Top headlines: Manufacturing PMI right down to 46, Tamil Nadu in opposition to NEP & extra

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Top headlines: Manufacturing PMI right down to 46, Tamil Nadu in opposition to NEP & extra
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July manufacturing PMI falls to 46; general exercise shrinks for 4th month
Indian manufacturing slowed down in July after slowly mending for 2 months as lockdowns weighed on demand and output and raised the probabilities of a sharper financial contraction, a non-public enterprise survey confirmed on Monday. Manufacturing PMI stood at 46 in July, down from 47.2 in June. In PMI parlance, a rating above 50 means growth and below that denotes contraction. PMI fell to a historic low of 27.four in April, however had been steadily climbing up since.

Microsoft CEO Satya Nadella spoke with US President Donald Trump on Sunday to salvage the corporate’s effort to purchase TikTok’s operations within the US and a number of other different international locations. Microsoft pledged so as to add extra security, privateness and digital security protections and be certain that all non-public fact of Americans be transferred back to the US and deleted from servers exterior the nation.
Gujarat High Court has allowed a footwear firm to assert credit for taxes paid on service inputs underneath the products and companies tax (GST) regime, possible signalling aid for ecommerce majors corresponding to Amazon, Flipkart and Urban Company. The court docket, whereas listening to a petition filed by VKC Footsteps India, stated that the intent of the govt by framing a rule proscribing enter tax credit can’t be the intent of regulation.
Remittances internationally may decline by $108.6 bn this 12 months as job losses mount and employers trim payrolls amid a Covid-19 pandemic that has devastated economies, based on a report by the Asian Development Bank. Remittances to Asia and the Pacific, which amounted to $315 bn in 2019, assist gas the consumption-led progress for a number of the area’s growing economies, together with the Philippines.
Tamil Nadu govt stated that it’s going to not permit a three-language formulation in Tamil Nadu. The three-language coverage has been proposed within the New Education Policy 2020 launched by the Centre. Chief Minister K Palaniswami stated for the last 80 years Tamil Nadu people have been following two-language coverage and so they need the identical system to proceed.
The first astronaut journey to orbit by a personal firm parachuted to a secure conclusion within the Gulf of Mexico on Sunday. It was the primary water touchdown by NASA astronauts since 1975, when the company’s crews had been still flying to and from orbit within the Apollo modules used for the historic American moon missions.


[Attribution Business Standard]

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