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TAX PLANNING FOR FY 2022-23 ( AY 2023-24 )
Comprehensive Article on Income tax changes in Rules, Rates , Slabs , Rebates and Estimation
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TAX PLANNING FOR FY 2022-23 ( AY 2023-24 )
Comprehensive Article on Income tax changes in Rules, Rates , Slabs , Rebates and Estimation
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GDP GROWS 6.1% IN QURTER 4 OF FY 22-23 : STATISTICAL MINISTRY
GDP GROWTH FOR FY 22-23 IS AT 7.2 %
DATED 01.06.2023 : According to yesterday's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the fourth quarter of FY 2022-23 ( January 2023 to March 2023 ) has grown at 6.1 percent as compared to growth of 4.1 percent in Q4 of fy 2021-22
The press report says " GDP at Constant (2011-12) Prices in Q4 2022-23 is estimated at ₹43.62 lakh crore, as against ₹41.12 lakh crore in Q4 2021-22, showing a growth of 6.1 percent. GDP at Current Prices in Q4 2022-23 is estimated at ₹71.82 lakh crore, as against ₹65.05 lakh crore in Q4 2021-22, showing a growth of 10.4 percent. "
Further the annual growth of GDP for the FY 2022-23 is estimated at 7.2 % pa as against 9.1 % in the previous year . The press release says
" Real GDP or GDP at Constant (2011-12) Prices in the year 2022-23 is estimated to attain a level of ₹160.06 lakh crore, as against the First Revised Estimates of GDP for the year 2021-22 of ₹149.26 lakh crore. The growth in real GDP during 2022-23 is estimated at 7.2 per cent as compared to 9.1 per cent in 2021-22. "
All sectors of the sectors have shown growth during the financial year 2022-23 including manufacturing at 7 % , construction 16.7 % and Mining & Quarrying at 35.9 % .
Economy had grown at 13.1 % in q1 , at 6.2 % in q2 and 4.5 % in Q3 of the financial year 2022-23 . Thus Indian GDP grew by 7.2 % in FY 2021-22 .
To read the Press notification of the ministry and complete statistics , CLICK HERE
GDP GROWTH FOR FY 22-23 IS AT 7.2 %
DATED 01.06.2023 : According to yesterday's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the fourth quarter of FY 2022-23 ( January 2023 to March 2023 ) has grown at 6.1 percent as compared to growth of 4.1 percent in Q4 of fy 2021-22
The press report says " GDP at Constant (2011-12) Prices in Q4 2022-23 is estimated at ₹43.62 lakh crore, as against ₹41.12 lakh crore in Q4 2021-22, showing a growth of 6.1 percent. GDP at Current Prices in Q4 2022-23 is estimated at ₹71.82 lakh crore, as against ₹65.05 lakh crore in Q4 2021-22, showing a growth of 10.4 percent. "
Further the annual growth of GDP for the FY 2022-23 is estimated at 7.2 % pa as against 9.1 % in the previous year . The press release says
" Real GDP or GDP at Constant (2011-12) Prices in the year 2022-23 is estimated to attain a level of ₹160.06 lakh crore, as against the First Revised Estimates of GDP for the year 2021-22 of ₹149.26 lakh crore. The growth in real GDP during 2022-23 is estimated at 7.2 per cent as compared to 9.1 per cent in 2021-22. "
All sectors of the sectors have shown growth during the financial year 2022-23 including manufacturing at 7 % , construction 16.7 % and Mining & Quarrying at 35.9 % .
Economy had grown at 13.1 % in q1 , at 6.2 % in q2 and 4.5 % in Q3 of the financial year 2022-23 . Thus Indian GDP grew by 7.2 % in FY 2021-22 .
To read the Press notification of the ministry and complete statistics , CLICK HERE
RETAIL INFLATION CONTINUES IN COMFORT ZONE IN APRIL 2023 : STATISTICAL MINISTRY
DATED 12.05.2023 : According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) improved to 4.70 % in April 2023 against 5.66 % in March 2023 .
Food inflation was at 3.84 % in April 2023 compared with 4.79 % in March 2023 . An inflation rate of 13.67 % in cereals , Vegetables at negative 6.50 % % and spices at 17.43 % is also seen .
The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .RBI has hiked its Repo rate several times in the FY 2022-23 year to tame the inflation .
To read the Press Release of the ministry , CLICK HERE
DATED 12.05.2023 : According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) improved to 4.70 % in April 2023 against 5.66 % in March 2023 .
Food inflation was at 3.84 % in April 2023 compared with 4.79 % in March 2023 . An inflation rate of 13.67 % in cereals , Vegetables at negative 6.50 % % and spices at 17.43 % is also seen .
The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .RBI has hiked its Repo rate several times in the FY 2022-23 year to tame the inflation .
To read the Press Release of the ministry , CLICK HERE
INDUSTRIAL PRODUCTION GROWS MARGINALLY IN MARCH 2023 : STATISTICAL MINISTRY
ANNUAL GROWTH AT 5.1 %
DATED 12.05.2023 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) grew by 1.1 % in the month of March 2023 compared with the corresponding month of previous year ( March 2022 ) . The growth was 6.8 % in Mining , 0.5 % in Manufacturing and negative 1.6 % in Electricity production .
The cumulative growth in the financial year from April 2022 to March 2023 stands at 5.1 % compared with the same period previous year ( April 2021 to March 2022 ) . The growth was contributed by 5.8 % in Mining , 4.5 % in Manufacturing and 8.9 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 150.5 for the month of March 2023 against 148.8 in March 2022 .
To read the Press Release of the ministry , CLICK HERE
ANNUAL GROWTH AT 5.1 %
DATED 12.05.2023 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) grew by 1.1 % in the month of March 2023 compared with the corresponding month of previous year ( March 2022 ) . The growth was 6.8 % in Mining , 0.5 % in Manufacturing and negative 1.6 % in Electricity production .
The cumulative growth in the financial year from April 2022 to March 2023 stands at 5.1 % compared with the same period previous year ( April 2021 to March 2022 ) . The growth was contributed by 5.8 % in Mining , 4.5 % in Manufacturing and 8.9 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 150.5 for the month of March 2023 against 148.8 in March 2022 .
To read the Press Release of the ministry , CLICK HERE
RETAIL INFLATION COMES BACK TO THE DESIRED BAND IN MARCH 2023 : STATISTICAL MINISTRY
DATED 12.04.2023 : According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) improved to 5.66 % in March 2023 against 6.44 % in February 2023 .
Food inflation was at 4.79 % in March 2023 compared with 5.95 % in February 2023 . An inflation rate of 15.27 % in cereals , Vegetables at negative 8.51 % % and spices at 18.21 % is also seen .
The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .RBI has hiked its Repo rate several times in the FY 2022-23 year to tame the inflation .
To read the Press Release of the ministry , CLICK HERE
DATED 12.04.2023 : According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) improved to 5.66 % in March 2023 against 6.44 % in February 2023 .
Food inflation was at 4.79 % in March 2023 compared with 5.95 % in February 2023 . An inflation rate of 15.27 % in cereals , Vegetables at negative 8.51 % % and spices at 18.21 % is also seen .
The inflation rate is within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .RBI has hiked its Repo rate several times in the FY 2022-23 year to tame the inflation .
To read the Press Release of the ministry , CLICK HERE
INDUSTRIAL PRODUCTION GROWS IN FEBRUARY 2023 TOO : STATISTICAL MINISTRY
DATED 12.04.2023 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) grew by 5.5 % in the month of February 2023 compared with the corresponding month of previous year ( February 2022 ) . The growth was 4.6 % in Mining , 5.3 % in Manufacturing and 8.2 % in Electricity production .
The cumulative growth in the financial year from April 2022 to February 2023 stands at 5.5 % compared with the same period previous year ( April 2021 to February 2022 ) . The growth was contributed by 5.7 % in Mining , 4.9 % in Manufacturing and 10.0 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 138.7 for the month of February 2023 against 131.4 in February 2022 .
To read the Press Release of the ministry , CLICK HERE
DATED 12.04.2023 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) grew by 5.5 % in the month of February 2023 compared with the corresponding month of previous year ( February 2022 ) . The growth was 4.6 % in Mining , 5.3 % in Manufacturing and 8.2 % in Electricity production .
The cumulative growth in the financial year from April 2022 to February 2023 stands at 5.5 % compared with the same period previous year ( April 2021 to February 2022 ) . The growth was contributed by 5.7 % in Mining , 4.9 % in Manufacturing and 10.0 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 138.7 for the month of February 2023 against 131.4 in February 2022 .
To read the Press Release of the ministry , CLICK HERE
RETAIL INFLATION CONTINUES ABOVE THE TOLERANCE RANGE IN FEBRUARY 2023 : STATISTICAL MINISTRY
DATED 13.03.2023 : According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) improved to 6.44 % in February 2023 against 6.52 % in January 2023 .
