Manufacturing PMI for March: Private sector survey data released on April 2 shows that India's manufacturing activity improved in March and reached an eight-month high of 58.1 at the end of FY25, recovering from the 14-month low of 56.3 last month. In simple words, India's manufacturing PMI stood at 58.1 in March. At the same time, it was at 56.3 in February last month. Let us tell you that a figure above 50 indicates expansion in manufacturing activities. At the same time, a figure below 50 indicates a decline in manufacturing activities.
Consumption increased in the country
Due to improvement in the domestic order book, the HSBC India Manufacturing Purchasing Managers Index has recorded a level above 57 for the eighth time in the last financial year. Auto data released a day earlier showed that consumption in the country has increased. All automotive companies have performed strongly in March. Mahindra & Mahindra has registered an 18 percent increase in sales in March compared to the same period a year ago. At the same time, tractor manufacturer Escorts Kubota's sales have increased by 15 percent.
GST collection and UPI transactions increased, coal production remained disappointing
Two-wheeler sales, an important indicator of rural demand, have also seen double-digit growth for most companies. The country's GST collection has also reached an 11-month high at Rs 1.96 lakh crore at the end of the financial year. While UPI transactions have reached close to Rs 25 lakh crore. However, coal production remained disappointing and declined by 3.1 percent in the last month of the financial year.
The economy is expected to grow at 6.5% in FY25
The government expects the economy to grow at 6.5 percent in FY25. The manufacturing sector is likely to perform poorly. It may fall to 4.3 percent from 12.3 percent in the previous fiscal year.
