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  Private consumption is the spending of households and individuals on consumption of goods and services.Private consumption in India during FY22-23 rebounded in India due to two reasons-1)one is due to the "pent-up" demand after the pandemic years of suppressed private consumption ;2) The increase in private consumption  during FY22-23 signals that households have more disposable income in their hand which in turn drives economic growth. Private consumption expenditure which comprises 61 per cent of the GDP estimates, grew by 7.5 per cent during FY22-23, higher than the pre-pandemic five-year average of 6.9 per cent.But the worrying point is that the private consumption growth was weak at 2.8% (YOY)in Q4 of FY22-23. Since private consumption accounts for approx 58-61% of GDP, Govt's policies must support them by enabling the households to have more disposable income in their hands.For that to happen, GOI will have to work on two pronged strategy 1)look at avenues for inc...

  - Brief overview of India's sovereign ratings:  India's sovereign rating is a measure of the country's creditworthiness and ability to repay its debts. It is determined by various credit rating agencies based on factors such as economic growth, fiscal policies, political stability, and external debt. India's current sovereign rating stands at BBB- with a stable outlook from Standard & Poor's, Baa3 with a negative outlook from Moody's, and BBB- with a stable outlook from Fitch Ratings. Despite challenges such as high public debt to GDP ratio necessitated by Covid and widening fiscal deficit , India has been able to retain Investment Grade Ratings due to sustained improvements in public finances. (Fiscal deficit trend)   - Sovereign rating is crucial as it reflects the creditworthiness of a country and its ability to repay its debts. It also affects the interest rates that a country has to pay on its borrowings, which in turn impacts its economic growth an...

  India is a major player in the global economy and has seen significant growth in its exports over the years. In 2021, India exported US$394.8 billion worth of goods around the globe, up by 33.4% increase since 2017 and accelerating by 43.3% from 2020 to 2021. India’s top exports by value in 2021 were refined petroleum oils, diamonds, medication mixes in dosage, jewelry and rice. These major exports approach one third (29.4%) of India’s overall export revenues. India’s top trading partners in terms of countries that imported the most Indian shipments by dollar value during 2021 were the United States, United Arab Emirates, China, Bangladesh, and Hong Kong. India has a relatively diversified range of exported goods and ranks among world-leading countries exporting diamonds, jewelry and refined petroleum. The growth in India’s exports can be attributed to several factors such as its strategic location near highly populated trading partners including China, Pakistan and Bangladesh, i...

Time series data of Direct Tax Collections by GOI is being released by IT Dept/CBDT now and then.There is no regularity in release of data and also in data details.Previous Time series data was released upto the year FY18-19 in May/ of 2020.Now this update has been released after 3 years gap.( Time series data ) The time series data contain whole host of details and a student interested in analysing our country's Direct Tax collection , can Data mine large amount of useful information. The most important datapoint is Direct Tax GDP ratio (Chapter 1.4) which has increased to 2.52% in FY21-22. Next to that is Chapter 1.5 which gives Pre-Assessment and Post-Assessment Collections.   Two observations based on the latest Time Series Chapter 1.5 details .1)it strengthens the argument that more than 89% of Direct Tax collections are thro Advance tax,TDS and Self assessment Tax.This percentage is even without considering,Equalization levy, Central TDS, Dividend Tax etc.which are also pre a...

All opposition political parties worth their salt have released their election manifestos condemning NPS and promising OPS, if they get elected. Already Congress has reverted back to OPS in Rajasthan, calculating that they will be able to save on Pension in the initial years upto middle of next decade and then the Pension bill will balloon."In the longterm everybody is dead" is what Lord Maynard Keynes said. So Long term is far off politically. OPS is inherently beneficial to Govt employees as they dont contribute to their Pension from their Salary but is wholly unsustainable fiscally and it also benefits Govt employees at the cost of Common man by shifting the burden of their Pension to the tax payers .It is like robbing Peter to pay Paul.If the fiscal deficit exceeds the target fixed by RBI and Govt, then it means the present State Govt is kicking the can down the road for future generations to service the bloated borrowings due to higher fiscal deficit today. But NPS is th...

  பிராமணர்கள் பூர்விகம் இந்த பாரத மண்தான்  1)இந்தியாவை கர்மபூமி-இப்புவியில் உன்னதமான இடம்-என்று வேதங்கள் சொல்கின்றன. பிராமணர்கள் கடைமையாக  தங்கள் சங்கல்ப மந்திரங்களில் இந்திய/பாரத புண்ணிய பூமியில் சடங்குகளை செய்வதாகத்தான் சொல்லித் தொடங்குவார்கள்  2)இந்தியாவில் தான் பிராமணர்களின், இந்துக்களின் அனைத்து வழிபாட்டுதலங்களும் உள்ளன.காசியும், இராமேஸ்வரமும் இவைகளில் மிக முக்கியமானவை.வேற்று நாட்டிலிருந்து வந்தவரானால் இந்தியாவில் வழிபாட்டுத்தலங்களுக்கு முன்னுரிமை கொடுத்திருக்க மாட்டார்கள். இந்நாட்டில் தோன்றிய இராமனையும், சிவனையும், கண்ணனையும் கடவுளர் ஆக்கியிருப்பார்களா. 3)நம் தாய்மொழி தமிழ்,சிவபெருமானின் அருளால் அகத்திய முனிவரால் தொடங்கப்பெற்றது என்று அறிவோம். அவர் பிராமணர்.தமிழின் மிகத்தொன்மையான தொல்காப்பியம் எழுதிய தொல்காப்பியரும் பிராமணர். ஏனெனில் அவர் வடமொழி ஐந்திரம் என்னும் இலக்கண நூல் நன்கு பயின்றவர். இவையெல்லாம் நம்கண்முன்னே உள்ளங்கை நெல்லிக்கனியைப்போல் தெரியும் சான்றுகள். ஆரியன் படையெடுப்பு என்பது ஆங்கிலேய ஏகாதிபத்தியத்தின் வலிந்து திணிக்கபட்ட கோட்பாடு .இது நம் இந்திய ச...

 Q3 FY23 GDP growth estimates released on 28th Feb 2023 mentions 4.4% growth as against 5.4% GDP growth estimated during Q3 of FY 22.With estimate of about 4 to 4.5% growth in Q4, the full year FY 23 GDP growth will be around RBI's GDP growth estimate of 6.8%.The nominal GDP growth for the full year FY23 will be around 15.9% Q2 FY 22 GDP growth is now estimated at 6.3%. The most important datapoint in these estimates is the revision of GDP growth of Pandemic years. The cumulative average real GDP growth during FY19-20 to FY 22-23 is now estimated better at 3.2% as against the potential real GDP growth of 7% of Indian economy. Since the GDP estimates of the previous years have been revised upwards, the base effect has impacted the current year GDP growth estimates. The most worrying aspect of Q3 of FY 23 is the contraction of manufacturing output at -1.1%. Private consumption which contributes about 60% of Indian GDP has also languished at 2.1% in Q3 FY23. Again Statistics reg. IIP ...