#RetailInflation in Sep@7.34%,Vs 6.69% in Aug,is due to rise in food price index which rose from 9.05% to 10.68%,MoM

Uptick in #foodinflation is temporary &driven by #COVID related supply disruptions--We had bumper crop last year&FY21,should see bumper agri production,yet again!
By Dec,#CPI should ease& inflationary pressure will abate,due to #BaseEffect& #Kharif arrivals

Note:Kharif sowing was up between 50-88%,for most crops,despite #lockdown

With INR@73.11/$ level,threat of imported inflation is minimal

#CoreInflation at sub 6%,bodes well
#economy
#IIP contraction in Aug at 8% Vs 10.8% in July,is driven by relatively better numbers from #Mining& #ConsumerNonDurables

After record #ManufacturingPMI of 56.8 in Sep,#ServicesPMI at 49.8 Vs 41.8 in Aug,is a good sign💪

#TradeDeficit in Sep@ $2.9 Vs $10.9,in Sep2019,bodes well
Note:Market was not expecting more than 44.7,for #ServicesPMI

Hence figure of 49.8,is indeed good news,beating so called pundits

Lower Trade deficit in Sep'20 was driven by 19.6% fall in imports,which is a concern;On positive side,exports grew 5.3%,driven by pharma&engg exports
Economies never jumpstart between go slow&go fast modes

That said,@narendramodi gov has infused stimulus akin to 20.97 lakh Cr in May2020,followed by 90000Cr package yet again,under #PMGaribKakyanYojna

Pace at which momentum is gaining traction,bodes well;4QFY21,should be good

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More from @Sanju_Verma_

13 Oct
One-time disbursement of Special #FestivalAdvance,to amount to Rs4000Cr

If given by all state govts,another 8000Cr is expected to be disbursed& employees can spend on any festival

Interest free advance of Rs 10000 under #SpecialFestivalAdvance,to be paid back in 10 instalments
Govt employees will get pre loaded #Rupay card of advance value&scheme will be available till March 31st 2021,for #FestivalAdvance scheme

For #LTCCashVoucher scheme,cost will be Rs 5675Cr for central govt employees who opt for it,leading to demand infusion of 19000Cr
#DemandPush
For PSUs&PSB employees who opt for #LTCCashVoucher,cost will be Rs1900Cr&demand infusion will be for 9000Cr

To avail of #LTCCashVoucher,you have to buy goods with #GST of 12% or more,via digital modes

With #COVID19 derailing travel plans,cash voucher in lieu of LTC,a good move
Read 5 tweets
10 Oct
Banks have sanctioned Rs 1.87 lakh Cr,to 50.7 lakh units under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme,#ECLGS,of @narendramodi govt💪

Rs 1.36 lakh Cr has been disbursed to over 27 lakh units in #MSME sector,impacted by slowdown caused by #coronavirus pandemic
Ambit of scheme,expanded to include #MSMEs with turnover of up to Rs 250Cr&individuals for business purposes

As of 5thOct2020,Rs 17460Cr of loans to individuals have been sanctioned,of which 5939Cr has been disbursed

#ECLGS scheme is a big success
#EconomicRecovery #GreenShoots
As many as 33 stranded housing projects with investment of 4197Cr accorded final approval under #SWAMIH scheme

Special window for Affordable&Mid Income Housing Fund #SWAMIH,is working at fast pace to provide relief to 25048 homeowners
#EconomicRecoveryOnTrack #ECLGS #GreenShoots
Read 4 tweets
9 Oct
#RBIPolicy's key highlights

Mood shifting from fear&despair,to hope

Rural economy is resilient

20000Cr OMO slated for 15thOct

RBI to conduct Rs 1 lakhCr #TLTRO,to further augment liquidity

Inflation to ease from Q4
GDP to enter +ve territory from Q4

#Dovish Policy,overall👍
Ample liquidity prevented RBI from reducing #REPO,which has been retained at 4%

Also,inflationary pressures,prevented any further reduction in rates,at this stage

@narendramodi govt completed its 1st half borrowing for FY21 at only 5.82%,lowest in 16 yrs,which is great news💪
Two takeaways from what RBI Governor said&that merit more attention,are

Risk weights will be assigned to all #HomeLoans henceforth,in relation to loan to value ratio,to de-risk home loans

Market operations to be allowed for State Development Loans,#SDLs,to ease States' finances
Read 4 tweets
7 Oct
As @narendramodi ji completes 20 remarkable yrs of being at the helm,it is time to re-plug my book #TruthandDare,which captures everything--from the #Gujarat model of development,which saw 15% growth in 2005-06,to new age #Modinomics,which has lifted over 75mn people from poverty
Price of #NaturalGas will be determined by market forces,to increase affordability👇

It will debottleneck E&P sector& make e-bidding,competitive &transparent

Will reduce demand-supply anomalies&imports

Bridge Trade deficit in Oil&gas

#CabinetDecisions by @narendramodi govt💪
Another decision by @narendramodi gov is the approval for 16.6km Kolkata East West rail corridor,that will connect Howrah on West Bank of Hoogly river,with Salt Lake City on East bank

Total project cost,8575Cr;will boost mass transit system&be ready by Dec2021
#CabinetDecisions
Read 8 tweets
3 Oct
BIG news is,double lane,9.02km #AtalRohtangTunnel in Pir Panjal Himalayan range,built at altitude of 3000 metres from mean sea level

@narendramodi govt builds world's longest,high altitude tunnel that can handle 3000 cars and 1500 trucks per day,at speed of 80km/hr--Infra push💪
It has state of the art electro mechanical system,including semi transverse ventilation system, SCADA controlled firefighting, illumination&monitoring system

#AtalTunnel is extremely significant for India's defence&will reduce Leh-Manali-Lahaul-Spiti travel time by 46km/6 hrs💪
Built by BRDO,#AtalRohtangTunnel has telephone facility at every 150 metre stretch,a fire hydrant every 60 metre,emergency exits at every 500 metre,turning cavern every 2.2km, air quality monitors every 1 km, broadcasting&automatic detection system with CCTVs,at every 250 metre
Read 4 tweets
22 Sep
#LabourCodes provide exemplary flexibility to industries;Definition of "fixed term" employment has been changed,making it easier for firms to hire contractual workers

Fixed term/Contractuals&regular workers will enjoy equal benefits,in many spheres,to protect Contractual workers
Social SecurityCode by @narendramodi govt will universalize social security by bringing informal&platform workers, under its ambit

Firms with less than 20 workers can join #EPFO to get social security benefits

Big move by @narendramodi govt to give informal sector a safety net
Internal workers will be free to voluntarily join employee state insurance,#ESI,scheme for getting healthcare benefits

#SocialSecurityCode says,all employees will now have offer letter

States&Centre will create database on #migrant workers&offer them several benefits-Good move
Read 8 tweets

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