India's factory activity expanded at its strongest pace in three months in January, fuelled by a continued recovery in demand and output, according to a private survey which also showed firms cut jobs at the slowest pace in 10 months. The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, rose to 57.7 in January from December's 56.4, above the 50-level separating growth from contraction for the sixth straight month. "Factories continued to ramp-up production at an above-trend pace, and the sustained upturn in new work intakes suggests that there is room for capacity expansion in the near-term," noted Pollyanna De Lima, economics associate director at IHS Markit.
[BENGALURU] India's factory activity expanded at its strongest pace in three months in January, fuelled by a continued recovery in demand and output, according to a private survey which also showed firms cut jobs at the slowest pace in 10 months. Read more at The Business Times.
The Nikkei Manufacturing Purchasing Managers Index, compiled by IHS Markit, rose to 57.7 in January from December s 56.4, above the 50-level separating growth from contraction for the sixth straight month
Interest earned on PF contributions above Rs 2.5 lakh to be taxable: Budget The government on Monday said the employers who delay the deposit of workers share of social security contributions like employees provident fund will not be able to claim the amount as deduction from their income. An amendment in this regard is proposed in the Finance Bill 2021, to ensure that firms deposit the social security contributions of their employees like Employees State Insurance (ESI) well in time. Besides it is proposed to tax interest earned on annual provident fund contribution of over Rs 2.5 lakh from April 1, 2021. At present there is no tax on interest earned on provident fund deposits.
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India s January Factory Activity Hit Three-Month High, Job Cuts Subside
Sub indexes tracking new orders and output rose to their highest since October, indicating strong growth in demand.
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India s factory activity expanded at its strongest pace in three months in January, fuelled by a continued recovery in demand and output, according to a private survey which also showed firms cut jobs at the slowest pace in 10 months.
The Nikkei Manufacturing Purchasing Managers Index, compiled by IHS Markit, rose to 57.7 in January from December s 56.4, above the 50-level separating growth from contraction for the sixth straight month.
Sub indexes tracking new orders and output rose to their highest since October, indicating strong growth in demand.