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Indias merchandise exports rises 1.3% in June 2016 after 18-months of decline
Jul 15,2016

Indias merchandise exports rose 1.3% to US$ 22.57 billion in June 2016 over a year ago, while snapping continuous decline for last eighteen straight months. Meanwhile, merchandise imports continued to decline at 7.3% to US$ 30.69 billion. The trade deficit narrowed 25.0% to US$ 8.12 billion in June 2016 from US$ 10.83 billion in June 2015.

Oil imports plunged 16.4% to US$ 7.25 billion, while non-oil imports also declined 4.1% to US$ 23.44 billion in June 2016 over June 2015. The share of oil imports in total imports was 23.6% in June 2016. The Brent crude oil price plunged 21.6% to US$ 49.96 per barrel in June 2016 over June 2015.

Among the non-oil imports, the major contributors to the overall decline in imports were petroleum products imports declining 16.4% to US$ 7.25 billion, gold 38.5% to US$ 1.21 billion, pearls & semi-precious stones 13.5% to US$ 1.79 billion, fertilizers 22.8% to US$ 0.71 billion, iron & steel 16.7% to US$ 1.03 billion, metaliferrous ores & other minerals 27.2% to US$ 0.46 billion, coal 13.0% to US$ 1.07 billion, project goods 53.0% to US$ 0.09 billion, silver 27.2% to US$ 0.25 billion, organic & inorganic chemicals 4.1% to US$ 1.51 billion and fruits & vegetables 19.7% to US$ 0.15 billion.

On the other hand, the imports have increased for electronic goods by 9.5% to US$ 3.44 billion, electrical & non-electrical machinery 1.8% to US$ 2.30 billion, transport equipment 11.0% to US$ 1.30 billion, artificial resins, plastic materials etc. 1.6% to US$ 1.05 billion, non-ferrous metals 9.9% to US$ 0.94 billion, vegetable oil 5.5% to US$ 0.82 billion and chemical material & products 11.8% to US$ 0.48 billion in June 2016.

On exports front, the engineering goods recorded an increase in exports by 0.9% to US$ 5.14 billion, followed by drugs & pharmaceuticals 0.1% to US$ 1.41 billion, organic & inorganic chemicals 14.4% to US$ 1.21 billion, rice 8.6% to US$ 0.60 billion, plastic & linoleum 10.6% to US$ 0.54 billion, electronic goods 9.9% to US$ 0.52 billion, marine products 43.2% to US$ 0.47 billion, and handicrafts excluding handmade carpet 92.0% to US$ 0.25 billion.

However, the exports declined for gems & jewellery by 0.5% to US$ 3.51 billion, petroleum products 10.8% to US$ 2.57 billion, readymade garment of all textiles 0.8% to US$ 1.57 billion, cotton yarn/fabrics/made-ups 2.3% to US$ 0.81 billion, leather & leather products 3.8% to US$ 0.50 billion, man-made yarn/fabrics/made-ups 10.5% to US$ 0.37 billion, in June 2016.

Merchandise exports in Rupees increased 6.7% to Rs 151905 crore, while imports declined 2.3% to Rs 206524 crore in June 2016 over June 2015. The trade deficit narrowed to Rs 54620 crore in June 2016 compared with Rs 69143 crore in June 2015.

Indias merchandise exports declined 2.1% to US$ 65.31 billion, while merchandise imports fell 14.5% to US$ 84.55 billion in April-June 2016. The decline in imports was driven by a 23.6% dip in oil imports to US$ 18.85 billion. Indias merchandise trade deficit declined to US$ 19.23 billion in April-June 2016 from US$ 32.23 billion in April-June 2015.

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Reservoirs water level rises significantly in the week ended 14 July 2016
Jul 15,2016

The water level of 91 major reservoirs of the country has shown significant rise during the last one week. The water storage available in these reservoirs was 18% of their capacity on 06 July 2016 which rose to 29% (45.492 BCM) as on 14 July 2016.

