Iman’s Monthly Report – June 2023

Growth of India’s service sector fell to 58.5 in June vs 61.2 in May.
Manufacturing sector growth (PMI) stood at 57.8 in June vs 58.7 in May.
Retail inflation in India rose to 4.81% in June after a 25-month low of 4.25% in May.
India’s industrial production rose to 5.2% in May from 4.5% in April 2023.
India’s power consumption rose 4.4% year-on-year to 139.23 billion units (BU) in June: Power Ministry.
India’s forex reserves rose $1.9 billion to $595.1 billion during the week that ended on 30 June.
In June 2023, India’s gross GST revenue reached ₹1,61,497 crore, a 12% increase from the previous year.
Tata Steel: consolidated production fell to 7.08 Million Tonnes (MT) in the April-June quarter vs 7.67 MT in the same quarter last year.
Cargo traffic at India’s major ports fell 1.96% year-on-year to 64.63 million tonnes (MT) in June.
Diesel sales fell 3.7% year-on-year in June, petrol sales rose 3.4%.
India’s crude steel production rose 4.1% to 11.2 MT in May 2023: World Steel Association.
The government has introduced a time of day tariff – electricity price will vary based on the time of the day. Applicable for commercial/industrial consumers from 1st April 2024, from 1st April 2025 for all other consumers (except agriculture).

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