|| SHANIWAR SAMWAD || 07-10-2023

 Month started with big bang for economy as the festivals have begun and so the purchasing for it. We already witnessing the expansion of economy from start of FY24, rather it is continued since last year on solid performance and it will continue in coming years as it is on solid foundation.

The latest GST collection is above 1.6L which is showing the formalization of economy with reduction is tax evasion due to increased compliances. System is working on avoiding tax leakage with general awareness for compliances which is increased and will be far more strict

The recall or demonetization of Rs. 2000/- is  adding  financial activity. The black money menace due to high value currency will reduce so the hoarding. It is going to be suspended or made illegal to transact after 10th of Oct.

The other micro and macros are stable with comfortable CAD as expansion in economy is not making import dominance in trade. Expansion in manufacturing PMI is in new normal position with hovering above 55 for last six months of FY24.

The end of festival season will kick start season of marriage and Gruh pravesh which is like festival of whole country.

Our corporates are expanding in global arena with quality manufacturing as demand for our goods are increasing due to quality and China plus One strategy.

We need manufacturing sector as we have lots of unskilled labor which get absorbed by it . Composition of sectors like agriculture, services and manufacturing should have balancing weightage with services have highest weight.

World need us to balance the trade imbalance which is tilted towards China, overall we have good reputation with reliable supply.

We are seeing volatility in our market which is caused by Hedge funds. They are getting impatient due to geopolitics and detoriating finance of west Europe and USA.

Going forward we will see many falls in market due to continuous sell from them and it will be compensated by Domestic mutual fund investors.

Going forward, our transparent  trade practices are our strength which is needed to exploited.


Location: India

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