Top headlines: May GST revenues up 44%; Manufacturing PMI steadies in May

GST collections slip below Rs 1.5-trn mark in May despite 44% YoY increase

Goods and services tax (GST) collections slipped below the Rs 1.5 trillion mark in May. India saw gross GST collections of Rs 1.41 trillion during the month.

However, the collections in May are 44 per cent higher than the same month in 2021.

In April, GST collections had touched a record high of Rs 1.68 trillion, surpassing the Rs 1.5-trillion mark for the first time. Read more

Manufacturing PMI steadies in May on increased orders despite inflation

India’s manufacturing sector growth steadied in May on the back of rising international orders despite an increase in prices.

The S&P Global India Manufacturing Purchasing Managers’ Index (PMI) was recorded at 54.6 in May, a minor change from 54.7 in April. New orders and production continued to rise at the pace registered in April.

A print above 50 indicates expansion, while a score below 50 suggests a contraction. Read more

BMC on alert as Mumbai sees over 500 Covid cases for first time after Feb 6

Brihanmumbai Municipal Corporation (BMC) Commissioner Iqbal Singh Chahal on Wednesday asked civic officials to ramp up coronavirus testing immediately on a war-footing and keep the staff of jumbo field hospitals on alert in the wake of a "tremendous" rise in fresh COVID-19 cases in the city over the past few weeks.

"The new cases (reported) daily have tremendously gone up in Mumbai, and with monsoon around the corner, we will now see a rapid rise in symptomatic cases," Chahal told BMC officials. Read more
 

'Not afraid of such tactics': Congress on ED summons to Sonia, Rahul

The Congress on Wednesday said it is not afraid of any summons by the Enforcement Directorate in the National Herald case and will not be cowed down by any such "vendetta" by the BJP government.

Congress leaders Abhishek Manu Singhvi and Randeep Surjewala said party president Sonia Gandhi has been summoned by the ED for questioning in a money laundering case linked to the National Herald newspaper on June 8, and she was determined to appear before the agency as she has nothing to hide. Read more