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According to the report of WIPI, 2023 global patent applications has been increased. In 2022, applicants based in China filed around 1.58 million patent applications, followed by the US, Japan, the Republic of Korea, and Germany. The WIPI report also includes India as a star performer and secured the 40th position out of 132 countries.
27 December, 2023
Economic Data
The latest Migration and Development Brief reveals a continuing growth in remittance flows to low- and middle-income countries (LMICs) in 2023, albeit at a slower pace compared to previous years. The brief is a biannual report. Prepared by – The Migration and Remittances Unit, Development Economics (DEC). Released by – World Bank. Objectives – To provide the information about migration and remittance flows and related policies over the past 6 months and to provide medium-term projections of remittance flows to developing countries. Key findings of the report Remittances – It grew by an estimated 3.8% in 2023, reaching a total of USD669 billion in LMICs. A 7.2% increase in…
25 December, 2023
Economic Data
The 5th edition of the LEADS annual exercise provides insights into improvement of logistics performance at State/UT level. Basis – Logistics Performance Index (LPI) of World Bank. Unlike LPI that relies entirely on perception-based surveys, LEADS incorporates both perception and objective data. Launched in – in 2018 Objectives – To assess the performance of logistics eco-system across States and Union Territories (UTs) and to promote competitive federalism for development of logistics sector. Data source - A pan-India primary survey conducted across 36 States/UTs. 3 pillars of logistics performance - Quality of Logistics Infrastructure, Quality of Logistics Services, and Operating & Regulatory Environment. Key findings of LEADS (2023) A positive shift in perception is spread across…
22 December, 2023
Economic Data
According to the 5th edition of Global Status Report on Road Safety, road fatalities dropped globally, but India sees a rise. Launch year – 2009 Released by – World Health Organisation (WHO) Objectives – To describe the road safety situation in United Nations (UN) Member States and assess the changes with a particular focus on the evolution of the burden and responses since 2010. Data source – Based on survey and review of legislation in which 170 UN Member States and 2 territories participated. 2023 Report– It provides the first complete overview of progress made during 2011–2020 and sets a baseline for the Decade of Action for Road Safety 2021–2030. Key Findings…
18 December, 2023
Economic Data
The Food and Agriculture Organisation (FAO) of the United Nations launched the Regional Overview of Food Security and Nutrition 2023: Statistics and Trends report. The FAO report is a glimpse on the progress in meeting Sustainable Development Goals and World Health Assembly (WHA) global nutrition targets. Findings 74.1% of Indians (2020 – 76.2%) were unable to afford a healthy diet in 2021, Pakistan (82.2%), and in Bangladesh (66.1%) of the population faced difficulties in finding healthy food. Rising food costs, if not matched by rising income, will lead to more people unable to afford a healthy diet, the report warned.…
17 December, 2023
Economic Data
According to the recent quarterly bulletin of Periodic Labour Force Survey, unemployment rate in urban areas has come down. PLFS – It is published by National Sample Survey Office (NSSO) since 2017. Objective – To estimate the key employment and unemployment indicators (Worker Population Ratio, Labour Force Participation Rate, Unemployment Rate). Periodic Labour Force Survey (PLFS) Quarterly Bulletin Annual Report Launch Year 2018 2017 Latest Report For July- Sep, 2023 For 2022-2023 Total Reports 20 6 Measurement Only current weekly status (CWS) Both current weekly status (cws) and usual status (us) Coverage Urban areas Rural and Urban areas Current Weekly Status…
30 November, 2023
Economic Data
The annual publication of Road Accidents in India report was unveiled recently by the Union Ministry of Road transport and Highways. Objectives - It serves as a valuable resource for policymakers, researchers, and stakeholders in the realm of road safety. It also sheds light on emerging trends, challenges, and the Ministry's road safety initiatives. Data Source - Received from state/ UTs police departments in standardized formats as provided under the Asia Pacific Road Accident Data (APRAD) base project of UN Economic and Social Commission for Asia and the Pacific (UN ESCAP). Findings of 2022 report According to the report, road accidents claimed 19 lives in India every…
02 November, 2023
Economic Data
