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Jan 1, 1970 12:00 AM 2 min read
Editorial

And cashing in on this growing consciousness of individuals and companies to be “good” citizens are climate-centric start-ups such as Project Wren. These so-called climate-streaming services offer a web-based tool to quantify individual carbon emissions and subsequently make regular payments into projects that will absorb those emissions. 

 

Going Down: India’s services PMI declined to 52.4 in August after July’s year-high of 53.8. Though this is still higher than the 50-mark separating growth from contraction, the fall in services PMI alongwith manufacturing PMI (which is at a 15-month low) has pushed the composite index down to 52.6 from the previous 53.9. (A historical overview of the services PMI can be found here.)
 
This comes on the heels of the recently released GDP numbers, which showed the Indian economy growing at 5%, the lowest rate in six years.

 

 

Going Down: India’s Services PMI declined to 52.4 In August after July’s year-high of 53.8. Though this is still higher than the 50-mark separating growth from contraction, the fall in services PMI alongwith manufacturing PMI (which is at a 15-month low) has pushed the composite index down to 52.6 from the previous 53.9. (A historical overview of the services PMI can be found here.)

However, the move is likely to face backlash from the states, fearing loss of revenue

 

 

GST Council may consider tax cut for hybrid vehicles amidst auto sector slowdown. States may push back fearing loss of revenue. 
 

Clutching at the Straw: Amidst a severe drop in sales in the auto sector, the GST Council is examining a rate cut for hybrid vehicles by doing away with the cess, which will bring down the tax rate from 43% to 28%. 
 
Currently, all four- and two-wheelers for commercial or personal use — except electric vehicles, bicycles, rickshaws, etc — are now in the 28% GST bracket.
 
However, the move is likely to face backlash from the states, fearing loss of revenue