The government will by the end of October submit its report on potential wrongdoing at three Indiabulls Group companies. In other news on Tuesday, India's manufacturing sector activity in September remained unchanged and Maruti reported a 24 per cent decline in sales.
September GST collection falls to Rs 91,916 crore
GST collection in September declined to Rs 91,916 crore, as against Rs 98,202 crore in the preceding month, according to government data. The revenue collection in the same month a year ago stood at Rs 94,442 crore. Media reports said the collection was lowest in 19 months.
Govt to submit Indiabulls probe report this month
Ministry of Corporate Affairs has been investigating three Indiabulls Group companies since about a year and will submit its final report by the end of October, Bloomberg reported. Indiabulls Housing Finance, Indiabulls Ventures, Indiabulls Real Estate are being probed for potential wrongdoing.
Manufacturing PMI stays unchanged
The country's manufacturing sector activity in September remained unchanged amid subdued demand conditions both domestically as well as externally, a monthly survey said on Tuesday. The IHS Markit India Manufacturing PMI was at 51.4 in September, unchanged from August and thereby posting its joint-lowest reading since May 2018.
Maruti Suzuki reports 24% decline in sales
The country's largest carmaker Maruti Suzuki India on Tuesday reported a 24.4 per cent decline in sales at 1,22,640 units in September. The company had sold 1,62,290 units in September last year, MSI said in a statement.
SC gives govt more time to explain Article 370 move
The Supreme Court on Tuesday fixed November 14 to commence hearing on a batch of petitions challenging constitutional validity of the Centre's decision to abrogate Article 370 that gave special status to Jammu and Kashmir.
A five-judge Constitution bench headed by Justice N V Ramana allowed the Centre and the Jammu and Kashmir administration to file counter-affidavits on petitions challenging scrapping of Article 370.
Raghuram Rajan’s advice on criticism and policy mistakes
Suppressing criticism is a "sure fire recipe" for policy mistakes, cautioned former RBI Governor Raghuram Rajan in a hard-hitting blog arguing that people in authority should tolerate criticism. Rajan also said it is only criticism that prompts government to take period policy course correction.