-currency rating to P-3 from P-2. The outlook remains negative.

Rating Baa3 is the lowest rating in the investment grade and a notch better than the junk .

The decision to downgrade India's ratings reflects Moody's view that the Indian Government may face difficulties in improving the growth rate It also fears that fiscal position of India may deteriorate effecting the financial sector.

The negative outlook reflects downside risks from for the economy and financial system that could lead to a more severe and prolonged erosion in fiscal strength .

Moody's also lowered India's long-term foreign-currency bond and bank deposit ceilings to Baa2 and Baa3, from Baa1 and Baa2, respectively. The short-term foreign-currency bond ceiling remains unchanged at Prime-2, and the short-term foreign-currency bank deposit ceiling was lowered to Prime-3 from Prime-2. The long-term local currency bond and bank deposit ceilings were lowered to A2 from A1.

The credit rating agency expects that the longer term, growth rates of India are likely to be lower than in the past, due to persistent weak private sector investment, tepid job creation and an impaired financial system. In turn, a prolonged period of slower growth may dampen the pace of improvements in living standards that would help support sustained higher investment growth and consumption.

Further Moody's does not expect that the recent stimulus measures taken by the government will durably restore real GDP growth to rates around 8%, which had seemed within reach just a few years ago.

GDP GROWTH AT 3.1 % % IN Q4 OF THE YEAR 2019-20 : STATISTICAL MINISTRY

DATED 29.05.2020 :       According to today's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the quarter ending March 2020 ( Q4 ) has further slipped to 3.1 % from 4.1 % ( Revised ) of the earlier quarter Q3 of 2019-20 ( ending December 2019 ) . It is the lowest quarterly growth in recent years .

The press report says "GDP at Constant (2011-12) Prices in Q4 of 2019-20 is estimated at ₹ 38.04 lakh crore, as against ₹ 36.90 lakh crore in Q4 of 2018-19, showing a growth of 3.1 percent .   "

GDP GROWTH AT 4.2 % FOR THE COMPLETE YEAR 2019-20

Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2019-  20 is now estimated to attain a level of ₹ 145.66 lakh crore, as against the First Revised Estimate of GDP for the year 2018-19 of ₹ 139.81 lakh crore, released on 31st January 2020. The growth in GDP during 2019-20 is estimated at 4.2 percent as compared to 6.1 percent in 2018-19. The growth is lowest in the alst 11 years .

Further the quarterly estimates for earlier quarters is revised downward . Now Q1 Growth estimated at 5.2 %( earlier at 5.6 % ), Q2 Growth estimated at 4.4 %( earlier at 5.1 ) and and Q3 Growth estimated at 4.41 %( earlier at 4.7 % )

To read the complete report , CLICK HERE

FITCH FORECASTS NEGATIVE GROWTH FOR INDIA

Dated 27.05.2020 : International Credit rating agency M/S Fitch Ratings , in their Global Economic report published yesterday , have a forecast of contract of Indian economy by 5 % in the current fiscal year 2020-21 . It is a drastic change in their forecast as they had earlier estimated a nominal growth of 0.8 % in their April report . Though the current report has cut growth forecasts for various countries , the cut in India's growth is the highest compared with their April report .

The report forecasts China 's growth to be 0.7 % , same as expected in April report . Most of the other economies are expected to shrink by 5% to 10 % . ( USA -5.6 % , Japan - 5% , Russia -5% , Brazil -6% , Italy -8 % , , France - 9% , Italy - 9.6 % )

However silver-lining is that Fitch sees world recession bottoming out shortly .

ATMA NIRBHAR BHARAT ABHIYAN

20.05.2020 : Subsequent to PM's announcement of economic stimulus package called Atmanirbhar Bharat Abhiyan , Finance Minister announced the details of the package in 5 tranches for 5 consecutive days . For details of the scheme , CLICK HERE

ECONOMIC STIMULUS PACKAGE FOR RS 2 MILLION CRORES : PM

DATED 12.05.2020 : Today , in a national address , Prime Minister Mr Narendra Modi announced a new stimulus economic package of Rs 20 Lakh Crores to fight the economic downturn the country is facing . He also called for self reliance to promote Indian products . The details of the package called " Atmanirbhar Bharat Abhiyan " will be announced in next one week by the Finance Minister Ms Nirmala Sitharaman . The quantum of stimulus works out out around 10 % of Indian GDP .

He also talked about Lockdown 4.0 , details of which will be announced before 18th of this month

INDUSTRIAL PRODUCTION SHRINKS RECORD LOW IN MARCH 2020: STATISTICAL MINISTRY

DATED 12.05.2020 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) has shrunk 16.7 % in the month of March 2020 compared with the corresponding month of previous year ( March 2019 ) . The cumulative growth for the financial year from April 2019 to March 2020 stands Negative 0.7 % compared with the same period previous year ( April 18 to March 2019 ) .

The quick estimate of IIP with base 2011-12 stood at 120.1 for the month of March 2019 against 144.1 in March 2019 .

