Indian commerce ministry data shows imports in October stood at $65.03 billion, exports were $33.57 billion. At $60 billion for April-October 2023, Chinese imports double that of Russia’s.
Data reveals that most of rise in imports is on account of 'input goods' or capital goods. Import of electronics, electrical machinery & their parts is up by 37% from last year.
Under the RoDTEP, various central and state duties, taxes, and levies imposed on input products would be refunded to exporters and govt has set aside Rs 12,454 crore for refunds.
The commerce ministry said that India's imports in June 2021 grew by 96.33% to $41.86 billion from $21.32 billion last year and thus India is currently a net importer.
Exports of sectors such as engineering, gems and jewellery and petroleum products recorded healthy growth rates. During the same period, imports too rose by 98.33% to $19.59 billion.
Peter Manuel's ‘Cassette Culture’ showed the booming Bhakti music during the '80s and '90s when Anoop Jalota, Gulshan Kumar achieved success by singing the sanitised Bhajans.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
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