The Things You Should Know

As per the data released by Ministry of Commerce and Industry t he annual rate of inflation, based on monthly WPI (Wholesale Price Index), stood at  14.23%  (provisional) for the month of November, 2021 (over November, 2020) as compared to 2.29% in November 2020.  The high rate of inflation in November 2021 is primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals and chemical products, food products etc. as compared to the corresponding month of the previous year. Month over Month Change in Major Groups of WPI: Primary Articles (weight 22.62%): -  The index for this major group increased by (5.57%) to 168.6 (provisional) in November, 2021 from 159.7 (provisional) for the month of October, 2021. Prices of Crude Petroleum & Natural Gas (12.24%), Minerals (5.96%), Food Articles (5.81%) and Non-food Articles (2.15%) increased in November, 2021 as compared to October, 2021. Fuel & Power (weight 13.15 %): -The i...

  Ministry of Finance has released the data of gross GST revenue collection for the month of November on 1st of December.  The gross GST revenue collected in the month of November 2021 is  ₹ 1,30,526 crore   of which CGST is   ₹ 23,978 crore , SGST is   ₹ 31,127 crore , IGST is   ₹ 66,815 crore   (including ₹ 32,165 crore collected on import of goods) and Cess is   ₹ 9,606 crore   (including ₹ 653 crore collected on import of goods). The government has settled ₹27,273 crore to CGST and ₹ 22,655 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of November 2021 is ₹ 51,251 crore for CGST and ₹ 53,782 crore for the SGST. Centre has released ₹ 17,000 crore to States/UTs towards GST compensation on 03.11.2021. The revenues for the month of Novem ber 2021 are 25% higher  than the GST revenues in the same month last year and 27% over 2019-20. During the month, ...

The NITI (National Institute for Transforming India) Aayog   on 27th November released data on 'National Multidimensional Poverty Index'. As per the data, Kerala is having least percentage of multidimensionally poor population that is the 0.71% of its population while 51.91% population of Bihar is multidimensionally poor. Top 5 states having least poor population includes, Kerala, Goa, Sikkim, Tamil Nadu and Punjab. While bottom 5 states are Bihar, Jharkhand, Uttar Pradesh, Madhya Pradesh and Meghalaya. As per the PIB release, t his report is based on the National Family Health Survey 4 (NFHS-4), which was conducted between 2015 and 2016, and developed by the NITI Aayog in consultation with 12 ministries and in partnership with state governments and the index publishing agencies, namely, Oxford University’s Oxford Poverty and Human Development Initiative (OPHI) and United Nations Development Programme (UNDP).   How it is calculated? India’s national MPI (Multidimensional Pover...

  As per the data released by Ministry of Statistics & Programme Implementation. India's retail inflation for the month of October rises to   4.48 percent (Base 2012 = 100)  from previous month's 4.35 percent.  Inflation in rural area is recorded at 4.07  percent  against previous month's 4.13  percent   and in urban area CPI (Consumer Price Index) is recorded at 5.04  percent  against previous month's  4.57  percent . Stay tuned for more updates. Feel free to comment. This blog is now on  Telegam . For reports on Economics, Current Affairs and more, subscribe this blog on  Telegam .

Ministry of Finance has released the data of gross GST revenue collection for the month of October on 1st of November.  The gross GST revenue collected in the month of October 2021 is  ₹ 1,30,127 crore   of which CGST is   ₹ 23,861 crore , SGST is   ₹ 30,421 crore , IGST is   ₹ 67,361 crore   (including ₹ 32,998 crore collected on import of goods) and Cess is   ₹ 8,484 crore   (including ₹ 699 crore collected on import of goods). The government has settled ₹27,310 crore to CGST and ₹ 22,394 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of October 2021 is ₹ 51,171 crore for CGST and ₹ 52,815 crore for the SGST. The revenues for the month of  October 2021 are 24% higher  than the GST revenues in the same month last year and 36% over 2019-20. During the month, revenues from import of goods was 39% higher and the revenues from domestic transaction (includ...

  As per the data released by Ministry of Statistics & Programme Implementation. India's retail inflation for the month of May rises to   6.3 percent (Base 2012 = 100)  from previous month's 4.23 percent.  Inflation in rural area is recorded at  6.48  percent  against previous month's  3.75  percent   and in urban area CPI (Consumer Price Index) is recorded at  6.04  percent  against previous month's  4.71  percent . Stay tuned for more updates. Feel free to comment. This blog is now on  Telegam . For reports on Economics, Current Affairs and more, subscribe this blog on  Telegam . You may also like to Read: Index of Industrial Production Data | March 2021 http://politoeconomy.blogspot.com/2021/05/index-of-industrial-production-data.html GST Gross Revenue Collection | May 2021 http://politoeconomy.blogspot.com/2021/06/gst-gross-revenue-collection-may-2021.html April Retail Inflation at 4.29% ht...