Food inflation was at 5.95 % in February 2023 compared with 6.00 % in January 2023 . An inflation rate of 16.73 % in cereals , Vegetables at negative 11.61 % % and spices at 20.20 % is also seen .
The inflation rate is in the band of tolerance of 4 % to 6 % set by Reserve Bank of India .RBI has hiked its Repo rate several times in the current year to tame the inflation . But retail inflation is continuing above the band month after month .
To read the Press Release of the ministry , CLICK HERE
DATED 13.03.2023 : According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) improved to 6.44 % in February 2023 against 6.52 % in January 2023 .
Food inflation was at 5.95 % in February 2023 compared with 6.00 % in January 2023 . An inflation rate of 16.73 % in cereals , Vegetables at negative 11.61 % % and spices at 20.20 % is also seen .
The inflation rate is in the band of tolerance of 4 % to 6 % set by Reserve Bank of India .RBI has hiked its Repo rate several times in the current year to tame the inflation . But retail inflation is continuing above the band month after month .
To read the Press Release of the ministry , CLICK HERE
INDUSTRIAL PRODUCTION GROWS IN JANUARY 2023 : STATISTICAL MINISTRY
DATED 11.03.2023 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) grew by 5.2 % in the month of January 2023 compared with the corresponding month of previous year ( January 2022 ) . The growth was 8.8 % in Mining , 3.7 % in Manufacturing and 12.7 % in Electricity production .
The cumulative growth in the financial year from April 2022 to January 2023 stands at 5.4 % compared with the same period previous year ( April 2021 to January 2022 ) . The growth was contributed by 5.8 % in Mining , 4.8 % in Manufacturing and 10.1 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 146.5 for the month of January 2023 against 139.3 in January 2022 .
To read the Press Release of the ministry , CLICK HERE
DATED 11.03.2023 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) grew by 5.2 % in the month of January 2023 compared with the corresponding month of previous year ( January 2022 ) . The growth was 8.8 % in Mining , 3.7 % in Manufacturing and 12.7 % in Electricity production .
The cumulative growth in the financial year from April 2022 to January 2023 stands at 5.4 % compared with the same period previous year ( April 2021 to January 2022 ) . The growth was contributed by 5.8 % in Mining , 4.8 % in Manufacturing and 10.1 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 146.5 for the month of January 2023 against 139.3 in January 2022 .
To read the Press Release of the ministry , CLICK HERE
GDP GROWTH SLOWS TO 4.4 % IN QUARTER 3 OF FY 22-23 : STATISTICAL MINISTRY
DATED 28.02.2023 : According to today's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the third quarter of FY 2022-23 ( October 2022 to December 2022 ) has grown at 4.4 % percent as compared to growth of 11.2 percent in Q3 of FY 2021-22
The press report says " GDP at Constant (2011-12) Prices in Q3 2022-23 is estimated at ₹40.19 lakh crore, as against ₹38.51 lakh crore in Q3 2021-22, showing a growth of 4.4 percent. GDP at Current Prices in Q3 2022-23 is estimated at ₹69.38 lakh crore, as against ₹62.39 lakh crore in Q3 2021-22, showing a growth of 11.2 percent."
The sectors that have shown growth during the third quarter of the financial year 2022-23 are agriculture ( 3.7 % ) , mining 3.7 % m electricity ( 8.2 % ) , construction ( 8.4 % ) , trade & service ( 9.7 % ) , Financial service ( 5.8 % ) and public administration ( 2.0 % ) . The sectors showing negative growth are manufacturing ( 1.1 % )
To read the Press notification of the ministry and complete statistics ,CLICK HERE
DATED 28.02.2023 : According to today's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the third quarter of FY 2022-23 ( October 2022 to December 2022 ) has grown at 4.4 % percent as compared to growth of 11.2 percent in Q3 of FY 2021-22
The press report says " GDP at Constant (2011-12) Prices in Q3 2022-23 is estimated at ₹40.19 lakh crore, as against ₹38.51 lakh crore in Q3 2021-22, showing a growth of 4.4 percent. GDP at Current Prices in Q3 2022-23 is estimated at ₹69.38 lakh crore, as against ₹62.39 lakh crore in Q3 2021-22, showing a growth of 11.2 percent."
The sectors that have shown growth during the third quarter of the financial year 2022-23 are agriculture ( 3.7 % ) , mining 3.7 % m electricity ( 8.2 % ) , construction ( 8.4 % ) , trade & service ( 9.7 % ) , Financial service ( 5.8 % ) and public administration ( 2.0 % ) . The sectors showing negative growth are manufacturing ( 1.1 % )
To read the Press notification of the ministry and complete statistics ,CLICK HERE
RETAIL INFLATION IS OUT OF RANGE AGAIN IN JANUARY 2023 : STATISTICAL MINISTRY
DATED 13.02.2023 : 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 6.52 % in January 2023 against 5.77 % in December 2022 .
Food inflation also went up to 5.94 % in January 2023 from 4.19 % in December 2022 . An inflation rate of 16.12 % in cereals , Vegetables at negative 11.70 % % and spices at 21.09 % is also seen .
The inflation rate is in the band of tolerance of 4 % to 6 % set by Reserve Bank of India .RBI has hiked its Repo rate several times in the current year to tame the inflation .
To read the Press Release of the ministry , CLICK HERE
DATED 13.02.2023 : 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 6.52 % in January 2023 against 5.77 % in December 2022 .
Food inflation also went up to 5.94 % in January 2023 from 4.19 % in December 2022 . An inflation rate of 16.12 % in cereals , Vegetables at negative 11.70 % % and spices at 21.09 % is also seen .
The inflation rate is in the band of tolerance of 4 % to 6 % set by Reserve Bank of India .RBI has hiked its Repo rate several times in the current year to tame the inflation .
To read the Press Release of the ministry , CLICK HERE
NDUSTRIAL PRODUCTION GROWS IN DECEMBER 2022 : STATISTICAL MINISTRY
DATED 13.02.2023 : According to press release of Department of Statistics , Government of India released on 10th of this month , Index of Industrial Production ( IIP ) grew by 7.2 % in the month of December 2022 compared with the corresponding month of previous year ( December 2021 ) . The growth was 9.8 % in Mining , 2.6 % in Manufacturing and 10 .4 % in Electricity production .
The cumulative growth in the financial year from April 2022 to December 2022 stands at 5.4 % compared with the same period previous year ( April 2021 to December 2021 ) . The growth was contributed by 5.4 % in Mining , 4.8 % in Manufacturing and 9.9 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 173.2 for the month of December 2022 against 161.6 in December 2021 .
To read the Press Release of the ministry , CLICK HERE
DATED 13.02.2023 : According to press release of Department of Statistics , Government of India released on 10th of this month , Index of Industrial Production ( IIP ) grew by 7.2 % in the month of December 2022 compared with the corresponding month of previous year ( December 2021 ) . The growth was 9.8 % in Mining , 2.6 % in Manufacturing and 10 .4 % in Electricity production .
The cumulative growth in the financial year from April 2022 to December 2022 stands at 5.4 % compared with the same period previous year ( April 2021 to December 2021 ) . The growth was contributed by 5.4 % in Mining , 4.8 % in Manufacturing and 9.9 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 173.2 for the month of December 2022 against 161.6 in December 2021 .
To read the Press Release of the ministry , CLICK HERE
ECONOMIC SURVEY 2022-23 :
GDP TO GROW 6.5 % IN FY 23-24
Dated 31.01.2023 : Finance Minister Smt . Nirmala Sitharaman tabled the Economic Survey 2022-23 in Parliament today, which projects a baseline GDP growth of 6.5 per cent in real terms in FY24. The projection is broadly comparable to the estimates provided by multilateral agencies such as the World Bank, the IMF, and the ADB and by RBI, domestically. The Survey says, in real terms, the economy is expected to grow at 7 per cent for the year ending March 2023. This follows an 8.7 per cent growth in the previous financial year.
India to witness GDP growth of 6.0 per cent to 6.8 per cent in 2023-24, depending on the trajectory of economic and political developments globally. According to Survey, India’s economic growth in FY23 has been principally led by private consumption and capital formation and they have helped generate employment as seen in the declining urban unemployment rate and in the faster net registration in Employee Provident Fund.
Economic Survey is an annual document presented by the Finance Minister in the Parliament, a day before union budget is presented . It reviews the state of the Indian economy and presents the economic vision and policy recommendations for the upcoming financial year. It provides an analysis of the developments in various sectors of the economy and evaluates their impact on the growth and development .
After the survey is presented by the FM , a press conference is arranged today and will be addressed by the Chief Economic Advisor V . Anantha Nageswaran at 2.00 PM .