To read the Press Release of the ministry , CLICK HERE

RETAIL INFLATION MODERATES TO 5.91 % IN MARCH 2020 : STATISTICAL MINISTRY

DATED 14.04.2020 :    According to press release of Department of Statistics , Government of India released yesterday , Inflation rate as measured by Consumer Price Index ( CPI ) moderated to 5.91 % ( provisional ) in March 2020 compared to the figure of 6.58 % ( final ) of previous month February 2020 . But CPI for March   2020 is much higher than the last year CPI of 2.86 % for March   2019 . The rate is also higher than the midterm range of 4 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION GROWS AT 4.5 % IN FEBRUARY 2020: STATISTICAL MINISTRY

DATED 12.04.2020 : According to press release of Department of Statistics , Government of India released on 09.04.2020 , Index of Industrial Production ( IIP ) has a growth of 4.5 % in the month of February 2020 compared with the corresponding month of previous year ( February 2019 ) . The cumulative growth for the financial year from April 2019 to February 2020 stands at 0.9 % compared with the same period previous year ( April 18 to February 2019 ) .

The quick estimate of IIP with base 2011-12 stood at 133.3 for the month of February 2020 against 127.6 in February 2019 .

To read the Press Release of the ministry , CLICK HERE

MOODY'S DOWNGRADES INDIA'S GROWTH AND PREDICTS GLOBAL RECESSION :

Dated 29.03.2020 : M/S Moody's Investor Services drastically cut India's Growth prospectus for the year 2020 to 2.5 % while predicting Global growth to be negative to the extent of 0.5 % .

Moody's expects phenomenal unprecedented shock to global economy in the year 2020 by the pandemic Covid-19 . However it expects India as well as the world to recover from the shock in 2021 . Hence it expects a turnaround in global economy in 2021 with a growth expectation of 3.2 % . Similarly it expects Indian economy to grow robustly by 5.8 % in 2021 .

FM ANNOUNCES ECONOMIC PACKAGE OF RS 1.7 LAKH CRORES FOR THE POOR AND THE FARMERS

Dated 26.03.2020 : In view of the present scenario unfolding in India in the wake of spread of pandemic , Finance Minister Ms Nirmala Sitharaman announced various measures to help the poor , women , farmers and marginalized section of the society . The economic relief package is expected to cost the exchequer Rs 1.7 lakh crores . The relief includes

1. Rs 50 lakhs insurance to health care sanitation workers, ASHA workers, doctors, nurses, paramedics who are the frontline warriors against the pandemic .
2. 5 kg of rice / wheat to 80 crore people .
3. An ex-gratia amount of Rs 1, 000 for senior citizens and widows
4. Wage rate increase under MNERGA scheme from Rs 182 to Rs 202 .
5. Women Jan dhan account holders to ger Rs 500 per month for 3 months .
6. Free LPG Cylinders for next 3 months under Ujjawala scheme
7. EPF contribution both of the employer and the employee put together 24% for next three months for those establishments with up to 100 employees, 90% of them earning less than Rs 15,000.

Please view the youtube above to hear FM'S speech

RETAIL INFLATION MODERATES TO 6.58 % IN FEBRUARY 2020 : STATISTICAL MINISTRY

DATED 12.03.2020 :    According to press release of Department of Statistics , Government of India released today , Inflation rate as measured by Consumer Price Index ( CPI ) moderated to 6.58 % ( provisional ) in February 2020 compared to the figure of 7.59% ( final ) of previous month January 2020 . But CPI for February   2020 is much higher than the last year CPI of 2.57 % for February  2019 . The rate is also higher than the midterm range of 4 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION TURNS NEGATIVE AGAIN IN DECEMBER 2019 : STATISTICAL MINISTRY

DATED 13.02.2020 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) has turned negative again with 0.3 % contraction in the month of December 2019 compared with the corresponding month of previous year ( December 2018 ) . The cumulative growth for the financial year from April to December 19 stands at 0.5 % compared with the same period previous year ( April 18 to December 2018 ) .

We may recall here that Industrial production had contracted by 1.1 % in August 2019 , 4.3 % in September 2019 and 3.8% in October 2019 and turned positive in November 2019 by 1.8 % growth .

The quick estimate of IIP with base 2011-12 stood at 127.7 for the month of December 2019 was at 133.5 against 133.9 in December 2018 .

To read the Press Release of the ministry , CLICK HERE

GDP GROWTH REVISED LOWER TO 6.1 % FOR THE YEAR 2018-19 : STATISTICAL MINISTRY

DATED 31.01.2020 :       According to press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) for the financial year 2018-19 is revised to 6.1 % from the earlier estimated growth rate of 6.8 % . Further The GDP growth for the year fy 2017-18 is now pegged to 7 % only

The press report says " Real GDP or GDP at constant (2011-12) prices for the years 2018-19 and 2017-18 stand at ₹  139.81 lakh crore and ₹ 131.75 lakh crore, respectively, showing growth of 6.1 per cent during 2018-19 and 7.0 per cent during 2017-18. "

To read complete press report , CLICK HERE

RETAIL INFLATION SPIKES TO 6 YEARS HIGH AT 7.35 % IN DECEMBER 2019 : STATISTICAL MINISTRY

DATED 14.01.2020 :    According to press release of Department of Statistics , Government of India released yesterday , Inflation rate as measured by Consumer Price Index ( CPI ) increased to 7.35 % ( provisional ) in December 2019 compared to the figure of 5.54 % ( final ) of previous month November 2019 . CPI for December  2019 is also much higher than the last year CPI of 2.11 % for December  2018 . The rate is now higher than the midterm range of 4 % set by Reserve Bank of India .

