Statistics_India📊

Payroll reporting in India: An Employment Perspective—January to April, 2024 has been released by Ministry of Statistics and Programme Implementation on June 25, 2024. The report has been compiled using the EPF, ESI, and NPS data from EPFO, ESIC, and PFRDA, respectively. For the month of April, 2024, the new subscribers under EPF, ESI and NPS are 8,87,438, 12,04,798 and 1,10,665 respectively. "The full report may be accessed at the following link:

MoSPI celebrates 18th Statistics Day. 3 Days to go! #DataforDevelopment #Mospi

✓✓ Concept of Liquidity Trap Liquidity trap refers to a situation in which an increase in the money supply does not result in a fall in the interest rate but merely in an addition to idle balances: the interest elasticity of demand for money becomes infinite. Under normal conditions an increase in money supply, resulting in excess cash balances, would cause an increase in bond prices, as individuals sought to acquire assets in exchange for money, and a corresponding fall in interest rates. In such a situation, described by Keynes as liquidity trap, individuals believe that bond prices are too high and will therefore fall, and correspondingly that interest rates are too low and must rise They, therefore, believe that to buy bonds would be to incur a capital loss and as a result they hold only money. This means that an increase in the money supply merely increases idle balances and leaves the interest rate unaffected. ✓✓ Keynes pointed out that during depression when the rate of interest is very low, the demand curve for money (or the liquidity preference curve) becomes completely elastic (horizontal). The rate of interest has fallen enough. It cannot fall further. The horizontal portion of the liquidity preference curve is referred to as the liquidity trap. In this portion of the curve, the demand for money is infinitely elastic with re­spect to the interest rate. Re­ductions in the interest rate, in this portion only, increases people’s desire to hold cash balances. The implication here is that any attempt to achieve the internal expansion through increased investment brought about by lowering the interest rates would fall, because any increase in the money supply created in order to reduce the rate of interest would be held in the form of cash balances, making it impossible to use interest rates (monetary policy) to expand the economy. See Fig. 7 which describes such a situation. ✓✓ Keynes pointed out that the actual rate of interest cannot fall to zero because the expected rate cannot fall to zero. People’s expectations play a very important role in altering the rate of interest. Individuals’ views on the level of bond prices may be summarised in terms of their views about the interest rate. Keynes’ theory assumes that each individual has his own view about the long-run equilibrium interest rate and that there corresponds to this a critical rate below which are individual holds only money and above which he holds only bonds. Clearly, if everyone is holding money as each one is in the liquidity trap then the current interest rate must be below the lowest critical rate situation. However, in practice, there is no statistical evidence to support the existence of a liquidity trap. Furthermore, while the hypothesis rests on the view that expectations are regressive it offers no theory of precisely how these are formed. #education #economics #economy #grandecosociety

Findings on AYUSH Usage: 46% of rural and 53% of urban Indians used Ayush for prevention or treatment of ailments in the past 365 days. Discover more about traditional healthcare systems in the factsheet of the survey on “Ayush” at www.mospi.gov.in

Insights from the results of the “AYUSH Survey” by NSSO, MoSPI! About 95% of rural and 96% of urban Indians are aware of Ayush. For more details, visit www.mospi.gov.in

✓ The Fisher equation and it's application The Fisher equation expresses the relationship between nominal interest rates and real interest rates under inflation. Named after Irving Fisher, an American economist, it can be expressed as real interest rate ≈ nominal interest rate − inflation rate. In more formal terms, where r equals the real interest rate, i equals the nominal interest rate, and π equals the inflation rate, the Fisher equation is r = I - π It can also be expressed as ; (1 + i) = (1 + r)(1 + π) ✓ Let's consider an application of the Fisher equation in the context of borrowing. Suppose you want to take out a loan for $10000 with a nominal interest rate of 5% per year. If the expected inflation rate is 2% per year we can use the Fisher equation to calculate the real interest rate. Nominal Interest Rate = Real Interest Rate + Inflation Rate 5% = Real Interest Rate + 2% To isolate the real interest rate we subtract 2% from both sides of the equation: 5% - 2% = Real Interest Rate Therefore the real interest rate is 3%. This means that after adjusting for inflation the real interest rate on the loan is 3%. So if inflation remains at 2% per year you would need to earn a return of at least 3% on your investment or project to be able to repay the loan and still make a profit. On the other hand if you were a lender the Fisher equation would help you determine the nominal interest rate to charge on the loan to ensure you are adequately compensated for the real interest rate and expected inflation. By adjusting the nominal interest rate based on inflation expectations lenders can protect their purchasing power and ensure a fair return on their lending. In summary the Fisher equation is a useful tool to analyze the impact of inflation on borrowing and lending. It allows borrowers and lenders to consider the real interest rate and adjust for inflation to make informed financial decisions. #education #economics #economy #grandecosociety #mondaymotivation

#MoSPI unveils the results of first exclusive all-India survey on ‘AYUSH’ conducted by the National Sample Survey Office (NSSO) from July 2022 to June 2023 as part of the 79th round of NSS. The survey aimed to gather insights on awareness and use of traditional healthcare systems, including home remedies & medicinal plants. Read more: https://mospi.gov.in/sites/default/files/publication_reports/Fact_sheet-Survey_on-Ayush.pdf