BUSINESS
Internet usage jumps in informal sector companies: Govt data
Internet usage by the informal sector for taking and placing orders, using UPI increased by almost 50% in 2022-23
BUSINESS
Budget 2024: Govt has outspent its initial budget allocation on MGNREGA by 30% over the last decade
The divergence between the actual spending and initial budgets has increased post-Covid. The increase in outlay has also happened irrespective of agriculture output for the year.
TRENDS
MC Daily Monsoon Tracker: Rainfall deficit narrows further to 3%
Chandigarh is the only region in the country with over 50 percent rainfall deficit
BUSINESS
Bad idea to include petroleum in GST, says former chief economic advisor Arvind Subramanian
Absorb cess in regular rate structure so that it is available for redistribution, former CEA argues
BUSINESS
Budget 2024: Spending on pension declined in FY24, likely to fall further
The current pension bill at 5.3 percent starkly contrasts with 2.1 percent of the budget spent on pensions in 1990-91 and 4 percent at the turn of the 21st century.
TRENDS
MC Daily Monsoon Tracker: These thirteen states are facing rainfall deficit
Rainfall deficit further narrowed to 4.4% on July 3
BUSINESS
India could grow over 8% if it resolves infra bottlenecks: S&P analyst
Reduction in fiscal deficit will have to be largely driven by the central government. A reduction in fiscal deficit an lead to an upgrade in rating
BUSINESS
18 major states to see up to 10% jump in revenue in FY25: Crisil
Indian states’ revenue grew 7.5 percent in the previous fiscal
BUSINESS
Service activity rises to 60.5 in June on spate of fresh orders, growth in overseas sales
The 400 services firms surveyed for the index noted a further rise in export orders, with growth coming from Asia, Australia, Europe, Latin America, the Middle East and the US
BUSINESS
Budget 2024: Health spending remains unchanged at 0.3% over a decade
Health capex has also remained unchanged, averaging 3.7 percent between FY22 and FY24. This year, however, capex in health is expected to see an increase.
TRENDS
MC Daily Monsoon Tracker: These ten states are facing excess rainfall
Rainfall deficit further narrowed to 4.6% on July 2
TRENDS
MC Summer Dashboard: Power situation improves, rainfall deficit falls below 5%
India’s energy shortage remains below 1 million units
BUSINESS
India’s debt high, but sustainable, NCAER Director General Poonam Gupta says
Debt levels of states are expected to increase further, but will remain sustainable.
BUSINESS
Opening up trade while fixing domestic policy still best option for countries, says 16th FC chairman Arvind Panagariya
If India wants to do China plus one, it should double down on trade and investment reforms, says World Bank South Asia VP
BUSINESS
MC Analysis: MP, Maharashtra biggest GST gainers in post-Covid period
Share of states’ own tax revenues in overall tax revenues increased to 65.4 percent in the post-Covid period from 62.8% between FY16 and FY17, says RBI study
BUSINESS
Budget 2024: Middle-class housing scheme to follow interest subvention model
State-run housing finance company HUDCO to be one of the nodal agencies for the scheme
TRENDS
MC Summer Dashboard: Power situation improves, rainfall deficit narrows
Bihar was the only state facing an energy shortage. It is also among the four states with an over 50% rainfall deficit
TRENDS
MC Daily Monsoon Tracker: Rainfall deficit narrows to single digits
Andhra Pradesh, Tamil Nadu are among four states with over 50 percent rainfall surplus
BUSINESS
Economy humming in Q1FY25, shows data
GST mop up 10 percent higher, coal production 10.6 percent higher and manufacturing PMI at 58.2 in the first quarter
BUSINESS
GST collections rise nearly 8% YoY to Rs 1.74 lakh crore in June: Sources
The collections totalled Rs 5.57 lakh crore in the first quarter of the year, averaging Rs 1.86 lakh crore per month, said sources
BUSINESS
UPI transactions value in June stays above Rs 20 lakh crore for the second month running
Average transaction volume higher than the previous month
BUSINESS
7 years of GST: A revenue boost for Centre and States
A data analysis shows that GST has led to increased revenue buoyancy for the centre and states. States have witnessed a jump of nearly 3 percentage points in own tax revenue ratio from pre-GST era. Experts say that GST 2.0 should now focus on further rationalization of rates and removal of input tax credit restrictions
BUSINESS
Manufacturing activity rises to 58.3 in June
Employment levels rise at the fastest pace in over 19 years, as demand pushes new orders and output
BUSINESS
Revised system for GDP estimate to be in place by early 2026
A new base year and methodology of calculation implies that India will be able to track changes in the economy more closely