CPI has reached 6 years peak in December 2019 and it has breached for the first time since July 2016 the range of
2 % to 6 % set by RBI

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION HAS TURNED POSITIVE IN NOVEMBER 2019 : STATISTICAL MINISTRY

DATED 11.01.2020 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) has shown growth of 1.8 % for the month of November 2019 compared with the corresponding month of previous year ( November 2018 ) . The cumulative growth for the financial year from April to November 19 stands at 0.6 % compared with the same period previous year ( April 18 to November 2018 ) .

We may recall here that Industrial production had contracted by 1.1 % in August 2019 , 4.3 % in September 2019 and 3.8% in October 2019 .

The quick estimate of IIP with base 2011-12 stood at 127.7 for the month of November 2019 was at 128.4 against 126.1 in November 2018 .

To read the Press Release of the ministry , CLICK HERE

FITCH FURTHER CUTS INDIAN GROWTH FORECAST AND EXPECTS FURTHER RATE CUTS :

Dated 21.12.2019 : International Credit rating agency M/S Fitch Ratings , in their special report published on 20.12.2019 , cut their growth forecast for India , fourth time in the year , to 4.6 % from earlier estimated 5.5 % for the year April 2019 to March 20  . Further they cut the growth forecast to 5.6 % for Fy 20-21 ( Earlier forecast was 6.2 % ) . Fitch also pegged the growth rate to 6.5 % for Fy 2021- 22 .

However they affirmed India Rating at ' BBB- ' Outlook Stable as the present growth   is still higher than the 'BBB' median of 2.8%

Fitch press release states " India's rating balances a still strong medium-term growth outlook compared with 'BBB' category peers and relative external resilience stemming from solid foreign-reserve buffers against high public debt, a weak financial sector and some lagging structural factors, including governance indicators and GDP per capita  . "

Fitch expects the Reserve Bank of India (RBI) to cut its policy rate by another 65bp in 2020, after a cumulative 135bp easing since February 2019. Fitch also thinks that the uptick in inflation to 5.5% yoy in November appears to reflect a temporary spike in food inflation, while pressure on core inflation, which remained stable at 3.5%, seems limited in the current environment .

Fitch feels that ( Indian ) Governance remains weak, as illustrated by a low score for the World Bank governance indicator . India's ranking on the United Nations Human Development Index is also low at 32nd percentile versus the 'BBB' median of 67th percentile also indicates relatively low basic human development. Average per capita GDP also remains low, at USD2,102, compared with the 'BBB' range median of USD12,152.

It is to be noted that already credit agency Moody's , International Monetary Fund ( IMF ) , World Bank apart from India 's regulator Reserve Bank of India have also downed their forecast for Fy 2019-20 .

MOODY'S LOWERS INDIA'S GROWTH FORECAST TO 4.9 % FOR FY 2019-20

Dated 17.12.2019 : International Credit rating agency M/S Moody's Investor Services lowered India' s Growth for the current year FY 2019-20 to 4.9% from 5.8 % predicted earlier . It is reported that the decision of Moody's to lower the forecast is based on " constraints by weakening household consumption, weighing on credit quality"

Further Moody's commented on status of present Indian economy as
"What was once an investment-led slowdown has now broadened into weakening consumption, driven by financial stress among rural households on the back of stagnating agricultural wage growth and constrained productivity, as well as weak job creation due to rigid land and labor laws,"

Another international Credit rating agency M/S Fitch Ratings had cut India's growth forecast for next three years in its October report .

INDUSTRIAL PRODUCTION IS NEGATIVE IN OCTOBER 2019 TOO : STATISTICAL MINISTRY

DATED 12.12.2019 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) has shown a negative growth of 3.8 % for the month of October 2019 compared with the corresponding month of previous year ( October 2018 ) . The cumulative growth for the financial year from April to October 19 stands at 0.5 % compared with the same period previous year ( April 18 to October 18 ) .

We may recall here that Industrial production had contracted by 1.1 % in August 2019 and 4.3 % in September 2019

The quick estimate of IIP with base 2011-12 stood at 127.7 for the month of October 2019 against 132.8 at October 2018 .

To read the Press Release of the ministry , CLICK HERE

RETAIL INFLATION SPIKES TO 3 YEARS HIGH AT 5.54 % IN NOVEMBER 2019 : STATISTICAL MINISTRY

DATED 12.12.2019 :    According to press release of Department of Statistics , Government of India released today , Inflation rate as measured by Consumer Price Index ( CPI ) increased to 5.54 % ( provisional ) in November 2019 compared to the figure of 4.62 % ( final ) of previous month October 2019 . CPI for November  2019 is also much higher than the last year CPI of 2.33 % for November  2018 . The rate is now higher than the midterm range of 4 % set by Reserve Bank of India .

