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Sanju Verma Profile picture
@Sanju_Verma_
Sep 30, 2020 • 3 tweets • 3 min read • Read on X
My thread below on robust Current Account Surplus numbers for June'20 qtr indicate,how for 2 quarters in a row,India under @narendramodi govt has reported a surplus for 1st time in over 12 yrs💪

Do note,under @INCIndia,India's Current Account Deficit was a perilous,4.8% in 2013
When States like Kerala whined about lack of funds,it was big news

What should be BIG news is,@narendramodi govt has extended Overdraft& borrowing via #WMA for States,till March2021

Note:On 17thApril'20,RBI had raised WMA by 60% for States,to tide over #Covid related exigencies
Also,in a proactive move, @narendramodi gov has raised number of #Overdraft days from 36 to 50,in a qtr,for all States&UTs

States&UTs can remain in Overdraft mode continuously for 21 days,Vs the earlier,14 days

This leeway will help States facing Revenue Deficit,due to #Covid

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More from @Sanju_Verma_

Sanju Verma Profile picture
Jul 15, 2022
#Rupee has fallen far lower Vs #Dollar,comparatively👇

Euro,2 days ago,went below $1 for 1st time in 20yrs,reflecting big weakness in #Euro

Rupee,displaying strength,has risen big time against Euro,Pound &Yen💪

So #Madarsa dentists from Congress should stop lecturing on Rupee
@narendramodi govt in a landmark measure has allowed international trade settlement in #Rupees

Explained👇
When countries import&export goods&services,they have to make payments in foreign currency

Since US Dollar is world’s reserve currency,most trades are entered into in USD
Here,both parties involved have to incur conversion expenses&bear risk of foreign exchange rate fluctuations

This is where trade settlement in Rupee comes in-instead of paying &receiving US Dollars,invoice will be made in Indian Rupees if counterparty has #Rupee Vostro account
Read 6 tweets
Sanju Verma Profile picture
May 9, 2022
Congressi trolls who know nothing about Economy,are giving gyaan on #Dollar& #Rupee

Yes Rupee hit 77.40 to a Dollar,but,but..

Every major currency has hit lows against Dollar

China's Yuan hit 2yr low@ 6.7 to $
Euro hit 5yr low@ 1.04 to a $

#DollarIndex hit 20yr high at 104.07
Some Business News anchors are saying Rupee has fallen against Dollar because our monthly #TradeDeficit is hitting $20bn&our Current Account Deficit(CAD),will be 3%

Well,$20bn a month Trade Deficit is no big deal for us,given that our Goods+Services Exports are a massive $670bn
2.5-3% CAD for an economy growing at average of 7.5-9.5% is not a big deal either

In fact,in last 8yrs,average CAD under @narendramodi govt has been sub 2%,so we have enough leeway on that count

Why then are major Currencies falling against Dollar?

Well,reason is,Fed Rate Hike
Read 5 tweets
Sanju Verma Profile picture
Feb 1, 2022
PLI in 14 Sectors to create 50 lakh new jobs and additional production of Rs 30 lakh Cr

Budget lays blueprint of Amritkaal

Modern Infra for India at 100 with Multi modal approach

PM GatiShakti,Energy transition, Climate Action to fuel Sustainable development

#UnionBudget2022
PM #GatiShakti Master Plan to power 25000km of Highways

Unified Logistics Interface Program for JIT Inventory Management

Railways to fuel Logistics for Small Farmers

One Station One Product for Local Businesses

2000km under Kawach

400 Vande Bharat Trains
100 Cargo Terminals
NRDP for Better Connectivity

Rs 20000Cr to boost Transport Infra

Rs 2.73 lakh Cr as Public Procurement/MSP for Wheat &Paddy

Focus on Natural,Chemical Free& Zero Budget Farming

Drones for Agriculture

ECLGS till March 2023,with total cover of Rs 5 lakh Cr

##Budget2022
#Budget
Read 17 tweets
Sanju Verma Profile picture
Jan 31, 2022
Gita Gopinath says,India to become $4 trillion by 2024-25,which is excellent,despite a debilitating pandemic

#LargestVaccineDrive under #PMModi is working wonderfully well

My thread on #EconomicSurvey2022,which shows,Growth,under @narendramodi govt,is on track

#VShapedRecovery
Industrial growth estimated at 11.8% &Services at 8.2% in FY22 show how Economy under @narendramodi is ready to fire on all cylinders

Most Growth Parameters are back to pre-Pandemic levels,as India heads into #UnionBudget2022

#GDP&GVA growth 1.3%&1.9% over Pre #COVID19 levels
#EconomicSurvey shows,be it Operationalisation of Airports or Spread of Bank Branches, @narendramodi govt has truly transformed India,with financial inclusion getting top priority

India set to be Fastest growing for next 2yrs as per IMF,thx to bold reforms by #PMModi
#Modinomics
Read 7 tweets
Sanju Verma Profile picture
Jan 31, 2022
#EconomicSurvey2022 says

FY22 GDP growth estimated at 9.2%,highest since 1988-89

FY23 estimated at 8-8.5%

FY22 Investment/GDP ratio at 29.6%,highest in 7yrs

FY22 Gross Fixed Capital Formation,#GFCF to grow by 15%

India Fastest growing #economy globally,under @narendramodi💪
#EconomicSurvey2022 expects

Agri growth at 3.9%,after 3.6% growth in FY21

Overall Consumption to grow 7%,with Govt Consumption at 7.6%

Export Growth to be 16.5%

Import Growth to be 29.4%

Social Services Expenditure growth estimated at 9.8% at Rs 71.61 lakh Cr

#Modinomics
In April-Nov 2021,Rs 89066Cr was raised via 75 IPO issues,versus 29 companies which raised Rs 14733Cr in April-Nov 2020

Share of individual investors in total NSE turnover increased to 44.7%

221 lakh individual Demat accounts added between April-November 2021💪
#EconomicSurvey
Read 10 tweets
Sanju Verma Profile picture
Jan 27, 2022
Air India were nationalised by Nehru in 1953

Since it's merger with Indian Airlines in 2007-08,Air India never made profit

Accumulated losses at Rs70820Cr till Aug2021,showcase how #AirIndia was bled for decades by corrupt Congress

@narendramodi finally did what had to be done
As on Aug 31,2021,Air India had total debt of Rs 61562Cr

About 75% of the debt has been transferred to a SPV,#AIAHL,before handing over airline to Tata Group

Indian taxpayers will no longer have to pay Rs 20Cr per day,to keep loss making #AirIndia flying,thx to @narendramodi
Congress expectedly attacked the decision,as selling of family silver

What Tata is getting is not a cash cow but an airline which is bleeding &money needs to be pumped in to refurbish obsolete aircraft

No employee to be sacked for 1yr &resizing of staff only after paying VRS
Read 9 tweets

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