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Shehzad Jai Hind

Jan 31 • 14 tweets • 7 min read

@nsitharaman

Thread on major takeaways from #EconomicSurvey report tabled by FM @nsitharaman ji in simple language that explains why India 🇮🇳 under @narendramodi ji is emerging as a SILVER LINING amidst dark,gloomy global clouds of economic turmoil & pain

Here ⬇️

GDP Growth

India’s GDP growth to remain strong,robust in 2023-2024

FY23 GDP - 7%
FY24 GDP- 6-6.8%

Even the IMF report acknowledges that India will be the fastest growing largest economy

India is 3rd largest economy in PPP terms,5th largest in terms of exchange rate

1/n

Inflation

Retail inflation is back within the Reserve Bank of India’s (RBI) target range of 6%

IMF predicts it will further fall to 5% in 2023 & 4% in 2024

This is a feat most developed nations couldn’t achieve! Let’s remember we were struck by Covid & Ukraine - Russia 2/n

Indian Rupee did well against Dollar compared to EMEs

8.8% depreciation- April to Dec 2022 even as S.Africa, Brazil, Australia saw double digit depreciation; India has sufficient forex reserves to finance CAD,intervene in forex market for managing rupee 3/n

Gross Fixed Capital formation highest since FY15

Private Capex is up ⬆️

India’s economic growth in FY23 principally led by private consumption and capital formation

4/n

Direct Tax collections for the period April-November 2022 remain buoyant.

Up from ₹5.4lakh cr in FY19 to ₹8.7 lakh cr in FY23

Avg monthly GST collections up from ₹0.9lakh cr in FY18 to ₹1.49lakh cr in FY23

5/n

Gross NPAs as % of Gross Advances is at 5% (lowest in 7 years)

We remember how bad loans & NPA were a hallmark of UPA 2 govt

6/n

India’s stock market outperformed USA,UK,Germany,China,Japan,US, S Korea 7/n

Govt debt to GDP growth was a mere 3% compared to Japan,US,UK,France ,China etc which saw more than 50/60% growth

8/n

This despite the fact that Modi govt has enhanced govt spending on Education, Health, other social welfare by staggering amounts

9/n

Agriculture gets Govt support

MSP for mandated crops at 1.5xCost

Institutional credit to agriculture expanded

Foodgrain production rises to 315.7 million tonnes

10/n

Hotel occupancy rate doubled
Housing sales gain pre-pandemic levels
Auto sales are up
Electronic exports almost 3x of FY19

11/n

Manufacturing & Employment

PMI manufacturing is in expansion mode

Unemployment rate at 4 year low

Net addition to EPFO rising

Labour force participation rate, worker population ratio are rising

12/n

Big infra push by Modi govt

Electricity , Railways, National Highways & Cargo handling capacity of ports see substantial boost since 2011

13/n

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More from @Shehzad_Ind

Shehzad Jai Hind

@Shehzad_Ind

Aug 21, 2022

Manish Sisodia & Kejriwal - twin towers of corruption are so desperate that they are trying every trick to divert & deviate.

Hence repeating my questions to Manish Sisodia & Kejriwal on the Liquor Scam which have not been answered till date WITH SOME NEW QUESTIONS

1/n

Q1 ) WHO IS VIJAY NAIR an accused in liquor scam-what was his relationship with AAP leaders ?

Q2 ) What is your rishta with accused no 11 Dinesh Arora?

What does he do for AAP?

What was his role in the Liquor scam? At whose behest ?

2/n

Q3)Is it not true that an illegal waiver was given to liquor mafia of Rs 144 cr?

Q4) Is it not true that operational period of licensees was extended from 1.04.22 to 31st July 2022 without due approvals

Q5) Is it not true that EMD of ₹30 cr was refunded to L1 illegally ?
3/n

Read 7 tweets

Shehzad Jai Hind

@Shehzad_Ind

Aug 20, 2022

Accused no1 Manish Sisodia will do a PC at 12pm & once again try to play the victim card or whataboutery card or deflection card

I am asking him 15 specific questions on the Liquor Scam

Hope he will answer these & not evade 1/n

Q1 ) What is your rishta with accused no 11 Dinesh Arora?