According to World Bank report, global economy is better placed than in the 1970s, but escalation of the west Asian conflict with disruptions from the Russian invasion of Ukraine could lead to a dual shock. It is a bi-annual report (April & October) published by the World Bank. Objectives – To provide market analysis for major commodity groups like energy, metals, agriculture, precious metals, and fertilizers. It forecasts prices for 46 key commodities, including oil. Commodity markets is a place which involves trading i.e., buying and selling of various commodities and their derivative products. Dual shocks in commodity markets refers to disruption in energy market as well as intensified…
02 November, 2023
Economic Data
Periodic Labour Force Survey (PLFS) in its 6th report has introduced a crucial focus on weekly hours worked, revealing that the inequality in total earnings might not capture the full picture. Periodic Labour Force Survey (PLFS) Published by –National Sample Survey Office (NSSO) Year of launch- 2017 Indicators Labour Force Participation Rates (LFPR) - Percentage of persons in labour force (i.e. working or seeking or available for work) in the population. Worker Population Ratio (WPR) - Percentage of employed persons in the population Unemployment Rate (UR) - Percentage of persons unemployed among the persons in the labour force Objective- To estimate…
01 November, 2023
Economic Data
India: fifth largest economy India recently overtook the UK to take over as the fifth-largest economy in the world. Image source - Indianexpress Important Points India overtook the UK to take over as the world's fifth-largest economy in the final quarter of 2021. India increased its lead in the first quarter of the computation, which is based on US dollars, according to IMF GDP data. India vs. the UK The nominal cash size of the Indian economy in the quarter through March was $854.7 billion on an adjusted basis and using the dollar exchange rate on the last day of the…
05 September, 2022
Economic Data
Index of eight core industries The eight core sector industries include coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity. The eight Core Industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers. Industry Weight (In percentage) Petroleum & Refinery production 28.04 Electricity generation 19.85 Steel production 17.92 Coal production 10.33 Crude Oil production 8.98 Natural Gas production 6.88 Cement production 5.37 Fertilizers production 2.63 The eight core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP). Index of Industrial Production (IIP) The Index of Industrial Production (IIP) is…
01 January, 2022
Economic Data
India’s Merchandise Trade Data, May 2021 India’s merchandise exports in May 2021 was USD 32.21 billion, an increase of 67.39% over May 2020 and an increase of 7.93% over May 2019 India’s egg :merchandise imports in May 2021 was USD 38.53 billion, an increase of 68.54% over May 2020 and a decline of 17.47% over May 2019 Value of non-petroleum and non-gems and jewellery exports in May 2021 was USD 23.97 billion, a positive growth of 45.96% over May 2020 and a positive growth of 11.51% over May 2019 Non-oil, non-GJ imports was USD 26.14 billion in May 2021, a positive growth of 41.32% over May 2020…
29 June, 2021
Economic Data
Disruptions in the Economy caused by the upsurge in COVID-19 The latest official data on retail prices and industrial production released in April 2021 provide cause for disquiet, given that inflation continues to accelerate and output at the country’s factories contracted for a second straight month. While inflation quickened to a four-month high of 5.52% in March, as per provisional data from the National Statistical Office, the NSO’s quick estimates of the Index of Industrial Production for February show output including at mines, the manufacturing sector and electricity generators shrank 3.6%, following on from January’s 0.9% contraction. Consumer Price Index…
25 April, 2021
Economic Data
Economic revival from the economic recession Introduction After two-quarters of a sharp contraction, India’s economy is estimated to have rebounded out of a ‘technical recession’ to record feeble growth in the October-December 2020 period, with GDP rising by 0.4% and GVA by 1%. Reboot in production lines The ‘unlocking phase’ that was largely complete by late September, brought back a semblance of normalcy, with pent-up and festival demand spurring spending, and helping reboot production lines. Agriculture sector: Agriculture remained the resilient bulwark in the third quarter as well, with farm GVA rising by 3.9% after being the sole sector to…
03 March, 2021
Economic Data
Ease of Doing Business Rankings The ease of doing business index is an index created jointly by Simeon Djankov and Gerhard Pohl, two leading economists at the World Bank Group. The report is released by the World Bank. Why in news: 2020 data irregularities controversy: Several major newspapers – including the Financial Times, The Economist, and The Wall Street Journal – report that the data of China, Azerbaijan, United Arab Emirates, and Saudi Arabia among others were suspected to be “inappropriately altered” in the 2020 Doing Business publication. In light of the data irregularities found in both the 2018 and 2020 reports, the World Bank announced on 27 August 2020 that it would…
21 February, 2021
Economic Data
