Page 32 - The Indian EYE 010121

Business EYE JANUARY 01, 2021 | The Indian Eye 32

light at the end of tunnel

as stocks rise, gst collection up and

foreign money flows in

But output of eight core infrastructure sectors dropped by 2.6 per cent in November

Our Bureau ty benchmark indices began

New Delhi the first trading session of year
2021 on a positive note with
quity benchmark indices the possibility of touching new
began the new calendar heights. The stocks have surged
Eyear with a positive tone since November on record in-
as investors hoped for progress flows from foreign institutional
on Covid-19 vaccines globally investors, progress on Covid-19
amid signs of a nascent econom- vaccines globally and signs of a
ic recovery in the country. nascent economic recovery in
the country. At 10:15 am, the
the bse s&P sensex BSE S&P Sensex was up by 148
points or 0.31 per cent at 47,899
closed 118 points or 0.25 while the Nifty 50 edged higher

per cent higher at 47,869 the new year has begun with a bang for both sensex and nifty (ani) by 39 points or 0.28 per cent to
14,020.
while the nifty 50 edged on account of Goods and Ser- 44,641 crore for CGST and Rs Except for Nifty pharma,
higher by 37 points or vices Tax (GST) crossed Rs 1.15 45,485 crore for the SGST. all sectoral indices at the Na-
“This is the highest growth tional Stock Exchange were in
lakh crore in December, up 12
0.26 per cent to 14,019. per cent in the year-ago period, in monthly revenues since last the green zone with Nifty PSU

except for nifty private the government said on Friday. 21 months,” said the statement. bank moving up by 1.6 per cent,
Since the introduction of GST, The December 2020 revenues auto and IT by 0.5 per cent, and
bank and financial ser- it is the first time that they have are significantly higher than last FMCG by 0.3 per cent.
But in a sign of worry, the
vices, all sectoral indices crossed Rs 1.15 lakh crore. month’s revenues of Rs 104,963 output of eight core infrastruc-
The highest GST collec-
crore.
at the national stock ex- tion till now was Rs 1.13 lakh “It has been due to com- ture sectors dropped by 2.6 per
change were in the green crore in April 2019. Of the Rs bined effect of the rapid eco- cent in November largely due
115,174 crore in December
nomic recovery post-pandem- to decline in production of nat-
zone with nifty Psu bank 2020, the Central GST was Rs ic and the nationwide drive ural gas, refinery products, steel
moving up by 3.2 per 21,365 crore, State GST Rs against GST evaders and fake and cement, government data
bills along with many system- released on Thursday showed.
27,804 crore and Integrated
cent, auto and It by 0.8 GST Rs 57,426 crore (includ- ic changes introduced recent- This is the ninth month of
per cent, and fmCg by ing Rs 27,050 crore collected ly, which have led to improved contraction in a row for the
compliance.”
eight core industries. In No-
on imports) and cess Rs 8,579
0.6 per cent. crore (including Rs 971 crore This is the third month in a vember 2019, the production of
collected on imports). row in current financial year af- eight core sectors had recorded
Among stocks, Adani Ports The total number of GSTR ter the economy has been show- a growth of 0.7 per cent, data re-
was the top gainer by moving up 3B returns filed for the month ing signs or recovery post-pan- leased by the Ministry of Com-
4.4 per cent to Rs 505 per share. of November up to December demic that the GST revenues merce and Industry showed.
Mahindra & Mahindra gained 31 is Rs 87 lakh, according to a have been more than Rs 1 lakh This year in November,
by 1.5 per cent to Rs 731.80 per statement issued by the Minis- crore. crude oil, natural gas, refinery
share after called off talks with try of Finance. The government The average growth in GST products, steel and cement re-
Ford for a joint venture. Punjab settled Rs 23,276 crore to CGST revenues during the last quar- corded negative growth.
National Bank advanced by 5.3 and Rs 17,681 crore to SGST ter has been 7.3 per cent as However, the output of
per cent, State Bank of India by from IGST as regular settle- compared to minus 8.2 per cent crude oil, natural gas, refinery
1.5 per cent, Tata Consultan- ment. The total revenue earned during the second quarter and products, steel and cement de-
cy Services by 2.4 per cent and by Central government and minus 41 per cent during the clined by 4.9 per cent, 9.3 per
Tata Motors by 1.4 per cent. state governments after regular first quarter of financial year. cent, 4.8 per cent, 4.4 per cent
Meanwhile, Gross revenue settlement in December is Rs In a positive mood, equi- and 7.1 per cent respectively.

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