Opposition is screaming about Inflation,but India under @narendramodi has curbed #Inflation,versus global peers

#VegetableInflation in India is minus 1.92% in May&Food inflation 5.01%

Globally,#FoodInflation up 39.7%, Cereal up 36.6%,Wheat price up 28% &Maize 89.3%

My thread👇
Globally #Inflation is rising because of co-ordinated fiscal stimulus,that has led to asset prices,zooming;For instance,annualized inflation in USA is 9.7%;2yrs back,US was in throes of #Disinflation

$6 trillion stimulus by #Biden has led to too much money chasing too few goods
For those wanting to know why the difference in #WPI&CPI,figures well,weights of items in CPI are based on average household expenditure,taken from consumer expenditure surveys

Weightage of Primary articles in #CPI is 55%+,with Food group alone having weight of 39.06%
#Inflation
WPI,in meanwhile,does not include #Services.A significant proportion of WPI basket represents #Manufacturing inputs&intermediate goods like minerals, basic metals, machinery,etc.#Primary articles have weightage of only 22.62%,with the Food group at roughly 17% in #WPI

#Inflation
Manufactured products have high weight of 64.23% in WPI.Hence #CPI is commonly known as #Consumer inflation,with focus on #Food while #WPI is known as Manufacturing inflation,with focus on Non Food items

RBI's target of 5.1% CPI for FY22 holds good,with CPI to fall to 4.7% in Q3

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More from @Sanju_Verma_

14 Jun
#RetailInflation in May 2021 is 6.3%,Vs 4.23% in April

Core Inflation is 6.6%,Vs 5.4%
Food Inflation is 5.01% Vs 1.96%

Despite uptick,@narendramodi
govt has done very well to rein in #Inflation

Global Food Index in May is up 39.7% YoY,due to drought in many parts of the globe
#GlobalFoodIndex is measured by
#FAO Food Price Index,#FFPI,which is a measure of monthly changes in international prices of a basket of #food commodities;It consists of average of five commodity group price indices,weighted by average export shares of each group over 2014-2016
Why have #Food prices surged globally?

Argentina saw a big drought

Ukraine&Russia also suffered from drought&inclement weather

Indonesia&Malaysia,biggest producers of #PalmOil,have curbed exports,as govts in these countries have made blending of Palm Oil,with fuel,mandatory
Read 10 tweets
31 May
.@INCIndia trolls elated at minus 7.3% GDP growth in FY21,forgetting this was a #Pandemic year,in fact the worst pandemic in 102yrs

Good News in 4Q👇

GDP growth was 1.6% despite consensus of minus 1.4%

GVA growth was 3.7% Vs consensus of 2.6%

Industrial growth was solid 6.9%
In fact,both in Q3&Q4FY21,India reported positive GDP&GVA growth

Industrial growth also was +ve for 2 qtrs in a row at 1.7%&6.9%

Agricultural growth has been a positive 3%+ in every single qtr,in last 4 qtrs

Construction growth has been a massive 6.5%&14.5% in Q3&Q4
#Economy
Some channels conveniently showing how WPI under @narendramodi govt has risen sharply,to 10.49% in April 2021

It is not #WPI but #CPI that matters& #RetailInflation measured by CPI was just 4.2% in April,with food inflation at 2.02%&Vegetable Inflation at minus 14.18%
#Economy
Read 10 tweets
30 May
#AatmaNirbharBharat is not just about Vocal for Local,but creating ecosystem that welcomes global investors&while in 1991,India had to pledge 47 tonnes of Gold,to raise $400mn,under @narendramodi govt,our #ForexReserves are $590bn,3rd highest globally

#7YearsOfSeva

My Thread👇
The Modi Govt ’s most important work has been in domain of women empowerment--From banning commercial surrogacy,to amending Medical Terminal of Pregnancy Act,to Menstrual protocol, strengthening POCSO&banning instant #TripleTalaq💪

#7YearsOfModiJi
#7yearsofModigovt #7YearsOfSeva Image
Farmer welfare is top priority for The Modi Govt;From sowing to selling& insurance,#FarmLaws give Farmers freedom to sell at price they wish to&at place of their choosing

Over Rs 1.35 lakh Cr credited directly to bank accounts of Farmers via #PMKisan

#7yearsofmodi #7YearsOfSeva Image
Read 9 tweets
30 May
Enterprise is the lifeblood of the economy and PM Modi understands that.India’s historic rise in Ease of Doing Business is based on policies that have replaced the red tape with a red carpet..The Modi Govt saw #EODB rise by a massive 79 points+ 💪

#7YearsOfSeva #7yearsofModigovt
When govt enables people's aspirations rather than being an obstacle, Ease of Living is achieved. Ease of process in citizen govt interfaces,ease of doing business &push to digital India are transforming India.

DBT has transferred over 13 Lakh Cr
#7YearsOfSeva #7yearsofModigovt
PM Modi has led a historic battle against corruption.Honesty is honoured&transparency is the norm.From getting British national Christian Michel extradited from UAE,to Vijay Mallya losing appeal in UK Supreme Court,thx to watertight case by Modi Govt,to now,nailing Mehul Choksi💪
Read 7 tweets
28 May
#MamataBanerjee is Arrogant &Unmindful of Welfare of People of #Bengal

Today,PM landed at Kalaikunda airbase after doing aerial survey in #Odisha&Bengal

When PM arrived to attend meet, there was no one from Bengal Govt&Mamata has audacity to talk of #Federalism?

#CycloneYaas
Both CM #MamataBanerjee&Chief Secretary of West Bengal were present in same premises&yet they did not receive PM

#PM,Governor&Union ministers patiently waited for half an hour for #WestBengal representatives to turn up

@MamataOfficial is a deplorable leader,consumed by hubris👎
Suddenly Mamata Banerjee,in her arrogance,stormed in&handed bunch of papers on cyclone impact to PM&said she is leaving as she has other meets lined up

If this was not shocking enough, #MamataBanerjee even did not allow officers of Bengal Govt to make a presentation
#CycloneYaas
Read 4 tweets
28 Apr
Spate of Q4FY21 results showcase #Economy is on track

#ICICIBank reported Profit of Rs4402Cr,a 260% jump YoY,with NII up a solid 16.8% at 10431Cr

Tech companies have done well,with #TechMahindra reporting Dollar Revenue growth of 1.6% QoQ &Margins up 10bps at 16%
#Modinomics💪
#HCLTech also reported good numbers with Dollar Revenue up 3% QoQ

IT&Business Services segment grew 4.4% QoQ

Even for #MarutiSuzuki,while Profit fell,it managed to have Gross Margins at 26%,Vs 27.5% QoQ

Margin above 25% despite challenges thrown by Pandemic,is good
#Modinomics
In Banking space,besides great results by #HDFCBank& #ICICIBank, #AxisBank too reported good results, with Profit at Rs2677Cr,Vs loss of 1388Cr,YoY

While Gross&Net NPAs of Axis rose 15%&52% YoY,with Provisions down 28%,good news is NII is up 11% at Rs7555Cr

#Economy #Modinomics
Read 5 tweets

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