WMG Wealth

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[WMG Wealth @wmg_wealth]

West Bengal GST commissioner Khalid Anwar said, "The state's Goods and Services Tax revenue has been steadily increasing, and we expect that the festive months will provide even more momentum. The cumulative growth in the current fiscal is expected to be over 20%.”

[WMG Wealth @wmg_wealth]

Durga pandals and the Durga Puja is celebrated everywhere now with vigour and pomp. Its unbelievable what the sector generated this season. A thread....

[WMG Wealth @wmg_wealth]

The room occupancy was 80 to 90%. Sales in both retail and food outlets have exceeded expectations (40% higher YoY). The actual sales during the Durga Puja festival look better than their estimated growth of 20-25%, and the sector had seen an "increase of over 30% over 2019.

[WMG Wealth @wmg_wealth]

3. Excessive valuation changes due to the appreciation of the dollar accounted for 67% of the decline in India's forex reserves in FY23. Also, accretion of $4.6 billion to the dollar reserves during the current financial year. #RupeeVsDollar #forex

[WMG Wealth @wmg_wealth]

Highlights of MPC - A quick recall:-

1. The Indian basket of crude oil prices stood at $104/barrel in the first half of FY23. Brent crude at $100 per barrel in the second half of FY23 is the expectation.
2. Bank credit has grown at an accelerated pace of 16.2%. #Oil #Crude #RBI

[WMG Wealth @wmg_wealth]

11. The current account deficit for Q1:2022-23 is placed at 2.8% of GDP with trade deficit at 8.1 %of GDP.
12. Rupee rises 12 paise to 81.61 against US dollar after monetary policy announcement #MPC #rbipolicy #RBIMPC

[WMG Wealth @wmg_wealth]

9. The net foreign direct investment improved to US$ 18.9 billion in April-July 2022 from US$ 13.1 billion (YoY)
10. Foreign portfolio investors have returned after a dry spell of almost 9 months to the domestic market with a net inflow of US$ 7.5 billion during July-September.

[WMG Wealth @wmg_wealth]

Did you know?
The oil demand in India is projected to register a 2x growth to reach 11 million barrels a day by 2045!
#wmgwealth #oil #economics #economy #india #didyouknow #growth #growthmindset #wealthadvisor #IndianEconomy #economyfacts #wmgdatanomics #knowledgeseries

[Press Trust of India @PTI_News]

There is no GST on withdrawal of cash from banks, says FM Sitharaman in Rajya Sabha

[WMG Wealth @wmg_wealth]

GST Revenue collection - JULY 2022 at 1,48,995 crores.
#IndianEconomy #bharath #gstcollection #wmg #growth #GST

[WMG Wealth @wmg_wealth]

The S&P Global India Manufacturing PMI rose to 56.4 in July (53.9 June).

[WMG Wealth @wmg_wealth]

In the last few months we have seen the Indian rupee gaining and the currency value against global currencies staging a recovery. Find out the 3m, 6m and 1 year currency movements between INR and GBP,USD, EURO and YEN. #currency #euro #usd #rupeevsdollar #indianeconomy #wmg

[WMG Wealth @wmg_wealth]

The Indian economy expanded 4.1% YoY in Q4 FY22 (slightly higher than market forecasts of 4%). The lower growth due to rising Omicron infections, elevated energy prices, and ongoing supply chain constraints.
#GDP #economy #indianeconomy #wmg #datanomics

[WMG Wealth @wmg_wealth]

GeM has made significant strides since its inception. Gross Merchandise Value (GMV) in last 4 years has been as under.

[WMG Wealth @wmg_wealth]

All about GeM - a thread!

[WMG Wealth @wmg_wealth]

The three pillars - Inclusiveness, transparency and efficiency