From GST assortment to automotive gross sales, macro knowledge indicators regular restoration

GST mop-up rises 7% to Rs 1.13 trillion in Feb

Items and companies tax assortment surpassed the Rs 1 trillion-mark for the fifth consecutive month, touching Rs 1.13 trillion in February, in line with provisional knowledge launched by the federal government on Monday. The sturdy mop-up might partially be attributed to the federal government’s drive towards GST evaders and pretend payments, aside from tightened compliance measures and total enchancment within the economic system. GST assortment grew seven per cent over the corresponding interval final yr, when it was Rs 1.05 trillion, and was partially decrease than the report of Rs 1.19 trillion achieved in January, knowledge launched by the Ministry of Finance confirmed. Collections posted progress for the sixth consecutive month. Learn extra…

Manufacturing PMI eases barely to 57.5

Progress in manufacturing exercise eased a bit in February in comparison with the earlier month but it surely remained at an elevated stage, confirmed a widely-tracked survey on IHS buying managers’ index (PMI). PMI inched all the way down to 57.5 in February from 57.7 in January. In PMI parlance, a studying above 50 is progress and beneath it’s contraction. Though easing from January, the tempo of progress remained sharp within the context of historic knowledge, mentioned a commentary related to the discharge of knowledge. Learn extra…

Auto gross sales decide up tempo however trade cautious

Rising gas costs didn’t put the brakes on the restoration in automotive gross sales, however trade executives warned {that a} continued rise in petrol and diesel costs might influence sentiment quickly. “The rising choice for private mobility continues to be driving automotive gross sales and we noticed that within the month-to-month gross sales numbers of February. Nevertheless, there may be prone to be an influence if gas worth continues to rise,” mentioned Naveen Soni, senior vice-president of Toyota Kirloskar Motors (TKM). Learn extra…

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