This was 83% of the storage of corresponding period of last year and 101% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

Region Wise Storage Status

Northern Region

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are 6 reservoirs under Central Water Commission (CWC) monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 5.08 BCM which is 28% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 51% and average storage of last ten years during corresponding period was 38% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

Eastern Region

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 4.02 BCM which is 21% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 43% and average storage of last ten years during corresponding period was 22% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

Western Region

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. The total live storage available in these reservoirs is 6.55 BCM which is 24% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 25% and average storage of last ten years during corresponding period was 30% of live storage capacity of these reservoirs. Thus, storage during current year is less than the storage of last year and is also less than the average storage of last ten years during the corresponding period.

Central Region

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 18.71 BCM which is 44% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 36% and average storage of last ten years during corresponding period was 21% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

Southern Region

The Southern region includes States of Andhra Pradesh, Telangana, AP&TG (Two combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 11.41 BCM which is 22% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 31% and average storage of last ten years during corresponding period was 33% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

States having better storage than last year for corresponding period are Rajasthan, Tripura, Maharashtra, Madhya Pradesh and Andhra Pradesh. States having lesser storage than last year for corresponding period are Himachal Pradesh, AP&TG (Two combined projects in both states), Punjab, West Bengal, Jharkhand, Odisha, Gujarat, Uttar Pradesh, Uttarakhand, Chhattisgarh, Telangana, Tamil Nadu, Kerala and Karnataka.

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WPI inflation rises to 20-months high of 1.6% in June 2016
Jul 14,2016

The Wholesale Price Index (WPI)-based inflation galloped to 20-months high of 1.62% in June 2016. An increase in inflation was mainly driven surge in inflation for all three major sub-groups- primary articles, fuel & power and manufactured products in June 2016.

Inflation of primary articles increased to 5.5% in June 2016 from 4.6% in May 2016. The inflation for manufactured products accelerated to 1.2% in June 2016. Further, the inflation for fuel items jumped to (-) 3.6% in June 2016 from (-) 6.1% in May 2016.

As per major commodity group-wise, inflation increased for foodgrains, vegetables, fruits, milk, raw cotton, copper ore, iron ore, crude petroleum, mineral oils, sugar, grain mill products, oilcakes, beverages and tobacco products, paper products, chemical products, and gold & gold ornament in June 2016. On the other hand, inflation declined for egg, fish, spices, flowers, coal, tea & coffee products, rubber & plastic products, cement, marble, industrial machinery and electrical machinery in June 2016.

Inflation of food items (food articles and food products) rose to 8.2% in June 2016 from 7.8% in May 2016. Meanwhile, inflation of non-food items (all commodities excluding food items) moved up to (-) 1.3% in June 2016 from (-) 2.2% in May 2016.

Core inflation (manufactured products excluding foods products) rose to (-) 0.3% in June 2016, from (-) 0.4% in May 2016.

The contribution of primary articles to the overall inflation, at 1.62%, was 154 basis points (bps) in June 2016 compared with 125 bps in May 2016. The contribution of manufactured products was 65 bps compared with 51 bps, while that of fuel product group was (-) 58 bps against (-) 99 bps in May 2016.

The contribution of food items (food articles and food products) to inflation rose to 249 bps in 1.62% in June 2016 compared with 232 bps to 0.79% in May 2016. Meanwhile, the contribution of non-food items (all commodities excluding food items) was (-) 89 bps in June 2016 compared with (-) 154 bps in May 2016.

As per the revised data, the inflation figure for April 2016 was revised up to 0.79% compared with 0.34% reported provisionally.

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Cabinet approves facilities extended to persons residing in India on Long Term Visa
Jul 13,2016

The Union Cabinet has approved the following facilities being extended to persons from Minority communities of Afghanistan, Bangladesh and Pakistan, namely Hindus, Sikhs, Buddhists, Jains, Parsis and Christians staying on Long Term Visa (LTV) in India. The move is aimed at easing out the difficulties being faced by them and includes the following:-

n++ Opening of bank account.

n++ Permission for purchase of property for self occupation and suitable accommodation for carrying out self - employment.

n++ Permission to take self employment.

n++ Issue of driving licence, PAN card and Aadhar number.

n++ Allowing free movement within the State /UT where they are staying.

n++ Transfer of LTV papers from one State to other.

n++ Waiver of penalty on non-extension of short term Visa /LTV on time.

n++ Permission to apply for LTV from the place of present residence when the applicants have moved to the place without permission.

