Top headlines: Car sales zoom to new high in Aug, India set for Aditya-L1

Car sales zoom to new high in August, signal strong festival show

The Indian auto mobile industry posted its highest ever monthly domestic passenger vehicle (PV) sales at 360,897 units in August, up 10.4 per cent year-on-year (Y-o-Y). This came ahead of festival season and on the back of  growth in the overall economy, an uptick in production due to a better chip supply, and high demand for SUVs. The GST collection last month, too, witnessed high growth of 11 per cent Y-o-Y to over Rs 1.59 trillion; it, however, was less than the Rs 1.65 trillion mop-up in July due to muted growth in the collection of integrated GST (IGST) and cess on imports. Read more
 

India all set for Aditya-L1 mission: It's time for Isro to bask in the Sun

After the success of the Chandrayaan-3 mission by soft-landing on the Moon, India is all set to launch its first space mission to study the Sun, called Aditya-L1, on Saturday by 11.50 am.  The Indian Space Research Organisation (Isro), started a 23-hour 40-minute countdown on Friday at 12:10 hours. Here is a look at the key highlights of the observatory-class solar mission. Read more

From smart phones to laptops, 206 mn obsolete devices lying with households

As many as 206 million devices — smart phones and laptops — are lying idle with consumer households, according to a report and survey by the Indian Cellular and Electronic Association (ICEA) along with Accenture. Based on estimates available till FY21, the staggering numbers show that there are serious challenges in the effective disposal of electronic waste or waste from electrical and electronic equipment in the country, even as this has become a key focus area of the government in order to improve the environment and ensure sustainable production. Read more

India's GST collection increases 11% to Rs 1.59 trn on better compliance

Goods and services tax (GST) collection in August grew 11 per cent to Rs 1.59 trillion annually on account of increased compliance and anti-evasion measures. In August 2022, collection was Rs 1.43 trillion. However, during the month, the tax collected by the Centre (CGST) and the states (SGST), and the revenue from imports and inter-state sales moderated over the previous month. Read more

Narayana Murthy, Azim Premji to set up family investment fund at GIFT City

India may soon get its first family investment fund (FIF) when two of the country’s most successful entrepreneurs, N R Narayana Murthy and Azim Premji, set up one each at GIFT City, Gujarat. Catamaran Ventures, the family office of Murthy, and Premji Invest, which represents similar interests of Premji, have applied to the International Financial Services Centres Authority (IFSCA) to set up India’s first FIF. Read more