๐จ๐พ +3.2% GDP
๐ฑ๐บ +3.2% GDP
๐จ๐ฟ +3.2% GDP
๐ต๐ฑ +3.1% GDP
๐ฉ๐ฐ +2.9% GDP
๐ซ๐ฎ +2.8% GDP
๐ง๐ฌ +2.7% GDP
๐ธ๐ช +2.7% GDP
๐ช๐ช +2.6% GDP
๐ฑ๐น +2.2% GDP
๐ฆ๐น +2.0% GDP
๐ณ๐ฑ +1.8% GDP
It's out! The @EU_Commission winter economic forecast for 2021 ๐
๐ช๐ธ +5.6% GDP
๐ซ๐ท +5.5% GDP
๐ญ๐ท +5.6% GDP
๐ธ๐ฎ +4.7% GDP
๐ฒ๐น +4.5% GDP
๐ต๐น +4.1% GDP
๐ธ๐ฐ +4.0% GDP
๐ญ๐บ +4.0% GDP
๐ง๐ช +3.9% GDP
๐ท๐ด +3.8% GDP
๐ถ +3.8% GDP
๐ช๐บ +3.7% GDP
๐ฌ๐ท +3.5% GDP
๐ฑ๐ป +3.5% GDP
๐ฎ๐ช +3.4% GDP
๐ฎ๐น +3.2% GDP
๐จ๐พ +3.2% GDP
๐ฑ๐บ +3.2% GDP
๐จ๐ฟ +3.2% GDP
๐ต๐ฑ +3.1% GDP
๐ฉ๐ฐ +2.9% GDP
๐ซ๐ฎ +2.8% GDP
๐ง๐ฌ +2.7% GDP
๐ธ๐ช +2.7% GDP
๐ช๐ช +2.6% GDP
๐ฑ๐น +2.2% GDP
๐ฆ๐น +2.0% GDP
๐ณ๐ฑ +1.8% GDP
๐ช๐ธ -11.0% GDP
๐ฌ๐ท -10.0% GDP
๐ฒ๐น - 9.0% GDP
๐ญ๐ท - 8.9% GDP
๐ฎ๐น - 8.8% GDP
๐ซ๐ท - 8.3% GDP
๐ต๐น - 7.6% GDP
๐ฆ๐น - 7.4% GDP
๐ถ - 6.8% GDP
๐ช๐บ - 6.3% GDP
๐ง๐ช - 6.2% GDP
๐ธ๐ฎ - 6.2% GDP
๐ธ๐ฐ - 5.9% GDP
๐จ๐พ - 5.8% GDP
๐จ๐ฟ - 5.7% GDP
๐ญ๐บ - 5.3% GDP
๐ฉ๐ช - 5.0% GDP
๐ท๐ด - 5.0% GDP
๐ง๐ฌ - 4.9% GDP
๐ฑ๐ป - 3.5% GDP
๐ฉ๐ฐ - 3.5% GDP
๐ฑ๐บ - 3.1% GDP
๐ซ๐ฎ - 3.1% GDP
๐ฎ๐ช - 3.0% GDP
๐ช๐ช - 2.9% GDP
๐ธ๐ช - 2.9% GDP
๐ต๐ฑ - 2.8% GDP
๐ฑ๐น - 0.9% GDP
More from Economy
On Jan 6, 2021, the always stellar Mr @deepakshenoy tweeted, this:
https://t.co/fa3GX9VnW0
Innocuous 1 sentence, but its a full economic theory at play.
Let me break it down for you. (1/n)
On September 30, 2020, I wrote an article for @CFASocietyIndia where I explained that RBI is all set to lose its ability to set interest rates if it continues to fiddle with the exchange rate (2/n)
What do I mean, "fiddle with the exchange rate"?
In essence, if RBI opts and continues to manage exchange rate, then that is "fiddling with the exchange rate"
RBI has done that in the past and has restarted it in 2020 - very explicitly. (3/n)
First in March 2020, it opened a Dollar/INR swap of $2B with far leg to be unwound in September 2020.
Implying INR will be bought from the open markets in order to prevent INR from falling vis a vis USD (4/n)
The Second aspect is now, that dollar inflow is happening, and the forex reserves swelled -> implying the rupee is appreciating, RBI again intervened from September, by selling INR in spot markets. (5/n)
https://t.co/9kpWP7ovyM
https://t.co/fa3GX9VnW0
Innocuous 1 sentence, but its a full economic theory at play.
Let me break it down for you. (1/n)
91 day TBills at 3.03%. Interest rates are even lower than RBI has them.
— Deepak Shenoy (@deepakshenoy) January 6, 2021
On September 30, 2020, I wrote an article for @CFASocietyIndia where I explained that RBI is all set to lose its ability to set interest rates if it continues to fiddle with the exchange rate (2/n)
What do I mean, "fiddle with the exchange rate"?
In essence, if RBI opts and continues to manage exchange rate, then that is "fiddling with the exchange rate"
RBI has done that in the past and has restarted it in 2020 - very explicitly. (3/n)
First in March 2020, it opened a Dollar/INR swap of $2B with far leg to be unwound in September 2020.
Implying INR will be bought from the open markets in order to prevent INR from falling vis a vis USD (4/n)
The Second aspect is now, that dollar inflow is happening, and the forex reserves swelled -> implying the rupee is appreciating, RBI again intervened from September, by selling INR in spot markets. (5/n)
https://t.co/9kpWP7ovyM
True that all the people cherishing the support of IMF or WTO for farm reforms need to cool it down a bit, because that is a model we do not want to emulate to the t in India here.
But here are some issues that deserve to be better discussed by all:
1. People who say we are emulating the Western model of agriculture are way off with this assumption. The process of primitive accumulation, the alienation of their people from their land and the way these 'first-world' countries have pushed their people into Industrial sector +
+ was a merciless phase.
But the same assumption won't work for India, because we have always had a large workforce in agriculture, agri subsidies have always run high, protection has been the hallmark of agriculture and rural representation in the parliament has always been+
+ high. Still, it is our utter failure from the beginning that we have not been able to incentivize the movement of our people to other lucrative sectors.
2. This brings us to the another point of providing MSP on all the commodities and the demand side of the issue that we+
+ conveniently ignore. Here's the thing, Food prices in India have about 65-70% weight in calculating the Consumer Price Index and 25-30% of wholesale price index. These indices affect the general price level in the economy i.e. the inflation. If MSP is offered on all the+
But here are some issues that deserve to be better discussed by all:
WTO backed by Western countries have always wanted to dismantle support systems for farmers in developing countries including India while pumping in federal payments to its farmers. Trump gave 46 billion dollars in 2020 alone to US farmers. pic.twitter.com/0V34ZQQq4J
— Ranveer Singh (@ranveersiiingh) February 4, 2021
1. People who say we are emulating the Western model of agriculture are way off with this assumption. The process of primitive accumulation, the alienation of their people from their land and the way these 'first-world' countries have pushed their people into Industrial sector +
+ was a merciless phase.
But the same assumption won't work for India, because we have always had a large workforce in agriculture, agri subsidies have always run high, protection has been the hallmark of agriculture and rural representation in the parliament has always been+
+ high. Still, it is our utter failure from the beginning that we have not been able to incentivize the movement of our people to other lucrative sectors.
2. This brings us to the another point of providing MSP on all the commodities and the demand side of the issue that we+
+ conveniently ignore. Here's the thing, Food prices in India have about 65-70% weight in calculating the Consumer Price Index and 25-30% of wholesale price index. These indices affect the general price level in the economy i.e. the inflation. If MSP is offered on all the+
