MARKETS

GST Officers Detect Over 29,000 Bogus Firms Involved In Fake ITC Claims Of Rs...

MARKETS Bazar Observer - January 7, 2024

New Delhi- The government on Sunday said GST officers have detected 29,273 bogus firms involved in fake Input Tax Credit (ITC) claims of Rs...

India’s GDP To Grow By 7.3% In 2023-24: Govt Estimates

MARKETS Bazar Observer - January 6, 2024

New Delhi- The Indian economy is estimated to grow by 7.3 per cent in the 2023-24 fiscal against 7.2 per cent a year ago,...

E-Way Bill Generation Without B2B E-Invoice Details To Be Blocked From March 1

MARKETS Bazar Observer - January 6, 2024

New Delhi- Businesses with turnover above Rs 5 crore will not be able to generate e-way bill without including e-invoice details for all B2B...

Indian Economy Outperforming Peers, Projected To Grow At 6.2% In 2024: UN

MARKETS Bazar Observer - January 5, 2024

United Nations- India is projected to grow at 6.2 per cent in 2024, supported by robust domestic demand and strong growth in the manufacturing and...

India’s Dec Services PMI Hits 3-Month High On Sharp Rise In New Orders Amid...

MARKETS Bazar Observer - January 5, 2024

New Delhi- The services sector growth in India rose to a three-month high in December supported by favourable economic conditions and positive demand trends, a...

Gulmarg Gondola Ferried A Million Tourists, Earned Rs 108 Cr In Revenue In 2023

MARKETS Bazar Observer - January 4, 2024

Gulmarg- Asia's highest cable car project, locally known as Gulmarg Gondola, ferried one million tourists and earned a revenue of Rs 108 crore in...

New Delhi, Jan 3 (PTI) India's manufacturing sector growth fell to an 18-month low in December amid softer increase in factory orders and output, despite minimal inflation, a monthly survey said on Wednesday. The HSBC India Manufacturing PMI survey, conducted by S&P Global, showed that there were softer, albeit sharp, increase in factory orders and output, while business confidence towards the year-ahead outlook strengthened. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 56 in November to an 18-month low of 54.9 in December. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. The HSBC India Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers. "India's manufacturing sector continued to expand in December, although at a softer pace, following an uptick in the previous month. Growth of both output and new orders softened, but on the other hand, the future output index rose since November," said Pranjul Bhandari, Chief India Economist at HSBC. Despite a loss of growth momentum, the sector still expanded strongly in December. New business gains, favourable market conditions, fairs and expositions collectively induced another sharp increase in manufacturing production during December, according to panellists. The December data showed a 21st consecutive increase in international order receipts at goods producers in India. "Companies noted gains from clients in Asia, Europe, the Middle East and North America. New export sales expanded at a moderate pace that was the joint-slowest in eight months," the survey noted. On the prices front, input costs rose at the second-slowest rate in nearly three-and-a-half years and charge inflation softened to a nine-month low. Among the items reported to have been up in price were chemicals, paper and textiles. Little-changed from November, however, the rate of inflation was negligible by historical standards and was the second-weakest in just under three-and-a-half years, as per the survey. "Rates of increase in input and output prices were broadly unchanged," Bhandari added. HSBC India PMI data showed a general lack of pressure on the capacity of manufacturers at the end of the third fiscal quarter. Subsequently, employment was largely stable in December. When assessing the year-ahead outlook for production, Indian manufacturers were at their most upbeat for three months. Anecdotal evidence highlighted advertising, better customer relations and new enquiries as the main factors boosting business confidence in December, the survey said.

India’s Manufacturing Sector Growth Falls To 18-Month Low In Dec On Softer Rise In...

MARKETS Bazar Observer - January 3, 2024

New Delhi- India's manufacturing sector growth fell to an 18-month low in December amid softer increase in factory orders and output, despite minimal inflation, a...

Aviation Watchdog DGCA carried out 5,745 surveillance activities in 2023

MARKETS Bazar Observer - January 3, 2024

Mumbai- Regulator DGCA carried out 5,745 surveillance activities with respect to airlines, airports and approved organisations in 2023 as part of its efforts to...