The Things You Should Know

As per the data released by Ministry of Commerce and Industry t he annual rate of inflation, based on monthly WPI (Wholesale Price Index), stood at  14.23%  (provisional) for the month of November, 2021 (over November, 2020) as compared to 2.29% in November 2020.  The high rate of inflation in November 2021 is primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals and chemical products, food products etc. as compared to the corresponding month of the previous year. Month over Month Change in Major Groups of WPI: Primary Articles (weight 22.62%): -  The index for this major group increased by (5.57%) to 168.6 (provisional) in November, 2021 from 159.7 (provisional) for the month of October, 2021. Prices of Crude Petroleum & Natural Gas (12.24%), Minerals (5.96%), Food Articles (5.81%) and Non-food Articles (2.15%) increased in November, 2021 as compared to October, 2021. Fuel & Power (weight 13.15 %): -The i...

  Ministry of Finance has released the data of gross GST revenue collection for the month of November on 1st of December.  The gross GST revenue collected in the month of November 2021 is  ₹ 1,30,526 crore   of which CGST is   ₹ 23,978 crore , SGST is   ₹ 31,127 crore , IGST is   ₹ 66,815 crore   (including ₹ 32,165 crore collected on import of goods) and Cess is   ₹ 9,606 crore   (including ₹ 653 crore collected on import of goods). The government has settled ₹27,273 crore to CGST and ₹ 22,655 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of November 2021 is ₹ 51,251 crore for CGST and ₹ 53,782 crore for the SGST. Centre has released ₹ 17,000 crore to States/UTs towards GST compensation on 03.11.2021. The revenues for the month of Novem ber 2021 are 25% higher  than the GST revenues in the same month last year and 27% over 2019-20. During the month, ...