In order to facilitate such persons in acquisition of citizenship by amending Citizenship Rules 2009, the provisions will help in the following ways:-

n++ The Collector / DM would be empowered to authorize an officer not below the rank of Sub Divisional Magistrate for administering the oath of allegiance to the applicant.

n++ The powers would be delegated to the Collectors of the following 16 Districts in 7 States for a period of two years for registration as citizens of India.

S. No.

States

Districts

1

Chhattisgarh

Raipur

2

Gujarat

Ahmedabad, Gandhinagar and Kutch

3

Madhya Pradesh

Bhopal and Indore

4

Maharashtra

Nagpur, Mumbai, Pune and Thane

5

Delhi

West Delhi and South Delhi

6

Rajasthan

Jodhpur, Jaisalmer and Jaipur

7

Uttar Pradesh

Lucknow

 

 

 

 

n++ The registration fees for the citizenship of India would be reduced to Rs 100 from the existing range of Rs 3000 - Rs 15000.

Government has taken a number of steps during the last 2 years to facilitate the stay of persons belonging to minority communities of these countries. However, persons belonging to minority communities in Afghanistan, Bangladesh and Pakistan, namely Hindus, Sikhs, Buddhists, Jains, Parsis and Christians staying in India on Long Term Visa (LTV) continue to face difficulties with regard to several aspects of living. The Cabinet approval will help ease out the difficulties faced by them.

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Cabinet approves revised cost estimate of Punatsangchhu-II Hydroelectric Project in Bhutan
Jul 13,2016

The Union Cabinet has given its approval for Revised Cost Estimate (RCE) of Rs 7290.62 crore for the ongoing 1020 MW Punatsangchhu-II Hydroelectric Project (HEP) in Bhutan. The total cost escalation for the project, at this stage, is Rs.3512.82 crore.

The Project will provide surplus power to India and thus augment power availability in the country and would enable project works to proceed smoothly without interruption.

The bilateral agreement to execute the Punatsangchhu-II HEP was signed between India and Bhutan in April, 2010 at the approved cost of Rs. 3777.8 crore (March 2009 price level) with funding by Government of India as 30% grant and 70% loan at 10% annual interest to be paid back in thirty equated semi-annual installments.

The factors behind cost escalation are due to inflation from March 2009 to March 2015, change in surface power house to underground power house, increase in capacity from 990 MW to 1020 MW, additional requirements due to Bhutans National Transmission Grid Master Plan and adverse geological condition encountered during the project.

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Cabinet approves Pradhan Mantri Kaushal Vikas Yojana
Jul 13,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) with an outlay of Rs 12000 crore to impart skilling to one crore people over the next four years (2016-2020). PMKVY will impart fresh training to 60 lakh youths and certify skills of 40 lakh persons acquired non-formally under the Recognition of Prior Learning (RPL). The target allocation between fresh trainings and RPL will be flexible and interchangeable depending on functional and operational requirements.

The Scheme, completely aligned to the Common Norms as notified earlier, would move to a grant based model where the training and assessment cost would be directly reimbursed to training providers and assessment bodies in accordance with the Common Norms.

Financial support to trainees will be given in the form of travel allowance, boarding and lodging costs. Post placement support would be given directly to the beneficiaries through Direct Benefit Transfer (DBT). Disbursement of training cost to training partners will be linked to Aadhaar and biometrics for better transparency and targeting. Skill training would be done based on industry led standards aligned to the National Skill Qualification Framework (NSQF).

In view of the recommendations of the sub group of Chief Ministers on Skill Development regarding the need to address the unique skill requirements of different States, State Governments would be involved through a project based approach under the PMKVY 2016-20 with 25% of the total training targets, both financial and physical, being allocated under this stream of the Scheme. The financial amount/budget for achieving 25% of the total training targets of next phase of PMKVY would be directly allocated to the States.

Mobilisation, monitoring and post training placement of trainees will be done through Rozgar Melas (placement camps) and Kaushal Shivirs (mobilization camps). There will be special focus on placement of trainees with incentives/disincentives linked to placement as envisaged in the Common Norms. A project based approach for Non formal training for traditional jobs is also proposed. PMKVY will, in addition to catering to domestic skill needs, also focus on skill training aligned to international standards for overseas employment in Gulf countries, Europe and other overseas destinations. There will be scholarship for student undergoing training in high end job roles under the Scheme.

