- Tuesday, March 11, 2025
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Thursday, September 1, 2022:
India’s urban unemployment rate fell to 7.6 per cent in April-June, the lowest in over four years, from 8.2 per cent in the first quarter of 2022, according to data released by the country’s ministry of statistics and programme implementation on Wednesday (31). The urban unemployment data is a part of the Periodic Labour Force Survey report, which is unveiled on a quarterly basis, and assesses the unemployment rate in terms of Current Weekly Status. A person is considered unemployed in a week if he/she doesn’t work even for an hour on any day despite being available for at least for an hour on a day.
India collected Rs 1.44 lakh crore (£15.6 billion/$18 billion) in Goods and Services Tax (GST) in the month of August, registering a rise of 28 per cent from the mop-up a year back, the country’s finance ministry said on Thursday, Moneycontrol News reported. However, when compared to the collection in July, the August figure was four per cent lower. “For six months in a row, the monthly GST revenues have been more than the Rs 1.4-lakh-crore mark,” the finance ministry said in a statement.
NDTV founders Radhika and Prannoy Roy have said after reaching out to market regulator SEBI (Securities and Exchange Board of India) over clarification regarding a 2020 order that the Adani Group-owned Vishvapradhan Commercial Private Limited requires approval from Income Tax authorities to convert the warrants that would lead to the acquisition of a 29 per cent stake in the media outlet. “RRPRH, which owns 29.18 per cent equity interests in NDTV, has intimated VCPL on August 31, 2022 that equity shares of NDTV held by RRPRH were provisionally attached by the Income Tax authorities in the year 2017, with notification in 2018 that the attachment shall remain in place until completion of reassessment proceedings,” NDTV said in a regulatory filing on Wednesday.
The BRICS Chamber of Commerce and Industry (CCI) is set to host the second edition of the Start-up Series ‘Start-up Stories: Unfolding the Unicorn journey’ this month which aims to provide a wholesome approach for young entrepreneurs and build young leaders, to effectively articulate their ideas in a meaningful manner by networking, mentorship, partnerships, and funding for young entrepreneurs, ANI/PNN reported. The event will take place on September 9 starting 10.30 am India time.
Indian automaker Mahindra & Mahindra on Thursday reported an 87 per cent increase in domestic passenger vehicles sales at 29,852 units in August, Press Trust of India reported. The company had sold 15,973 units in the same month last year, M&M said in a regulatory filing. Sales of cars and vans were at 336 units in the month under review, up from 187 units in the year-ago month. In the commercial vehicles segment, the company said it sold 21,492 vehicles in August 2022, as against 8,814 units in the same month last year. M&M president, automotive division, Veejay Nakra said the demand across the company’s portfolio remained strong and new launches such as Scorpio-N, Scorpio Classic and new Bolero MaXX Pik-up also helped in driving growth.
Social media major Meta had taken action against 2.7 crore (27 million) on Facebook and Instagram in July, the company said in its monthly transparency report, PTI reported. The company took action against 2.5 crore posts on Facebook and 20 lakh (two million) posts on Instagram to comply with Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021. On Facebook, action against 1.73 crore spam content was taken. It was followed by 27 lakh post related to “adult nudity and sexual activity” and 23 lakh “violent and graphic content” related content. Meta on its own identified 9.98 lakh “Dangerous Organizations and Individuals: Terrorism” related content and finally it took action against 99.8 per cent of the posts that were identified.
