STATISTICS CALCULATOR
As many as 458 infra projects hit by cost overrun of Rs 5.71 lakh cr in May
In May this year, 458 infrastructure projects in India, each with an investment of Rs 150 crore or more, experienced a cost overrun totaling more than Rs 5.71 lakh crore, according to an official report. The Ministry of Statistics and Programme Implementation (MoSPI), which oversees infrastructure projects worth Rs 150 crore and above, highlighted that out of 1,817 monitored projects, 458 faced cost overruns and 831 projects were delayed.
448 infrastructure projects hit by cost overrun of Rs 5.55 lakh crore in April
The total original cost of implementation of the 1,838 projects was Rs 27,64,246.50 crore, and their anticipated completion cost is likely to be Rs 33,19,601.84 crore, which reflects an overall cost overrun of over Rs 5,55,355.34 (20.09 per cent of original cost), the ministry's latest report for April 2024 showed.
'Made in China' housing crisis solution may not be enough
China grapples with a colossal housing crisis, with millions of unoccupied apartments and unfinished developments, threatening its economy. Beijing's plan involves massive state intervention, buying unsold properties and converting them into social housing. However, doubts still persist about its adequacy and efficacy, raising concerns about the broader economic impact on China
'Excellent Idea': Dowry Calculator, from Anupam Mittal’s Shaadi.com, shocks users
Shaadi.com, led by Anupam Mittal, has introduced a 'dowry calculator' feature on its app to raise awareness about the issue of dowry in India. Instead of calculating dowry amounts, the tool reveals alarming statistics about dowry deaths, prompting users to reconsider the practice. The feature has gone viral, receiving widespread praise for its creative approach to highlighting this serious social issue.
Govt looks to change base year for major economic gauges to FY23, revamp of key datasets also being planned
The base year provides a reference point for measuring changes in economic variables and comparing relative performances of indicators over time. For instance, real gross domestic product (GDP) growth is currently calculated with reference to FY12 prices.
RBI Monetary Policy: India’s sticky inflation gives RBI reason to stay on hold
RBI MPC Meeting: India's steady inflation and the threat of rising food prices are likely to delay any interest rate cuts by the central bank. Consumer prices rose 4.83% in April, close to economists' expectations. The Reserve Bank of India has maintained its 6.5% benchmark interest rate for over a year, with no cuts expected until the final quarter of the year. Citigroup economists predict a shift to a neutral stance in August due to favorable inflation data. Food prices, a significant component of consumer prices, continue to rise, impacting the overall inflation rate. Erratic weather and the upcoming elections are additional factors complicating the central bank's decision-making process.
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MoSPI says 449 infra projects hit by cost overrun of Rs 5.01 lakh cr in March
The total original cost of these projects was Rs 26,87,535.69 crore, but their anticipated completion cost is expected to be Rs 31,88,859.02 crore, representing an 18.65% increase. The report noted that out of 1,873 projects, 779 were delayed, with reasons including land acquisition delays, environmental clearances, and infrastructure support issues
Company registrations drop in April, but LLPs continue to scale fresh peak
In April 2023-24, company registrations fell 3.7%, while LLPs surged 36%. The trend continued from the previous year, reflecting optimism and growth prospects despite technical challenges and a high base effect.
US overtakes China as Germany's top trading partner
The United States surpassed China as Germany's top trading partner in Q1, with trade totaling 63 billion euros, compared to China's just under 60 billion euros. This shift is attributed to the robust U.S. economy, declining trade with China, and structural changes in production. Germany aims to reduce dependence on China but faces uncertainties with potential policy changes.
443 infra projects hit by cost overrun of Rs 4.92 lakh cr in Feb
In February 2024, 443 infrastructure projects faced cost overruns exceeding Rs 4.92 lakh crore. A total of 764 projects were delayed, with reasons including land acquisition delays, COVID-19 lockdowns, and lack of infrastructure support.
After facing flak for delayed reports, panel likely to address data quality concerns
India's statistics have come under criticism from multiple quarters over quality issues and lag in releases. A paper published by the prime minister's economic advisory committee last year had criticised the National Sample Surveys, which are used for estimating poverty and unemployment, for having data quality issues.
