October has been good for the manufacturing sector on the back of slow but strong growth in new orders and production. Manufacturing activity last month rose to 55.3 apiece amid price pressure. During this time, the pace of new recruitment ie employment growth also reached a 33-month high. According to S&P Global, the India Manufacturing Purchasing Managers' Index (PMI) stood at 55.1 in August.
On the other hand, the Tata group is planning to increase the number of employees to get more business from Apple. In this series, he will recruit 45,000 women in 18-24 months at his electronic plant in Tamil Nadu. The company manufactures parts for Apple's iPhone at this plant. The Tata group is also setting up new ventures here. At present, there are about ten thousand employees in this plant. Most of them are women, whose monthly salary is Rs 16,000. They also get free food and accommodation facilities.
GST: 1.52 lakh crore collection in October, second highest ever collection
GST collections rose 16.6 percent year-on-year to Rs 1,51,718 crore in October on a sharp recovery in economic activity during the festive season. This is the second-largest collection ever. In April this year, it reached a record high of around Rs 1.68 lakh crore.
The GST in October 2021 was more than 1.30 lakh crores. It earned Rs 1.48 lakh crore in September this year.
UPI transactions: up 7.7 percent to 730 crore
Transactions through UPI grew by 7.7 percent to 730 crores in October. Transactions worth over Rs 12.11 lakh crore took place. According to the National Payments Corporation of India (NPCI), there were 678 crore transactions worth Rs 11.16 lakh crore in September.
4,452 crore transactions from FASTag
FASTag through UPI has done transactions worth Rs 4,452 crore. It was 4,244.75 crore in September. Transactions in terms of numbers grew by 9.3 percent.
EPFO: Scope will increase to 10 crore members
The scope of the Employees' Provident Fund Organization (EPFO) will be increased to 10 crore members. There are 6.5 crore members associated with the retirement fund body. On the 70th foundation day of EPFO, Labor Minister Bhupendra Yadav said, the scope of social security schemes will be increased. The biggest responsibility is to reduce the number of cases and increase the spread. He also unveiled the Vision-2047 document of EPFO.
ATF: Prices up 4.2%
Aircraft fuel (ATF) prices rose 4.2 percent. Aviation turbine fuel (ATF) price in NCR has increased by Rs 4,842.37 per kg or 4.19 percent to Rs 120,362.64 per kg. Its prices had dropped by 4.5 percent last month.
Commercial cylinders are cheaper by Rs 115.5
Commercial cylinders became cheaper by Rs 115.5. The price of a 19 kg cylinder has come down from Rs 1,859.50 to Rs 1,744. Its prices have come down for the seventh time since June this year. During this, it has become cheaper by Rs 610.
E-rupee launch: Digital currency debut in India too
The Reserve Bank of India (RBI) on Tuesday launched the digital currency e-rupee as a pilot project. Several banks including SBI, ICICI Bank, and Bank of Baroda transacted in government securities through digital rupees.
ICICI Bank sold GS-2027 securities to IDFC First Bank using the Central Bank Digital Currency (CBDC). Thus, on the first day, there were 48 deals totaling Rs 275 crore through Digital Rupee.
275 crore deals done on the first day
More than 60 central banks showed interest
RBI's plan for next one month
E-rupee is to be launched for retail business. More than 60 central banks around the world have shown interest in CBDCs.
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