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State of Indian economy, according to the Economic Survey 2022

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3 years ago

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State of Indian economy, according to the Economic Survey 2022

This year’s annual pre-budget economic survey, prepared by chief economic adviser Sanjeev Sanyal, first highlighted India’s flexible policy response to the Covid-19 shock.
The “agile” framework is based on feedback loops and real-time monitoring of actual results, as opposed to the traditional “waterfall” strategy that introduces a pre-stimulus package. Agile methods are aided by 80 high frequency indicators (HFIs) for today’s extremely uncertain environment.
According to Sanyal, the survey reverted to a single-volume format after eight years as the two-volume format “became unwieldy.”
Economic survey forecasts India’s GDP to grow by 8-8.5% next fiscal year on the back of broad vaccine coverage, gains from supply-side reforms, strong export growth and fiscal capacity to increase capital spending if needed . The forecast is lower than the 9% forecast by the International Monetary Fund.
The survey noted that vaccination should not be seen as merely a health response, but as a current macroeconomic indicator.
The GDP forecast is based on assumptions that there will be no further weakening of the pandemic-related economic disruptions, that the monsoons will be normal, that the withdrawal of global liquidity by major central banks will be largely orderly, that global supply chain disruptions will steadily ease throughout the year and that oil prices will In the range of $70-75 per barrel.
While the first four assumptions seem plausible, the fifth assumption on oil prices seems promising as analysts expect Brent to average around $80 a barrel this year or even higher due to geopolitical risks in Eastern Europe .

Brent crude topped $90 last week for the first time since 2014 and could rise to $120 in the coming months.
However, the economic survey does suggest that India needs to be wary of imported inflation, especially rising global energy prices.
Interestingly, the Economic Survey uses satellite imagery to highlight India’s infrastructure development. For example, satellite photos of nighttime brightness between 2012 and 2021 show the expansion of electricity supply, economic activity and urban sprawl. Other images show the extent of urban sprawl in some parts of cities such as Gurugram, Bengaluru and Mumbai. (4 pictures below)
The survey acknowledged that India’s economic response to the pandemic has placed more emphasis on supply-side reforms than demand-side reforms. Some of these include production-linked incentive schemes, removal of retroactive taxes, relaxation of guidelines for the BPO sector, telecom sector reform and revision of the definition of MSME.
Whether the budget will offer measures to stimulate demand, such as cuts to income or fuel taxes and increased income tax relief, will be announced in a few hours.

Complete News Source : Business Standard

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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13 hours ago

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January 21, 2025

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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