CPI has reached 40 months peak in November 2019 .

To read the Press Release of the ministry ,   CLICK HERE

GDP GROWTH SLIPS TO 6 YEARS LOW AT 4.5 % IN Q2 OF THE YEAR 2019-20 : STATISTICAL MINISTRY

DATED 29.11.2019 :       According to today's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the quarter ending September 2019 ( Q2 ) has further slipped to 4.5 % from 5.0 % of the earlier quarter Q1 of 2019-20 ( ending June 2019 ) . It is the lowest quarterly growth in last 26 quarters .

The press report says " GDP at Constant (2011-12) Prices in Q2 of 2019-20 is estimated at `35.99 lakh crore, as against `34.43 lakh crore in Q2 of 2018-19, showing a growth rate of 4.5 percent. Quarterly GVA (Basic Price) at Constant (2011-2012) Prices for Q2 of 2019-20 is estimated at `33.16 lakh crore, as against `31.79 lakh crore in Q2 of 2018-19, showing a growth rate of 4.3 percent over the corresponding quarter of previous year.   "

To read the complete report , CLICK HERE

GOVERNMENT TO SELL FIVE PUBLIC SECTOR UNITS : FINANCE MINISTER

21.11.2019 : In a press conference held yesterday , Finance Minister Ms Nirmala Sitharaman announced the cabinet decision taken under the leadership of prime Minister Shri Narendra Modi of strategic sale / disinvestment in Five Public Sector units including coveted Bharat Petroleum Corporation Limited ( BPCL ) and Shipping Corporation of India ( SCI ) . The other PSU include Container Corporation of India ( concor ) , Tehri Hydro Development Corporation of India . North Eastern Electric Power Corporation will be handed over to another PSU NTPC .

With the sale of companies along with management control , Government hopes to achieve its annual disinvestment target of Rs 1.05 lakh crore .

RETAIL INFLATION SPIKES UP TO 4.62 % IN OCTOBER 2019 : STATISTICAL MINISTRY

DATED 13.11.2019 :    According to press release of Department of Statistics , Government of India released today , Inflation rate as measured by Consumer Price Index ( CPI ) increased to 4.62 % ( provisional ) in October 2019 compared to the figure of 3.99 % ( final ) of previous month September 2019 . CPI for October  2019 is also higher than the last year CPI of 3.38 % for October  2018 . The rate is now higher than the midterm range of 4 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION IS NEGATIVE IN SEPTEMBER 2019 TOO : STATISTICAL MINISTRY

DATED 11.11.2019 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) has shown a negative growth of 4.3 % for the month of September 2019 compared with the corresponding month of previous year ( September 2018 ) . The cumulative growth for the financial year from April to September 19 stands at 1.3 % compared with the same period previous year ( April 18 to September 18 ) .

We may recall here that Industrial production had contracted by 1.1 % in August 2019

The quick estimate of IIP with base 2011-12 stood at 123.3 for the month of September 2019 against 128.8 at September 18 .

To read the Press Release of the ministry , CLICK HERE

MOODY'S DOWNGRADES INDIA'S OUTLOOK TO NEGATIVE :

Dated 08.11.2019 : International Credit rating agency M/S Moody's Investor Services today downgraded India's sovereign long term rating to Baa2 outlook negative from existing Baa2 outlook stable . . It is reported that the decision of Moody's to downgrade is based on expectation of " risk of lower economic growth "

Further Moody's expect more entrenched slowdown and resultant increase of budget deficit . It states
"Despite government measures to help reduce the depth and duration of India’s slowdown in economic growth, prolonged financial stress among rural households, weak job creation, and a credit crunch among non-bank financial institutions have increased the probability of a more entrenched slowdown. If nominal GDP growth does not return to higher rates, the government will face significant constraints in narrowing its budget deficit and preventing a rise in debt. "
Recently another international Credit rating agency M/S Fitch Ratings had cut India's growth forecast for next three years

FITCH FURTHER CUTS INDIAN GROWTH FORECAST FOR THE NEXT THREE YEARS :

Dated 25.10.2019 : International Credit rating agency M/S Fitch Ratings , in their special report published on 23.10.2019 , cut their growth forecast for India , third time in the year , to 5.5 % from earlier estimated 6.6 % for the year April 2019 to March 20 . Further they cut the growth forecast to 6.2 % for Fy 20-21 ( Earlier forecast was 7.1 % ) . Fitch also pegged the growth rate to 6.7 % for Fy 2021- 22 .