To read PIB release , CLICK HERE
GDP TO GROW 6.5 % IN FY 23-24
Dated 31.01.2023 : Finance Minister Smt . Nirmala Sitharaman tabled the Economic Survey 2022-23 in Parliament today, which projects a baseline GDP growth of 6.5 per cent in real terms in FY24. The projection is broadly comparable to the estimates provided by multilateral agencies such as the World Bank, the IMF, and the ADB and by RBI, domestically. The Survey says, in real terms, the economy is expected to grow at 7 per cent for the year ending March 2023. This follows an 8.7 per cent growth in the previous financial year.
India to witness GDP growth of 6.0 per cent to 6.8 per cent in 2023-24, depending on the trajectory of economic and political developments globally. According to Survey, India’s economic growth in FY23 has been principally led by private consumption and capital formation and they have helped generate employment as seen in the declining urban unemployment rate and in the faster net registration in Employee Provident Fund.
Economic Survey is an annual document presented by the Finance Minister in the Parliament, a day before union budget is presented . It reviews the state of the Indian economy and presents the economic vision and policy recommendations for the upcoming financial year. It provides an analysis of the developments in various sectors of the economy and evaluates their impact on the growth and development .
After the survey is presented by the FM , a press conference is arranged today and will be addressed by the Chief Economic Advisor V . Anantha Nageswaran at 2.00 PM .
To read PIB release , CLICK HERE
RETAIL INFLATION SHADE BETTER IN DECEMBER 2022 : STATISTICAL MINISTRY
DATED 13.01.2023 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) further improved to 5.77 % in December 2022 against 5.88 % in November 2022 .
Food inflation cooled to 4.19 % in December 2022 from 4.67 % in October 2022 . An inflation rate of 13.79 % in cereals , Vegetables at negative 15.08 % % and spices at 20.35 % is also seen .
The inflation rate is in the band of tolerance of 4 % to 6 % set by Reserve Bank of India .RBI has hiked its Repo rate several times in the current year to tame the inflation .
To read the Press Release of the ministry , CLICK HERE
DATED 13.01.2023 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) further improved to 5.77 % in December 2022 against 5.88 % in November 2022 .
Food inflation cooled to 4.19 % in December 2022 from 4.67 % in October 2022 . An inflation rate of 13.79 % in cereals , Vegetables at negative 15.08 % % and spices at 20.35 % is also seen .
The inflation rate is in the band of tolerance of 4 % to 6 % set by Reserve Bank of India .RBI has hiked its Repo rate several times in the current year to tame the inflation .
To read the Press Release of the ministry , CLICK HERE
INDUSTRIAL PRODUCTION TURNS POSITIVE IN NOVEMBER 2022 : STATISTICAL MINISTRY
DATED 13.01.2023 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) turned positive in the month of November 2022 compared with the corresponding month of previous year ( November 2021 ) and grew by 7.1 % . The growth was 9.7 % in Mining , 6.1 % in Manufacturing and 12 .7 % in Electricity production .
The cumulative growth in the financial year from April 2022 to November 2022 stands at 5.5 % compared with the same period previous year ( April 2021 to November 2021 ) . The growth was contributed by 4.7 % in Mining , 5.0 % in Manufacturing and 9.8 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 137.1 for the month of November 2022 against 128.0 in November 2021 .
To read the Press Release of the ministry , CLICK HERE
DATED 13.01.2023 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) turned positive in the month of November 2022 compared with the corresponding month of previous year ( November 2021 ) and grew by 7.1 % . The growth was 9.7 % in Mining , 6.1 % in Manufacturing and 12 .7 % in Electricity production .
The cumulative growth in the financial year from April 2022 to November 2022 stands at 5.5 % compared with the same period previous year ( April 2021 to November 2021 ) . The growth was contributed by 4.7 % in Mining , 5.0 % in Manufacturing and 9.8 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 137.1 for the month of November 2022 against 128.0 in November 2021 .
To read the Press Release of the ministry ,
INDUSTRIAL PRODUCTION CONTRACTS IN OCTOBER 2022 : STATISTICAL MINISTRY
DATED 13.12.2022 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) turned negative and shrunk 4.0 % in the month of October 2022 compared with the corresponding month of previous year ( October 2021 ) . The growth was 2.5 % in Mining , negative growth of 5.6 % in Manufacturing and a growth of 1.2 % in Electricity production .
The cumulative growth in the financial year from April 2022 to October 2022 stands at 5.3 % compared with the same period previous year ( April 2021 to October 2021 ) . The growth was contributed by 4.0 % in Mining , 5.0 % in Manufacturing and 9.4 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 129.6 for the month of October 2022 against 135.0 in October 2021 .
DATED 13.12.2022 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) turned negative and shrunk 4.0 % in the month of October 2022 compared with the corresponding month of previous year ( October 2021 ) . The growth was 2.5 % in Mining , negative growth of 5.6 % in Manufacturing and a growth of 1.2 % in Electricity production .
The cumulative growth in the financial year from April 2022 to October 2022 stands at 5.3 % compared with the same period previous year ( April 2021 to October 2021 ) . The growth was contributed by 4.0 % in Mining , 5.0 % in Manufacturing and 9.4 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 129.6 for the month of October 2022 against 135.0 in October 2021 .
RETAIL INFLATION COMES BACK TO RBI BAND IN NOVEMBER 2022 : STATISTICAL MINISTRY
DATED 13.12.2022 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) cooled to 5.88 % in November 2022 against 6.77 % in October 2022 .
Food inflation cooled to 4.67 % in November 2022 from 7.01 % in October 2022 . An inflation rate of 12.96 % in cereals , Vegetables at negative 8.08 % % and spices at 19.52 % is also seen .
The inflation rate has , for the first time in 2022 , come within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .RBI has hiked its Repo rate several times in the current year to tame the inflation .
To read the Press Release of the ministry , CLICK HERE
DATED 13.12.2022 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) cooled to 5.88 % in November 2022 against 6.77 % in October 2022 .
Food inflation cooled to 4.67 % in November 2022 from 7.01 % in October 2022 . An inflation rate of 12.96 % in cereals , Vegetables at negative 8.08 % % and spices at 19.52 % is also seen .
The inflation rate has , for the first time in 2022 , come within the band of tolerance of 4 % to 6 % set by Reserve Bank of India .RBI has hiked its Repo rate several times in the current year to tame the inflation .
To read the Press Release of the ministry , CLICK HERE
GDP GROWTH SLOWS TO 6.3 % IN QUARTER 2 OF FY 22-23 : STATISTICAL MINISTRY
DATED 30.11.2022 : According to today's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the second quarter of FY 2022-23 ( July 2022 to September 2022 ) has grown at 6.3 % percent as compared to growth of 8.4 percent in Q2 of FY 2021-22
The press report says " Real GDP or GDP at Constant (2011-12) Prices in Q2 2022-23 is estimated at ₹38.17 lakh crore, as against ₹35.89 lakh crore in Q2 2021-22, showing a growth of 6.3 percent as compared to 8.4 percent in Q2 2021-22. "
The sectors that have shown growth during the second quarter of the financial year 2022-23 are agriculture ( 4.6 % ) , electricity ( 5.6 % ) , construction ( 6.6 % ) , trade & service ( 14.7 % ) , Financial service ( 7.2 % ) and public administration ( 6.5 % ) . The sectors showing negative growth are mining ( 2.8 % ) and manufacturing ( 4.3 % )
To read the Press notification of the ministry and complete statistics ,CLICK HERE
DATED 30.11.2022 : According to today's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the second quarter of FY 2022-23 ( July 2022 to September 2022 ) has grown at 6.3 % percent as compared to growth of 8.4 percent in Q2 of FY 2021-22
The press report says " Real GDP or GDP at Constant (2011-12) Prices in Q2 2022-23 is estimated at ₹38.17 lakh crore, as against ₹35.89 lakh crore in Q2 2021-22, showing a growth of 6.3 percent as compared to 8.4 percent in Q2 2021-22. "
The sectors that have shown growth during the second quarter of the financial year 2022-23 are agriculture ( 4.6 % ) , electricity ( 5.6 % ) , construction ( 6.6 % ) , trade & service ( 14.7 % ) , Financial service ( 7.2 % ) and public administration ( 6.5 % ) . The sectors showing negative growth are mining ( 2.8 % ) and manufacturing ( 4.3 % )
To read the Press notification of the ministry and complete statistics ,CLICK HERE
RETAIL INFLATION CONTINUES ABOVE RBI BAND IN OCTOBER 2022 ALSO : STATISTICAL MINISTRY
DATED 20.11.2022 : According to press release of Department of Statistics , Government of India released on 14.11.2022 , retail Inflation rate as measured by Consumer Price Index ( CPI ) cooled to 6.77 % in October 2022 against 7.41 % in September 2022 .
