Manufacturing PMI for March: Private sector data shows that India’s manufacturing activity has improved in March, which has been due to a sharp increase in factory order and production amidst the boom in demand. The Chasing Manager Index (PMI) on HSBC India Manufacturing was at 58.1 in March, which was 56.3 in February. At the same time, this level was at 56.3 level in February last month. Let us know that a number of more than 50 is a sign of expansion in manufacturing activities. At the same time, the figure below 50 is a sign of a decline in manufacturing activities.
Consumption in consumption
According to media reports, India’s manufacturing PMI came to a 14 -month low in February amidst new orders and slow growth in production. The Chasing Manager Index on HSBC India Manufacturing has recorded a level of above 57 for the eighth time in the last financial year due to improvement in domestic order book. However, sales data of auto companies also show that the sales have increased. Mahindra & Mahindra has recorded an increase of 18 percent in the sales in March as compared to the same period of one year ago. Not only this, the sale of tractor manufacturer Escorts Kubota has increased by 15 percent.
GST collection and UPI transactions increased
The GST collection of the country has also reached an 11 -month high with being at Rs 1.96 lakh crore at the end of the financial year. While the UPI transaction reached close to Rs 25 crore. However, coal production was disappointing and in the last month of the financial year it declined by 31 percent.
Economy’s growth rate is expected to be 6.5 percent
The government hopes that in the financial year 2025, the growth rate of economy will be 6.5 percent. But the performance of the manufacturing sector is likely to be weak. This can come down from 12.3 per cent to 4.3 per cent in the last financial year.