The Hindu Data 09 to 11 Feb Digital Exclusion Digitally excluded Indian stand at greater than 50% among which 40% are phones with no internet connectivity like feature phones and around 10% are non mobile users. Manual Scavenging Nearly 57% of manual scavengers as of Jan 2020 were from UP, followed by MH UK. High sewer deaths, were reported from UP, TN, DL followed by MH, GJ, HR. Significant number of Families of victims of sewer deaths didn't receive monetary compensation as per Supreme Court directive.eg. In 30 out of 32 deaths in Maharashtra, no compensation was received. Data by…
16 February, 2021
Economic Data
India’s growth rate for 2021: IMF The IMF on Tuesday projected an 11.5% growth rate for India in 2021, making the country the only major economy to register double-digit growth this year amidst the COVID-19 pandemic. The International Monetary Fund’s growth projections for India reflected a rebound in the economy, which is estimated to have contracted by 8% in 2020 due to the pandemic. China is next with 8.1% growth in 2021 followed by Spain (5.9%) and France (5.5%). The IMF said that in 2020 China is the only major country which registered a positive growth rate of 2.3%. India’s…
27 January, 2021
Economic Data
Reviving the economy Context: In light of the poor quarterly GDP numbers for Q1 2020-21, the article analyzes the critical macro-economic indicators for the Indian economy and suggests remedial measures. The quarterly GDP growth rate for Q1 2020-21 has recorded a historic low. Gross Fixed Capital Formation: As per RBI, Gross Capital Formation refers to the ‘aggregate of gross additions to fixed assets plus the change in stocks during the counting period.’ Gross fixed capital formation measures the increase in fixed capital. Gross fixed capital formation includes spending on land improvements (fences, ditches, drains, and so on); plant, machinery, and…
08 September, 2020
Economic Data
Purchasing Managers’ Index (PMI) GS-Paper-3 Data (PT-Facts) According to the recent IHS Markit India Manufacturing Purchasing Managers’ Index (PMI), India’s manufacturing sector activity contracted at a faster pace in July 2020 than in June 2020. Manufacturing PMI: It stood at 46 in July 2020, down from 47.2 in June 2020. In PMI parlance, a score above 50 means growth, while a score below that denotes contraction. This is the fourth straight month of contraction for the Indian manufacturing sector. In April, the PMI had slipped into contraction mode, after remaining in growth territory for 32 consecutive months. The manufacturing PMI showed some recovery in May, and further…
05 August, 2020
Economic Data
National Statistics Day This year, Statistics Day (29th June) will be celebrated virtually, in view of the travel and safety advisories on account of the global Covid-19 pandemic. Imp Points Every year, Statistics Day is celebrated on 29th June, the birth anniversary of Prof. Prasanta Chandra Mahalanobis, to recognise his invaluable contribution to establishing the National Statistical System. Aim To popularise the use of statistics in everyday life and sensitise the public as to how statistics help in shaping and framing policies. To raise public awareness, especially among the younger generation, about the role of statistics in socio-economic planning. The theme for 2020: SDG-3 (Ensure healthy lives and promote well-being for all…
30 June, 2020
Economic Data
Statistics Day Theme: SDG- 3 (Ensure healthy lives and promote well-being for all at all ages) & SDG- 5 (Achieve gender equality and empower all women and girls) The Government has been celebrating Statistics Day, to popularise the use of Statistics in everyday life and sensitise the public as to how Statistics helps in shaping and framing policies. It has been designated as one of the Special Days to be celebrated at the national level and is celebrated on the birth anniversary of Prof. P C Mahalanobis, on 29th June, in recognition of his invaluable contribution to establishing the National…
29 June, 2020
Economic Data
INDIA’S FOREIGN TRADE India’s overall exports (Merchandise and Services combined) in April-May2020-21* are estimated to be USD 61.57billion, exhibiting a negative growth of (-) 33.66 per cent over the same period last year. Overall imports in April-May 2020-21* are estimated to be USD 57.19 billion, exhibiting a negative growth of (-) 48.31per cent over the same period last year. MERCHANDISE TRADE EXPORTS (including re-exports) Exports inMay2020 were USD19.05billion, as compared to USD29.99billion in May 2019, exhibiting a negative growth of (-)36.47per cent. In Rupee terms, exports were Rs. 1,44,166.01crore in May2020, as compared to Rs. 2,09,280.62crore in May2019, registering a…
16 June, 2020
Economic Data
CriSidEx India’s first sentiment index for micro and small enterprises ( MSEs) was developed jointly by CRISIL & SIDBI here today. CriSidEx is a composite index measuring MSE business sentiment. Its readings will flag potential headwinds and changes in production cycles and thus help improve market efficiencies.
