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Critics have asked,wrt #Budget2021, how will @narendramodi govt manage finances
Well,for every rupee in govt coffers, 53paise will come from direct& indirect taxes,36p from borrowings &other liabilities,6p from non-tax revenue like disinvestment&5p from non-debt capital receipts
Well,for every rupee in govt coffers, 53paise will come from direct& indirect taxes,36p from borrowings &other liabilities,6p from non-tax revenue like disinvestment&5p from non-debt capital receipts
GST will contribute 15paise in every rupee revenue,corporate tax will contribute 13paise to each rupee earned;8paise for every rupee,will come from union excise duty,3paise from customs duty&income tax will yield 14paise to every rupee collected
Fiscal math has been worked out💪
Fiscal math has been worked out💪
On #Expenditure side,biggest outlay is for interest payments at 20paise for every rupee,followed by States' share of taxes&duties@16paise
Allocation for #Defence is 8paise &Expense on Central schemes is 14p, while allocation for Central schemes is 9paise
#Budget2021 #Modinomics
Allocation for #Defence is 8paise &Expense on Central schemes is 14p, while allocation for Central schemes is 9paise
#Budget2021 #Modinomics
#RBIPolicy at 12pm today,is likely to keep status quo on #REPO rate, which was last lowered by 40bps in May 2020,to 4%
In 2020,REPO cut by a total of 115bps
In 2019 REPO cut by 135bps
What may weigh on #MPC's mind is #Inflation,which was 6.09% in June 2020 Vs 5.84%,in March'20
In 2020,REPO cut by a total of 115bps
In 2019 REPO cut by 135bps
What may weigh on #MPC's mind is #Inflation,which was 6.09% in June 2020 Vs 5.84%,in March'20
Some like #ICRA predicting 25bps REPO cut,saying #RBI may want to be ahead of the curve,despite build up of inflationary pressures
Well,10 Yr #BondYield was 5.83% y'day
Today 10 Yr@5.84%--Bond markets are clearly not expecting rate cut
#REPO at 4%,is already lowest in 20yrs
Well,10 Yr #BondYield was 5.83% y'day
Today 10 Yr@5.84%--Bond markets are clearly not expecting rate cut
#REPO at 4%,is already lowest in 20yrs
As expected, #RBIPolicy leaves #REPO& Reverse REPO unchanged
Right thing to do,as further reduction in rates at this stage, would have distorted #YieldCurve
Already,3 month #MCLR of #SBI is 6.65%& 1 yr at 7%
#MonetaryTransmission is happening,so more cuts not needed currently
Right thing to do,as further reduction in rates at this stage, would have distorted #YieldCurve
Already,3 month #MCLR of #SBI is 6.65%& 1 yr at 7%
#MonetaryTransmission is happening,so more cuts not needed currently
German GDP down 10% in June qtr
France down 14%
Singapore minus 41%
#USGDP minus 32.9%,as per advance estimates
#COVID has inflicted universal damage--fall in India will be relatively lower&cushioned by good agri growth
Even when March qtr GDP grew 3.1%,#AgriGrowth was 5.9%
France down 14%
Singapore minus 41%
#USGDP minus 32.9%,as per advance estimates
#COVID has inflicted universal damage--fall in India will be relatively lower&cushioned by good agri growth
Even when March qtr GDP grew 3.1%,#AgriGrowth was 5.9%
Besides Farm sector,thx to Banking clean-up,by @narendramodi govt, #Banks are doing well too
#SBI reported 81% jump in net profit at Rs 4189Cr
Yes,there was one time gain of 1540Cr--But even without this,profit grew by 15%& #NII by 19%
#GrossNPAs fell from 6.15% to 5.44% QoQ💪
#SBI reported 81% jump in net profit at Rs 4189Cr
Yes,there was one time gain of 1540Cr--But even without this,profit grew by 15%& #NII by 19%
#GrossNPAs fell from 6.15% to 5.44% QoQ💪
#NetNPAs of #SBI fell from 2.23%,to 1.88%,in June2020 qtr
Improvement in #AssetQuality of SBI is good news&this,despite providing for #COVID19India related losses
SBI made Covid related provisions worth 1836Cr inJune qtr
Total provisions against Covid related losses are 3008Cr
Improvement in #AssetQuality of SBI is good news&this,despite providing for #COVID19India related losses
SBI made Covid related provisions worth 1836Cr inJune qtr
Total provisions against Covid related losses are 3008Cr