Food inflation was at 7.30 % in October 2022 from 8.53 % in September 2022 . An inflation rate of 12.08 % in cereals , Vegetables 7.77 % % and spices at 18.02 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India in spite of several repo rate hikes from RBI during the year
To read the Press Release of the ministry , CLICK HERE
DATED 20.11.2022 : According to press release of Department of Statistics , Government of India released on 14.11.2022 , retail Inflation rate as measured by Consumer Price Index ( CPI ) cooled to 6.77 % in October 2022 against 7.41 % in September 2022 .
Food inflation was at 7.30 % in October 2022 from 8.53 % in September 2022 . An inflation rate of 12.08 % in cereals , Vegetables 7.77 % % and spices at 18.02 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India in spite of several repo rate hikes from RBI during the year
To read the Press Release of the ministry , CLICK HERE
INDUSTRIAL PRODUCTION POSITIVE IN SEPTEMBER 2022 : STATISTICAL MINISTRY
DATED 20.11.2022 : According to press release of Department of Statistics , Government of India released on 11.11.2022 , Index of Industrial Production ( IIP ) turned to positive growth of 3.1 % in the month of September 2022 compared with the corresponding month of previous year ( September 2021 ) . The growth was 4.6 % in Mining , 1.8 % in Manufacturing and a growth of 11.6 % in Electricity production .
The cumulative growth in the financial year from April 2022 to September 2022 stands at 7.0 % compared with the same period previous year ( April 2021 to September 2021 ) . The growth was contributed by 4.2 % in Mining , 6.8 % in Manufacturing and 10.8 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 133.5 for the month of September 2022 against 129.5 in September 2021 .
To read the Press Release of the ministry , CLICK HERE
DATED 20.11.2022 : According to press release of Department of Statistics , Government of India released on 11.11.2022 , Index of Industrial Production ( IIP ) turned to positive growth of 3.1 % in the month of September 2022 compared with the corresponding month of previous year ( September 2021 ) . The growth was 4.6 % in Mining , 1.8 % in Manufacturing and a growth of 11.6 % in Electricity production .
The cumulative growth in the financial year from April 2022 to September 2022 stands at 7.0 % compared with the same period previous year ( April 2021 to September 2021 ) . The growth was contributed by 4.2 % in Mining , 6.8 % in Manufacturing and 10.8 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 133.5 for the month of September 2022 against 129.5 in September 2021 .
To read the Press Release of the ministry ,
INDIAN RUPEE HITS ALL TIME LOW AGAINST USD :
RUPEE DIPS BELOW 83
UPDATE DATED 20.10.2022 : Indian Rupee touched a new low of Rs 83.02 against USD in yesterday's trade . Now it's trading at 83.05
Dated 23.092022 : Indian Rupee once again breached the earlier low and touched an all time historical low of INR 81.24 against 1 USD in yesterday's trading and is trading at INR 80.85 per USD now. US Dollar has been gaining in recent months due to various international issues cropping up like Ukraine war , China Pandemic and Foreign fund outflows . Russian repeated aggression stand on Ukraine has triggered inflation worries . Under the adverse global economic conditions , INR touched its new low .
RBI is having hard time in managing both inflation and foreign exchange rates . To control inflation , RBI enhanced total of 1.40 % interest rate in last three months on various financial instruments including Repo rate and bank rate in the last week . To prevent free fall of Rupee, RBI is intervening in the forex market by selling its foreign reserves . The Forex reserve has come down from USD 570 bn to USD 490 Bn in the year 2022 . Yet INR is sliding again and again to new lows .
In spite of the efforts of RBI , neither inflation is coming back in to the desired band of 4% to 6 % , nor RBI is able to arrest the fall of INR . We have to wait and see what will be the next move of RBI .
The Indian rupee which was at 1 USD @ 3.30 INR in 1947 is losing its value at the green currency over the years . As a developing economy India has to pay higher interest than the developed countries to augment its savings and investments and the interest rate differentials play an important role in exchange rate movement .
For latest Exchange Rates and News , visit our "NEWS " Page
RUPEE DIPS BELOW 83
UPDATE DATED 20.10.2022 : Indian Rupee touched a new low of Rs 83.02 against USD in yesterday's trade . Now it's trading at 83.05
Dated 23.092022 : Indian Rupee once again breached the earlier low and touched an all time historical low of INR 81.24 against 1 USD in yesterday's trading and is trading at INR 80.85 per USD now. US Dollar has been gaining in recent months due to various international issues cropping up like Ukraine war , China Pandemic and Foreign fund outflows . Russian repeated aggression stand on Ukraine has triggered inflation worries . Under the adverse global economic conditions , INR touched its new low .
RBI is having hard time in managing both inflation and foreign exchange rates . To control inflation , RBI enhanced total of 1.40 % interest rate in last three months on various financial instruments including Repo rate and bank rate in the last week . To prevent free fall of Rupee, RBI is intervening in the forex market by selling its foreign reserves . The Forex reserve has come down from USD 570 bn to USD 490 Bn in the year 2022 . Yet INR is sliding again and again to new lows .
In spite of the efforts of RBI , neither inflation is coming back in to the desired band of 4% to 6 % , nor RBI is able to arrest the fall of INR . We have to wait and see what will be the next move of RBI .
The Indian rupee which was at 1 USD @ 3.30 INR in 1947 is losing its value at the green currency over the years . As a developing economy India has to pay higher interest than the developed countries to augment its savings and investments and the interest rate differentials play an important role in exchange rate movement .
For latest Exchange Rates and News , visit our "NEWS " Page
RETAIL INFLATION FLARES UP IN SEPTEMBER 2022 : STATISTICAL MINISTRY
DATED 12.10.2022 : According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) cooled to 7.41 % in September 2022 against 7.00 % in August 2022 .
Food inflation was at 8.53 % in September 2022 . An inflation rate of 11.53 % in cereals , Vegetables 18.05 % % and spices at 16.88 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India in spite of several repo rate hikes from RBI during the year
To read the Press Release of the ministry , CLICK HERE
DATED 12.10.2022 : According to press release of Department of Statistics , Government of India released today , retail Inflation rate as measured by Consumer Price Index ( CPI ) cooled to 7.41 % in September 2022 against 7.00 % in August 2022 .
Food inflation was at 8.53 % in September 2022 . An inflation rate of 11.53 % in cereals , Vegetables 18.05 % % and spices at 16.88 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India in spite of several repo rate hikes from RBI during the year
To read the Press Release of the ministry , CLICK HERE
INDUSTRIAL PRODUCTION NEGATIVE IN AUGUST 2022 : STATISTICAL MINISTRY
DATED 12.10.2022 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) showed a negative growth of 0.8 % in the month of August 2022 compared with the corresponding month of previous year ( August 2021 ) . The growth was Negative 3.9 % in Mining , negative 0.7% in Manufacturing and a growth of 1.4 % in Electricity production .
The cumulative growth in the financial year from April 2022 to August 2022 stands at 7.7 % compared with the same period previous year ( April 2021 to August 2021 ) . The growth was contributed by 4.2 % in Mining , 7.9 % in Manufacturing and 10.6 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 131.3 for the month of August 2022 against 132.4 in August 2021 .
To read the Press Release of the ministry , CLICK HERE
DATED 12.10.2022 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) showed a negative growth of 0.8 % in the month of August 2022 compared with the corresponding month of previous year ( August 2021 ) . The growth was Negative 3.9 % in Mining , negative 0.7% in Manufacturing and a growth of 1.4 % in Electricity production .
The cumulative growth in the financial year from April 2022 to August 2022 stands at 7.7 % compared with the same period previous year ( April 2021 to August 2021 ) . The growth was contributed by 4.2 % in Mining , 7.9 % in Manufacturing and 10.6 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 131.3 for the month of August 2022 against 132.4 in August 2021 .
To read the Press Release of the ministry ,
RETAIL INFLATION MOVES NORTH IN AUGUST 2022 : STATISTICAL MINISTRY
DATED 13.09.2022 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) flared up to 7.00 % in August 2022 against 6.76 % in July 2022 .
Food inflation went up to 7.60 % in August 2022 from 6.71 % in July 2022 . An inflation rate of 9.57 % in cereals , Vegetables 13.23 % % and spices at 14.90 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India . RBI enhanced the repo Rate by 0.40 % in May and 0.50 % in June and another 0.5 % in August to reign in inflation and it appears RBI move may again to hike Repo rate in their next MPC meet also as inflation is to be brought in the desired band .
To read the Press Release of the ministry , CLICK HERE
DATED 13.09.2022 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) flared up to 7.00 % in August 2022 against 6.76 % in July 2022 .