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Cabinet approves disinvestment of 15% in NBCC
Jul 13,2016

The Cabinet Committee on Economic Affairs (CCEA) has approved the disinvestment of 15% paid up equity of National Buildings Construction Corporation (NBCC) out of Government of Indias 90% shareholding.

It would result in estimated receipts of Rs 1706 crore approximately to the Government. However, the actual realization amount will depend upon the market conditions and the investor interest prevailing at the time of actual disinvestment.

The disinvestment would further broadbase NBCCs shareholding and enhance the disinvestment receipts for making them available to the Government for utilization as per Disinvestment Policy. In order to inculcate a sense of belongingness amongst the employees of NBCC, it has also been decided to allot additional shares to the eligible and willing employees at a discount of 5% to the Issue/discovered (lowest cut off) price of the OFS.

NBCC was incorporated on 5th November, 1960 as a wholly owned Government of India enterprise under the administrative control of the Ministry of Urban Development with the objective of becoming a leading company in the field of construction, engineering and project management consultancy services.

The issue and subscribed equity capital as on 31 March 2016 was Rs 120 crore. Government of India holds 90% of the equity i.e. 54 crore share. The face value of each NBCC share is Rs 2. The balance 10% of the equity is held by the Public.

The NBCC IPO (Initial Public Offer) was launched in March 2012, when the GoI divested 10% paid up equity capital of NBCC out of its 100% shareholding and got the Company listed on the stock Exchanges. The GoI realised Rs 124.97 crore as proceeds towards the share sale.

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Cabinet approves revival of defunct Fertilizer Units in Gorakhpur, Sindri and Barauni
Jul 13,2016

The Union Cabinet has approved the revival of defunct Fertilizer Units in Gorakhpur, Sindri and Barauni. These include two closed urea units of Fertilizer Corporation India (FCIL) at Sindri (Jharkhand) and Gorakhpur (Uttar Pradesh) and Barauni (Bihar) unit of Hindustan Fertilizers Corporation (HFCL). These three fertilizers units would be revived by means of Special Purpose Vehicle (SPV) of Public Sector Units (PSUs) namely, National Thermal Power Corporation (NTPC), Coal India Limited (CIL), Indian Oil Corporation Limited (IOCL) and FCIL/HFCL, through nomination route.

The setting up of new units at Sindri, Gorakhpur and Barauni will meet the growing demand of urea of Bihar, West Bengal and Jharkhand. It will also ease the pressure on railway and road infrastructure due to long distance transportation of urea from Western and Central Regions and thereby saving in Govt. subsidy on freight. It will also accelerate the economic development of the region. Apart from growth of regional economy, this unit will create opportunities for 1200 direct and 4500 indirect employments.

GAIL (India) has planned to lay a gas pipeline from Jagdishpur to Haldia. These units will serve as anchor customer for this pipeline and ensure its viability. Commissioning Jagdishpur-Haldia gas pipeline (JHPL) is important for development of critical infrastructure in Eastern India and will have multiplier effect on economic growth of the region.

The CCEA earlier had approved gas pooling for urea sector which will enable these units to get gas at pooled price on its revival which will make the urea units globally competitive.

These units were lying defunct since their closure during 1990-2002. Therefore, the units and other associated facilities were lying unutilized. It is important to mention here that there is no functional urea unit in the Eastern part of the country except two small units at Namrup (Assam). Earlier in 2015, Government had approved revival of these three units through bidding route. However, the bidding process could not be carried forward due to receipt of only one application each against Request for Qualifications (RFQs) for revival of Gorakhpur and Sindri units of FCIL.

The annual consumption of urea in the country is approximately 320 lakh tonnes, out of which 245 lakh tonnes are produced indigenously and rest is imported. To enhance the production of urea indigenously, Govt. had earlier also approved the revival of Talcher (Odisha) & Ramagundam (Telangana) units of FCIL by PSUs through nomination route.

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Indias industrial production rises 1.2% in May 2016
Jul 12,2016

Indias industrial production (IIP) increased 1.2% in May 2016 over May 2015, while snapping 1.4% dip recorded in the previous month. The manufacturing sector production rebounded 0.7%, after two months of decline, contributing to the rise in industrial output in May 2016. The mining output rose 1.3% in May 2016, but the electricity generation growth eased to five-month low of 4.7%.

