Market Pulse News

Market Pulse

Date Heading Details
03-Mar-2021   09:23 Hrs IST Indian economy recovering faster than expected; need to keep growth momentum: Sanjeev Sanyal <p align="justify">Principal economic advisor to the finance ministry Sanjeev Sanyal has said that Indian economy is recovering much faster than expected and the government will spend on building infrastructure rather than boosting consumer demand artificially. He also said the country needs to keep the growth momentum and it is the only means to create employment and reduce poverty.</p><p align="justify">Sanyal has stated that the nominal GDP growth rate in the Union Budget for 2021-22 was projected at around 14 percent, which is a ‘conservative estimate'. He noted that the government is unapologetic about the privatisation of some public sector entities. He said PSUs will exist where it is needed but not where the private sector can do a better job. He also said that there is a need to unleash the spirit of the private sector. He added ‘we will get rid of regulations but will support sectors which needed by extending the PLI (production linked incentive) schemes.'</p><p align="justify">The data released by the National Statistical Office (NSO) showed after contracting for two quarters in a row, the country's economy grew by 0.4 per cent in the October-December quarter of the current fiscal amid the coronavirus pandemic. The gross domestic product (GDP) had expanded by 3.3 percent in the corresponding period of 2019-20. The economy had shrunk by an unprecedented 24.4 per cent in the first quarter this fiscal following the coronavirus pandemic and resultant lockdowns. <br></p>
02-Mar-2021   09:21 Hrs IST GST collections rise 7% to Rs 1.13 lakh crore in February <p align="justify">The Finance Ministry has said that Goods and Services Tax (GST) collections crossed the Rs 1 lakh crore-mark for the fifth month in a row in February, rising 7 percent to over Rs 1.13 lakh crore, indicating economic recovery. However, the collection is lower than the record Rs 1,19,875 crore collected in the previous month.</p><p align="justify">The gross GST revenue collected in February 2021 is Rs 1,13,143 crore, of which CGST is Rs 21,092 crore, SGST is Rs 27,273 crore, IGST is Rs 55,253 crore (including Rs 24,382 crore collected on import of goods) and Cess is Rs 9,525 crore (including Rs 660 crore collected on import of goods). </p><p align="justify">In line with the trend of recovery in the GST revenues over past five months, the revenues for the month of February 2021 are 7 percent higher than the GST revenues in the same month last year. During the month, revenues from import of goods were 15 percent higher and the revenues from the domestic transaction (including import of services) are 5 percent higher than the revenues from these sources during the same month last year.<br></p>
01-Mar-2021   09:16 Hrs IST India's GDP in positive trajectory in Q3FY21 a promising sign: India Inc
26-Feb-2021   09:17 Hrs IST India's Budget tilted towards supporting growth: Moody's
25-Feb-2021   09:25 Hrs IST RBI to conduct simultaneous sale-purchase of govt securities under OMO for Rs 15,000 crore each
24-Feb-2021   09:27 Hrs IST India now needs to get into cutting edge technology to boost exports: Amitabh Kant
23-Feb-2021   09:23 Hrs IST Investment through P-notes slips to Rs 84,976 crore at January-end
22-Feb-2021   09:19 Hrs IST Budget is about govt role as facilitator, private sector as key driver of growth: Sitharaman
19-Feb-2021   09:24 Hrs IST India's inflation target band of 2%-6% up for review: Nirmala Sitharaman
18-Feb-2021   09:19 Hrs IST India to be one of fastest growing emerging market economies with 10% growth in FY22: S&P