Food inflation went up to 7.60 % in August 2022 from 6.71 % in July 2022 . An inflation rate of 9.57 % in cereals , Vegetables 13.23 % % and spices at 14.90 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India . RBI enhanced the repo Rate by 0.40 % in May and 0.50 % in June and another 0.5 % in August to reign in inflation and it appears RBI move may again to hike Repo rate in their next MPC meet also as inflation is to be brought in the desired band .
To read the Press Release of the ministry , CLICK HERE
GDP GROWS 13.5 % IN QUARTER 1 OF FY 22-23 : STATISTICAL MINISTRY
DATED 04.09.2022 : According to recent press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the first quarter of FY 2022-23 ( April 2022 to June 2022 ) has grown at 13.5 percent as compared to growth of 20.1 percent in Q1 of FY 2021-22
The press report says " Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in Q1 2022-23 is estimated to attain a level of ₹ 36.85 lakh crore, as against ₹ 32.46 lakh crore in Q1 2021-22, showing a growth of 13.5 percent as compared to 20.1 percent in Q1 2021-22. "
All ssectors have shown growth during the First quarter of the financial year 2022-23 including manufacturing at 4.8 % , construction 16.8 % and Mining & Quarrying at 6.5 % .
To read the Press notification of the ministry and complete statistics ,CLICK HERE
DATED 04.09.2022 : According to recent press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the first quarter of FY 2022-23 ( April 2022 to June 2022 ) has grown at 13.5 percent as compared to growth of 20.1 percent in Q1 of FY 2021-22
The press report says " Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in Q1 2022-23 is estimated to attain a level of ₹ 36.85 lakh crore, as against ₹ 32.46 lakh crore in Q1 2021-22, showing a growth of 13.5 percent as compared to 20.1 percent in Q1 2021-22. "
All ssectors have shown growth during the First quarter of the financial year 2022-23 including manufacturing at 4.8 % , construction 16.8 % and Mining & Quarrying at 6.5 % .
To read the Press notification of the ministry and complete statistics ,CLICK HERE
INDUSTRIAL PRODUCTION GROWS NOMINALLY IN JULY 2022 : STATISTICAL MINISTRY
DATED 13.09.2022 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) showed a nominal growth of 2.4 % in the month of July 2022 compared with the corresponding month of previous year ( July 2021 ) . The growth was Negative 3.3 % in Mining , 3.2 % in Manufacturing and a growth of 2.3 % in Electricity production .
The cumulative growth in the financial year from April 2022 to July 2022 stands at 10.00 % compared with the same period previous year ( April 2021 to July 2021 ) . The growth was contributed by 6.1% in Mining , 10.2 % in Manufacturing and 13.2 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 134.6 for the month of July 2022 against 131.5 in July 2021 .
DATED 13.09.2022 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) showed a nominal growth of 2.4 % in the month of July 2022 compared with the corresponding month of previous year ( July 2021 ) . The growth was Negative 3.3 % in Mining , 3.2 % in Manufacturing and a growth of 2.3 % in Electricity production .
The cumulative growth in the financial year from April 2022 to July 2022 stands at 10.00 % compared with the same period previous year ( April 2021 to July 2021 ) . The growth was contributed by 6.1% in Mining , 10.2 % in Manufacturing and 13.2 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 134.6 for the month of July 2022 against 131.5 in July 2021 .
RETAIL INFLATION EASES , BUT CONTINUES TO BE ABOVE RBI BAND IN JULY 2022 : STATISTICAL MINISTRY
DATED 13.08.2022 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) reduced to 6.76 % in July 2022 against 7.01 % in June 2022 .
Food inflation in July 2022 is at 6.71 % . An inflation rate of 7.56 % in edible oils , Vegetables 10.90 % % and spices at 12.89 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India . RBI enhanced the repo Rate by 0.40 % in May and 0.50 % in June and another 0.5 % in August to reign in inflation and it appears RBI move is yielding result and inflation is cooling . But it may take more steps and more time to bring inflation within the desired band .
To read the Press Release of the ministry , CLICK HERE
DATED 13.08.2022 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) reduced to 6.76 % in July 2022 against 7.01 % in June 2022 .
Food inflation in July 2022 is at 6.71 % . An inflation rate of 7.56 % in edible oils , Vegetables 10.90 % % and spices at 12.89 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India . RBI enhanced the repo Rate by 0.40 % in May and 0.50 % in June and another 0.5 % in August to reign in inflation and it appears RBI move is yielding result and inflation is cooling . But it may take more steps and more time to bring inflation within the desired band .
To read the Press Release of the ministry , CLICK HERE
INDUSTRIAL PRODUCTION GROWS IN JUNE 2022 ALSO : STATISTICAL MINISTRY
DATED 13.08.2022 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) showed growth of 12.3 % in the month of June 2022 compared with the corresponding month of previous year ( June 2021 ) . The growth was 7.5 % in Mining , 12.5 % in Manufacturing and a growth of 16.4 % in Electricity production .
The cumulative growth in the financial year from April 2022 to June 2022 stands at 12.7 % compared with the same period previous year ( April 2021 to June 2021 ) . The growth was contributed by 9.0 % in Mining , 12.7 % in Manufacturing and 17.1 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 137.9 for the month of June 2022 against 122.8 in June 2021 .
To read the Press Release of the ministry , CLICK HERE
DATED 13.08.2022 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) showed growth of 12.3 % in the month of June 2022 compared with the corresponding month of previous year ( June 2021 ) . The growth was 7.5 % in Mining , 12.5 % in Manufacturing and a growth of 16.4 % in Electricity production .
The cumulative growth in the financial year from April 2022 to June 2022 stands at 12.7 % compared with the same period previous year ( April 2021 to June 2021 ) . The growth was contributed by 9.0 % in Mining , 12.7 % in Manufacturing and 17.1 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 137.9 for the month of June 2022 against 122.8 in June 2021 .
To read the Press Release of the ministry , CLICK HERE
RETAIL INFLATION CONTINUES TO BE ABOVE RBI BAND IN JUNE 2022 : STATISTICAL MINISTRY
DATED 13.07.2022 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) reduced to 7.01 % in June 2022 against 7.06 % in May 2022 .
The index was steadily raising every month in the year 2022 till April 2022. It was 6.95 % in March , 6.07 % in February , 6.01 % in January
Food inflation in June 2022 is at 7.56 % . An inflation rate of 9.36 % in edible oils , Vegetables 17.37 % , Meat at 8.61 % and spices at 11.04 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India . RBI enhanced the repo Rate by 0.40 % in May and 0.50 % in June to reign in inflation and we have to wait to know whether RBI has to enhance again to bring the inflation rate within the desired band .
To read the Press Release of the ministry , CLICK HERE
DATED 13.07.2022 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) reduced to 7.01 % in June 2022 against 7.06 % in May 2022 .
The index was steadily raising every month in the year 2022 till April 2022. It was 6.95 % in March , 6.07 % in February , 6.01 % in January
Food inflation in June 2022 is at 7.56 % . An inflation rate of 9.36 % in edible oils , Vegetables 17.37 % , Meat at 8.61 % and spices at 11.04 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India . RBI enhanced the repo Rate by 0.40 % in May and 0.50 % in June to reign in inflation and we have to wait to know whether RBI has to enhance again to bring the inflation rate within the desired band .
To read the Press Release of the ministry , CLICK HERE
INDUSTRIAL PRODUCTION SHOWS GOOD GROWTH IN MAY 2022 : STATISTICAL MINISTRY
DATED 13.07.2022 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) showed growth of 19.6 % in the month of May 2022 compared with the corresponding month of previous year ( May 2021 ) .
The quick estimate of IIP with base 2011-12 stood at 136.2 for the month of May 2022 against 120.6 in May 2021 .
To read the Press Release of the ministry ,CLICK HERE
DATED 13.07.2022 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) showed growth of 19.6 % in the month of May 2022 compared with the corresponding month of previous year ( May 2021 ) .
The quick estimate of IIP with base 2011-12 stood at 136.2 for the month of May 2022 against 120.6 in May 2021 .
To read the Press Release of the ministry ,
RETAIL INFLATION COOLS A LITTLE IN MAY 2022 : STATISTICAL MINISTRY
DATED 14.06.2022 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) reduced to 7.06 % in May 2022 against 7.79 % in April 2022 .
The index was steadily raising every month in the year 2022 . It was 6.95 % in March , 6.07 % in February , 6.01 % in January
Food inflation in May 2022 is at 7.84 % against 8.10 % in April 2022. An inflation rate of 13.26 % in edible oils , Vegetables 18.26 % , Meat at 8.23 % and spices at 9.93 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India . RBI enhanced the repo Rate by 0.40 % in May and 0.50 % in June to reign in inflation and we have to wait for June statistics to know its impact .