As per the use-based classification, the basic goods output moved up 4% in May 2016 over a year ago, while the output of intermediate goods moved up 3.6%. The consumer goods output moved up 1.1%, but that of capital goods plunged 12.4% in May 2016. Within consumer goods, the production of consumer durables increased 6%, but that of consumer non-durables declined 2.2% in May 2016.

The IIP growth in April 2016 has been revised downwards to (-) 1.4% in the first revision compared with (-) 0.8% reported provisionally. Meanwhile, the growth in February 2016 has also been revised downwards to 1.9% at the final revision from 2% at first revision as well as reported provisionally.

In terms of industries, fourteen (14) out of the twenty two (22) industry groups in the manufacturing sector have shown positive growth during the month of May 2016 as compared to the corresponding month of the previous year.

The industry group office, accounting & computing machinery has shown the highest positive growth of 18.8% followed by 14.8% in machinery & equipment and 10.1% in medical, precision & optical instruments, watches and clocks.

On the other hand, electrical machinery & apparatus has shown the highest negative growth of (-) 41.1%, followed by (-) 8.1% in furniture; manufacturing and (-) 7.6% in luggage, handbags, saddlery, harness & footwear; tanning and dressing of leather products.

Some important items that have registered high positive growth include woollen carpets 67.0%, di ammonium phosphate 59.3%, aviation turbine fuel 48.2%, air conditioner (room) 38.6%, scooters and mopeds 32.1% and petrol 20.2%.

Some important items showing high negative growth during the current month over the same month in previous year include cable, rubber insulated (-) 89.8%, sugar (-) 69.1%, aluminium foils (-) 65.8%, polythene bags including HDPE and LDPE bags (-) 48.9%, cement machinery (-) 48.5%, marble tiles/ slabs (-) 44.5%, HR sheets (-) 39.9%, cashew kernels (-) 27.5% and vitamins (-) 25.6%.

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CPI inflation flat at 5.77% in June 2016
Jul 12,2016

The all-India general CPI inflation was flat at 5.77% in June 2016 (new base 2012=100), compared with similar reading of 5.76% in May 2016. The corresponding provisional inflation rate for rural area was 6.20% and urban area 5.26% in June 2016 as against 6.45% and 4.89% in May 2016. The core CPI inflation fell to 4.39% in June 2016 from 4.49% in May 2016. The cumulative CPI inflation rose to 5.67% in April-June 2016 compared with 5.09% in April-June 2015.

Among the CPI components, inflation of food and beverages surged to 7.38% in June 2016 from 7.20% in May 2016 restricting the decline in CPI inflation. Within the food items, the inflation galloped for vegetables to 14.74%, cereals and products 3.07%, sugar and confectionery 16.79% and fruits 2.64%. On the other hand, inflation declined for milk and products 3.43%, non-alcoholic beverages 3.76%, egg 5.51%, meat and fish 6.60%, and pulses and products 26.86% in June 2016.

The inflation for housing rose to 5.46%, while that for miscellaneous items declined to 3.85% in June 2016. Within the miscellaneous items, the inflation for health eased to 4.73%, education 5.36%, household goods and services 4.38%, personal care and effects 5.85%, and recreation and amusement 4.19%, while increased for transport and communication to 1.15% in June 2016.

The inflation for clothing and footwear declined to 5.01% in June 2016, while the CPI inflation of fuel and light also eased to 2.92% in June 2016.

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Foreign tourists arrival on e-Tourist Visa surges 138% in June 2016
Jul 12,2016

A total of 36,982 tourists arrived in June 2016 on e-Tourist Visa as compared to 15,557 during the month of June 2015 registering a growth of 137.7%. The Government of India has extended e-tourist visa scheme for citizens of 37 more countries w.e.f 26 February 2016 taking the tally to 150 countries.

In January- June 2016, a total of 4,71,909 tourist arrived on e-Tourist Visa as compared to 1,26,214 during January-June 2015, registering a growth of 273.9%.

This high growth may be attributed to introduction of e-Tourist Visa for 150 countries as against the earlier coverage of 76 countries.

