"This is in sync with Prime Minister Narendra Modi's vision of 'area-based' development approach. The number of such clusters will go up as we move ahead," Sumita Dawra, special secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), told reporters here on Thursday.
According to the agency, these 23 states' combined capital outlay and net lending stood at Rs 3.2 lakh crore as of December 2022, which is only 46 per cent of their FY23 budget estimates. Consequently, a substantial Rs 3.8 lakh crore of additional spending is required in Q4 to meet their budgeted capex of Rs 7 lakh crore.
This has prompted the edible oil industry to seek immediate steps to arrest the fall. The industry has suggested that government agencies like the National Agricultural Cooperative Marketing Federation of India (Nafed) be asked to procure mustard seeds and defend the MSP.
"India's manufacturing industry sustained robust growth of output and new orders halfway through the final fiscal quarter, albeit with a notable slowdown in the rate of international sales expansion," S&P Global Market Intelligence that conducted the survey said in a release on Wednesday.
I believe that the GST has been a success. The recent budget has reported a significant increase in the number of taxpayers registering for GST. Before the GST, there were various sales taxes and other taxes, which were economically inefficient. Therefore, in terms of efficient taxes, the GST is incredibly efficient.