To read the Press Release of the ministry , CLICK HERE
DATED 14.06.2022 : According to press release of Department of Statistics , Government of India released yesterday , retail Inflation rate as measured by Consumer Price Index ( CPI ) reduced to 7.06 % in May 2022 against 7.79 % in April 2022 .
The index was steadily raising every month in the year 2022 . It was 6.95 % in March , 6.07 % in February , 6.01 % in January
Food inflation in May 2022 is at 7.84 % against 8.10 % in April 2022. An inflation rate of 13.26 % in edible oils , Vegetables 18.26 % , Meat at 8.23 % and spices at 9.93 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India . RBI enhanced the repo Rate by 0.40 % in May and 0.50 % in June to reign in inflation and we have to wait for June statistics to know its impact .
To read the Press Release of the ministry , CLICK HERE
INDUSTRIAL PRODUCTION SHOWS GOOD GROWTH IN APRIL 2022 : STATISTICAL MINISTRY
DATED 14.06.2022 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) showed growth of 7.1 % in the month of April 2022 compared with the corresponding month of previous year ( April 2021 ) .
The quick estimate of IIP with base 2011-12 stood at 135.1 for the month of April 2022 against 126.1 in April 2021 .
DATED 14.06.2022 : According to press release of Department of Statistics , Government of India released yesterday , Index of Industrial Production ( IIP ) showed growth of 7.1 % in the month of April 2022 compared with the corresponding month of previous year ( April 2021 ) .
The quick estimate of IIP with base 2011-12 stood at 135.1 for the month of April 2022 against 126.1 in April 2021 .
FITCH REVISES OUTLOOK ON INDIA TO STABLE FROM THE EARLIER " NEGATIVE "
Dated 11.06.2022 : Fitch Ratings has revised the Outlook on India's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable, from Negative, and has affirmed the IDR at 'BBB- .
FITCH says in its report released yesterday from its Hongkong Office " The Outlook revision reflects our view that downside risks to medium-term growth have diminished due to India's rapid economic recovery and easing financial sector weaknesses, despite near-term headwinds from the global commodity price shock. We expect robust growth relative to peers to support credit metrics in line with the current rating "
Fitch finds the solid recovery of India's economy continues from the Covid-19 pandemic shock. GDP recovered by 8.7% in the fiscal year ended March 2022 (FY22), and Fitch's forecast GDP growth to remain robust at 7.8% in FY23 compared with the 3.4% 'BBB' median. Fitch also sees Solid Medium-Term Growth Prospects for the Indian economy . Fitch forecasts a growth of around 7% between FY24 and FY27, underpinned by the government's infrastructure push, reform agenda and easing pressures in the financial sector .
For complete details of the report , CLICK HERE
Dated 11.06.2022 : Fitch Ratings has revised the Outlook on India's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable, from Negative, and has affirmed the IDR at 'BBB- .
FITCH says in its report released yesterday from its Hongkong Office " The Outlook revision reflects our view that downside risks to medium-term growth have diminished due to India's rapid economic recovery and easing financial sector weaknesses, despite near-term headwinds from the global commodity price shock. We expect robust growth relative to peers to support credit metrics in line with the current rating "
Fitch finds the solid recovery of India's economy continues from the Covid-19 pandemic shock. GDP recovered by 8.7% in the fiscal year ended March 2022 (FY22), and Fitch's forecast GDP growth to remain robust at 7.8% in FY23 compared with the 3.4% 'BBB' median. Fitch also sees Solid Medium-Term Growth Prospects for the Indian economy . Fitch forecasts a growth of around 7% between FY24 and FY27, underpinned by the government's infrastructure push, reform agenda and easing pressures in the financial sector .
For complete details of the report , CLICK HERE
GDP GROWS 4.1% IN QURTER 4 OF FY 21-22 : STATISTICAL MINISTRY
GDP GROWTH FOR FY 21-22 IS AT 8.7 %
DATED 31.05.2022 : According to today's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the fourth quarter of FY 2021-22 ( January 2022 to March 2022 ) has grown at 4.1 percent as compared to growth of 2.5 percent in Q4 of fy 2020-21
The press report says " Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2021-22 is estimated to attain a level of ₹ 147.36 lakh crore, as against the First Revised Estimate of ₹ 135.58 lakh crore for the year 2020-21, released on 31.01.2022. The growth in
GDP during 2021-22 is estimated at 8.7 percent as compared to a contraction of 6.6 percent in 2020-21.
"
All sectors of the sectors have shown growth during the financial year 2021-22 including manufacturing at 22.1 % , construction 30.7 % and Mining & Quarrying at 57.9 % .
Economy had grown at 20.3 % in q1 , at 8.5 5 in q2 and 5.4 % in Q3 of the financial year 2021-22 . Thus Indian GDP grew by 8.7 % in FY 2021-22 compared the negative growth of 7.3% in FY 2020-21 .
To read the Press notification of the ministry and complete statistics , CLICK HERE
GDP GROWTH FOR FY 21-22 IS AT 8.7 %
DATED 31.05.2022 : According to today's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the fourth quarter of FY 2021-22 ( January 2022 to March 2022 ) has grown at 4.1 percent as compared to growth of 2.5 percent in Q4 of fy 2020-21
The press report says " Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2021-22 is estimated to attain a level of ₹ 147.36 lakh crore, as against the First Revised Estimate of ₹ 135.58 lakh crore for the year 2020-21, released on 31.01.2022. The growth in
GDP during 2021-22 is estimated at 8.7 percent as compared to a contraction of 6.6 percent in 2020-21.
"
All sectors of the sectors have shown growth during the financial year 2021-22 including manufacturing at 22.1 % , construction 30.7 % and Mining & Quarrying at 57.9 % .
Economy had grown at 20.3 % in q1 , at 8.5 5 in q2 and 5.4 % in Q3 of the financial year 2021-22 . Thus Indian GDP grew by 8.7 % in FY 2021-22 compared the negative growth of 7.3% in FY 2020-21 .
To read the Press notification of the ministry and complete statistics , CLICK HERE
RETAIL INFLATION GOES FURTHER UP IN APRIL 2022 ALSO : STATISTICAL MINISTRY
DATED 12.05.2022 : 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 7.79 % in April 2022 against 6.95 % in March 2022 .
The index is steadily raising every month in the year 2022 . It was 6.07 % in February , 6.01 % in January
Food inflation in April is at 8.10 % against 7.47 % in March 2022. An inflation rate of 17.28 % in edible oils , Vegetables 15.41 % , Meat at 6.97 % and spices at 10.56 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India . RBI enhanced the repo Rate by 0.40 % in the last week to reign in inflation and we have to wait for May statistics to know its impact .
To read the Press Release of the ministry , CLICK HERE
DATED 12.05.2022 : 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 7.79 % in April 2022 against 6.95 % in March 2022 .
The index is steadily raising every month in the year 2022 . It was 6.07 % in February , 6.01 % in January
Food inflation in April is at 8.10 % against 7.47 % in March 2022. An inflation rate of 17.28 % in edible oils , Vegetables 15.41 % , Meat at 6.97 % and spices at 10.56 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India . RBI enhanced the repo Rate by 0.40 % in the last week to reign in inflation and we have to wait for May statistics to know its impact .
To read the Press Release of the ministry , CLICK HERE
INDUSTRIAL PRODUCTION SHOWS NOMINAL GROWTH IN MARCH 2022 TOO : STATISTICAL MINISTRY
DATED 12.05.2022 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) showed growth of 1.9 % in the month of March 2022 compared with the corresponding month of previous year ( March 2021 ) . The growth was 4.0 % in Mining , 0.9 % in Manufacturing and a growth of 6.1 % in Electricity production .
The cumulative growth for the financial year from April 2021 to March 2022 stands at 11.3 % compared with the same period previous year ( April 2020 to March 2021 ) . The growth was contributed by 12.2 % in Mining , 11.7 % in Manufacturing and 7.9 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 131,5 for the month of March 2022 against 118.10 in March 2021 .
To read the Press Release of the ministry , CLICK HERE
DATED 12.05.2022 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) showed growth of 1.9 % in the month of March 2022 compared with the corresponding month of previous year ( March 2021 ) . The growth was 4.0 % in Mining , 0.9 % in Manufacturing and a growth of 6.1 % in Electricity production .
The cumulative growth for the financial year from April 2021 to March 2022 stands at 11.3 % compared with the same period previous year ( April 2020 to March 2021 ) . The growth was contributed by 12.2 % in Mining , 11.7 % in Manufacturing and 7.9 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 131,5 for the month of March 2022 against 118.10 in March 2021 .
