High costs offset sales, mute profits: IIM-A report amidst GoI's high GDP growth claim

By Our Representative
The latest round of Business Inflation Expectations Survey (BIES) of the Indian Institute of Management-Ahmedabad (IIM-A), which seeks to provide ways to examine the amount of slack in the economy by polling a panel of India's business leaders, has said, "Improved sales expectations are offset by high cost increases. As a result, profit expectations remain muted."
Conducted each month by the Misra Centre for Financial Markets and Economy, IIM-A, by polling responses from around 1,000 companies, the survey results have been released amidst the Ministry of Statistics and Programme Implementation, Government of India (GoI) claiming that Gross Domestic Product in 2021-22 grew by a whopping 8.7%, and the Reserve Bank of India (RBI) predicting that the economy would grow at 7.2% in 2022-23.

The BIES report said, "The cost perceptions data indicates persistence of high cost pressures. Over 66% of the participating firms in the survey perceive significant (over 6%) cost increase for the consecutive three months." It added, "Over 36% of the firms in April 2022 round of the survey perceive that costs have increased very significantly (over 10%). For the consecutive four rounds, over 36% of the firms reported more than 10% cost increase."
This happened every as the "firms’ sales expectations in April 2022 have further improved. Percentage of firms reporting ‘much less than normal’ sales has marginally declined. Notably around 28% -- highest in the last 5 years -- of the firms in April 2022 report that sales are ‘about normal’,", the report said.

And yet, as cost pressure remained high, the report asserted, "For the past 4 consecutive rounds, over 77% of the firms in the sample are reporting ‘much less than or somewhat less than normal’ profit."
The report further said, "The business inflation expectations remained above 6% for the third consecutive month.The uncertainty of business inflation expectations in April 2022 has remained around 2.1%, same as reported during February-March 2022." It added, "The businesses in April 2022 expect one year ahead CPI headline inflation to be 5.90%, further up from 5.74% reported in February 2022."

Comments

70,000 migrants, sold on Canadian dream, face uncertain future: Canada reinvents the xenophobic wheel

By Saurav Sarkar* Bikram Singh is running out of time on his post-study work visa in Canada. Singh is one of about 70,000 migrants who were sold on the Canadian dream of eventually making the country their home but now face an uncertain future with their work permits set to expire by December 2024. They came from places like India, China, and the Philippines, and sold their land and belongings in their home countries, took out loans, or made other enormous commitments to get themselves to Canada.

Kerala government data implicates the Covid vaccines for excess deaths

By Bhaskaran Raman* On 03 Dec 2024, Mr Unnikrishnan of the Indian Express had written an article titled: “Kerala govt data busts vaccine death myth; no rise in mortality post-Covid”. It claims “no significant change in the death rate in the 35-44 age group between 2019 and 2023”. However, the claim is obviously wrong, even to a casual observer, as per the same data which the article presents, as explained below.

PM-JUGA: Support to states and gram sabhas for the FRA implementation and preparation and execution of CFR management plan

By Dr. Manohar Chauhan* (Over the period, under 275(1), Ministry of Tribal Affairs has provided fund to the states for FRA implementation. Besides, some states like Odisha, Chhattisgarh and Maharashtra allocated special fund for FRA implementation. Now PM-JUDA under “Dharti Aaba Janjatiya Gram Utkarsh Abhiyan(DAJGUA) lunched by Prime Minister on 2nd October 2024 will not only be the major source of funding from MoTA to the States/UTs, but also will be the major support to the Gram sabha for the preparation and execution of CFR management Plan).

Operation Kagar represents Indian state's intensified attempt to extinguish Maoism: Resistance continues

By Harsh Thakor Operation Kagar represents the Indian state's intensified attempt to extinguish Maoism, which claims to embody the struggles and aspirations of Adivasis. Criminalized by the state, the Maoists have been portrayed as a threat, with Operation Kagar deploying strategies that jeopardize their activities. This operation weaves together economic, cultural, and political motives, allegedly with drone attacks on Adivasi homes.

How Amit Shah's statement on Ambedkar reflects frustration of those uncomfortable with Dalit assertion, empowerment

By Vidya Bhushan Rawat* Dr. B.R. Ambedkar remains the liberator and emancipator of India’s oppressed communities. However, attempts to box him between two Brahmanical political parties betray a superficial and self-serving understanding of his legacy. The statement by Union Home Minister Amit Shah in the Rajya Sabha was highly objectionable, reflecting the frustration of those uncomfortable with Dalit assertion and empowerment.

Balod tech fest tests students’ interest in innovative ideas in the fields of science, engineering, start-ups

By Our Representative A techno fest scheduled on December 20 and 21 in Balod district of Chhattisgarh will test the innovative ideas of school students in the fields of science, engineering and start-ups. For this two-day fest organised at Maheswari Bhawan of the district, a total of 824 models made by students were initially registered. Out of those, a selection committee chose 200 models from several schools spread over five blocks of Balod. These will be on display on these two days from 10am to 4.30pm. Out of many ideas, one of the most interesting models is a smart glove which can be used by children with impairments and disabilities. For those who cannot speak at all or have speech difficulty, they can ask for help from caregivers by pressing their fingers on the glove after wearing it. This will attract attention.

Defeat of martial law: Has the decisive moment for change come in South Korea?

By Steven Lee Late at night on December 3, soldiers stormed into South Korea’s National Assembly in armored vehicles and combat helicopters. Assembly staff desperately blocked their assault with fire extinguishers and barricades. South Korea’s President Yoon Suk Yeol had just declared martial law to “ eliminate ‘anti-state’ forces .”

Ideological assault on dargah of Sufi Saint Khwaja Moinuddin Chishti will disturb pluralistic legacy: Modi told

Counterview Desk Letter to the Prime Minister about "a matter of the utmost concern affecting our country's social fabric": *** We are a group of independent citizens who over the past few years have made efforts to improve the deteriorating communal relations in the country. It is abundantly clear that over the last decade relations between communities, particularly Hindus and Muslims, and to an extent Christians are extremely strained leaving these latter two communities in extreme anxiety and insecurity.

Affable but arrogant, embodying contradictions, Raj Kapoor's legacy will endure as long as Bollywood exists

By Harsh Thakor* December 14 marks the birth centenary of Raj Kapoor, a filmmaker and visionary who revolutionized Bollywood, elevating it to new heights by exploring uncharted emotional and social territories. Kapoor wasn’t just a filmmaker; he was a storyteller who touched the souls of the masses and reflected the pulse of post-partition India with unparalleled depth. His films acted as a unifying force in a divided nation, transcending social and cultural boundaries.

Suspicious death of Dalit laborer in BSF custody: A call for justice

By Kirity Roy* The tragic and suspicious death of Mr. Babai Barui, a Dalit daily wage laborer from North 24 Parganas, West Bengal, has raised serious concerns regarding custodial violence and the violation of fundamental rights. Mr. Barui, son of Sukharanjan Barui, resided in Pallishree Sangsad, Bongaon, and was arrested by the Border Security Force (BSF) on November 9, 2024, near the Angrail border on allegations of smuggling. The very next day, he was found dead under mysterious circumstances, with visible injuries that point toward possible custodial violence.

Search This Blog