08 June, 2020
Economic Data
LEADS Index Logistics Ease Across Different States (LEADS) index is a composite indicator to assess international trade logistics across states and Union territories. It is based on a stakeholders’ survey conducted by Deloitte for the Ministry of commerce and industry. Gujarat topped the first-of-its-kind index, and Punjab and Andhra Pradesh took the second and third positions, respectively. The index is loosely based on the World Bank’s biannual Logistics Performance Index (LPI). India was ranked 35 among 160 countries in LPI in 2016, up from 54 in 2014. LEADS is based on eight parameters such as infrastructure, services, timeliness, track and trace,…
27 May, 2020
Economic Data
India’s manufacturing sector activity hits record low in April amid lockdown: PMI Survey Part of: GS-III- Economic data (PT-MAINS-PERSONALITY TEST) The country's manufacturing sector activity witnessed an unprecedented contraction in April amid national lockdown restrictions, following which new business orders collapsed at a record pace and firms sharply reduced their staff numbers, a monthly survey said. The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell to 27.4 in April, from 51.8 in March, reflecting the sharpest deterioration in business conditions across the sector since data collection began over 15 years ago. The index slipped into contraction mode, after…
05 May, 2020
Economic Data
R&D Statistics and Indicators Part of: GS-III- Economy (PT-MAINS-PERSONALITY TEST) According to the Research & Development (R&D) Statistics and Indicators 2019-20 report, India’s gross expenditure on R&D has tripled between 2008 & 2018 and scientific publications have risen to place the country internationally among the top few. The R&D Statistics and Indicators 2019-20 is based on the national S&T survey 2018 brought out by the National Science and Technology Management Information (NSTMIS). The report on R&D indicators for the nation is an important document for the Evidence-based policymaking and planning in higher education, R&D activities and support, Intellectual property, Industrial competitiveness. Findings of the…
04 May, 2020
Economic Data
Open Budget Survey 2019 Part of: GS-III-Economy (PT-MAINS-PERSONALITY TEST) Recently, the International Budget Partnership (IBP) has released an Open Budget Survey (OBS) 2019. The survey evaluates each country on the basis of the availability of key budget documents of the Central or Federal Government, and assesses whether these are made public, in a timely manner, and provide comprehensive information. Open Budget Survey The Open Budget Survey is part of the International Budget Partnership's Open Budget Initiative, a global research and advocacy program to promote public access to budget information and the adoption of accountable budget systems. It is a biennial survey. The survey covers 117 countries. It rates the…
04 May, 2020
Economic Data
March core sector output slumps 6.5% Part of: GS-III- Economic data (PT-MAINS-PERSONALITY TEST) Output at India’s core sector contracted by 6.5% in March, Commerce Ministry data show, reflecting the early impact of the COVID-19 pandemic and the subsequent nationwide lockdown. Important Points The index of eight core sector industries, which form 40% of the weight of items included in the broader Index of Industrial Production (IIP), reflected a contraction in key parts of the economy in March, according to the data released. Its cumulative growth during the last fiscal year was 0.6%. Analysts warned that the core sector data signalled…
01 May, 2020
Economic Data
COVID-19 and World reports Part of: GS Prelims and GS-III- Economy (PT-MAINS-PERSONALITY TEST) 1. Asia Development Bank assures India 2.2 billion support to fight COVID: Asian Development Bank today assured India of 2.2 billion US dollar support to fight against the COVID-19 pandemic. The financial support of about 16,500 crore rupees. In a call, Asakawa commended the Indian Government's decisive response to the pandemic, including a National Health Emergency programme. He commended tax and other relief measures provided to businesses. ADB President also appreciated 1.7 lakh crore rupees economic relief package to provide immediate income and consumption support to the…
13 April, 2020
Economic Data
Fall in IHS Markit Part of: GS Prelims and GS-III- Economy Data The IHS Markit India Services Business Activity Index (i.e Service Purchasing Managers’ Index (PMI)) was at 49.3 in March, down from February’s 85-month high of 57.5. Important The Index is compiled by IHS Markit for more than 40 economies worldwide. IHS Markit is a global leader in information, analytics and solutions for the major industries and markets that drive economies worldwide. The fall implies contraction in India’s services sector activity during March basically due to COVID-19. The COVID-19 pandemic has reduced demand, particularly in overseas markets. Nationwide store closures and prohibition to leave the…
08 April, 2020
Economic Data
Core Sector Growth at 5.5% Part of: GS Prelims and GS-III-Economic data According to the data released by the Ministry of Commerce and Industry, the eight core sector industries recorded a growth of 5.5% in February, 2020 which is highest in 11-months. Key Points This spike is because of growth in refinery products, electricity, fertiliser, cement and coal production. However, crude oil, natural gas, and steel recorded negative growth rate in February. This was the fourth consecutive month when the index of eight core industries reported growth. The outlook may not be very bright for March 2020, as the lockdown to check the spread of Covid-19 has disrupted the production process in…
03 April, 2020
Economic Data
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