The percentage shares of top 10 source countries availing e-Tourist Visa facilities during May, 2016 were as follows: USA (23.22%), UK (14.16%), China (6.91%), Australia (5.59%), France (4.10%), Germany (4.03%), Canada (4.02%), Singapore (2.62%), Malaysia (2.53%) and Spain (2.40%).

The percentage shares of top 10 ports in tourist arrivals on e-Tourist Visa during June, 2016 were as follows: New Delhi Airport (42.15%), Mumbai Airport (22.94%), Bengaluru Airport (9.95%), Chennai Airport (9.80%), Hyderabad Airport (3.76%), Kochi Airport (3.52%), Kolkata Airport (2.72%), Ahmadabad Airport (1.16%), Tiruchirapalli Airport (1.15%) and Trivandrum Airport (1.08%).

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Indias fuel product sales rise 6.2% in June 2016
Jul 12,2016

Indias fuel product consumption or sales increased 6.2% to 15.65 mt in June 2016 over a year ago. Petcoke sales jumped 27.3% to 1.61 mt, while naphtha sales galloped 15.6% to 1.19 mt. Sales of LPG advanced 8.5% to 1.61 mt and diesel improved 1.5% to 6.39 mt. Consumption of fuel oil gained 17.3% to 0.60 mt, while that of petrol jumped 4.4% to 1.85 mt. The consumption of ATF moved up 10.8% to 0.54 mt, and bitumen 10.1% to 0.50 mt.

However, the consumption of light diesel oil declined 9.8% to 0.04 mt, lubes/greases 5.6% to 0.27 mt, others 4.3% to 0.53 mt, and kerosene 5.9% to 0.53 mt in June 2016.

Consumption or sales of fuel product increased 7.8% to 48.46 mt in April-June 2016 over April-June 2015. Sales of diesel increased 4.7%, petcoke 21.0%, petrol 10.0%, and fuel oil 22.9%. Consumption of LPG also moved up 7.8%, naphtha 7.7%, bitumen 13.9%, ATF 12.0%, lubes/greases 3.6% and light diesel oil 17.2%, but declined for others 2.1% and kerosene 7.7% in April-June 2016.

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Worldwide PC shipments declines 5.2% in Q2 of 2016: Gartner
Jul 12,2016

Worldwide PC shipments totaled 64.3 million units in the second quarter of 2016, a 5.2% decline from the second quarter of 2015, according to preliminary results by Gartner, Inc. This was the seventh consecutive quarter of PC shipment declines, but Gartner analysts said the market is showing some signs of improvement.

One of the ongoing problems in the PC market has been the price hike in selected regions due to the weakening local currency against the U.S. dollar, said Mikako Kitagawa, principal analyst at Gartner. The price issue has impacted the EMEA and Latin America regions for the past year. However, PC shipment declines became rather modest in the second quarter compared with previous quarters, which suggests a fading currency impact.

All regions except North America experienced a PC shipment decline. The Latin America region was still very weak largely because of political and economic instability. PC shipments in Latin America are expected to fall below 5 million units for the second quarter of 2016, which is a decline of more than 20% from the second quarter of 2015. These shipment results would be some of the lowest in the history of the Latin America PC industry.

While the U.K.s vote to exit the European Union did not have a major impact in the worldwide PC results in the second quarter of 2016, Gartner analysts said Brexit could potentially create uncertainty, not only in currency, but also the entire economy beyond Europe.

Lenovo maintained the No. 1 position in worldwide PC shipments in the second quarter of 2016, despite a 2.2% decline in units from the same period last year (see Table 1). This was the fifth consecutive quarter of global PC shipment declines for Lenovo. The company experienced double-digit growth in the U.S. mobile PC market, but EMEA continued to be a challenge due to inventory build during the quarter. In Asia/Pacific, Lenovos shipments declined, but the decline was less than the overall average in the region.

