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DAILY NEWS ANALYSIS
Core Sector Growth at 5.5% Part of: GS Prelims and GS-III-Economic data According to the data released by the Ministry of Commerce and Industry, the eight core sector industries recorded a growth of 5.5% in February, 2020 which is highest in 11-months. Key Points This spike is because of growth in refinery products, electricity, fertiliser, cement and coal production. However, crude oil, natural gas, and steel recorded negative growth
Fall in IHS Markit Part of: GS Prelims and GS-III- Economy Data The IHS Markit India Services Business Activity Index (i.e Service Purchasing Managers’ Index (PMI)) was at 49.3 in March, down from February’s 85-month high of 57.5. Important The Index is compiled by IHS Markit for more than 40 economies worldwide. IHS Markit is a global leader in information, analytics and solutions for the major industries and markets that drive economies worldwide.
COVID-19 and World reports Part of: GS Prelims and GS-III- Economy (PT-MAINS-PERSONALITY TEST) 1. Asia Development Bank assures India 2.2 billion support to fight COVID: Asian Development Bank today assured India of 2.2 billion US dollar support to fight against the COVID-19 pandemic. The financial support of about 16,500 crore rupees. In a call, Asakawa commended the Indian Government's decisive response to the pandemic, including a National Health Emergency programme. He commended ta
March core sector output slumps 6.5% Part of: GS-III- Economic data (PT-MAINS-PERSONALITY TEST) Output at India’s core sector contracted by 6.5% in March, Commerce Ministry data show, reflecting the early impact of the COVID-19 pandemic and the subsequent nationwide lockdown. Important Points The index of eight core sector industries, which form 40% of the weight of items included in the broader Index of Industrial Production (IIP), reflected a contraction in key parts o
R&D Statistics and Indicators Part of: GS-III- Economy (PT-MAINS-PERSONALITY TEST) According to the Research & Development (R&D) Statistics and Indicators 2019-20 report, India’s gross expenditure on R&D has tripled between 2008 & 2018 and scientific publications have risen to place the country internationally among the top few. The R&D Statistics and Indicators 2019-20 is based on the national S&T survey 2018 brought out by the Nation
Open Budget Survey 2019 Part of: GS-III-Economy (PT-MAINS-PERSONALITY TEST) Recently, the International Budget Partnership (IBP) has released an Open Budget Survey (OBS) 2019. The survey evaluates each country on the basis of the availability of key budget documents of the Central or Federal Government, and assesses whether these are made public, in a timely manner, and provide comprehensive information. Open Budget Survey The Open Budget Surv
India’s manufacturing sector activity hits record low in April amid lockdown: PMI Survey Part of: GS-III- Economic data (PT-MAINS-PERSONALITY TEST) The country's manufacturing sector activity witnessed an unprecedented contraction in April amid national lockdown restrictions, following which new business orders collapsed at a record pace and firms sharply reduced their staff numbers, a monthly survey said. The headline seasonally adjusted IHS Markit India Manufacturing Pu
LEADS Index Logistics Ease Across Different States (LEADS) index is a composite indicator to assess international trade logistics across states and Union territories. It is based on a stakeholders’ survey conducted by Deloitte for the Ministry of commerce and industry. Gujarat topped the first-of-its-kind index, and Punjab and Andhra Pradesh took the second and third positions, respectively. The index is loosely based on the World Bank’s biannual Logistics Performance Inde
CriSidEx India’s first sentiment index for micro and small enterprises ( MSEs) was developed jointly by CRISIL & SIDBI here today. CriSidEx is a composite index measuring MSE business sentiment. Its readings will flag potential headwinds and changes in production cycles and thus help improve market efficiencies.
