The year 2022 was supposed to mark the recovery of the Indian economy from the Covid-19 pandemic and lockdowns of the preceding two years. However, the Russian invasion of Ukraine in February pushed up prices of food, fuel and fertilizer worldwide. In India consumer price inflation, which had declined to under 5 percent in the September-November period of 2021, has steadily increased, staying above 6 percent throughout 2022. What happened to rural incomes in 2022? An...
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Oct-Dec Quarter GDP slows to 4.4% as manufacturing shrinks - Tanya Krishna
Financial Express India's gross domestic product in the October-December, 2022 quarter is estimated to have grown at 4.4 percent year-on-year, slowing down from the previous two quarters, and a tad slower than expected, mainly as manufacturing activity took a hit, and favourable base faded away, government Data showed on Tuesday. India’s GDP at constant prices in Q3 of FY 2022-23 is estimated at Rs 40.19 lakh crore, the Ministry of Statistics...
More »Oil Imports From Russia in The First Nine Months of 2022-23 Are More Than 9 Times import in the previous year - Bharath Kancharla
Data indicates that the overall imports from Russia in the first nine months of 2022-23 are already more than the thrice the value in the whole of 2021-22. In the case of petroleum products, this is more than 9 times. Factly.in Factly.in, using Data from the Department of Commerce's Export-Import Databank, has estimated that from April-December 2022, the total value of all imports from Russia was worth $32.82 billion, a majority of...
More »Banks eye Rural loan growth to push credit-deposit ratio - Mihir Mishra, Shayan Ghosh
Mint India’s rural borrowers and small businesses owners may have easier access to credit with public sector banks (PSBs) planning to increase financing to these segments, after the Union finance ministry urged lenders to improve their credit-deposit ratio. The C-D ration indicates how much of a banks' deposit base is being utilized for extending loans. The development may help expedite the revival of the rural economy, which is struggling to reach pre-covid...
More »The number of Micro, Small, Medium enterprises that closed in 2022-23 was 6000% greater than two years ago - Parliamentary Question
Rajya Sabha 10,655 micro, small and medium enterprises (MSMEs) closed in 2022-23. That is a 6,088% increase over the number in 2021-22, with 175 closures. The Data was revealed by the Ministry of Micro, Small and Medium Enterprises, Government of India as part of the response to a Parliamentary Question asked in the Rajya Sabha. The Data was compiled from the Udyam registration portal, the Ministry's online portal for registrations and...
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