Data discoveries of the week, presented in charts. This week we look at interesting data about India’s tax collection, global crude oil consumption, global & Indian economy, revenue collection, recession & more. and more.
1. Tax revenue vs. GDP growth: Decoding India’s fiscal performance in the last decade ??
With the tax growth rate higher than GDP growth, India's ?? tax buoyancy remains high, indicating effectiveness & responsiveness of revenue mobilisation ??#ChartOfTheDay #IncomeTaxFiling #GDP pic.twitter.com/cBxfp3VlbN
— Kuvera (@Kuvera_In) July 25, 2023
2. States with highest contribution to direct taxes?
?? Govt. collected direct taxes of ₹14,12,422 crores in FY 2021-22. Here are the top 5 contributing states ??#ChartOfTheDay #IncomeTaxFiling pic.twitter.com/5w7j3lS0MA
— Kuvera (@Kuvera_In) July 26, 2023
3. India’s direct taxes collection in the past decade ??
Tax season is upon us! Let's look at India's y-o-y direct tax collection trends below??. Collections for FY 2022-23 show a continued strong growth momentum?#ChartOfTheDay #india #incometaxfiling pic.twitter.com/c2VO7uzii0
— Kuvera (@Kuvera_In) July 24, 2023
4. Income wise break up of India’s tax payers
Number of taxpayers by income brackets in India from FY 2015 to 2021 ??#ChartOfTheDay #IncomeTaxFiling pic.twitter.com/acQKgrtnwj
— Kuvera (@Kuvera_In) July 27, 2023
5. World’s largest rice producer ??
Visualizing the World’s Biggest Rice Producers ?https://t.co/HktiyY3O7N pic.twitter.com/2If6dnhIGi
— Visual Capitalist (@VisualCap) July 26, 2023
6. The #Naukri job index shows job growth in India could be slowing down.
Overall #India #employment trends seen through the #Naukri job index appears to be witnessing some moderation. Note base effects are largely at play. pic.twitter.com/OPZBxmlzIX
— Arjun G Nagarajan (@arjungn80) July 26, 2023
7. Debt burdens of states vis-a-vis spends on development ?
How is debt affecting state finances?
Interest payment is the largest share of non-development expenditure by Indian states. Compared to their development spending, some states have alarming levels of debt burden – Kerala, West Bengal & Punjab. Read more:https://t.co/iAPCQhXOJg pic.twitter.com/WAQoJcLS2n— Prof. Shamika Ravi (@ShamikaRavi) July 27, 2023
8. India has the world’s 4th largest Defence budget. ?? Here are the others on the list ?
Mapped: World’s Top 40 Largest Military Budgets ?https://t.co/6xxjBPal8d pic.twitter.com/CJ7KGPfK6O
— Visual Capitalist (@VisualCap) July 25, 2023
9. Global crude oil consumption is at an all time highs ?️
The world is consuming a record amount of crude, despite talk of shifting away from the fuel. "We use enough crude to fill about 6,500 Olympic-size swimming pools every day:" @JavierBlas https://t.co/hJtWC8v1iO pic.twitter.com/8zNDB4ESDo
— Lisa Abramowicz (@lisaabramowicz1) July 27, 2023
10. If we go by the R-word index, the possibility of a recession is slim ?
Google searches for "recession" have fallen off a cliff pic.twitter.com/TlH4hvJbrc
— Gunjan Banerji (@GunjanJS) July 28, 2023
11. India’s small-caps defying gravity ??
Small caps -> escape velocity vs gravity pic.twitter.com/40rjViZHaD
— Gaurav Rastogi (@rustapharian) July 25, 2023
12. Historical data to show how controlling WPI impacts corporate profits.
Implications of deflating WPI and Rising CPI
Company profit margins typically improve when WPI non-food inflation falls. Historical data shows that and its currently playing out pic.twitter.com/osL6HQgK2z— Dharmakirti Joshi (DK) (@EconomistDK) July 26, 2023
13. 2023 vs 2000 comparison of GDP per capita of leading sub-Saharan African countries with China and India.
GDP/Capita growth of sub-Saharan Africa’s 4 biggest GDPs, 2023 vs 2000:#Ethiopia +987% (42.9%)*#Nigeria +289% (12.5%)*#Kenya +269% (11.7%)*#SouthAfrica +97% (4.2%)*#China +1,342% (58.3%)*#India +478% (20.7%)*
*Avg annual growth
Data: IMF
Analysis & Table: Fairfax Africa pic.twitter.com/4bZAl6fimX— Zemedeneh Negatu (@Zemedeneh) July 24, 2023
14. Foreign investors are now prioritizing other Asian markets over China, a first in 6 years. China + 1 in action?
Foreign investors are shunning China for other markets in Asia, with inflows surpassing those to the world's second-largest economy for the first time in six years. https://t.co/kEgVCkeVK7 pic.twitter.com/qcsOYswLOy
