BUSINESS
Rural poverty falls below 5% for the first time in FY24
In urban areas, the decline was less pronounced at 4.09 percent in 2023-24 compared with 4.6 percent in the previous year
BUSINESS
MoSPI to start annual unemployment, health surveys from January
As part of these changes, the government plans to release monthly unemployment data for both rural and urban areas, an addition to the existing monthly releases of industrial production, consumer inflation, and social security scheme enrollments.
BUSINESS
Economy sputters in Q3, as data throws mixed signals
Goods and Services Tax collections remained above Rs 1.7 lakh crore mark for the tenth month in a row in December, but the pace of growth declined further to 7.3 percent.
BUSINESS
Crop insurance is growing, but also needs to become more inclusive
A Moneycontrol analysis shows that the share of marginal farmers enrolled for the schemes has declined over seven years
BUSINESS
Working group set up for Wholesale Price Index revision, mapping roadmap for new series
The Niti Aayog member Ramesh Chand-led working group will also recommend changes to the price collection mechanism and computational methodology
BUSINESS
Manufacturing PMI slips to a 12-month low of 56.4 in Dec
The HSBC India Manufacturing Purchasing Managers’ Index declined to 56.5 in November, compared with 57.5 the previous month.
BUSINESS
December GST collections rise 7.3% YoY to Rs 1.77 lakh crore
GST collections stood at Rs 1.65 lakh crore in the year-ago period
BUSINESS
UPI transaction value stays above Rs 20 lakh crore for 8th straight month in Dec
Volumes at 16.73 billion hit their highest mark. Daily transaction value also rises from the previous month
BUSINESS
India’s core sector growth rises to four-month high of 4.3% in November
Industrial production had increased to a three-month high of 3.5 percent in October, helped by the festive season push
BUSINESS
India's April-November fiscal deficit at Rs 8.5 lakh crore or 52.5% of FY25 target
Despite a pickup, capex spending was at 46.2 percent of the budgetary goal of Rs 11.1 lakh crore, compared with 58.5 percent spent during the April-November period last fiscal
BUSINESS
Arts and antiques in vogue for aesthetic Indians, imports surge 62% in 2024
Antiques saw the highest increase in imports, with India importing $79 million products in the first 10 months of 2024, clocking a 376 percent surge over the previous year. Paintings were the main draw
BUSINESS
Govt to adopt new approach to track cost overruns: Sources
The new system is expected to standardise how cost overruns are calculated across ministries
BUSINESS
Telangana and AP give more via social welfare programmes than Bihar, UP and Jharkhand
The impact of social welfare programmes on consumption was higher in Telangana, with imputed value of consumption 4.4 percent higher in rural areas than household spending without freebies, while UP’s consumption was much lower at 2.8 percent
BUSINESS
Australia-India trade has become more diversified since trade agreement in 2022: MC Analysis
The share of top 10 exported goods from India to Australia came down to 63.5 percent in the first 10 months of 2024 compared with 68.6 percent in 2022, prior to the agreement’s signing in December 2022
BUSINESS
Urban-rural gap reduced in 21 of 36 states and union territories in 2023-24
Maharashtra witnessed the slowest rise in consumption among the larger states with just a 3.4 percent rise in household budget in urban areas
BUSINESS
Households spend more on food in 2023-24, but its share remains below 50%
Rise in spending could be attributed to higher food inflation over the past year. This is also evident from the decline in monthly per capita consumption of cereals in both urban and rural areas, even as the share of cereals in household spending rose
BUSINESS
Consumption inequality reduced further in 2023-24: HCES survey
In the case of rural areas, while consumption spending rose 22.1 percent for the lowest 0-5 percent of the households, incomes of the top 95 percent shrunk by 3.5 percent
BUSINESS
Trump years were better for Indian H-1B and citizenship applicants: MC Analysis
The four years that Trump held office witnessed the highest number of H-1B visas approved for Indians and the maximum rate of naturalisations of Indian citizens during the last sixteen years
BUSINESS
Four charts explain how the 1991 Budget by Manmohan Singh transformed Indian economy
India’s compounded annual growth rate hasn’t dipped below 4 percent since 1991 reforms
BUSINESS
Formal sector employment dips for a third consecutive month in November
New entrants to EPF, ESIC dipped in the festive month of October, according to data from the Ministry of Statistics and Programme Implementation
BUSINESS
India could escape the ire of Tramp tariffs; exports to the US attract higher duties than others
About 72.6 percent of Indian products exported to the US attract a tariff of 5 percent or less, compared to 74.5 percent of Chinese exports, 78.5 percent of Indonesian exports, and 99.97 percent of Mexican exports, shows Moneycontrol analysis.
BUSINESS
Data from GST, Vahan, eGram to be used for making new GDP series in 2026
The government is trying to expand the coverage of administrative statistics to better track the economy
BUSINESS
Survey of unincorporated sector may shift to calendar year cycle from 2025
ASUSE tracks the performance of establishments not covered under the Companies Act from the October-September period. The 2023-24 report shows an increase of 8 million enterprises and over 10 million jobs from the previous round
BUSINESS
India’s unincorporated sector added 8 million more establishments, 10 million more workers in 2023-24
ASUSE data shows a 12.8 percent increase in establishments and a 10 percent increase in employment during this period
