GST mop-up rises 15% to Rs 1.68 trn; two-wheeler sales enter fast lane
Highlighting continued hectic activity in the Indian economy, goods and services tax (GST) collection surged 15 per cent year-on-year (Y-o-Y) in November – the steepest for any month of this financial year -- to Rs 1.68 trillion. Positive consumer sentiment was also palpable through the monthly sales figures for cars and two-wheelers as both segments witnessed an annual uptick.
The manufacturing sector gathered pace last month on the back of increasing demand and easing of pricing pressure, with the Purchasing Managers Index (PMI) climbing to 56, according to the survey released by S&P Global. Unified Payment Interface (UPI) transactions clocked a fresh peak in value in November by hitting Rs 17.40 trillion, up 1.4 per cent compared to Rs 17.16 trillion in October.
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