Iman’s Monthly Report – July 2023

Output of India’s core sectors rose 8.2% in June – fastest in 5 months. Steel and coal production recorded a significant growth.
Growth in India’s manufacturing sector (PMI) stood at 57.7 in July vs 57.8 in June, and 58.7 in May.
India’s industrial production output grew by 3.7% in June vs 5.3% in May.
GST collection rose 11% to over Rs 1.65 lakh cr in July.
India’s fiscal deficit for the April-June quarter stood at 4.51 lakh cr rupees, or 25.3% of annual estimates.
India’s retail inflation rose to 7.44% in July (highest since May 2022) vs 4.81% in June.
Wholesale inflation (WPI) stood at -1.36% (wholesale prices fell) in July 2023 vs -4.12% in June 2023.
RBI has set a coupon rate of 7.18% for the new 10-year government securities.
The Employees’ Provident Fund Organisation (EPFO) has declared the interest rate as 8.15% for Employees’ Provident Fund (EPF) accounts for the financial year 2022-23.
Direct tax collection rose 15.73% to Rs 6.53 lakh cr till August 10 in the current financial year: Income Tax Department.
The number of Income Tax Returns filed till 31 July deadline stood at 6.77 cr, 16.1% higher than last year. 53.67 lakh taxpayers filed returns for the first time.
India has approved 7 multi-tracking (railways) projects worth Rs 32,500 cr. This will increase the existing network of Indian Railways by 2,339 km.

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This analysis has been compiled by obtaining data from Iman Resources’ sources.