Fitch press release states " The Indian economy decelerated for the fifth consecutive quarter in 2Q19, with GDP expanding by a meagre 5% yoy, down from 8% recorded a year earlier. This is the lowest growth out-turn since 2013. Weakness has been fairly broad-based, with both domestic spending and external demand losing momentum. "

Reason attributed by Fitch for lowering their growth forecast is array of factors both global and local . It states " an array of factors have contributed to the Indian slowdown - including a downturn in world trade - Fitch believes that the severe credit squeeze has taken a heavy toll. NBFCs have faced a severe tightening of funding conditions over the past year and a half. They have in turn sharply reduced the supply of credit to the commercial sector. The auto and real estate sectors have been particularly hit by NBFC credit rationing. Data from the Reserve Bank of India (RBI) show that the flow of new lending from non-bank sources was down 60% year on year between April and September. "

It is to be noted that already credit agency Moody's , International Monetary Fund ( IMF ) , World Bank apart from India 's regulator Reserve Bank of India have also downed their forecast for Fy 2019-20 .

RETAIL INFLATION GOES UP TO 3.99 % IN SEPTEMBER 2019 : STATISTICAL MINISTRY

DATED 15.10.2019 :    According to press release of Department of Statistics , Government of India released on 14.10.2019 , Inflation rate as measured by Consumer Price Index ( CPI ) increased to 3.99 % ( provisional ) in September 2019 compared to the figure of 3.28 % ( final ) of previous month August 2019 . CPI for September  2019 is also higher than the last year CPI of 3.70 % for September  2018 . The rate is now around the midterm range of 4 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION IS NEGATIVE IN AUGUST 2019 : STATISTICAL MINISTRY

DATED 12.10.2019 : According to press release of Department of Statistics , Government of India released on 11.10.2019 , Index of Industrial Production ( IIP ) has shown a negative growth of 1.1 % for the month of August 2019 compared with the corresponding month of previous year ( Auhust 2018 ) . The cumulative growth for the financial year from April to August 19 stands at 2.4 % compared with the same period previous year ( April 18 to August 18 ) .

The quick estimate of IIP with base 2011-12 stood at 126.6 for the month of August 2019 against 128.0 at August 18 .

To read the Press Release of the ministry , CLICK HERE

RETAIL INFLATION INCHES UP TO 3.21 % IN AUGUST 2019 : STATISTICAL MINISTRY

DATED 14.09.2019 :    According to press release of Department of Statistics , Government of India released on 12.09.2019 , Inflation rate as measured by Consumer Price Index ( CPI ) increased to 3.21 % ( provisional ) in August 2019 compared to the figure of 3.15 % ( final ) of previous month July 2019 . CPI for August  2019 is lower than the last year CPI of 3.69 % for August    2018 . The rate is much below the midterm range of 4 % set by Reserve Bank of India .

To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION GROWS AT 4.3 % IN JULY 2019 : STATISTICAL MINISTRY

DATED 14.09.2019 : According to press release of Department of Statistics , Government of India released on 12.09.2019 , Index of Industrial Production ( IIP ) has shown a growth of 4.3 % for the month of July 2019 compared with the corresponding month of previous year ( July 2018 ) . The cumulative growth for the financial year from April to July 19 stands at 3.3 % compared with the same period previous year ( April 18 to July 18 ) .

The quick estimate of IIP with base 2011-12 stood at 131.1 for the month of July 2019 against 125.7 at July 18 .

To read the Press Release of the ministry , CLICK HERE

GDP GROWTH FURTHER SLIPS TO 5.0 % IN Q1 OF THE YEAR 2019-20 : STATISTICAL MINISTRY

DATED 01.09.2019 :       According to press release of Department of Statistics , Government of India dated 30.08.2019 , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the quarter ending June 2019 ( Q1 ) has further slipped to 5.0 % from 5.8 % of the earlier quarter Q4 of 2018-19 ( ending March 2019 ) . It is the lowest quarterly growth in recent years .

The press report says " GDP at Constant (2011-12) Prices in Q1 of 2019-20 is estimated at ` 35.85 lakh crore, as  against ` 34.14 lakh crore in Q1 of 2018-19, showing a growth rate of 5.0 percent. Quarterly GVA at Basic Price at Constant (2011-12) Prices for Q1 of 2019-20 is estimated at ` 33.48 lakh crore, as against ` 31.90 lakh crore in Q1 of 2018-19, showing a growth rate of 4.9 percent over  the corresponding quarter of previous year.  "
To read the complete report , CLICK HERE

INDUSTRIAL PRODUCTION GROWS AT 2% IN JUNE 2019 : STATISTICAL MINISTRY

DATED 10.08.2019 : According to press release of Department of Statistics , Government of India released on 09.08.2019 , Index of Industrial Production ( IIP ) has shown a growth of 2 % , a four month low , for the month of June 2019 compared with the corresponding month of previous year ( June 2018 ) . The cumulative growth for the financial year from April to June 19 stands at 3.6 % compared with the same period previous year ( April 18 to June 18 ) .

The quick estimate of IIP with base 2011-12 stood at 130.2 for the month of June 2019 against 127.7 at June 18 .

