The Foundation Day of eight states and five union territories, including Punjab, Chandigarh, Haryana, Andhra Pradesh, Chhattisgarh, Karnataka, Kerala, Madhya Pradesh, Tamil Nadu, Andaman and Nicobar Islands, Delhi, Lakshadweep, and Puducherry, is celebrated on the 1st of November each year. The commemoration was organized under the ‘Ek Bharat Shreshtha Bharat’ initiative by the Government of India. A significant emphasis was laid on the symbolic unity formed by the establishment of four dharma peethas by Adi Shankaracharya, which connected the nation from Kashmir to Kanyakumari through shared cultural bonds.
Historical Formation of Indian States
The formation of various states outlined took place in different years. In 1956, Tamil Nadu, Andhra Pradesh, Madhya Pradesh, Karnataka, and Kerala were formed. Later, in 1966, Haryana was carved out of Punjab. More recently, in 2000, the state of Chhattisgarh was established.
Surge in GST Collections
In October, India’s Goods and Service Tax (GST) revenues experienced a surge, reaching the second-highest monthly collection of ₹1.72 lakh crore in a span of 10 months. Imports witnessed a rise in GST levies by 13.9%, surpassing the growth rate from domestic transactions. As of now, the average gross monthly GST collection for the financial year 2023-24 stands at ₹1.66 lakh crore, which is 11% more than the same period in the preceding financial year.
Increased Revenues due to Anti-Evasion Measures
Notices served to tax evaders and the launch of anti-evasion drives have resulted in substantial collections. The total revenue accumulated by the Centre and the States in October 2023, post-regular settlement, stands at ₹72,934 crore for Central GST (CGST) and ₹ 74,785 crore for State GST (SGST).
Nandini Das’s Prestigious Win
India-born author Nandini Das secured the British Academy Book Prize 2023 for Global Cultural Understanding with her book ‘Courting India: England, Mughal India, and the Origins of Empire.’ Her book explores a fresh perspective on the beginnings of empire through the story of the first English ambassador’s arrival in India, Sir Thomas Roe, in the early 17th century.
Manufacturing PMI Touches Eight-Month Low
The growth of the manufacturing sector slowed down significantly in October 2023. This decline was due to the reduction in new orders, which reached a one-year low, as indicated by the S&P Global India Manufacturing Purchasing Managers’ Index (PMI). Producers reported slower input accumulation due to increased prices of materials such as aluminum, chemicals, leather, paper, rubber, and steel.
Business Confidence Dips Amidst Inflation Fears
Expectations about inflation and demand issues led to a dip in business confidence, which fell to a five-month low. However, firms continued to maintain a generally positive outlook on future prospects. The consumer goods sector contributed to most of the slowdown, recording significantly softer increases in sales, production, exports, input inventories, and buying levels.