To read the Press Release of the ministry , CLICK HERE
INDUSTRIAL PRODUCTION SHOWS NOMINAL GROWTH IN FEBRUARY 2022 : STATISTICAL MINISTRY
DATED 12.04.2022 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) showed growth of 1.7 % in the month of February 2022 compared with the corresponding month of previous year ( February 2021 ) . The growth was 4.5 % in Mining , 0.8 % in Manufacturing and a growth of 4.5 % in Electricity production .
The cumulative growth for the financial year from April 2021 to February 2022 stands at 12.5 % compared with the same period previous year ( April 2020 to February 2021 ) . The growth was contributed by 13.2 % in Mining , 12.9 % in Manufacturing and 8.2 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 132.1 for the month of February 2022 against 129.9 in February 2021 .
To read the Press Release of the ministry , CLICK HERE
DATED 12.04.2022 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) showed growth of 1.7 % in the month of February 2022 compared with the corresponding month of previous year ( February 2021 ) . The growth was 4.5 % in Mining , 0.8 % in Manufacturing and a growth of 4.5 % in Electricity production .
The cumulative growth for the financial year from April 2021 to February 2022 stands at 12.5 % compared with the same period previous year ( April 2020 to February 2021 ) . The growth was contributed by 13.2 % in Mining , 12.9 % in Manufacturing and 8.2 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 132.1 for the month of February 2022 against 129.9 in February 2021 .
RETAIL INFLATION GOES FURTHER UP IN MARCH 2022 : STATISTICAL MINISTRY
DATED 12.04.2022 : 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 6.95 % in March 2022 against 6.07 % in February 2022 .
Food inflation is now at 7.47 % against 5.93 % in February 2022. An inflation rate of 18.79 % in edible oils , Vegetables 11.64 % , Meat at 9.63 % and spices at 8.53 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India . However RBI didn't act on interest rates during the MPC Meeting held in this month .
To read the Press Release of the ministry , CLICK HERE
DATED 12.04.2022 : 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 6.95 % in March 2022 against 6.07 % in February 2022 .
Food inflation is now at 7.47 % against 5.93 % in February 2022. An inflation rate of 18.79 % in edible oils , Vegetables 11.64 % , Meat at 9.63 % and spices at 8.53 % is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India . However RBI didn't act on interest rates during the MPC Meeting held in this month .
To read the Press Release of the ministry , CLICK HERE
RETAIL INFLATION CONTINUES ABOVE RBI TOLERANCE BAND IN FEBRUARY 2022 TOO : STATISTICAL MINISTRY
DATED 14.03.2022 : 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 6.07 % in February 2022 against 6.01 % in January 2022 .
Food inflation is now at 5. 93 % against 5.43 % in January 2022. An inflation rate of 16.44 % in edible oils , is also seen .
The inflation rate continues to be above the band of tolerance of 4 % to 6 % set by Reserve Bank of India .
To read the Press Release of the ministry , CLICK HERE
DATED 14.03.2022 : 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 6.07 % in February 2022 against 6.01 % in January 2022 .
Food inflation is now at 5. 93 % against 5.43 % in January 2022. An inflation rate of 16.44 % in edible oils , is also seen .
The inflation rate continues to be above 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 SHOWS IMPROVED GROWTH IN JANUARY 2022 : STATISTICAL MINISTRY
DATED 14.03.2022 : According to press release of Department of Statistics , Government of India released on 11.03.2022 , Index of Industrial Production ( IIP ) showed growth of 1.3 % in the month of January 2022 compared with the corresponding month of previous year ( January 2021 ) . The growth was 2.8 % in Mining , 1.1 % in Manufacturing and a growth of 0.9 % in Electricity production .
The cumulative growth for the financial year from April 2021 to January 2022 stands at 13.7 % compared with the same period previous year ( April 2020 to January 2021 ) . The growth was contributed by 14.2 % in Mining , 14.3 % in Manufacturing and 8.5 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 138.4 for the month of January 2022 against 136.6 in January 2021 .
To read the Press Release of the ministry , CLICK HERE
DATED 14.03.2022 : According to press release of Department of Statistics , Government of India released on 11.03.2022 , Index of Industrial Production ( IIP ) showed growth of 1.3 % in the month of January 2022 compared with the corresponding month of previous year ( January 2021 ) . The growth was 2.8 % in Mining , 1.1 % in Manufacturing and a growth of 0.9 % in Electricity production .
The cumulative growth for the financial year from April 2021 to January 2022 stands at 13.7 % compared with the same period previous year ( April 2020 to January 2021 ) . The growth was contributed by 14.2 % in Mining , 14.3 % in Manufacturing and 8.5 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 138.4 for the month of January 2022 against 136.6 in January 2021 .
LATEST NEWS ON INDIAN ECONOMY
GDP GROWS 5.4% IN QURTER 3 OF FY 21-22 : STATISTICAL MINISTRY
DATED 01.03.2022 : According to yesterday's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the Third quarter of FY 2021-22 ( October to December 2021 ) has grown at 5.4 percent as compared to growth of 0.7 percent in Q3 of fy 2020-21
The press report says "Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2021-22 is estimated to attain a level of ₹ 147.72 lakh crore, as against the First Revised Estimate of GDP for the year 2020-21 of ₹ 135.58 lakh crore, released on 31.01.2022. The growth in GDP during 2021-22 is estimated at 8.9 percent as compared to a contraction of 6.6 percent in 2020-21 . "
All sectors of the sectors have shown growth during the current financial year including manufacturing at 27.4 % , construction 38.5 % and Mining & Quarrying at 61.2 % .
Economy had grown at 20.3 % in q1 and at 8.5 5 in q2 of the current financial year 2021-22 .
To read the Press notification of the ministry and complete statistics , CLICK HERE
DATED 01.03.2022 : According to yesterday's press release of Department of Statistics , Government of India , Gross Domestic Product ( GDP ) at Constant (2011- 12) in the Third quarter of FY 2021-22 ( October to December 2021 ) has grown at 5.4 percent as compared to growth of 0.7 percent in Q3 of fy 2020-21
The press report says "Real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2021-22 is estimated to attain a level of ₹ 147.72 lakh crore, as against the First Revised Estimate of GDP for the year 2020-21 of ₹ 135.58 lakh crore, released on 31.01.2022. The growth in GDP during 2021-22 is estimated at 8.9 percent as compared to a contraction of 6.6 percent in 2020-21 . "
All sectors of the sectors have shown growth during the current financial year including manufacturing at 27.4 % , construction 38.5 % and Mining & Quarrying at 61.2 % .
Economy had grown at 20.3 % in q1 and at 8.5 5 in q2 of the current financial year 2021-22 .
To read the Press notification of the ministry and complete statistics , CLICK HERE
RETAIL INFLATION BREACHES RBI TOLERANCE BAND IN JANUARY 2022 : STATISTICAL MINISTRY
DATED 14.02.2022 : 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 6.01 % in January 2022 against 5.66 % in December 2021 .
Food inflation is now at 5. 43 % against 4.05 % in December 2021. An inflation rate of 18.70% in edible oils is also seen .
The inflation rate has now crossed now the band of tolerance of 4 % to 6 % set by Reserve Bank of India .
To read the Press Release of the ministry , CLICK HERE
DATED 14.02.2022 : 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 6.01 % in January 2022 against 5.66 % in December 2021 .
Food inflation is now at 5. 43 % against 4.05 % in December 2021. An inflation rate of 18.70% in edible oils is also seen .
The inflation rate has now crossed now 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 SHOWS NOMINAL GROWTH IN DECEMBER 2021 : STATISTICAL MINISTRY
DATED 11.02.2022 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) showed growth of 0.4 % in the month of December 2021 compared with the corresponding month of previous year ( December 2020 ) . The growth was 2.6 % in Mining , Negative 0.1 % in Manufacturing and a growth of 2.80 % in Electricity production .
The cumulative growth for the financial year from April 2021 to December 2021 stands at 15.2 % compared with the same period previous year ( April 2020 to December 2020 ) . The growth was contributed by 16 % in Mining , 16 % in Manufacturing and 9.4 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 138.0 for the month of December 2021 against 137.4 in December 2020 .
To read the Press Release of the ministry , CLICK HERE
DATED 11.02.2022 : According to press release of Department of Statistics , Government of India released today , Index of Industrial Production ( IIP ) showed growth of 0.4 % in the month of December 2021 compared with the corresponding month of previous year ( December 2020 ) . The growth was 2.6 % in Mining , Negative 0.1 % in Manufacturing and a growth of 2.80 % in Electricity production .
The cumulative growth for the financial year from April 2021 to December 2021 stands at 15.2 % compared with the same period previous year ( April 2020 to December 2020 ) . The growth was contributed by 16 % in Mining , 16 % in Manufacturing and 9.4 % in Electricity production .
The quick estimate of IIP with base 2011-12 stood at 138.0 for the month of December 2021 against 137.4 in December 2020 .
