GUJARAT

TheGujaratgovernment has decided to include ‘Maru Kumbhar’ caste in the list of Socially and Educationally Backward Classes.

According to the list of theDepartment of Social Justiceand Empowerment, ‘Kumbhar’ and its sub-castes have been included in No. 99 in the list of Socially and Educationally Backward Class. Some applicants belonging to ‘Maru Kumbhar’ caste, a sub-caste of ‘Kumbhar’ caste in Gir Somnath district, had difficulty in obtaining Socially and Educationally Backward Class certificates due to the mention of ‘Maru Kumbhar’ in their documents, which the directed the department to rectify immediately.

The department has amended the resolution to include ‘Maru Kumbhar’ caste in the list of Socially and Educationally Backward Class to make it easier for the applicants of the ‘Maru Kumbhar’ caste to get the certificates.

The Business Expectations Survey (BIES) for February 2023, carried out byProf Abhiman DasofIIM Ahmedabad(IIM-A), found that profit margins and sales had reduced compared to January.
For inflation expectations, CPI headline inflation was marginally higher at 4.94% against 4.91% in December 2022.

Around 40% of the participating companies perceive a significant (over 6%) cost increase, from 40% reported in the earlier round. Over 30% of companies in this round of the survey reported much less than normal sales, sharply up from 24% in January 2023. More than 35% of participating companies in February 2023 perceive profit margins to be much less than normal up from 28% in January 2023.

The BIES provides ways to examine the amount of slack in the economy by polling a panel of business leaders about their inflation expectations in the short and medium term.

The Goods and Services Tax (GST) collection inGujaratincreased14%to a fresh record high of Rs 8,221 crore in February 2021 as against Rs 7,217 crore during the same month last year, shows the latest data released by the Union finance ministry. With this, Gujarat clocked the highest Growth inGSTcollection among the top manufacturing states.

Gujarat is the only manufacturing state which registered a growth above 10%. Other manufacturing states where GST collection increased include Nadu (9%), Haryana (6%), Uttar Pradesh (4%) and Karnataka (2%) and Maharashtra (2%).
Tax experts suggest that growing demand coupled with revival in industrial production pushed tax collection to go up.

On the other hand, Delhi (-3%) and Telangana (-1%) witnessed a decline in tax collection whereas in Andhra Pradesh, the tax collected remained flat.

Although the recently formed a high-level task force under former Union finance secretary Hasmukh Adhia, to prepare an action plan for corrective action to enhanceGujarats economic contribution to achieve PM Narendra Modis aim of a $5 trillion Indian economy by 2024, the statesGSDP(gross state domestic product) will have to increase its Growth rate by 25% per year.

However, state finance minister Kanu Desai projectedGSDP growthof 13% in his budget speech

TheGujaratgovernment decided to postpone the 10th edition of theVibrant Gujarat Summit, that was to be inaugurated by Prime Minister NarendraModion January 10, in the wake of a spike inCOVID-19cases, according to the Chief Minister’s Office.

The three-day summit was to be held in a big way to attract investments and delegations from many partner countries and CEOs of top companies were supposed to participate in the event.

With surging raw material costs, costlier commodities coupled with an improved demand in the run up to the festive season, Gujarats GST collection stood at an all-time high of Rs 8,497 crore in October 2021, since the rollout of the new tax regime. Tax collection grew 25% year-on-year against Rs 6,797 crore in October 2020.Gujarathad the second highest GST collection, laggingMaharashtrawhere the tax mop-up was Rs 16,355 crore in October.

According to Union finance ministry, the revenues would have still been higher if the sales of cars and other products had not been affected because of disruption in supply of semi-Conductors.
Even month on month, GST collection rose 9.2% against Septembers Rs 7,780 crore in Gujarat. state GST (SGST) collection has also grown 40% in Gujarat during October. According to data, SGST collection stood at Rs 3,821 crore in October this year against Rs 2,731 crore of collection in the same month last year.

Since the ban on single-use-plastics (SUP) came into force on July 1, manufacturers of non-woven fabric have seen an uptick in demand. Three weeks after the ban was implemented, estimates byIndinonManufacturers Association of Non-wovens (INDINON) show that production of non-woven fabric makers is up 15%, backed by greater demand for non-woven bags that are reusable and recyclable, to replace plastic bags.

Most players in the FMCG sector, electronics, showrooms, grocery stores and other retail outlets have switched to using non-woven bags.

Since the pandemic began two years ago, demand for non-woven fabrics has increased for use in manufacture of disposable bags, masks,PPEkits and coveralls, disposable bedsheets and pillow covers and applications in the Agriculture-notes-for-state-psc-exams”>Agriculture sector as well.

As industrial production has returned to full-throttle after the second wave of Covid cases with a massive increase in raw material prices across sectors, GST collection inGujaratgrew by 28% in September 2021 against the same month in 2020.

Total GST collection in the state stood at Rs 7,780 crore in September, up from Rs 6,090 crore in September 2020, according to data from the Union finance ministry.

xperts say the increased tax collection is primarily due to a revival indemandand the low-base of last year, as tax collection was relatively low due to the post-lockdown effect.

Of the total collection, State GST (SGST) in Gujarat stood at Rs 3,654 crore this September, up 47.5% from Rs 2,415 crore last September. Tax collection, however, grew marginally, by 3.5%, against Augusts figure of Rs 3,530 crore, according to figures from the state commercial tax department.