INDIA’S FOREIGN TRADE India’s overall exports (Merchandise and Services combined) in April-May2020-21* are estimated to be USD 61.57billion, exhibiting a negative growth of (-) 33.66 per cent over the same period last year. Overall imports in April-May 2020-21* are estimated to be USD 57.19 billion, exhibiting a negative growth of (-) 48.31per cent over the same period last year. MERCHANDISE TRADE EXPORTS (including re-exports) Exports inMay2020 were USD19.05bi
Statistics Day Theme: SDG- 3 (Ensure healthy lives and promote well-being for all at all ages) & SDG- 5 (Achieve gender equality and empower all women and girls) The Government has been celebrating Statistics Day, to popularise the use of Statistics in everyday life and sensitise the public as to how Statistics helps in shaping and framing policies. It has been designated as one of the Special Days to be celebrated at the national level and is celebrated on the birth anniversary
National Statistics Day This year, Statistics Day (29th June) will be celebrated virtually, in view of the travel and safety advisories on account of the global Covid-19 pandemic. Imp Points Every year, Statistics Day is celebrated on 29th June, the birth anniversary of Prof. Prasanta Chandra Mahalanobis, to recognise his invaluable contribution to establishing the National Statistical System. Aim To popularise the use of s
Purchasing Managers’ Index (PMI) GS-Paper-3 Data (PT-Facts) According to the recent IHS Markit India Manufacturing Purchasing Managers’ Index (PMI), India’s manufacturing sector activity contracted at a faster pace in July 2020 than in June 2020. Manufacturing PMI: It stood at 46 in July 2020, down from 47.2 in June 2020. In PMI parlance, a score above 50 means growth, while a score below that denotes contraction. This is the fourt
Reviving the economy Context: In light of the poor quarterly GDP numbers for Q1 2020-21, the article analyzes the critical macro-economic indicators for the Indian economy and suggests remedial measures. The quarterly GDP growth rate for Q1 2020-21 has recorded a historic low. Gross Fixed Capital Formation: As per RBI, Gross Capital Formation refers to the ‘aggregate of gross additions to fixed assets plus the change in stocks during the counting period.’
India’s growth rate for 2021: IMF The IMF on Tuesday projected an 11.5% growth rate for India in 2021, making the country the only major economy to register double-digit growth this year amidst the COVID-19 pandemic. The International Monetary Fund’s growth projections for India reflected a rebound in the economy, which is estimated to have contracted by 8% in 2020 due to the pandemic. China is next with 8.1% growth in 2021 followed by Spain (5.9%) and France (5.5%). The IM
The Hindu Data 09 to 11 Feb Digital Exclusion Digitally excluded Indian stand at greater than 50% among which 40% are phones with no internet connectivity like feature phones and around 10% are non mobile users. Manual Scavenging Nearly 57% of manual scavengers as of Jan 2020 were from UP, followed by MH UK. High sewer deaths, were reported from UP, TN, DL followed by MH, GJ, HR. Significant number of Families of victims of sewer deaths didn't receive monetary c
Ease of Doing Business Rankings The ease of doing business index is an index created jointly by Simeon Djankov and Gerhard Pohl, two leading economists at the World Bank Group. The report is released by the World Bank. Why in news: 2020 data irregularities controversy: Several major newspapers – including the Financial Times, The Economist, and The Wall Street Journal – report that the data of China, Azerbaijan, United Arab
Economic revival from the economic recession Introduction After two-quarters of a sharp contraction, India’s economy is estimated to have rebounded out of a ‘technical recession’ to record feeble growth in the October-December 2020 period, with GDP rising by 0.4% and GVA by 1%. Reboot in production lines The ‘unlocking phase’ that was largely complete by late September, brought back a semblance of normalcy, with pent-up and festival demand spurring
Disruptions in the Economy caused by the upsurge in COVID-19 The latest official data on retail prices and industrial production released in April 2021 provide cause for disquiet, given that inflation continues to accelerate and output at the country’s factories contracted for a second straight month. While inflation quickened to a four-month high of 5.52% in March, as per provisional data from the National Statistical Office, the NSO’s quick estimates of the Index of Indust
Index of eight core industries The eight core sector industries include coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity. The eight Core Industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers. Industry Weight (In percentage) Petroleum & Refinery p
India’s Merchandise Trade Data, May 2021 India’s merchandise exports in May 2021 was USD 32.21 billion, an increase of 67.39% over May 2020 and an increase of 7.93% over May 2019 India’s egg :merchandise imports in May 2021 was USD 38.53 billion, an increase of 68.54% over May 2020 and a decline of 17.47% over May 2019 Value of non-petroleum and non-gems and jewellery exports in May 2021 was USD 23.97 billion, a positive growth of 45.96
India: fifth largest economy India recently overtook the UK to take over as the fifth-largest economy in the world. Image source - Indianexpress Important Points India overtook the UK to take over as the world's fifth-largest economy in the final quarter of 2021. India increased its lead in the first quarter of the computation, which is based on US dollars, according to IMF GDP data. India vs. the UK The nominal cash size of the Indian economy in the quarter
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