— Financial Times (@FinancialTimes) July 20, 2023
15. Global oil consumption is now at its highest ever ?
'In the past few weeks, global oil demand has surpassed the monthly peak set in 2019 before the Covid-19 pandemic.' https://t.co/5WUXE5qnLA by @JavierBlas pic.twitter.com/asYTwGTPKF
— Jesse Felder (@jessefelder) July 27, 2023
16. US markets now pricing themselves on the hope of a recovery in earnings.
The market seems to be over its preoccupation with the Fed, no longer pricing itself off the Fed cycle. Instead, it’s pricing in an anticipated earnings recovery. If earnings growth reverts to its historical trend of 6%, at an equity risk premium of 4.2% the market is fairly… pic.twitter.com/6l27fLsB8P
— Jurrien Timmer (@TimmerFidelity) July 25, 2023
17. Filed taxes? Good time to know that the ~2% taxpayer pool in India hasn’t really grown much, according to this ?
Yearly reminder that less than 2% pay taxes and this number isn't growing. Don't go by ITR filed data, that's a vanity metric. While absolute tax collection is rising every year, top 5% of tax payers continue to earn more while rest are stagnant or going down pic.twitter.com/E82ZqpwOzg
— Deepak Abbot (@deepakabbot) July 26, 2023
18. Pilgrimage tourism on the rise in India?
Varanasi sees 8 times the number of tourists as Goa!#PilgrimageTourism pic.twitter.com/1cwX1R3GsU
— AVS (@avs_IND) July 24, 2023
19. Over a couple of weeks, the Dow Jones Industrial Average recorded 13 successive days of daily gains, a record previously set in January 1987.
Just like old times: Dow Jones Industrial Average has now gained for 13 consecutive days, which is longest streak going back to beginning of 1987 pic.twitter.com/Xx7TVYzNsD
— Liz Ann Sonders (@LizAnnSonders) July 27, 2023
20. US energy firms record the largest drop in active rigs in 3 years, which could lead to another threat of inflation due to soaring energy prices.
Energy companies just reported the steepest decline in operating rigs in 3 years.
The lack of urgency among these businesses to boost production is paving the way for another strong rally in oil and gas prices, ultimately creating further upward pressure on inflation. pic.twitter.com/NWSu2RzQR3
— Otavio (Tavi) Costa (@TaviCosta) July 26, 2023
21. Brazil ?? is doing a great job at fixing its current account.
Brazil has no rival in EM when it comes to its trade balance going into surplus. It may disappoint some that this shift hasn't yet led to current account surpluses, but – hey – the current account has already gone from deficits into balance due to this shift. That's huge… pic.twitter.com/K6fAus6xPW
— Robin Brooks (@RobinBrooksIIF) July 27, 2023
22. Meanwhile in Germany, the manufacturing PMI now looks almost as bad as the 2008 Financial Crisis. Recession is looking more and more probable?
You have to go back to the 2008 crisis to find German manufacturing PMIs as bad as current levels (blue). The services PMI has held up better (red), but that also just started rolling over hard. German resilience in 2022 looks like an anomaly that's now giving way to recession… pic.twitter.com/8Jw3qDaPoW
— Robin Brooks (@RobinBrooksIIF) July 25, 2023
23. Also, here’s the comparison between manufacturing PMI for US and the Eurozone.
Difference between the US (lhs) and Euro zone (rhs) is that US manufacturing PMI (blue) has stabilized, while it continues falling sharply for the Euro zone. Services PMI (red) has been more resilient in both places, but that's now showing more weakness in the Euro zone too… pic.twitter.com/Jdq1pk8R18
— Robin Brooks (@RobinBrooksIIF) July 25, 2023
24. The trend of ? home prices in the US
US home prices fell 0.5% over the last year, the largest YoY decline since 2012. pic.twitter.com/6ls4V1EI6f
— Charlie Bilello (@charliebilello) July 25, 2023
25. Two charts that explain why Americans are “really” feeling the heat of interest raise hikes: Exhibit 1 ? The majority of borrowers are locked in at low rates.
Many Americans have locked in ultralow rates on debt like mortgages, auto loans, helping buffer household balance sheets during rising rates
Only 11% of outstanding household debt carries variable interest rates@WSJmarkets @RachelEnsignWSJ https://t.co/UdTE4dpSnO pic.twitter.com/yVHmr8Cg0d
— Gunjan Banerji (@GunjanJS) July 27, 2023
26. Exhibit 2? The Bloomberg US Mortgage-Backed Securities (MBS) Index still has an average coupon of < 3%.
Why is the economy so resilient? One reason: A large swath of the economy has locked in low rates for longer. The Bloomberg MBS index still has an average coupon of under 3%. Family mortgages totaling $13.5 trillion are mostly immune to the Fed’s rate increases. pic.twitter.com/ShlwlXcEkl
— Jurrien Timmer (@TimmerFidelity) July 27, 2023
27. A most interesting chart that explains the astronomical rise of productivity. The trend of workers needed at S&P500 companies to generate $1 million of revenue.
BIG TECH explained! pic.twitter.com/aSKDhcc4pX
— jeroen blokland (@jsblokland) July 27, 2023
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