SME Times is powered by   
Search News
Just in:   • Equity indices break two-day losing streak on value buying  • IMF urges Sri Lanka to tighten monetary policy  • Global semiconductor sales to reach $676 bn this year: Gartner  • Tinna Rubber hits upper circuit, investors accumulate 900% returns in year  • Availability of jobs in Japan improves for 1st time in 3 yrs 
Last updated: 19 Oct, 2021  

Rupee.Bag.9.Thmb.jpg Optimism abound on macroeconomic cues

GDP.9.jpg
   Top Stories
» Net direct tax collection reaches highest-ever figure in FY 22
» Musk has to manufacture here to sell Tesla cars in India: Gadkari
» Round tripping of industrial inputs by large players unfavourable to local value chains
» Sitharaman engages investors in Silicon Valley
» Modi hails India's success in achieving target of $400 billion of exports
Bikky Khosla | 19 Oct, 2021

Exports increased 21.35 percent to $33.44 billion in September 2021 compared to $27.56 billion in the same month last year. In the previous month of August, merchandise exports amounted to $33.28 billion. Cumulatively, exports during the first half of the financial year crossed $197 billion. It is good to see that the sector has for quite some time now been performing well, which is, no doubt, a good sign for the economy.

Meanwhile, low base effect, along with a rise in demand, pushed industrial output higher by 11.9 percent in August. This growth is encouraging, particularly in the light of IIP decline in August 2020, during the full-fledged lockdown period, of 7.1 percent. However, on a sequential basis, the production rate seems flat as IIP registered 11.5 percent in July. The manufacturing sector, which constitutes 77.63 percent of the index, grew 9.7 percent in August.

Also, September retail inflation eased on both a sequential and year-on-year basis. CPI inflation slipped to 4.35 percent last month from 5.30 percent in August 2021 and 7.27 percent in September 2020. Similarly, lower prices of primary goods eased wholesale inflation as well in September to 10.66 percent last month from 11.39 percent in August. However, on a sequential basis cost of manufactured products increased marginally in the month.

Amid these developments, the latest World Economic Outlook report shows India continuing to be the world's fastest growing major economy, with 9.5 percent GDP growth this fiscal year and 8.5 percent in the next. It adds that Indian has India has come out of a tough second wave of the pandemic. With most of its broadbased economic indicators reflecting optimism, it seems the Indian economy bounce back soon.

I invite your opinions.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 27 Apr, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter