#Truths last horizon full

Further, the profit growth was concentrated in half a dozen large companies which accounted for the bulk of the increase. Exclude that and the figure was down to 16.3 per cent. The April-June numbers for nearly 3,000 listed companies showed net profit growth of 22.4 per cent, but this was boosted by the financial sector’s improved health. If the economy is levelling off, how does one explain the sharp surge in direct tax collection? One reason for this bright spot against an otherwise darkening horizon is that corporate profits continue to grow, though cost escalation means that margins have been squeezed to their lowest level in nine quarters. It couldn’t get flatter than that.Īlso read: Leading economies of the world are driving global instability. Collection in September is projected at Rs 1.45 trillion. After revenue of Rs 1.68 trillion in April (reflecting the annual output surge in March), the figures for subsequent months were Rs 1.41 trillion, Rs 1.44 trillion, Rs 1.49 trillion, and Rs 1.43 trillion. This must be viewed against the backdrop of power generation last year (2021-22) having been only 1 per cent more than four years earlier, in 2017-18.Īs for the index of industrial production, growth in July was 2.4 per cent, while output growth in the “core sector” (steel, cement, fertiliser and the different energy businesses) during August hit a nine-month low of 3.3 per cent. The numbers were up in the initial months of the year, but by August growth had petered out and the numbers were basically flat. The story with electricity generation is the same as with exports.

#Truths last horizon full

The larger current account deficit (including trade in services) for the full year is forecast to reach by far the highest level in a decade. Overall result: the merchandise trade deficit for the first six months has nearly doubled.