Ministry of Finance has released the data of gross GST revenue collection for the month of May on 1st of June.  The gross GST revenue collected in the month of May , 2021 is  ₹ 1,02,709  crore  of which CGST is  ₹ 17,592  crore , SGST is  ₹ 22,653  crore , IGST is  ₹ 53,199   crore  (including  ₹ 26,002  crore  collected on import of goods) and Cess is  ₹9,265 crore  (including  ₹ 868  crore  collected on import of goods). The above figure includes GST collection from domestic transactions till 4 th  of June since taxpayers were given various relief measures in the form of waiver/reduction in interest on delayed return filing for 15 days for the return filing month May’21 in the wake of covid pandemic second wave. During this month the government has settled ₹ 15,014 crore to CGST and ₹ 11,653 crore to SGST from IGST as regular settlement. The revenues for the month of May 2021 are...

  As per the data released by Ministry of Statistics & Programme Implementation. India's retail inflation for the month of April declines to   4.29 percent (Base 2012 = 100)  from previous month's 5.52 percent.  Inflation in rural area is recorded at  3.82  percent  against previous month's  4.61  percent   and in urban area CPI (Consumer Price Index) is recorded at 4.77  percent  against previous month's  6.52  percent . Stay tuned for more updates. Feel free to comment. This blog is now on  Telegam . For reports on Economics, Current Affairs and more, subscribe this blog on  Telegam . You may also like to Read: Index of Industrial Production Data | March 2021 http://politoeconomy.blogspot.com/2021/05/index-of-industrial-production-data.html March Retail Inflation at 5.52% http://politoeconomy.blogspot.com/2021/05/march-retail-inflation-at-552.html GST Gross Revenue Collection | April 2021 htt...

As per the data released by Ministry of Statistic and Program Implementation, t he Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of March 2021 stands at 143.4 , which is   22.4 percent higher  as compared to the level in the month of March 2020.  The cumulative growth for the period April-March  2020-21  over the corresponding period of the previous year stands at  -8.6  percent . The growth rates for the Mining, Manufacturing and Electricity sectors for the month of March  2021  stand at 6.1  percent , 25.8  percent  and 22.5  percent  as compared to March  2020 . The cumulative growth in these three sectors during April-March   2020-21  over the corresponding period of previous year has been  -7.8 percent ,  -9.8  percent   and  -0.5 percent  respectively. As per Use-based classification, the growth rates in March  2021...

Ministry of Finance has released the data of gross GST revenue collection for the month of April on 1st of May.  The gross GST revenue collected in the month of April , 2021 is  ₹ 1,41,384  crore  of which CGST is  ₹ 27,837  crore , SGST is  ₹ 35,621  crore , IGST is  ₹ 68,481   crore  (including  ₹ 29,599  crore  collected on import of goods) and Cess is  ₹9,445 crore  (including  ₹ 981  crore  collected on import of goods). The government has settled  ₹ 29,185 crore  to CGST and  ₹ 22,756 crore  to SGST from IGST as regular settlement.  The total revenue of Centre and the States after regular and ad-hoc settlements in the month of April’ 2021 is Rs. 57,022 crore for CGST and Rs. 58,377 crore for the SGST. The revenues for the month of April 2021 are 14 % higher  than the GST revenues in the last month of March’2021. During the month, the revenues from dom...

As per the data released by Ministry of Statistic and Program Implementation, t he Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of February 2021 stands at 129.4 , which is   3.6 percent   lower  as compared to the level in the month of February 2020.  The cumulative growth for the period April-February  2020-21  over the corresponding period of the previous year stands at  -11.3  percent . The growth rates for the Mining, Manufacturing and Electricity sectors for the month of  February 2021  stand at  -5.5  percent ,  -3.7  percent  and  0.1  percent  as compared to  February 2020 . The cumulative growth in these three sectors during April- February  2020-21  over the corresponding period of previous year has been  -9.6 percent ,  -12.6  percent  and  -2.4 percent  respectively. As per Use-based classificat...

  As per the data released by Ministry of Statistics & Programme Implementation. India's retail inflation for the month of March rises to   5.52 percent (Base 2012 = 100)  from previous month's 5.03 percent.  Inflation in rural area is recorded at 4.61  percent  against previous month's 4.19  percent   and in urban area CPI (Consumer Price Index) is recorded at  6.52 percent  against previous month's 5.96  percent . Stay tuned for more updates. Feel free to comment. This blog is now on  Telegam . For reports on Economics, Current Affairs and more, subscribe this blog on  Telegam .