India’s merchandise exports grew by 43 per cent in 202122 to cross the milestone of $400 billion dollars. The record exports in FY 2021-22 represent a 33 per cent surge over the pre-pandemic levels of 2019-20.
If the year 2020 was defined by the pandemic and all the stresses occasioned by it, it may be said that 2021 was the year of economic recovery with pent-up demand and generous fiscal and monetary stimulus by governments and central banks around the world spurring economic activity. However, by the time we entered 2022, the picture had darkened somewhat with inflation emerging as a major threat to global growth. And then, the war in Ukraine (which started on 24 February) added to the gloom. Consequently, stock markets around the world have begun to surrender the extraordinary gains they registered in 2021. Here in India, there are signs that with inflation threatening to get out of hand, the RBI may be forced to follow in the footsteps of the US Federal Reserve and push through a series of hikes in interest rates. Already the first shot has been fired with an unexpected hike of 40 bps in interest rates announced on May 4, 2022. All the same, amid the increasing pessimism about our economic outlook, there are some positive trends as well that bode well for the future.
One such trend is related to India’s collections under the goods and services tax (GST). Recently, it was reported that GST collected in April 2022 (and pertaining to the economic activity in March) broke all records, having touched Rs.1.68 lakh crore. This is the 10th month in a row that the GST revenues have exceed ₹1 lakh crore and the April collection is about 20 per cent higher than Rs.1.40 lakh crore achieved in April 2021.
This story is from the May - June 2022 edition of UNIQUE TIMES.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May - June 2022 edition of UNIQUE TIMES.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Mahindra 3X0
Do not let the new name confuse you, because this is still the same XUV300 underneath. But with such heavy updates to its styling, features and tech, Mahindra thought it warrants a new name and called it the 3XO.
Khajjiar: The Mini Switzerland Marvel
Nestled in the embrace of the Chamba District of Himachal Pradesh, Khajjiar emerges as a picturesque hill station, its natural allure and timeless charm beckoning travelers from far and wide.
Glow and Grow with Rosemary
Rosemary, often celebrated for its fragrant culinary delights, is a powerful herb that does more than just flavor our dishes.
"No" Is A Complete Sentence!
There is an unconsciously written screenplay, a written life plan, that every human being builds in his childhood. This life script is sometimes so detrimentally elongated or stretched even towards the end of one's life. This is regarding the so-called life positions or ok-positions that we credit to humans in the early stages of our lives. The standards you set determine the life you get!
10 Tips to Bring Down Blood Pressure
High blood pressure, also known as hypertension, affects millions worldwide and is a leading risk factor for cardiovascular diseases such as heart attack and stroke. The World Health Organization (WHO) observes World Hypertension Day on May 17th, to create awareness about this dangerous lifestyle condition.
A Brief Comparative Analysis Of The New And Old Evidence Act
The amendment to Section 45 of the Indian Evidence Act introduces a specific provision regarding the admissibility of expert opinions on electronic evidence.
Laughter Is a Powerful Medicine
Laughter is a strong medicine. Laughter triggers healthy, physical and emotional changes in the body. Laughter strengthens our immune system, boosts our mood, diminishes pain, and protects us from the damaging effects of stress.
From Kochi to Frankfurt The Borderless Autobiography
In the vast literary grounds of rich Kerala, a little boy by the name of C J Yesudasan takes birth as a curious spectator to the glorious years of Malayalam art and artists. In a few years, this seemingly ordinary child with an innate passion for drawing becomes one of the greatest artists to take center stage and uplift the Art of Cartooning to an unrivaled peak.
How Can You Collaborate Better with Gen AI to Hone Your Writing Skills...
In the digital age, characterized by rapid technological advancements, the emergence of General Artificial Intelligence (Gen-AI) has sparked debates across numerous disciplines. One area profoundly influenced by AI is the field of writing, where AI-generated content has become increasingly sophisticated. This development prompts a critical inquiry: Is the art of writing becoming obsolete with the advent of Gen AI?
A Rare Tango
Since both the US greenback and gold are the rival asset classes or 'frenemies' in the safe haven space, it may be one of the reasons for a rare convergence in their price path.