Strong Q3 growth may push likely rate cuts to October
The stronger than expected real GDP growth in the third quarter may prompt RBI to continue the status quo on policy rate. Economists believe the easing cycle may not begin before October. Rate cuts are unlikely, but RBI's communication on liquidity is important.
Household consumption won't hit inflation much
The latest Household Consumption Expenditure Survey (HCES) is not expected to have a significant impact on consumer price index and inflation calculations. Rural spending on food was down 6.5 percentage points in 2022-23 to 46.4% from 2011-12.
US consumer prices rise more than expected in January, Wall Street slumps
The consumer price index (CPI) increased 0.3% last month after gaining 0.2% in December, the Labor Department's Bureau of Labor Statistics said on Tuesday. Annual revisions to the CPI data published last Friday were mixed, but generally showed inflation was on a downward trend after surging in 2022. In the 12 months through January, the CPI increased 3.1%. That followed a 3.4% advance in December.
Budget Basics: Confused about the calculations? This is how the budget math works
Budget 2024: Finance Minister Nirmala Sitharaman will present an interim budget on February 1. The interim budget will provide projections for the coming financial year, including calculations on income, spending, and borrowings. The budget-making process is based on assumptions, with the nominal GDP being a crucial factor.
A look at what drives inflation
On January 12, the ministry released preliminary index numbers for December, which will be revised in the following month. According to the ministry, data is collected from 1,114 urban markets and 1,181 villages covering all states/UTs through personal visits by field staff of the field operations division of the NSO on a weekly roster.
India's GDP growth pegged at 7.3% for FY24, govt's first advance estimate shows
India GDP Growth FY24 Forecast: The Indian economy is expected to grow by 7,3% in the current financial year, according to the first advance estimate released by the National Statistical Office. This is higher than the previous government forecast of around 7%, which was due to the Reserve Bank of India's revision of its GDP estimates.
India starts four-year term as UN Statistical Commission member
The nodal body of statistics in the country, the Ministry of Statistics and Programme Implementation has been trying to develop a database of high-frequency socio-economic indicators which cannot be compiled using administrative data.
421 Infra projects hit by cost overrun of Rs 4.40 lakh crore in Nov
"Total original cost of implementation of the 1,831 projects was ₹25,10,577.59 crore and their anticipated completion cost was ₹29,50,997.33 crore, which reflects overall cost overruns of ₹4,40,419.74 crore (17.54 % of original cost)," the ministry's latest report for November 2023 said.
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Govt likely to come out with logistics cost estimate framework on Thursday
India is set to release a framework to assess its logistics cost, with estimates suggesting it stands at 13-14% of the country's GDP. The government is working on a comprehensive report containing baseline aggregated logistics cost estimates and a long-term logistics cost calculation framework, which has been reviewed by external experts from the World Bank.
FD interest rate hikes not over yet; this RBI rule can push banks to increase fixed deposit rates
Fixed deposit interest rate hike: The era of rising interest rates on fixed deposits is not over yet. Some factors that indicate this is credit growth remaining much higher than deposit growth; the recent decision of the Reserve Bank of India (RBI) to increase the investment limit of non-callable deposits to Rs 1 crore. As an FD investor, you can take advantage of rising interest rates to invest in term deposits. Know how your FD interest rate will be impacted in the short term and long term.
Statistics Ministry to shop online for data
India's Ministry of Statistics and Programme Implementation (MoSPI) has approached online grocery platforms BigBasket and Reliance JioMart to gather data on product prices. The ministry aims to use this data to formulate the retail inflation basket and calculate monthly inflation. The move comes as online grocery shopping in India has seen significant growth, with the market expected to reach $37 billion by 2028.
10 Best Scientific Calculators in India For Versatile Functionality (2023)
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6 Best Scientific Calculators Under 1500 in India For A Polished Performance (2023)
Are you looking for scientific calculators under 1500? They are one of the most versatile devices for students and teachers that help make complex calculations easier and simpler. They have various features and dedicated keys for the most frequently used functions. Have a look at our curated list of the best scientific calculators under 1500 from top brands like Casio, Texas Instruments, and Bambalio here.
7 Best Scientific Calculators Under 1000 in India For Easier Processing (2023)
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7 Best Texas Instruments Scientific Calculators in India For A Smooth Performance (2023)
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8 Best Casio Scientific Calculators in India For A Seamless Functionality (2023)
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