GDP Of India

The huge drop in GDP, Decreased from 7.9% to 5.7%

GDP figures have also come out after a day, the release of the figures of Demonetisation from the Reserve Bank of India. GDP growth at 5.7% in the quarter ended in the first quarter of 2017-18 i.e. June 30. This is a major drop in GDP. On the basis of year-on-year basis, GDP growth was 7.9% in the April-June 2016 quarter of the previous year. This fall in the GDP is a major drop, which is being directly linked to the Demonetisation.

Foreign Direct Investment

FDI jumps 37% to 10.4 billion USD during April-June 2017

Foreign direct investment, FDI, into the country grew by 37 per cent to 10 (point) 4 billion US Dollar during the first quarter of the current fiscal. According to the figures of the Department of Industrial Policy and Promotion, DIPP, India had received around eight billion FDI US Dollar during the same period last year.

The main sectors which attracted the highest foreign inflows include services, telecom, trading, computer hardware and software and automobile.Bulk of the FDI came in from Singapore, Mauritius, the Netherlands and Japan.

Sensex And Nifty

Sensex surges 167 points to 31,938, Nifty rises 51 points to reclaim 9900 level

The BSE Sensex surged 167 points to 31,938 in early trade today on widespread gains following sustained buying by domestic institutional investors. The NSE Nifty rose 51 points to reclaim the 9,900-level.

Hong Kong's Hang Seng moved up by 0.14 per cent, while Shanghai Composite Index rose 0.32 per cent in early trade today. Japan's Nikkei was, however, slightly down. The US Dow Jones Industrial Average ended 0.12 per cent higher in yesterday's trade.

Retail Inflation

Retail inflation rises to 2.36% in July

Retail inflation rose to 2(point) 36 percent in July this year, chiefly driven by hardening prices in sugar and confectionery items, pan, tobacco, and intoxicants. Retail inflation, as measured by the consumer price index, had stood at 1.46 per cent in June. 

Data released by the Central Statistics Office showed today showed that retail inflation in sugar and confectionery items rose to 8.27 per cent in July, while inflation in pan, tobacco and intoxicants was 6.39 percent. 

Direct Tax Collection

Direct tax collection up 19% till July at Rs 1.90 lakh crore

Direct tax collections till July in the current financial year registered a growth of 19.1 percent. The tax collection during the said period, stands at 1.90 lakh crore rupees which is 19.1 percent higher than the net collections for the corresponding period of last year. 

So far, the growth rate for Corporate Income Tax (CIT) is 7.2 percent and Personal Income Tax (PIT) is 17.5 percent. However, after adjusting for refunds, the net growth in CIT collections is 23.2 per cent while the PIT collections is 15.7 percent. 

Refunds amounting of 61,920 crore rupees have been issued during April to July this year which is 5.1 percent lower than the refunds issued during the corresponding period of last financial year.