RBI EXPECTS GDP GROTH OF 7.8 % IN FY 2021-22 :
Dated 11.02.2022 : As per the Governor's statement published yesterday by RBI Governor Mr Shashikanata Das , India 's Real GDP is expected to grow by 7.8 % in the current Financial year 2021-22 . The published figures for the first three quarters are " Q1:2022-23 at 17.2 per cent; Q2 at 7.0 per cent; Q3 at 4.3 per cent " He expects a growth of 4.5 % in quarter 4 of the year , making total annual growth of 7.8 %
Hence he expects the economy level to be below March 2020 level , as real GDP growth at 9.2 per cent for 2021-22 ( only ) will takesit modestly above the level of GDP in 2019-20 . He attributes it to " Overall, there is some loss of the momentum of near-term growth while global factors are turning adverse " One of the reasons for reducing the expectations is " Private consumption, the mainstay of domestic demand, continues to trail its pre-pandemic level."
RBI estimate of growth is lower than the expectation of the Government . Economic Survey conducted by the Government had predicted a growth of 8% to 8.5 % in the current financila year .
Dated 11.02.2022 : As per the Governor's statement published yesterday by RBI Governor Mr Shashikanata Das , India 's Real GDP is expected to grow by 7.8 % in the current Financial year 2021-22 . The published figures for the first three quarters are " Q1:2022-23 at 17.2 per cent; Q2 at 7.0 per cent; Q3 at 4.3 per cent " He expects a growth of 4.5 % in quarter 4 of the year , making total annual growth of 7.8 %
Hence he expects the economy level to be below March 2020 level , as real GDP growth at 9.2 per cent for 2021-22 ( only ) will takesit modestly above the level of GDP in 2019-20 . He attributes it to " Overall, there is some loss of the momentum of near-term growth while global factors are turning adverse " One of the reasons for reducing the expectations is " Private consumption, the mainstay of domestic demand, continues to trail its pre-pandemic level."
RBI estimate of growth is lower than the expectation of the Government . Economic Survey conducted by the Government had predicted a growth of 8% to 8.5 % in the current financila year .
INDIA'S GDP TO GROW 8.0% TO 8. 5 % : ECONOMIC SURVEY
HIGHLIGHTS OF ECONOMIC SURVEY TABLED TODAY :
Dated 31.01.2022 : The Union Minister for Finance & Corporate Affairs Smt Nirmala Sitharaman tabled the Economic Survey 2021-22 in Parliament today, which states that the year ahead is well poised for a pick-up in private sector investment with the financial system in a good position to provide support to the revival of economy.
As per the survey , India to witness GDP growth of 8.0-8.5 per cent in 2022-23, supported by widespread vaccine coverage, gains from supply-side reforms and easing of regulations, robust export growth, and availability of fiscal space to ramp up capital spending. The growth projection for 2022-23 is based on the assumption that there will be no further debilitating pandemic related economic disruption, monsoon will be normal, withdrawal of global liquidity by major central banks will be broadly orderly, oil prices will be in the range of US$70-$75/bbl, and global supply chain disruptions will steadily ease over the course of the year.
Referring to First Advance Estimates, the Survey states that the Indian economy is estimated to grow by 9.2 per cent in real terms in 2021-22, after a contraction of 7.3 per cent in 2020-21. This implies that overall economic activity has recovered past the pre-pandemic levels. Almost all indicators show that the economic impact of the “second wave” in Q1 was much smaller than that experienced during the full lockdown phase in 2020-21, even though the health impact was more severe.
Other areas covered by the survey :
1. The Survey states that Agriculture and allied sectors have been the least impacted by the pandemic and the sector is expected to grow by 3.9 per cent in 2021-22 after growing by 3.6 per cent in the previous year .
2. The industrial sector went through a sharp rebound from a contraction of 7 per cent in 2020-21 to an expansion of 11.8 per cent in this financial year.
3. The Survey states that the services sector has been the hardest hit by the pandemic, especially segments that involve human contact. This sector is estimated to grow by 8.2 per cent this financial year following last year’s 8.4 per cent contraction.
4. Investment, as measured by Gross Fixed Capital Formation (GFCF) is expected to see strong growth of 15 per cent in 2021-22 .
5. On the Exports and Imports front, the Survey states that India’s exports of both goods and services have been exceptionally strong so far in 2021-22. Merchandise exports have been above US$30 billion for eight consecutive months in 2021-22 .
TO READ THE HIGHLIGHTS PUBLISHED BY PIB , CLICK HERE
Dated 31.01.2022 : The Union Minister for Finance & Corporate Affairs Smt Nirmala Sitharaman tabled the Economic Survey 2021-22 in Parliament today, which states that the year ahead is well poised for a pick-up in private sector investment with the financial system in a good position to provide support to the revival of economy.
As per the survey , India to witness GDP growth of 8.0-8.5 per cent in 2022-23, supported by widespread vaccine coverage, gains from supply-side reforms and easing of regulations, robust export growth, and availability of fiscal space to ramp up capital spending. The growth projection for 2022-23 is based on the assumption that there will be no further debilitating pandemic related economic disruption, monsoon will be normal, withdrawal of global liquidity by major central banks will be broadly orderly, oil prices will be in the range of US$70-$75/bbl, and global supply chain disruptions will steadily ease over the course of the year.
Referring to First Advance Estimates, the Survey states that the Indian economy is estimated to grow by 9.2 per cent in real terms in 2021-22, after a contraction of 7.3 per cent in 2020-21. This implies that overall economic activity has recovered past the pre-pandemic levels. Almost all indicators show that the economic impact of the “second wave” in Q1 was much smaller than that experienced during the full lockdown phase in 2020-21, even though the health impact was more severe.
Other areas covered by the survey :
1. The Survey states that Agriculture and allied sectors have been the least impacted by the pandemic and the sector is expected to grow by 3.9 per cent in 2021-22 after growing by 3.6 per cent in the previous year .
2. The industrial sector went through a sharp rebound from a contraction of 7 per cent in 2020-21 to an expansion of 11.8 per cent in this financial year.
3. The Survey states that the services sector has been the hardest hit by the pandemic, especially segments that involve human contact. This sector is estimated to grow by 8.2 per cent this financial year following last year’s 8.4 per cent contraction.
4. Investment, as measured by Gross Fixed Capital Formation (GFCF) is expected to see strong growth of 15 per cent in 2021-22 .
5. On the Exports and Imports front, the Survey states that India’s exports of both goods and services have been exceptionally strong so far in 2021-22. Merchandise exports have been above US$30 billion for eight consecutive months in 2021-22 .
TO READ THE HIGHLIGHTS PUBLISHED BY PIB , CLICK HERE
NEW CHIEF ECONOMIC ADVISOR APPOINTED
Dated 29.01.2022 : The Government of India has appointed Dr V. Anantha Nageswaran as the Chief Economic Advisor and he has assumed the charge yesterday . Prior to this appointment, Dr. Nageswaran has worked as a writer, author, teacher and consultant. He has taught at several business schools and institutes of management in India and in Singapore and has published extensively.
He was the Dean of the IFMR Graduate School of Business and a distinguished Visiting Professor of Economics at Krea University. He has also been a part-time member of the Economic Advisory Council to the Prime Minister of India from 2019 to 2021. He holds a Post-Graduate Diploma in Management from the Indian Institute of Management, Ahmedabad and a doctoral degree from the University of Massachusetts in Amherst.
He succeeds Mr K.V Subramanian who demitted the office in December 2021 after completing his tenure of three years
Dated 29.01.2022 : The Government of India has appointed Dr V. Anantha Nageswaran as the Chief Economic Advisor and he has assumed the charge yesterday . Prior to this appointment, Dr. Nageswaran has worked as a writer, author, teacher and consultant. He has taught at several business schools and institutes of management in India and in Singapore and has published extensively.
He was the Dean of the IFMR Graduate School of Business and a distinguished Visiting Professor of Economics at Krea University. He has also been a part-time member of the Economic Advisory Council to the Prime Minister of India from 2019 to 2021. He holds a Post-Graduate Diploma in Management from the Indian Institute of Management, Ahmedabad and a doctoral degree from the University of Massachusetts in Amherst.
He succeeds Mr K.V Subramanian who demitted the office in December 2021 after completing his tenure of three years
RETAIL INFLATION FURTHER UP IN DECEMBER 2021 : STATISTICAL MINISTRY
DATED 12.01.2022 : 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 5.59 % in December 2021 against 4.91 % in November 2021 .
Food inflation was at 4.47 % . But a higher inflation rate of 24.32 % in edible oils was seen .
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
DATED 12.01.2022 : 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 5.59 % in December 2021 against 4.91 % in November 2021 .
Food inflation was at 4.47 % . But a higher inflation rate of 24.32 % in edible oils was seen .
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
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