The News Caravan

Tag: Oct

  • Five Year Term Of SMC, JMC and Other ULBs To End In Oct- Nov

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    SRINAGAR: The five-year term of urban local bodies in Jammu and Kashmir would end in October- November this year, officials said.

    Quoting an official, KNO reported that Srinagar Municipal Corporation, Jammu Municipal Corporation, Municipal Councils and Committees of the Union Territory would complete their five-year term later this year.

    “The Srinagar Municipal Corporation would complete its term on November 05, 2023 while Jammu Municipal Corporation’s term would end on November 14, 2023,” he said, adding that the five  year term of an ULB is counted from the day of their first meeting.

    The first meeting of SMC was held on November 6, 2018 and that of JMC on November 15, 2018. Juniad Azim Mattu and Chander Mohan Sharma were elected as mayors of SMC and JMC after ULB elections, respectively.

    According to the official, the five-year term of municipal Councils and Committees would also come to end in October- November this year.

    The last urban local bodies polls were held in four phases in October 2018 during Governor’s rule in the erstwhile state of Jammu & Kashmir. While voter turnout remained impressive in Jammu region, only 3.1 percent of the eligible electorate exercised their voting rights in Kashmir.

    Only 31541 votes were polled in the valley against the total electorate of 1032498.

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    ( With inputs from : kashmirlife.net )

  • India’s Exports Fell 17% To $29.78 Bn In Oct, Trade Deficit Widens To $26.91 Bn

    India’s Exports Fell 17% To $29.78 Bn In Oct, Trade Deficit Widens To $26.91 Bn

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    India’s exports fell 17% to $29.78 billion in October, while its trade deficit increased to $26.91 billion.

    According to data released by the commerce ministry on Tuesday, the country’s overall outbound shipments decreased by 16.65% to $29.78 billion in October as a result of a decline in some sectors’ merchandise exports, and the merchandise trade deficit increased to $26.91 billion from $25.71 billion the previous month, news agency PTI reported.

    The report showed that imports for the month totaled $56.69 billion, compared to $53.64 billion in October 2021.

    This year, from April to October, exports increased by 12.55 percent to $263.35 billion. Data show that imports increased 33.12% to $436.81 billion.

    Between September 2022 and October 2022, both merchandise exports and imports slowed sequentially, which, in our opinion, was caused by more holidays associated with the holiday season.

    In spite of the significant YoY decrease in the merchandise exports statistic, the trade deficit worsened in MoM terms during this time, albeit not alarmingly, according to ICRA Chief Economist Aditi Nayar who was quoted by Livemint.

    When compared to November 2021, which had a later start to the holiday season, the sequential trend of exports in October 2022 is similar to what was observed in November 2021.

    Given the current global demand issues, Nayar continued, “At this point, we anticipate some recovery in exports and imports in November 2022 relative to October 2022, albeit it may not be as substantial as the pattern seen in November and December of 2021.

    (With inputs from agencies and more)


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