What does he do for AAP?

What was his role in the Liquor scam? At whose behest ?

Q2) Is it not true that an illegal waiver was given to liquor mafia of Rs 144 cr?

2/n

Q3) Is it not true that operational period of licensees was extended from 1.04.22 to 31st July 2022 without due approvals

Q4) Is it not true that EMD of ₹30 cr was refunded to L1 of Airport Zone illegally ?

3/n

Read 8 tweets

Shehzad Jai Hind

@Shehzad_Ind

Aug 19, 2022

Liquor Paap ki Jaanch ki Aaanch se Ghabrai AAP?
Here are some specific questions we have asked about the Liquor Scam.. But instead of answering these AAP plays a victimhood card.. They played it for Satyendra Jain too but he is in jail till date & courts denied him relief 1/n

Putting out a list of questions once again that AAP is not answering on Liquor scam

1) Is it not true that an illegal waiver was given to liquor mafia of Rs 144 cr?

2) Is it not true that EMD of Rs 30 cr was refunded illegally to one company?

2/n

3) Is it not true that discount of Rs 50/ crate on imported beer was given in violation of rules ?

4) Is it not true that operational period of licensees was extended from 1.04.22 to 31st July 2022 without due approvals

5) Is it not true that manufacturing companies were 3/n

Read 7 tweets

Shehzad Jai Hind

@Shehzad_Ind

Aug 12, 2022

Despite numerous attempts to explain basic concepts to AAP & Congress they do not seem to understand.

AAP is attempting to mislead people in a brazen manner- loan write-offs are not the same as loan waivers

Sadly, the media doesn’t ask any counters of Pinocchio Kejriwal 1/n

Write-off of bank loans is prudential accounting treatment and is done when 100% provisions are made against losses in a time-bound manner. This is as per RBI guidelines approved by bank Boards- banks continue to pursue recovery action against such borrowers 2/n

Fact:

As a result of concerted recovery efforts, banks have recovered over Rs 8.6 lakh crore bad loans in the last eight years on account of strong measures initiated by the government and the Reserve Bank.

Clearly there is no LOAN MAAFI! 3/n

Read 7 tweets

Shehzad Jai Hind

@Shehzad_Ind

Jul 27, 2022

PSBs' NET PROFIT DOUBLES TO 66,519 CRORE IN 2021-22.
State-run banks more than doubled their net profit in 2021-22 at Rs 66,519 crore as against Rs 31,820 crore in 2020-21. But how health of these PSBs improved? let us analyse. (1/9)

The big bad loan problem, Indian banks witnessed in Congress rule has been addressed to a large extent by the present Govt. In fact, this improvement is not sudden but gradual, in line with the improvement in the Economy as a whole. (2/9)

For this, one should thank the Modi Govt, Improvement in NPAs started way back in 2015 when it kicked off the massive asset quality review. This prompted banks to disclose hidden bad loans on their books & provide for each and every loan A/C that was in the default category.(3/9)

Read 9 tweets

Shehzad Jai Hind

@Shehzad_Ind

Jul 26, 2022

India is only major economy which has zero probability of slipping into recession, as per Bloomberg survey. However, Opposition being busy spreading false rumours about economy struggling to stay afloat tells a lot about its credibility and priorities. (1/4)

The same survey has raised expectations for a chance of recession from 0 % just a few months before in the United States to around 40%. Chances of recession are 50-55% in Europe, 33% in New Zealand, 20% in Taiwan, 20% in Australia and 8% in the respectively. (2/4)

Sri Lanka, which is in the midst of its worst economic crisis ever, has an 85% probability of falling into recession in the next year. China too has a probability of 20% of falling into recession, as per the survey. (3/4)

Read 4 tweets

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