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Weekend musings!!

  Why Opposition Congress, Communists, and NGOs want Elections based on Ballot papers Because people want to create booth capturing and ballot papers/ VVPAT rigging scenarios where bombs can b thrown at the crowd to kill them while miscreants can destroy all ballot papers/VVPAT evidences etc. And finally they can blame Modi for rigging and not able to manage elections etc. If 100% VVPAT print out is given to the people, then also they can sell the printouts for money to the parties . How SC can stop selling of votes with VVPAT printout proof for higher amounts? Indirectly such VVPAT printouts will only encourage more black money to flow into our elections. GOI should bring in a legislation whereby the Elections are jointly funded by Centre  through Budgetary allocations.SC should support the Govt for greater control, stricter monitoring and vigilance over expenses of Candidates who stand for elections. Only this can minimise use of black money in elections.     ...

IMF, World Bank and Asian Development Bank-all three have revised upwards India's GDP growth for 2024 & 2025

  That's good news for the Indian economy. The World Bank and IMF have both recently increased their projections for India's GDP growth in fiscal years 2024 and 2025. The IMF expects India's economy to grow at 7.8% in FY24, which is higher than the government's estimate of 7.6%. IMF raises India's FY25 growth forecast to 6.8%; FY26 outlook unchanged: IMF noted that the g rowth surprised on the upside in the second half of 2023 as robust domestic demand fuelled activity, especially in emerging Asian economies.  and most notably India, recorded sizable positive growth surprises. In  India, we expect investment to contribute disproportionately to growth, much of it public investment The World Bank projects a growth of 6.8% for both FY24 and FY25, attributing this to strong private consumption and public investment.  Recently India's GDP growth forecast has been revised upwards by the Asian Development Bank (ADB). Here's a quick summary of the key points: The A...

India's exports has come of age in FY 24

 February 2024 saw the highest monthly merchandise exports of the current fiscal year to yet. India exported USD 41.40 billion worth of goods in February 2024, up 11.86% from USD 37.01 billion in the same month the previous year. Petroleum products, engineering goods, electronics, organic and inorganic chemicals, drugs and pharmaceuticals, and petroleum products are the main drivers of merchandise export growth in February 2024. Exports of engineering goods reached USD 9.94 billion in February 2024, up 15.9% from USD 8.58 billion in the same month the previous year. Organic and inorganic chemical exports rise by 33.04% from USD 2.22 billion in February 2023 to USD 2.95 billion in February 2024. Exports of electronic goods grow by 54.81% to USD 3.00 billion in February 2024 from USD 1.94 billion in February 2023. In February 2024, the value of drugs and pharmaceutical products exported was USD 2.51 bn an increase of 22.24% overUSD 2.06 Billion in February 2023 Petroleum Products exp...

Current Positive Economic Indicators for FY 24-25 and beyond ,for Indian Economy

  GST collections and core sector growth in FY24 paint a positive picture of the Indian economy at the end of the fiscal year. Here's a breakdown of what we know: GST Collections: Reports indicate that GST collections remained buoyant throughout FY24. In February 2024, collections reached Rs 1.7 lakh crore, reflecting a year-on-year growth of 12.5% [1]. This trend is consistent with the entire fiscal year, suggesting increased economic activity. Robust Core Sector Growth: The core sector, which comprises eight key infrastructure industries in India, witnessed strong growth in February 2024. The Purchasing Managers' Index (PMI) for manufacturing activity rose to 56.9, indicating a significant expansion. Additionally, the output of these core sectors reached a three-month high of 6.7% in February, compared to 4.1% in January [2]. Connection Between the Two: A rise in GST collections often reflects a growth in economic activity. Businesses tend to collect and pay more GST as th...

Core Industries Growth in Dec 23 is the slowest in 14 months

  According to a press release from the Commerce Ministry,  the Index of Eight Core Industries (ICI) increased by 3.8% in December 2023 compared to the previous year .  The release also stated that the production of coal, natural gas, steel, fertilizers, refinery products, cement, and electricity increased in December 2023 However, the growth of India's eight core sectors slowed to 3.8% in December 2023, which is a 14-month low. This is a significant decline from the 8.3% recorded in the same period the previous year The eight core industries in India make up  40.27%  of the weight of items in the Index of Industrial Production (IIP).  The IIP is a measure of the growth of various sectors of an economy, such as mineral mining, power, and ma nufacturing The eight core industries in decreasing order of their weightage are: Refinery products Electricity Steel Coal Crude oil Natural gas Cement Fertilizers               ...

Significance of Ayodhya temple for Civilisational re-awakening

  "தருமத்தின் வாழ்வதனை சூது கவ்வும்;தருமம் மறுபடியும் வெல்லும்" என்ற பாரதியின் வாக்கு பலித்தது - நேரடியான எடுத்துக்காட்டு அயோத்தி இராமர் கோவில். This Ram temple has become a reality in India after 500 years and still those who are opposing it must remember that it has not been built in Mecca or Medina ,but in Ram's Janmasthan/birthplace in Ayodhya in India i.e Bharat!! It is incumbent upon media and Journalists to write reinforcing PM's words on Goodness ,Harmony and Dharm represented by Ram.Ram, according to Valmiki, lived as an ideal man which needs to be emulated by all human beings.Truth,Valour, sacrifice, patience, perseverance , endurance,persistence, forgiving others,being grateful are all eternal ideas and Ram is the personification of these values in life.His friendship with Tribal king Guha and his acceptance of forlorn Sabari are symbols of love, inclusivity and humility. We should Write how Ram's value systems are relevant to India as a modern civilisa...

India's Fiscal deficit glide path linked to India's credibility

 India's Fiscal deficit budgeted for FY 23-24 was 5.9% of GDP which is an important metric for measuring the efficiency of the Government of India in comprehensively managing its finances including its Revenue Collection and its Spending efficiency in terms of Capex as well as Revenue expenditures. As per FRBM Act GOI has taken up an obligation to reduce the fiscal deficit over the years and bring it down to 4.5% in Fy26.In this context, we need to understand that in FY 25 it has necessarily reduce it to 5.3% or less than that and in the forllowing FY26 it has compress the Fiscal deficit to 4.5% inorder to achieve as committed. Why this FD reduction is important 1)Fiscal deficit means that the Government is living beyond its means i.e it is borrowing out of its future revenue streams. More the FD, the Govt may be forced to borrow if its Revenue collections languish or expenditure runs out of control.We have seen two Covid years where GOI faced double whammies in both the years when...