To read the Press Release of the ministry , CLICK HERE

RETAIL INFLATION FURTHER CLIMBS TO 3.18 % IN JUNE 2019 : STATISTICAL MINISTRY

DATED 13.07.2019 :    According to press release of Department of Statistics , Government of India released on 12.07.2019 , Inflation rate as measured by Consumer Price Index ( CPI ) increased to 3.18 % ( provisional ) in June 2019 compared to the figure of 3.05 % ( final ) of previous month May 2019 . CPI for June  2019 is lower than the last year CPI of 4.92 % for June   2018 . The rate is much below the midterm range of 4 % set by Reserve Bank of India .
To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION GROWS AT 3.1% IN MAY 2019 : STATISTICAL MINISTRY

DATED 13.07.2019 : According to press release of Department of Statistics , Government of India released on 12.07.2019 , Index of Industrial Production ( IIP ) has shown a growth of 3.1 % for the month of May 2019 compared with the corresponding month of previous year ( May 2018 ) . The cumulative growth for the financial year from April to May 19 stands at 3.7 % compared with the same period previous year ( April 18 to May 18 ) .
The quick estimate of IIP with base 2011-12 stood at 133.6 for the month of May 2019 against 129.6 at May 18 .

To read the Press Release of the ministry , CLICK HERE

ECONOMIC SURVEY PEGS GDP GROWTH FOR FY 19-20 AT 7 %

Dated 04.07.2019 : Today the Finance Minister Ms Nirmala Sitharaman tabled the Economic Survey conducted for the previous year 2018-19 wherein GDP Growth for FY 19-20 is pegged at 7 % . The survey states that a growth of 8 % per year is needed to become $ 5 Trillion economy by 2025 .

The highlights of the survey are

1. The survey pegs fiscal deficit for FY2018-19 at 3.4%
2. General fiscal deficit is pegged at 5.8% for fy 18-19 compared with 6.4 % in the previous year
3 . GDP Growth for FY 18-19 is estimated at 6.8 %
4. Direct Taxes have grown at 13.4 % while Indirect taxes have fallen short of estimates by 16 %
5. Need to shift the gear of economy to go in for higher growth
6. Slowdown in economy in last quarter of FY 18-19 due to elections
7. NBFC stress is the reason for slowdown of FY 18-19
8. The Economic Survey is guided by " Blue Sky Thinking "

The Chief Economic Advisor Mr Krishnamurthy Subramanian , while releasing the survey , has praised the government  for opening up several pathways  for trickling -down the benefits of growth to reach the bottom of the pyramid .

To read Complete Economic Survey , CLICK HERE

INDIAN ECONOMIC GROWTH SLOWING DOWN : RBI GOVERNOR AND OTHER MEMBERS

Dated 21.06.2019 : Mr Shaktikantha Das , Governor of Reserve Bank of India , has voiced concerns , in the bi-monthly meeting MPC ( Monetary Policy Committee ) meeting held during first week of this month , over the slowing economic growth in recent quarters of the year .

His statement says " There is clear evidence of economic activity losing traction, with the GDP growth in Q4:2018-19 slowing down to 5.8 per cent. CPI inflation excluding food and fuel registered a 20-month low in April 2019 even as the headline CPI inflation evolved broadly along the projected lines. High frequency indicators suggest that the global economy could not sustain the improved performance in Q1:2019 in the face of a sharp slowdown in trade and manufacturing. Consequently, central banks in both advanced and emerging market economies have adopted an accommodative stance in monetary policy. "

Similarly another committee member Dr V.V.Acharya stated "  I concluded that the mixed picture on economic growth has morphed into one where at least some aspects have weakened considerably over the past two quarters. "

Dr. Michael Debabrata Patra , yet another member submitted to the committee "  . I would submit that all this highlights the deterioration in the outlook for the economy in the year ahead. The recently released estimates of national income for Q4 2018-19 confirm the weakening of economic activity "

    The MPC in their statement noted " growth impulses have weakened significantly as reflected in a further widening of the output gap compared to the April 2019 policy. A sharp slowdown in investment activity along with a continuing moderation in private consumption growth is a matter of concern. The headline inflation trajectory remains below the target mandated to the MPC even after taking into account the expected transmission of the past two policy rate cuts. Hence, there is scope for the MPC to accommodate growth concerns by supporting efforts to boost aggregate demand, and in particular, reinvigorate private investment activity, while remaining consistent with its flexible inflation targeting mandate. "

Against this backdrop of opinions ,  all members of the MPC (Dr. Chetan Ghate, Dr. Pami Dua, Dr. Ravindra H. Dholakia, Dr. Michael Debabrata Patra, Dr. Viral V. Acharya and Shri Shaktikanta Das) unanimously decided to reduce the policy repo rate by 25 basis points and change the stance of monetary policy from neutral to accommodative.

To read the complete minutes of the meeting , CLICK HERE

FITCH FURTHER CUTS INDIAN GROWTH FORECAST AND PREDICTS ONE MORE RATE CUT IN 2019 :

Dated 17.06.2019 : International Credit rating agency M/S Fitch Ratings , in their special report published today , cut their growth forecast for India , second time in the year , to 6.6 % from earlier estimated 6.8 % for the year April 2019 to March 20 . Still according to them , a growth of 7.1 % is possible possible in Fy 20-21 .

