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    35 Lakh Income Tax Refund Cases ‘Held Up’ For Various Reasons: Tax Body Chief

    HOT NEWS Bazar Observer -
    New Delhi- Around 35 lakh cases for issuance of refunds are currently "held up" with the Income-Tax Department owing to mismatch and validation of...
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    J&K Bank Makes Account Opening Facility Online

    HOT NEWS Bazar Observer -
    We have taken an important step in our digital journey: MD &CEO Srinagar- Adding yet another prominent product to enrich its digital portfolio, J&K Bank...
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    Services Sector Activity In India Touches 13-Year High In Sep On Strong Demand: PMI

    HOT NEWS Bazar Observer -
    New Delhi- The services sector growth in India rose to a 13-year high in September on sharp increase in new business amid strong demand...
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    Chief Secretary Chairs 11th UT-Level Bankers’ Committee Meeting

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    • Says J&K needs to be at par with National Average in banking sector performance parameters.• Directed banks to work in tandem with line...
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    Basohli Pashmina Gets GI Tag

    Basohli Pashmina Gets GI Tag

    HOT NEWS Bazar Observer -
    Jammu- Basohli Pashmina, a more than 100-year-old traditional craft from Jammu and Kashmir's Kathua district, has got the Geographical Indication (GI) tag, an official...
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    Indian Economy To Grow at 6.3% In FY24: World Bank

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    New Delhi/ Washington- The Indian economy is projected to grow at 6.3 per cent in current financial year aided by investment and domestic demand.According...
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    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 Activity Falls To 5-Month Low In Sep On Softer Increase In...

    HOT NEWS Bazar Observer -
    New Delhi- Manufacturing activities in India fell to a five-month low in September as new orders rose at a softer pace, which tempered production...
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    GI Tag Will Benefit Community, Boost Economic Growth: LG

    J&K’s GST Revenue Growth Much Higher Than National Average: LG

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    Srinagar- J&K State Taxes Department today inked a Memorandum of Understanding (MoU) with Institute of Chartered Accountants of India (ICAI) for knowledge sharing and...
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    GST Mop-Up Rises 10% To Over Rs 1.62 Lakh Cr In Sep; Crosses Rs...

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    New Delhi- Helped by improved compliance, GST collections increased by 10 per cent to over Rs 1.62 lakh crore in September, crossing the Rs...
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    Festive Demand Steers Passenger Vehicle Wholesales To Record High In September

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    New Delhi- Passenger vehicle wholesales in India rose to record levels in September as automakers dispatched stocks to dealers in order to cater to...
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