ECONOMY - The Purbottar

01 Sep

Q1 GDP data: Employment-creating sectors get hit drastically

editor0 CommentsBusinessECONOMY, GDP, INDIA, INDIANECONOMY, UNEMPLOYMENT

The April-June quarter GDP data, released on Monday, showed thedeepest damage in the employment-creating sectors, likeconstruction and manufacturing. This comes at a time the Centreand the Finance Ministry are talking about green shoots in theeconomy. According to the data released by the National Statistical Office, theconstruction sector fell a staggering 50.3 per cent, whilemanufacturing sector contracted by 39.3 per cent, at constantprices. Almost all the major sub-sectors reported a contraction, withconstruction activities, manufacturing sector and trade, hotels, andtransport in the services sector being hit the worst hit. Thecontraction in some services is large, and as these continue to beunder restricted…

11 Jun

Mumbai experience it’s highest one day spike of cases

editor0 CommentsNorth EastCorona, Coronavirus, Covid-19, ECONOMY, Lockdown, Maharastra

On Wednesday, Maharastra as well as mumbai experienced a highest 24 hours toll. Only after a week of the first phase of 'mission begin again' started the death rate was highest in a day. The state saw its highest single-day rise in cases (3,254) ,the previous highest toll was on June 5 (139 cases).The city in total has more positive cases (52,667) than the cases of Wuhan (50,333) the epicentre of corona virus outbreak. Mumbai city, which recorded a staggering 1,595 of these new cases to post its highest day-surge as well, breached the 20,000-case mark to rise to 20,150…

11 Jun

Rupee Drops To 75.82 As Dollar Off 3-Month Low

editor0 CommentsBusinessECONOMY, INDIA, USA

The rupee declined by 23 paise - or 0.31 per cent - to hit 75.82 against the US dollar on Thursday, as the greenback steadied after hitting a three-month low initially following the Federal Reserve's statement that policy would have to be proactive with rates near zero out to 2022. The rupee moved in a range of 75.73-75.82 during the four-hour session, having started the day weaker at 75.80 compared to its previous close of 75.59. Analysts awaited consumer inflation data due on Friday for more clarity on domestic monetary policy going forward. Domestic stock markets fell amid selling pressure in financial and pharmaceutical stocks.…

09 Jun

Indian Govt to launches facility to file GST via SMS for 2.2 million firms

editor0 CommentsBusinessECONOMY, GST, INDIA

The government on Monday launched an easy Goods and Services Tax (GST) return filing facility through short message service (SMS) for about 2.2 million registered businesses provided the value of the return is nil. “In a major move towards taxpayer facilitation, the government has today onwards allowed filing of NIL GST monthly return in FORM GSTR-3B through SMS,” a finance ministry spokesperson said. Now taxpayers with nil liability will not be required to log on to the GST portal and file their returns as a simple SMS to 14409 will do, he said.The facility will substantially improve ease of GST…