Author: InvestPolicy

IMF delegates participate in a news conference on the IMF release of the World Economic Outlook Update, at IMF headquarters in Washington, DC, on July 25, 2023. | Photo Credit: AFP The IMF on July 25 projected a growth rate of 6.1% for India in 2023, which is a 0.2 percentage point upward revision compared with the April projection. This is reflective of the “momentum” from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment, the International Monetary Fund (IMF) said. “Growth in India is projected at 6.1% in 2023, a 0.2 percentage point…

In Telangana, there is a stark difference in socio-economic indicators between the districts around Hyderabad, the capital, and those far away from it. This is the fourth story in a series of Data Points exploring the inter-district differences in the southern States. The district-wise variations in Tamil Nadu, Kerala, and Karnataka were discussed earlier.Given that the State of Telangana was formed barely a decade ago and the frequency of data across many indicators is poor, it is tough to provide time-series comparisons to show how the State has grown. But in general, Telangana was neither at the top nor at…

In recent years, the credibility of some of NSO’s data, especially the results of various household surveys traditionally carried out by the National Sample Survey Office have come under a cloud, with even top government officials questioning their approach and outcomes. File | Photo Credit: Reuters The story so far: The Ministry of Statistics and Programme Implementation has formed a new Standing Committee on Statistics (SCoS) to advise on official data generated by the National Statistical Office (NSO). This panel, chaired by former National Statistical Commission chief and India’s first Chief Statistician Pronab Sen, will replace another committee headed by him…

Prime Minister Narendra Modi and USA President Joe Biden during the meeting with top CEOs at White House, in Washington, Friday, June 23, 2023. | Photo Credit: PTI India is indeed likely to be a rising “great power” and its economy will have the size similar to that of the U.S. by 2050, according to noted economics commentator Martin Wolf who has also highlighted that Western leaders are making a sensible bet on the country. “I judge that India should be able to sustain growth of GDP per head at 5% a year, or so, up to 2050. With better…

Consumers wait in a long queue, braving the rain, to buy tomatoes at a subsidised price at the MVP Rythu Bazaar, in Visakhapatnam on July 18. | Photo Credit: DEEPAK K. R. The story so far: As prices of tomatoes hover between ₹100 and ₹200 in various parts of the country, the Reserve Bank of India’s latest monthly bulletin has highlighted that the volatility of tomato prices has historically contributed to overall inflation levels in the country. How is tomato produced in India? Tomato production in the country is concentrated regionally in the States of Andhra Pradesh, Madhya Pradesh, Karnataka,…

Small States must prioritise raising their own revenue to reduce their dependency on the Union government The fiscal situation of India’s States has garnered significant attention in recent times. Despite ample data on State finances, most of the analysis is centred around larger States. There needs to be more discussion on the fiscal position of small States (i.e. States with a population of less than 1 crore). Most of these small States have distinctive characteristics that limit revenue mobilisation. Recognising these disabilities, the Constitution has provided mechanisms to address them. But these States continue to rely heavily on the Union…

KOLKATA, WEST BENGAL, 12/02/2014: Cheap ride The Tuk-Tuk has a price tag of ₹1.2 lakh, a running cost of ₹20 a day and runs 100 km on each electric charge. Photo: Ashoke Chakrabarty | Photo Credit: ASHOKE CHAKRABARTY The number of electric vehicles in India has surged from just 2,400 a decade ago to over 27.4 lakh as of July 2023. However, given the concurrent rise in the number of non-electric vehicles, the overall share of electric vehicles has still not crossed the 1% mark. Notably, there is also a wide inter-State disparity in the penetration of electric vehicles.There has…

Representational file image | Photo Credit: Bhagya Prakash K India’s petrol and diesel consumption fell in the first half of July as fury of monsoon flipped travel plans and reduced the demand in the agricultural sector, preliminary industry data showed.Demand for diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, fell 15% to 2.96 million tonnes in July 1- July 15, compared to the year-ago period.Consumption of diesel, which had soared 6.7% and 9.3% in April and May, respectively, as agriculture demand picked up and cars yanked up air-conditioning to beat the summer heat,…

Preparations are are on for the 3rd G-20 Finance Ministers and central bankers meeting in Gandhinagar. File | Photo Credit: ANI India will push its Group of 20 partners at a meeting it is hosting to support its proposal to raise the share of taxes multinational companies pay to countries where they earn “excess profits”, government officials said.India’s proposal, which has not been previously reported, could temper optimism among G-20 members such as Australia and Japan that the meeting of Finance Ministers and central bankers in Gujarat would make progress on a long-awaited overhaul of global corporate taxation.More than 140…

A Standing Committee on Statistics will review the framework and results of all surveys conducted under the aegis of the National Statistical Office. File illustration: Sebastian Francis The government has constituted a new internal oversight mechanism for official data, revamping a Standing Committee on Economic Statistics (SCES) set up in late 2019, soon after the findings from the last round of household surveys on consumption expenditure and employment were junked, citing ‘data quality issues’.In an order issued last Thursday, the Statistics Ministry said that the SCES — which was tasked with examining economic indicators only — will now be replaced…