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1.
REVERSING A declining trend from over a decade, the share of food in monthly expenditure of households in rural as well as urban areas went up in 2023-24, according to the Household Consumption Expenditure Survey (HCES) 2023-24 fact sheet released by the Ministry of Statistics and Programme Implementation (MoSPI). This probably reflects the impact of higher food prices; given that the figures are in nominal terms, the share of food in the consumption basket of rural households went up to 47.04 per cent in 2023-24 from 46.38 per cent in 2022-23, while that for urban households inched higher to 39.68 per cent in 2023-24 from 39.17 per cent in the previous year.
2.
THE PRIME Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) received Rs 912 crore in contributions during the financial year 2022-23 as donations continued to pour in even after the Covid pandemic. The PM CARES Funds received Rs 909.64 crore as voluntary contributions and Rs 2.57 crore as foreign contributions during 2022-23, the latest year for which audited accounts are available in the public domain. It also received about Rs 225 crore in form of refunds from various sources, including refund (Rs 202 crore) from procurement of 50,000 'Made in India' ventilators to government hospitals run by the Centre/States/UTs.
3.
MORE THAN two million Indians travelled to the United States in the first eleven months of 2024 -a 26 per cent increase over the same period in 2023. As per statistics shared by the US Embassy in New Delhi, over five million Indian citizens have non-immigrant visas to visit the US. The US mission also said it has issued more than one million non-immigrant visas for the second year in a row. The US mission to India is sued tens of thousands of immigrant visas, facilitating legal family reunification and the migration of skilled professionals, according to the readout. These immigrant visa holders became permanent residents upon their arrival, adding to the already rich and sizable Indian diaspora community in the US, it said.
4.
MANMOHAN SINGH'S REFORM legacy, mainly as Finance Minister in the Narasimha Rao-led government, was about liberalisation and globalisation. These entailed delicencing and opening up of most sectors to private players, dismantling price, exchange rate and import controls, and removing barriers to foreign investment (direct as well as portfolio), technology collaborations or raising monies from both domestic and international capital markets. It was about "letting the private sector in". The rupee's two-step devaluation, the unveiling of a New Industrial Policy and the 1991-92 Union Budget were nothing short of an economic revolution that upended the old dirigiste regime.
5.
THE COUNTRY'S current account deficit (CAD) moderated marginally to $11.2 billion, or 1.2 per cent of gross domestic product (GDP), in July-September 2024 quarter from $11.3 billion, or 1.3 per cent of GDP, in the same period of the previous fiscal. During April-September period (H1 FY2024-25), the current account deficit was $21.4 billion (1.2 per cent of GDP) as compared with $20.2 billion (1.2 per cent of GDP) in H1 of 2023-24, the Reserve Bank of India (RBI) data showed.
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