KEY TRENDS • Oxfam India's 2023 India Supplement report on poverty and inequality in India reveals that the gap between the rich and the poor is widening. Following the pandemic in 2019, the bottom 50 per cent of the population have continued to see their wealth chipped away. By 2020, their income share was estimated to have fallen to only 13 per cent of the national income and have less than 3...
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India posts GDP growth of 6.1 % in fourth quarter, 7.2 % in FY23 - The Tribune
India continues to maintain its streak of world-beating economic growth after GDP for the March quarter beat all expectations with a 6.1 per cent expansion that helped push the annual growth rate to 7.2 per cent. After this, the Indian economy is now USD 3.3 trillion in size. Asia’s third-largest economy beat all estimates to grow at 6.1 per cent in January-March, the last quarter of the 2022-23 fiscal, up from...
More »Indian banks gave more home loans than agricultural credit
In each of the last three years – from 2020 through 2022 – Indian banks lent more money to retail customers purchasing homes than they did to farmers. In fiscal year (FY)2021-22 commercial banks gaveRs. 17.54 lakh crore worth of housing loans, while agriculture and allied activities got Rs. 15.16 lakh crore. That is nearly 14 percent less. In FY 2021 and FY 2020 – one of which saw a...
More »People’s Commission Calls for National Fertiliser Policy to Reduce Imports, Strengthen CPSEs
-Newsclick.in There is need to build up self-reliance by nurturing the fertiliser CPSEs, rather than dismantling them through disinvestment and privatisation, read the PCPSPS statement. New Delhi: Amid concerns over global availability and growing demand for fertilisers, as well India’s dependence on urea import, the People's Commission on Public Sector and Public Services (PCPSPS) has called for a national fertiliser policy, consistent with the long-term food security strategy in India. “The national fertiliser...
More »Nov services PMI at a 3-month high of 56.4 thanks to new biz expansion -Shiva Rajora
-Business Standard The headline figure has been in the expansion zone for the sixteenth consecutive month since August 2021 India's services activity recovered to a three-month high in November as services firms benefited from accommodative demand. New business inflows rose markedly and at the quickest pace in the last three months. The Purchasing Managers' Index (PMI) for the Services Sector released by credit rating agency S&P Global improved to 56.4 in November from...
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