E-way bills rise as businesses push goods in December
₹1.65 trillion in GST revenue in December, a notch below the monthly average so far this fiscal of ₹1.66 trillion. But GST revenue receipts still showed a double digit growth of 10.3% compared with a year ago.
S&P Global on 3 January said India’s manufacturing output expanded strongly in December despite a loss of growth momentum. According to S&P Global, despite falling from 56.0 in November to an 18-month low of 54.9 in December, the manufacturing purchase managers’ index was indicative of a marked improvement in the health of the sector.
A reading of 50 separates expansion from contraction. The latest reading was above the long-run series trend, but contributed to the lowest quarterly average of 55.5 since the first quarter of FY2023, S&P said.
Another high frequency indicator, railway freight data, had shown an improvement in the official figures released on 4 January. The Railways said that in December, it achieved originating freight loading of 138.99 million tonnes against 130.66 million tonnes in December 2022, higher by 6.37%.
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