India claims no breach of permissible farm subsidies limit

Around USD 22.8 bln input subsidies provided in FY14

by Natasha Nadkar

India has informed the World Trade Organisation (WTO) that it has not breached the permissible farm subsidy limit between 2011-12 and 2013-14. Since India had not notified its farm subsidies since 2003-04 to the WTO, it has also updated its farm subsidies’ information for six years from 2004-05 to 2010-11. Developed countries had earlier raised concerns about India’s rising farm subsidies and non-compliance with the WTO rules. The Indian government has clarified that the fertiliser, irrigation and power subsidy fell to USD 22.8 billion in FY14 from USD 29.1 billion in FY11. India provided USD 18.3 billion non-trade distorting subsidies in FY14 which are significantly lower than USD 24.5 billion in FY11. The level of subsidy was within the allowed limit of 10 per cent of the market value of total production. Around USD 14.7 billion was spent on public stock-holding in FY14 as against USD 13.8 billion in FY11.

References
1. http://economictimes.indiatimes.com/news/economy/policy/no-breach-of-farm-subsidy-limits-india-tells-wto/articleshow/59623742.cms
CMIE STATISTICS
Unemployment Rate
Per cent
5.6 -0.0
Consumer Sentiments Index
Base September-December 2015
95.8 +0.4
Consumer Expectations Index
Base September-December 2015
93.9 +0.6
Current Economic Conditions Index
Base September-December 2015
98.7 0.0
Quarterly CapeEx Aggregates
(Rs.trillion) Dec 16 Mar 17 Jun 17 Sep 17
New projects 2.33 3.79 2.06 0.99
Completed projects 1.01 1.94 1.14 0.99
Stalled projects 1.13 0.70 2.66 0.64
Revived projects 0.18 0.67 0.30 0.22
Implementation stalled projects 0.82 0.33 0.67 0.61
Updated on: 19 Nov 2017 4:20PM
Quarterly Financials of Listed Companies
(% change) Dec 16 Mar 17 Jun 17 Sep 17
All listed Companies
 Income 6.2 10.2 9.9 8.6
 Expenses 6.3 11.9 10.1 9.9
 Net profit 40.3 15.7 -19.1 -17.9
 PAT margin (%) 6.1 6.0 5.4 6.0
 Count of Cos. 4,507 4,438 4,288 2,716
Non-financial Companies
 Income 5.9 11.8 10.6 8.6
 Expenses 7.2 15.6 10.8 8.6
 Net profit 24.5 -2.5 -24.4 -5.0
 PAT margin (%) 6.2 6.2 5.3 6.9
 Net fixed assets 6.9 10.0
 Current assets 2.6 2.1
 Current liabilities 8.8 9.9
 Borrowings 4.8 4.1
 Reserves & surplus 6.2 8.1
 Count of Cos. 3,488 3,439 3,340 1,982
Numbers are net of P&E
Updated on: 19 Nov 2017 4:29PM
Annual Financials of All Companies
(% change) FY14 FY15 FY16 FY17
All Companies
 Income 10.0 5.2 1.1 6.6
 Expenses 9.9 5.2 1.2 6.8
 Net profit -2.2 1.6 -12.9 20.2
 PAT margin (%) 3.2 3.2 2.9 6.5
 Assets 12.3 9.4 9.6 8.8
 Net worth 9.6 8.7 10.3 8.5
 RONW (%) 6.2 6.1 5.1 9.6
 Count of Cos. 23,895 23,579 20,184 3,629
Non-financial Companies
 Income 9.7 4.3 0.1 6.5
 Expenses 9.3 4.5 -0.6 7.4
 Net profit -2.7 -5.5 11.5 14.3
 PAT margin (%) 2.2 2.1 2.6 6.5
 Net fixed assets 11.6 13.4 15.1 7.3
 Net worth 8.2 7.1 10.6 7.2
 RONW (%) 5.1 4.9 5.4 11.0
 Debt / Equity (times) 1.1 1.1 1.1 0.6
 Interest cover (times) 2.0 1.9 2.0 3.7
 Net working capital cycle (days) 69 67 66 50
 Count of Cos. 19,154 19,053 16,707 2,782
Numbers are net of P&E
Updated on: 15 Nov 2017 2:29PM

Data added for HPI at Assessment prices and HPI at Market prices