Goaltide Daily Current Affairs 2023

Jan 24, 2023

Current Affair 1:
Government Data Roundup


Report 1:

Brief about the Report:

The RBI released its annual publication, ‘State Finances- A study of Budgets 2022-23’ recently. The report provides information on the assessment of finances of the State Governments for 2022-23 against the actual and revised provisional accounts for 2020-21, and 2021-22 respectively.

Key Findings:

  1. The debt of the states as a percentage of GDP is budgeted to reduce from 31.1 percent in 2020-21 to 29.5 percent in 2022-23. Even though there is an improvement, the ratio is still higher than the 20 percent threshold fixed by the FRBM Review Committee in 2018.
  2. The gross fiscal deficit (GFD) of the states as a percentage of gross domestic product (GDP) is budgeted to decline from 4.1 percent in 2020-21 to 3.4 percent in 2022-23. This indicates a great improvement after the deterioration of financial health in the wake of COVID-19.
  3. Compared to the previous three years, states have budgeted higher capital outlay in 2022-23. This is a positive sign, and if the governments are going to mainstream capital planning rather than treating them as residuals, it will help in the creation of productive assets in the education, health, and infrastructure sectors.
  4. A Capex buffer fund must be created whenever the flow of revenues is strong to ensure a smooth and quality flow of expenditure through the economic cycle.
  5. States must continue focusing on creating a friendly ecosystem for the private sector to thrive in. Additionally, inter-state businesses and trades must be encouraged and facilitated to realize the spill-over effects of state capex across the nation.

Report 2:

Brief about data and findings:

The ninth annual publication of the ‘Primary (urban) co-operative Banks outlook 2021-22 contains the financial accounts of Scheduled and Non-Scheduled Primary (Urban) Co-operative Banks (UCBs) for the financial year 2021-22. It provides information on key indicators such as profit and loss, non-performing assets, priority sector advances and important financial ratios such as capital adequacy, employee productivity and profitability.

Key findings:

  1. The total number of UCBs fell from 1534 in 2021 to 1514 in 2022. A major decline can be seen in the number of non-scheduled UCBs.
  2. The cash in hand for all UCBs as a percentage of total assets increased from 0.89 percent in 2021 to 0.94 in 2022. Similarly, balances with RBI have also improved from 2.20 percent to 2.47 percent during the same period.
  3. The deposits as a percentage of total liabilities fell from 80.10 in 2021 to 78.92 in 2022, while the borrowings improved from 0.77 percent to 0.85 percent during the same period.
  4. The gross NPA ratio (%) fell from 12.10 percent in 2021 to 9.75 percent in 2022, while the provisioning coverage ratio (%) increased from 58.91 % to 62.88 % during the same period.
  5. 86% of all the UCBs have the Capital to Risk Assets Ratio (CRAR) above 12. Around 6% of all UCBs have CRAR below 9%. The RBI guidelines for Tier-1 UCBs specify a minimum CRAR of 9% while it is 12% for Tier 2 to Tier 4 UCBs.

Report 3:

All-India Consumer Price Index Numbers for Agricultural and Rural labourers – December 2022

Brief about data and findings:

The Labour Bureau had been compiling CPI data for farm laborers since September 1964. The new series of CPI Numbers for (i) Agricultural and (ii) Rural Labourers (base 1986-87=100) replaced the previous series on base 1960-61=100 with effect from November 1995. These index statistics are compiled each month by the Field Operations Division (FOD) of the National Sample Survey Organization (NSSO), which periodically collects price information from 600 sample villages selected from 20 States.

Key highlights:

  1. The All-India Consumer Price Index Number for Agricultural Labourers (Base: 1986-87=100) remained stationary at 1167 points while for Rural Laborers (Base: 1986-87=100), it increased by 1 point for the month of December 2022, reaching 1179 points.
  2. The increase in the prices of medicines, bus fares, barber charges, etc. were the main factors contributing to the rise in the general index of Agricultural Labourers and Rural Labourers, rising by 0.91 & 0.93 points, respectively.
  3. The index varied differently in each state. In 9 States, there was a rise of 1 to 7 points for Agricultural Labourers. Himachal Pradesh is at the bottom of the index table with 911 points, while Tamil Nadu is at the top with 1350 points.
  4. In 9 States, there was a rise of 1 to 8 points for rural labourers. Himachal Pradesh is at the bottom of the index table with 961 points, while Tamil Nadu is at the top with 1338 points.
  5. Among the states, Rajasthan witnessed the largest increase in the Consumer Price Index Numbers for Agricultural Labourers (7 points) and Kerala witnessed the highest increase for Rural Labourers (8 points), and Manipur registered a maximum decline of 9 points each.


Report 4:

Brief about the data:

This index tracks variations in the economy’s level of industrial production. It conveys the tone of the nation’s industrial activity. This index’s base year is 2011–12, and it has a value of one hundred. This index provides a short-term examination of industrial performance in contrast to the annual survey of industries, which provides a complete and detailed picture of industrial activity.

The three sectors of mining (14.2%), manufacturing (75.5%), and electricity (10.1%) make up the industrial production index. Their relative weights are shown by the values in the brackets. As an alternative, there is a classification of commodities known as “use-based.” – primary goods (34.05%), capital goods (8.22%), intermediate goods (17.22%), infrastructure goods (12.34%), consumer durables (12.84%), and consumer non-durables (15.33%).

Key findings:

  1. The Quick Estimates of Index of Industrial Production (IIP) with base 2011–12 is 137.1 for the month of November 2022. In terms of sectors, the mining, manufacturing, and electricity sectors’ respective Indices of Industrial Production are 122.7, 136.7 and 166.7 respectively.
  2. As per the use-based classification, the indices for November 2022 are 132.5 for primary goods, 99.1 for capital goods, 145.6 for intermediate goods, and 159.6 for goods used in infrastructure and construction. Additionally, for the month of November 2022, the consumer durables and non-durables indices are 112.0 and 161.1 respectively.
  3. Only the mining sector’s performance improved in October 2022 when compared to September 2022. In November 2022, except for the electricity sector, the rest show an improvement in the provisional estimates as compared to October 2022.
  4. In the April-November 2022 growth over the corresponding period for 2021, the electricity sector tops with 9.8%, followed by general industries, manufacturing, and mining at 5.5%, 5.0%, and 4.7% respectively.

<< Previous Next >>

Send To My Bookmarks