Fitch opines that GDP growth in India softened to 5.8 % in Jan 19- Mar 19 quarter due to activities cooling in manufacturing sector and to lesser extent in agriculture sector . It further states :" This is the lowest growth outturn in five years. "

Rating agency also forecasts

" Muted food price inflation has weighed on farmers’ income and production. The contribution of agricultural output to gross value added yoy growth has declined from 1pp in 1Q18 to zero in 1Q19, while food inflation has plummeted from 6.5% yoy to -0.1% yoy. In addition, lower lending by non-bank financial companies has weighed on growth in infrastructure and consumption, even though banks have partially compensated by ramping up their lending to the private sector.

In the face of weak growth momentum and contained inflation, the Reserve Bank of India (RBI) proceeded with a 25bp rate cut in its June meeting – the third cut so far this year. We expect another 25bp cut later in 2019, which will push the policy repo rate down to 5.50%.

Monetary and regulatory easing from the RBI, along with a recovery in portfolio inflows, should support a recovery in credit to the private sector and reverse the drag from the negative credit impulse. Food inflation has already started to pick back up (at 2% yoy in May) and the government has increased cash transfers to farmers in its latest budget, all of which should support rural households’ income and consumption. We see growth for FY 2019-2020 printing at 6.6%, before stepping up to 7.1% in FY 2020-2021 and 7.0% in FY 2021-2022 " .

INDUSTRIAL PRODUCTION GROWS AT 3.4% IN APRIL 2019 : STATISTICAL MINISTRY

DATED 13.06.2019 : According to press release of Department of Statistics , Government of India released on 12.06.2019 , Index of Industrial Production ( IIP ) has shown a growth of 3.4 % for the month of April 2019 compared with the corresponding month of previous year ( April 2018 ) . The cumulative growth for the financial year from April 18 to March 19 stands at 3.6 % compared with the same period previous year ( April 18 to March 18 ) .

The quick estimate of IIP with base 2011-12 stood at 126.8 for the month of April 2019 against 122.6 at April 18 .

To read the Press Release of the ministry , CLICK HERE

RETAIL INFLATION FURTHER CLIMBS TO 3.05 % IN MAY 2019 : STATISTICAL MINISTRY

DATED 13.06.2019 :    According to press release of Department of Statistics , Government of India released on 12.06.2019 , Inflation rate as measured by Consumer Price Index ( CPI ) increased to 3.05 % ( provisional ) in May 2019 compared to the figure of 2.99 % ( final ) of previous month April 2019 . CPI for May 2019 is lower than the last year CPI of 4.87 % for May   2018 . The rate is much below the midterm range of 4 % set by Reserve Bank of India .
To read the Press Release of the ministry ,   CLICK HERE

GDP GROWTH FURTHER SLIPS TO 5.8 % IN Q4 OF THE YEAR 2018-19 : STATISTICAL MINISTRY

DATED 01.06.2019 :       According to press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the quarter ending March 2019 ( Q4 ) has further slipped to 5.8 % from 6.6 % of the earlier quarter Q3 ( ending Dec 2018 ) . It is the lowest quarterly growth for the current year . The overall year on year growth for the Financial year 2018-19 also came down to 6.8 % from 7.2 % in the previous year 2017-18 .

The press report says " Real GDP or GDP at Constant (2011-12) Prices for the year 2018-19 is now estimated at `140.78 lakh crore showing a growth rate of 6.8 percent over First Revised  Estimates of GDP for the year 2017-18 of `131.80 lakh crore, released on 31st January, 2019. "

With GDP slipping to 5.8% in Q4 , India lost the tag of fastest growing economy to China which has shown a growth of 6.4 % in the same period .

To read the complete report , CLICK HERE

NIRMALA SITHARAMAN IS THE NEW FINANCE MINISTER

Dated 31.05.2019 : Ms Nirmala Sitharaman has been appointed as Finance Minister . She was earlier Defence Minister in the previous Modi Government .

59 years old Ms Sitharaman was born in Madurai , Tamilnadu . She has done her Master's Degree from Jawaharlal Nehru University ( JNU ) , Delhi in 1984 .

Her career , before joining politics include
1. salesgirl in Habitat U.K
2 . Assistant to Economist in Agricultural Engineers Association , UK
3. Senior Manager for Price Waterhouse .

She joined the ruling party Bharatiya Janata Party in 2008 and presently Rajyasabha Member from Karnataka .

