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Shock to the government, manufacturing sector falls below a decade high

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new Delhi. The pace of growth in India’s manufacturing activities has come down. The country’s manufacturing sector has recorded a slow flow in November due to restrictions related to Kovid-19. The manufacturing procurement managers index (PMI) of IHS Market India fell to 56.3 in November from 58.9 in October, after it recorded the strongest improvement in the health sector in a decade during October.

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Lowest new orders in last three months
According to the report, the pace of growth of new orders in November was the lowest in three months. The manufacturing PMI report said that new orders grew at the slowest pace in three months. New orders increased significantly in November in terms of exports, with survey participants reporting strong demand for their goods from major export markets. This figure has come down somewhat after a decade high of October. According to the report, the quantity of raw material or input purchases grew at the slowest pace in three months.

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Relief in GST figures
On the other hand, GST figures in the month of November have given relief to the government. The gross GST revenue collection stood at about 1.05 lakh crore rupees. This information was given on Tuesday in an official statement. Revenue in November 2020 is 1.4 percent higher than GST revenue in the same month of the previous year. During the month, revenue from import of goods was 4.9 per cent higher than revenue received last year and 0.5 per cent more from domestic transactions including import of services. Total Goods and Services Tax received Central GST (CGST) of Rs 19,189 crore, State GST (SGST) of Rs 25,540 crore and Integrated GST (IGST) of Rs 51,992 crore.

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