TRENDS
MC Daily Monsoon Tracker: Over a fourth of states still rain deficient
Chandigarh and Manipur continue to be the hardest hit, with a deficit of more than over 50 percent
BUSINESS
UPI transaction value stays above Rs 20 lakh crore for 3rd straight month in July
Growth in UPI transactions remains in double digits
BUSINESS
Manufacturing activity eases to 58.1 in July, experts foresee pickup in capex utilisation soon
The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index remained higher than the long-term average
BUSINESS
Core sector output eases to 4% in June; Q1FY25 growth lower at 5.7%
The Economic Survey pegged growth at 6.5-7 percent for FY25
BUSINESS
Fiscal deficit narrows to 8% of the full year estimate in Q1FY25
The government reduced the fiscal deficit target for FY25 to 4.9 percent of the GDP compared with 5.1 percent
BUSINESS
Economic Survey’s 7.9 million non-farm jobs target is easily achievable: MC Analysis
One worry is people switching back to agriculture — in FY23, the farm sector employed more people than it did over the past 17 years
TRENDS
MC Daily Monsoon Tracker: Rainfall deficit hits 10 states, despite India getting surplus downpour for 8 days
India rainfall surplus eases further to 2.04 percent above normal rainfall as of July 30 compared with 2.26 percent the previous day
BUSINESS
Capex now top priority for the government: MC Analysis
As capex spends by govt have gone up, education and health have not kept up
BUSINESS
How many Agniveers can states absorb amid 600,000 police vacancies?
States and central police forces recruited nearly a lakh people in 2021. A 10 percent quota for Agniveers in the state police forces, if implemented in earnest, can help plug some of the gap.
TRENDS
MC Daily Monsoon Tracker: 17 states receive normal rainfall, kharif sowing largely unchanged
India received 2.26 percent above normal rainfall as of July 29
BUSINESS
Southern states show the way on growth and poverty reduction
States like Andhra Pradesh, Tamil Nadu and Telangana were more successful in poverty reduction because of growth. While UP, Bihar and Madhya Pradesh made substantial reductions too. While Punjab’s slow per capita income growth between FY16 and FY23, has slowed poverty alleviation
TRENDS
MC Daily Monsoon Tracker: Kharif sowing just 2% higher as rains remain uneven
India received surplus rainfall for a sixth straight day on July 28, IMD data shows, but the spread continues to be uneven
BUSINESS
Flavour of department has changed from enforcement to taxpayer centric: CBDT chairman
Multiple litigations were not leading us anywhere, the procedures have been standardised, the chairman said.
TRENDS
MC Daily Monsoon Tracker: Rainfall surplus increases for fourth straight day
Ten states and union territories are experiencing a rainfall deficit
BUSINESS
India has high tax-to-GDP ratio given its per capita income: Revenue secretary
Formalisation would lead to increase in tax base and tax net, the revenue secretary said
BUSINESS
Core inflation decline may not be such a good thing: Economists
India’s services inflation declined 2.67 percent in June, its lowest level since 2011
BUSINESS
Mineral royalty revenue jumps 32% for states during FY17 to FY22
Odisha and Chhattisgarh have witnessed a 47% surge in revenues from mining
TRENDS
MC Daily Monsoon Tracker: Reservoir levels improve; rainfall surplus increases
Good spell of rain helps bring down reservoir level deficit to 4 percent below normal
BUSINESS
Formal employment picks up in May; new subscribers to EPF, ESIC rise
Subscriptions to the Employees’ State Insurance Scheme, which caters to relatively lower paid employees, jumped 40 percent to 1.7 million
BUSINESS
Labour and skill ministries' spend to double from previous decade
A major boost is expected to go towards skill development, where spending over the next half a decade is expected to 5.2 times higher than what was spent between FY16 and FY24
BUSINESS
Govt focused on becoming a more privatised economy: DIPAM Secretary on PSE policy timeline
Timeline of PSE policy has been moved up. Green initiatives by public companies can lead to IPOs by their subsidiaries if they reach a certain size
BUSINESS
PSU mergers overhyped; HR issues will lead to problems: DIPAM Secretary Tuhin Kanta Pandey
Mergers in the PSU space come with human resource management issues, in many cases, notes Pandey, it could lead to insurmountable problems.
BUSINESS
New real estate tax rules: who gains and who loses?
New real estate tax rules: Of the 20 scenarios analysed by Moneycontrol, taxpayers will face an additional tax burden under the new regime in 14 scenarios, while in 6, homeowners will benefit under the new rules
TRENDS
MC Daily Monsoon Tracker: India stays rainfall surplus for 2nd consecutive day
Rainfall surplus further improves to 1.31% as of July 24
