Where are the stairs going ? – Indian Economy
When i am writing this post, Dalal Street was crashed and recovered a little (Negative), but not completely. Yet the fear due to on upcoming Elections. It’s not only for India in the Stocks, but for the Wall Street too. Wall Street makes a record with the biggest drops because of the continuation on rise of Treasury Yields. The US economy was also induced on Global Bond sell off.
However the US economy numbers were said that the Unemployment rate comes down to 3.7 percent from 3.9 % (September 2018). The Long term unemployment rate was also reduced to 0.82 % from 0.88 percent. Whereas the Growing and developing country’s Unemployment rate (India) had raised to 6.61 percent from 6.32 % which it was in August, 2018.
For the front, more people are taking their bag for the Entrepreneurship, on the other side it worries due to the unemployment numbers. Dollar-Rupee conversion support is not a good health for the growing country. This year is the last complete financial year for the led party before elections.
India’s GDP annual growth rate at 8.20 percent with 2597 $ USD Billion and the Gross Domestic Product Constant prices were at 33740 Billion rupees. The recent Inflation rate stood at 3.69 percent, which was the lowest for the past 12 months. Generally, the inflation rate in India, is computed based on Consumer Price Index (CPI) numbers. I had already written about in it in my previous article – Consumer Price Index Calculation.
The Current interest rate is 6.50 percent, where the RBI hikes the interest rate in the previous 2 events. The import prices were reduced to 513 index points, where the previous period at 523 points. The Export prices increased to 376 from 372 index points as it’s a healthy one.
The Export prices are hugely stricken by the exchange rates. The Current account deficit was also nearly 3 percent area and the dollar-rupee trading at nearly 75 rupee (74.77). The Debt to Gross Domestic Product (GDP) stands at 68.70 %, where for the China at 47.60 percent.
The Balance of Trade for India were given of 17.39 $ USD Billion and for the United States at 53.23 $ USD Billion and China stands at 27.91 $ USD Billion in August 2018. India’s Gold reserves for the last period was 573 Tonnes and the FDI (Foreign Direct Investment) Investments were at 1981 $ USD Million. The Tourist Arrivals was decreased to 784814 in August 2018, from 806255 in the July. The all time high on tourist arrivals for India is 1176000 in the period of December 2017 and the all time low 129286 in the month of May, 2001.
The Exports and Imports numbers for India is 27840 $ USD Million and 45240 $ USD Million respectively. For the Import, Mineral Fuels and Oils, Distillation products taken 27 % of total value. Pearls, Precious stones, Metals and Coins with the contribution of 17 % and Electrical – Electronic equipment with 11 percent contribution on total Imports.
Recently, the exports were increased to 19 percent year on year to 27.84 $ USD Billion in the month of August 2018. The Contribution of Chemicals on Export at 40 percent, Petroleum products with 31.8 percent, Gems and Jewellery on 24 % and Engineering goods of 21 percent. The Drugs and Pharmaceuticals played its export contribution of 18 percent.
You can read there are so many numbers for the Indian economy, thinking of it complicated. But, these are the above things are the basic economic indicators for any country. Let’s wait and see how the stairs move for the growing economy.
Kindly share your views / comments with a smile 🙂