Each week, Plain Facts publishes a compilation of data-based insights – complete with easy-to-read visual charts – to help you delve deeper into the stories reported by Mint. This week, we examine how India’s economic growth fared in January-March, what net outflows India saw in May, and which were singer KK’s most streamed songs on Spotify.
lose steam
of India Gross Domestic ProductGrowth slowed to 4.1% in the quarter ended March, from 5.4% in the previous quarter, due to restrictions imposed to check the spread of the coronavirus, global supply crunch, high input costs and the fading base effect. The manufacturing sector declined 0.2%. The business and hotel segment, despite a 5.3% growth, failed to reach pre-pandemic levels, but other sectors performed relatively well. Inflationary pressures from the Russo-Ukraine war could further weigh on growth.
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expensive business
Inflation has become the center of pain for the country businesses Raw material costs are also facing the heat, with the consumer durables sector rising 22 percentage points (pps), the auto segment by 13 pps and the chemicals by 11 pps, recently showedMintanalysis. Rising costs have forced some firms to increase prices, which may affect consumer demand, further reducing businesses’ prospects.
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win big
233.41 million dollars:That’s a fat compensation package freshworks Girish Mathrubhumi, founder and chief executive of Inc. The amount in stock awards, which will vest over the next seven years, is one of the largest compensation packages an Indian businessman has received in recent years. However, Mathrubhumi will receive a 100% award if the company’s share price averages at least $200 for the two months prior to January 2029.
dumping equity
As India continues to face risks from high inflation and the Russo-Ukraine war, foreign investors continue to dump Indian equities. in May, foreign investors Equity sold for $4,871 million on prospects of a more aggressive rate hike by the US Federal Reserve. In the past one year, India has seen a net outflow of foreign investment in nine months and this may continue on account of adverse conditions from differential interest rates and higher crude oil prices.
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section shock
Brent crude oil prices rose to $123 a barrel on Wednesday, the highest since March, following the European Union’s decision to impose sanctions on Russian oil imports. The European Union has agreed to cut 90% of its oil imports from Russia by the end of 2022, which could keep crude prices under pressure. Crude oil prices crossed the $100 level on February 28 and climbed to $133 before settling around $110. another increase in crude oil Prices may make it difficult for India to manage inflation and the value of the rupee.
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caught in a storm
1.6 trillion:After a successful run in 2021, several companies such as Zomato and Nykaa have made headlines, initial public offering (IPO).IPO) hit the wall. As the Russo-Ukraine War sent markets into turmoil, plans for a public stock sale were almost A study by Prime Database said that 1.6 trillion were withheld with companies waiting for better returns. Some IPO aspirants are Fabindia, Aadhar Housing Finance, Go Airlines and PharmEasy.
hit the target
The Centre’s fiscal deficit stood at 6.7% of gross domestic product (GDP) in 2021-22 due to better-than-expected revenue collection. loss The government’s nominal GDP and tax estimates were expected to fall short of the target, being conservative. The government may see a fiscal fall of 10-40 basis points this year on account of excise duty cuts and additional spending on fertilizer and gas subsidies.
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Chart of the Week: KK’s Classics
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lead singer and artist KK passed away on Tuesday. He was 53 years old. His death reminded fans of some of his best songs. According to data from Spotify,strangefrom moviepeaceThe singer’s favorite song was streamed 36.9 million times.
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