India's August manufacturing output eases on lower demand: PMI
Mumbai, Sep 3 : A slower rise in demand further eased the pace of India's manufacturing sector output in August, as the economy continued to face headwinds, key economic data showed on Monday.
According to the Nikkei India Manufacturing Purchasing Managers' Index (PMI), the composite indicator of manufacturing performance declined to a three-month low of 51.7, from 52.3 in July and 53.1 in June.
An index reading of above 50 indicates an overall increase in economic activity, or growth, and below 50 an overall decrease.
Commenting on the Indian manufacturing PMI survey data, Aashna Dodhia, Economist at IHS Markit and author of the report, said: "Indian manufacturers retained positive projections for output over the next 12 months, but the level of sentiment eased in August.
"Indeed, some of the key headwinds facing the economy include high global oil prices, monetary policy tightening and capital outflows from emerging markets."
Although sub-indices tracking output and total orders touched three-month lows last month, foreign demand rose at the quickest pace since February despite global trade tensions.
"PMI data suggested that external demand for Indian goods was also robust, with new export orders rising at the fastest pace since February," Dodhia said.
"Following rises in domestic interest rates, manufacturing companies gained some breathing space as input cost inflation moderated to the weakest since May and further from June's multi-year peak.
"That said, the rupee depreciation against the US dollar continued to place strong upward pressures on input prices," she added.
The Indian rupee reversed all the gains made earlier on Monday to close at an all-time low of 71.21 per dollar, tracking a weak trend among its global peers amid concerns of a wider trade deficit for the country.
An upswing in manufacturing activity and revival of private investment, supported by strong consumer demand, accelerated India's GDP growth rate in the first quarter (April-June) to 8.2 per cent, official data showed last week.
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Taj Mahal top earning ASI monument through ticket sales from FY19-20 to FY23-24: Govt
New Delhi, Apr 3 (PTI): The iconic Taj Mahal in Agra earned the "highest income" through the sale of tickets among the ASI-protected monuments from FY19-20 to FY23-24, according to data shared by the government.
Union Culture Minister Gajendra Singh Shekhawat shared the data in a written response to a query in Rajya Sabha.
He was asked the amount that the Archaeological Survey of India (ASI) has received from selling entry tickets to various monuments in the last five years, year-wise and monument-wise; and the monuments that have received the highest income through selling entry tickets in the last five years.
In his response, the minister shared the data in a tabular form for cycles of financial years ranging from FY19-20 to FY23-24.
According to the data, Taj Mahal earned the top slot for all five years.
The Mughal-era architectural wonder was commissioned by Emperor Shah Jehan in the 17th century and it is considered one of the most beautiful buildings in the world.
In FY19-20, the Agra Fort in Agra and Qutub Minar in Delhi were in the second and third positions.
In FY20-21, the Group of Monuments Mamallapuram in Tamil Nadu and Sun Temple, Konark were in the second and third positions. In FY23-24, Qutub Minar and Red Fort of Delhi were in the second and third positions.