RETAIL INFLATION FURTHER INCREASES TO 2.92 % IN APRIL 2019 : STATISTICAL MINISTRY

DATED 14.05.2019 :    According to press release of Department of Statistics , Government of India released on 13.05.2019 , Inflation rate as measured by Consumer Price Index ( CPI ) increased to 2.92 % ( provisional ) in April 2019 compared to the figure of 2.86 % ( final ) of previous month March 2019 . CPI for April     2019 is lower than the last year CPI of 4.58 % for April   2018 . The rate is much below the midterm range of 4 % set by Reserve Bank of India .
To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION TURNS NEGATIVE IN MARCH 2019 : STATISTICAL MINISTRY

DATED 13.05.2019 : According to press release of Department of Statistics , Government of India released on 10.05.2019 , Index of Industrial Production ( IIP ) has shown , for the first time in the financial year 2018-19 , a negative growth of 0.1 % for the month of March 2019 compared with the corresponding month of previous year ( March 2018 ) . The cumulative growth for the financial year from April 18 to March 19 stands at 3.6 % compared with the same period previous year ( April 18 to March 18 ) .

The quick estimate of IIP with base 2011-12 stood at 140.2 for the month of March 2019 against 140.3 at March 18 .

To read the Press Release of the ministry , CLICK HERE

RETAIL INFLATION FURTHER INCREASES TO 2.86 % IN MARCH 2019 : STATISTICAL MINISTRY

DATED 12.04.2019 :    According to press release of Department of Statistics , Government of India released on 12.03.2019 , Inflation rate as measured by Consumer Price Index ( CPI ) increased to 2.86 % ( provisional ) in March 2019 compared to the figure of 2.57 % ( final ) of previous month February 2019 . CPI for March     2019 is lower than the last year CPI of 4.28 % for March     2018 . The rate is much below the midterm range of 4 % set by Reserve Bank of India .
To read the Press Release of the ministry ,   CLICK HERE

INDUSTRIAL PRODUCTION SHOWS DISMAL GROWTH OF 0.1 % DURING FEBRUARY 2019 : STATISTICAL MINISTRY

DATED 12.04.2019 : According to press release of Department of Statistics , Government of India released on 12.04.2019 , Index of Industrial Production ( IIP ) has shown a growth of 0.1 % for the month of February 2019 compared with the corresponding month of previous year ( February 2018 ) . The cumulative growth for the current financial year from April 18 to February 19 stands at 4.0 % compared with the same period previous year ( April 18 to February 18 ) .

The quick estimate of IIP with base 2011-12 stood at 127.5 for the month of February 2019 against 127.4 at February 2018 .

To read the Press Release of the ministry , CLICK HERE

FITCH CUTS INDIAN GROWTH FORECAST :

Dated 23.03.2019 : International Credit rating agency M/S Fitch Ratings cut their growth forecast for India for the year April 2019 to March 20 to 6.8 % from earlier estimated 7 % . Still a growth of 7.1 % possible possible in Fy 20-21 , as per Fitch view .

Fitch opines that GDP growth in India softened to 6.6 % in Oct 18- Dec 18 quarter due to activities cooling in manufacturing sector and to lesser extent in agriculture sector . It also links lower growth to problems cropped up in NBFC ( Non banking finance companies ) and negative food inflation .

Rating agency also forecasts " Fiscal and monetary policies are also becoming more growth-friendly. The RBI has adopted a more dovish monetary policy stance and cut interest rates by 25bp at its February 2019 meeting, a move supported by steadily decelerating headline inflation. We have changed our rate outlook and we now expect another 25bp cut in 2019, amid protracted below target inflation and easier global monetary conditions than previously envisaged. "

RETAIL INFLATION SLIGHTLY INCREASES TO 2.57 % IN FEBRUARY 2019 : STATISTICAL MINISTRY

DATED 13.03.2019 :    According to press release of Department of Statistics , Government of India released on 12.03.2019 , Inflation rate as measured by Consumer Price Index ( CPI ) increased to 2.57 % ( provisional ) in February 2019 compared to the figure of 1.97 % ( final ) of previous month January 2019 . CPI for February     2019 is lower than the last year CPI of 4.44 % for February    2018 . The rate is much below the midterm range of 4 % set by Reserve Bank of India .
To read the Press Release of the ministry ,   CLICK HERE

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INDUSTRIAL PRODUCTION SHOWS A MARGINAL GROWTH OF 1.7 % DURING JANUARY 2019 : STATISTICAL MINISTRY

DATED 13.03.2019 : According to press release of Department of Statistics , Government of India released on 12.03.2019 , Index of Industrial Production ( IIP ) has shown a growth of 1.7 % for the month of January 2019 compared with the corresponding month of previous year ( January 2018 ) . The cumulative growth for the current financial year from April 18 to January 19 stands at 4.4 % compared with the same period previous year ( April 18 to January 18 ) .

The quick estimate of IIP with base 2011-12 stood at 134.5 for the month of January 2019 against 132.3 at January 2018 .

To read the Press Release of the ministry , CLICK HERE

GDP GROWTH SLIPS TO 6.6 % IN Q3 OF THE YEAR 2018-19 : STATISTICAL MINISTRY

DATED 28.02.2019 : According to press release of Department of Statistics , Government of India released today , Gross Domestic Product ( GDP ) in the quarter ending Dec 2018 ( Q3 ) has slipped to 6.6 % from 7 % of the earlier quarter Q2 ( ending Sept 2018 ) . It is the lowest quarterly growth for the current year .

To read the complete report , CLICK HERE

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