Source: 
Sagar Media Inc
http://sagarmediainc.wordpress.com/
Date: 
28.10.2013
City: 
New Delhi

On a year-on-year basis, gross bank credit increased by 17.9% in September 2013 as compared to 16.8% in August 2013. Food credit increased by 6.3% in September 2013 as compared with 5.2% in August 2013 and non-food bank credit increased by 18.2% in September 2013 as compared to 17% in August 2013.

 

The credit to NBFCs increased by 26.6% in September 2013 as compared with 18% in August 2013. The credit to agriculture increased by 13.2% in September 2013 as against 12.1% in August 2013.

 

The gross bank credit stands at Rs. 52,969 billion as on September 2013 as compared to Rs.49, 642 billion as on September 2012.

 

  Monthly trend in growth of gross bank credit (%)                                                                                 (YoY)

Source: PHD Research Bureau, compiled from RBI

 

Credit to industry increased by 17.6% in September 2013 as compared to 17.3% in August 2013. The acceleration in credit growth to industry in the month of September 2013 was observed in all the major sub-sectors, barring engineering, construction, glass and glassware and mining and quarrying.

 

The services sector credit increased by 22.1% in September 2013 as compared with 18.4% in August 2013. Personal loans increased by 17.9% in September 2013 as compared with 17.8% in August 2013. Growth in the components of personal loans in September 2013 stood at housing (20%), advances against fixed deposits (17.6%), advances to individuals against shares, bonds, etc. (18.3%), education (8.7%) and vehicle loans (23.1%).

 

  Deployment of Gross Bank Credit by major sectors                                                                                          (Rs. Billion)

Sector

August 2013*

September 2013**

August 2013^

(Y-O-Y growth)

September 2013^^

(Y-O-Y growth)

(%)

(%)

Gross Bank Credit

51991

52969

16.8

17.9

Food Credit

979

949

5.2

6.3

Non-food Credit

51012

52020

17.0

18.2

Agriculture & Allied Activities

6097

6100

12.1

13.2

Industry (Micro & Small, Medium and Large )

23301

23715

17.3

17.6

Services

12050

12553

18.4

22.1

Personal Loans

9564

9653

17.8

17.9

Priority Sector

16326

16445

16.6

17.6

Source: PHD Research Bureau, compiled from RBI

Note: Data are provisional and are collected on a monthly basis from select 47 scheduled commercial banks accounting for  about 95% of the

 total non-food credit deployed by all scheduled commercial banks;

  * Data pertains as on August 23, 2013, ** Data pertains as on September 20, 2013, ^Data pertains as on August 23, 2013 over August 24, 2012

^^ Data pertains as on September 20, 2013 over September 21, 2012

 

 

Warm regards,

 

Dr. S P Sharma

Chief Economist


 

Political parties spent Rs 136.88 crores in 2008

28102013

Political parties spent Rs 136.88 crores during the elections to 
                                   MP, Delhi, Chhatisgarh, Mizoram, Rajasthan and J&K in 2008
 
- BJP has declared that the party did not spend any money on publicity or travel or other expenses during the 6 Assembly Elections
- INC has the declared the maximum amount of Rs 102.56 crores as expenditure incurred during the 6 Assembly elections
NCP is the only national party to not submit its expenditure statement to the ECI
- Jammu & Kashmir National Conference is the only regional party to submit its expenditure statement to the ECI
- Total expenditure of national and regional parties: Rs 136.88 crores
 

·         Political parties are required to submit a statement of election expenditure to the Election Commission within 75 days of completion of Assembly Elections

·         The expenditure statement contains details of the total amount received as funds in the form of cash, cheques and Demand Drafts and the total amount spent under various heads

·         The expenditure statement contains information on the amount spent on various heads at the state, district and constituency levels by the party

·         Expenditure is declared under the following heads:

o   Publicity

o   Travel expenses

o   Other expenses

o   Travel expenses of leaders and workers

o   Miscellaneous expenses

·         Political parties submit these statements providing information of funds collected and spent from the date of announcement of elections to the date of completion of elections, which could be between 3 weeks and 3 months based on the notification issued by the Election Commission.

·         This report analyses the funds received by the political parties, during the election period of 79 days (14-10-2008 to 31-12-2008)

    National Parties: Funds Collected and Expenditure Incurred

o   National Parties considered for the report: INC, BJP, BSP, NCP, CPI, CPM

o   NCP is the only national party which has not submitted its expenditure statement to the Election Commission

o   Number of days within which the funds were collected and spent: 79 days (14-10-2008 to 31-12-2008)

o   Total funds collected by the national parties during the assembly elections: Rs 182.12 crores

o   Total expenditure incurred by the national parties: Rs 135.52 crores

Regional Parties: Funds Collected and Expenditure Incurred

o   Regional Parties considered for the report: JKNC, JKNPP, RJD, AIFB, JD(S), JD(U), RLD, Shiv Sena, SP, CPI(ML)(L), JMM, RSP, ZNP, MPC, INLD

o   Of the above 14 regional parties which contested in at least one assembly election of the 6 considered, only JKNC has submitted its election expenditure statement to the Election Commission*

o   Total funds collected by JKNC: No funds collected

o   Total Expenditure incurred by JKNC: Rs 1.36 crores

Funds Collected and Expenditure Incurred in Cash and Cheque

o   93.43% of the total funds received by INC during election period was by cash (Rs 81.92 crores) while 85.60% of the total funds received by BJP was by cash (Rs 14.44 crores)

o   100% BSP’s funds of Rs 76.20 crores was collected in cash

o   Unlike the funds collected, the parties’ preferred mode of expenditure is by cheque/DD, according to the statements submitted

58.29% of the total expenditure of INC was by cheque/DD (Rs 59.78 crores) while 98.74% of the total expenditure of BJP was by cheque or DD (Rs 25.17 crores) 

Recommendations of ADR

o   A format similar to the donations report along with date of donations, submitted to the ECI on an annual basis, has to be prescribed for the expenditure statement so as to bring in more transparency in the finances of the political parties especially during elections when it is said that black money plays a major role

 

o   All political parties must submit their statements of expenditure in the format given by the ECI including details of expenditure at the state, district and constituency levels

 

o   Similar to the shadow observers of the ECI for monitoring expenditure of candidates, there must also be observers for monitoring the expenditure of political parties

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