Table 1: Preliminary Worldwide PC Vendor Unit Shipment Estimates for 2Q16 (Thousands of Units) Company 2Q16 Shipments2Q16 Market Share (%)2Q15 Shipments2Q15 Market Share (%)2Q16-2Q15 Growth (%)Lenovo1319820.51349119.9-2.2HP Inc.1228419.11206317.81.8Dell978815.29490143.1Asus46957.346376.81.3Apple45597.147937.1-4.9Acer44176.944016.50.4Others1535423.91897528-19.1Total6429510067851100-5.2Notes: Data includes desk-based PCs, notebook PCs and ultramobile premiums, but not Chromebooks or iPads. All data is estimated based on a preliminary study. Final estimates will be subject to change. The statistics are based on shipments selling into channels.
Source: Gartner (July 2016)

HP Inc. returned to positive growth in the second quarter of 2016 after four consecutive quarters of shipment decline. HP Inc. resolved its inventory buildup, which had slowed its sell-in shipments. HP Inc. did well in EMEA to maintain the top position, but it was not able to surpass Dell in the U.S.

Dell grew faster than the industry average in all regions in second quarter of 2016. Dell did especially well in the U.S., Latin America and Japan markets. Mobile PC shipments grew across all regions except EMEA, while its desktop PC shipments declined in most regions.

Asus, Apple and Acer are battling it out for the fourth position in worldwide PC shipments for the second quarter of 2016, as preliminary results get finalized.

In the U.S., PC shipments totaled 15.2 million units in the second quarter of 2016, a 1.4% increase from the second quarter of 2015 (see Table 2). The U.S. PC market had experienced five consecutive quarters of shipment declines. Analysts said there are still opportunities and challenges ahead for the U.S. PC market.

While vendors and channels generally have more optimistic expectations of PC sales compared with the past, there is still a chance to have a potential inventory built. This will depend on how PC market demand picks up in the second half of this year for both the business and consumer segments, Ms. Kitagawa said. The second and third quarter are typically PC buying season for the U.S. public sectors. Positive second-quarter results could suggest healthy PC sales activities among the public sectors. There is an opportunity for a Windows 10 refresh among businesses, which we expect to see more toward the end of 2016 to the beginning of 2017.

Table 2: Preliminary U.S. PC Vendor Unit Shipment Estimates for 2Q16 (Thousands of Units) Company2Q16 Shipments2Q16 Market Share (%)2Q15 Shipments2Q15 Market Share (%)2Q16-2Q15 Growth (%)Dell410527376925.18.9HP Inc.401026.3

Indirect tax collection increases 30.8% in Q1 of FY2017
Jul 08,2016

Indirect tax collection has registered healthy growth of 30.8% for the first quarter of current fiscal FY2017, as compared to the 36.3% growth in the corresponding period of previous financial year.

Once the Additional Resource Mobilization (ARM) is removed, the growth rate in Q1 is 10.2% [Customs: 11.2%, Central Excise: 13.9% & Service Tax: 4.3%].

The  details of Indirect tax revenue collections (provisional) in Q1 of FY2017 against Q1 of FY2016, along with growth rate compared with  the corresponding period of the  previous year is tabulated below as:- 

 Tax HeadBE FY2017  June            April-June% of BE achievementFY2016FY2017% GrowthFY2016FY2017% GrowthCustoms23000017414185076.3474505480815.523.8Central Excise*317000219493098241.2607879122550.128.8Service Tax23100016914182668.0445035375720.823.3Total778000562776775520.415274019979030.825.7* Exclusive of cess administered by other Departments.

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Direct tax collections jumps 24.8% to Rs 1.24 lakh crore in Q1FY2017
Jul 08,2016

The net direct tax collections surged 24.8% to Rs 1.24 lakh crore in the quarter ended June 2016, over the corresponding period last year. The main reason for this increase is the change in the requirements for advance tax payment even in respect of individuals which has been made in the last years Budget. Earlier there were only three installments of advance tax to be paid by individuals in the months of September, December and March. From the current year, individuals are also supposed to pay four installments of advance tax at the rate of 15%, 30%, 30% and 25% in the months of June, September, December and March of every Financial Year.

The collection upto June 2016 indicates that 14.63% of the annual budget target of direct taxes has been achieved in the first three months of the FY2016-17.

In terms of growth rate for corporation tax and personal income tax, the trend in gross revenue of corporation tax is indicating an increase of 13.5% while that of personal income tax (including STT etc.) a growth of 29.8%. However, after adjusting for refunds, the net growth in corporation tax is at 4.43% while that of personal income tax (including STT etc.) at 48.75% as compared to previous year .This increase is mainly due to large refunds made in the previous year as compared to the current year.

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