Read daily news briefs on economic issues collected from different sources.
The Service Sector’s Purchasing Managers’ Index (PMI) declined to 54.3 in September as against 57.2 in August. The manufacturing sector already showed weakness and now the service sector is following it. [BL]
Due to the website glitch, interest on the Employees’ Provident Fund for the last fiscal year has not been credited. The Employees’ Provident Fund Organisation (EPFO) assured that there is no issue with the interest. [BL]
Saudi Arabia kept the oil prices steady in the Asian market while lowering in the European market. However, expectations of a price hike were made after OPEC+ slashed oil production. [BL]
The centre approved the 54 applicants from textiles under Production Linked Incentive (PLI) scheme in August. [BL]
The government passed a new rule on CSR disclosure which allows omitting certain information. However expert says there is no logical reason for this. [ET]
Alok Aditya (Junior Research Fellow at ISEC)
Anuradha (Research Assistant at ADRI)