Index of Eight Core Industries rises in May; electricity, coal, steel and natural gas drove production growth.
The combined Index of Eight Core Industries rose provisionally by 6.3% in May 2024 with a provisional cumulative growth of 6.5% for April-May 2024 25. Electricity, coal, steel, natural gas and refinery products led positive year on year growth, while cement, crude oil and fertilizers declined. Data for March-May 2024 are provisional and subject to revision; the index uses base year 2011 12=100 and includes methodological notes on renewable electricity and a new steel product category.

Transitional approach on equalisation levy extended, preserving bilateral terms and suspending trade measures pending Pillar One finalization.
India and the United States have agreed to extend the bilateral understanding that aligns with the October 21 political compromise and preserves all terms of the transitional approach regarding India's 2% equalisation levy on e commerce supply of services, continuing the suspension of trade measures until June 30, 2024, while Parties coordinate with Inclusive Framework efforts to finalize the Pillar One multilateral convention and pursue resolution of outstanding issues through constructive dialogue.

Data-driven decision-making promoted through national Statistics Day, highlighting a new official data portal and SDG indicator releases.
June 29 is designated Statistics Day with the 2024 theme Use of data for decision making to advance public awareness and evidence based policy. The national event features senior speakers, stakeholder participation, live webcasting and a technical session. Operational outcomes include felicitating essay competition winners, releasing the SDG National Indicator Framework Progress Report and related data products, and launching the eSankhyiki data portal and Central Data Repository for dissemination of official time series macro indicators and the Ministry's data catalogue.

PM GatiShakti principles guide integrated infrastructure planning to evaluate major rail and industrial cluster projects for connectivity.
Under PM GatiShakti principles, the Network Planning Group evaluated two Energy Mineral Cement Corridor railway expansions to increase section capacity and six NICDC projects comprising Integrated Manufacturing Clusters and industrial areas designed with Industry 4.0 features, strategic transport connectivity, and supporting social and logistics infrastructure. Appraisal focused on integrated planning, reduced transit costs, socio economic benefits, employment generation, and alignment with national infrastructure priorities to bolster regional industrial development and logistics efficiency.

Payroll reporting uses EPF, ESI and NPS subscriber data to indicate employment trends; data provisional pending source updates.
Ministry of Statistics & Programme Implementation is releasing payroll reporting of formal-sector employment from September 2017 onwards using subscriber counts under the Employees' Provident Fund, Employees' State Insurance, and National Pension Scheme; the January-April 2024 report is available online and the data are provisional and subject to revision by the source agencies.

Merger control approval: acquisition of equities in poultry producer cleared after combination via primary subscription and secondary purchase.
Competition authority approval was granted for Mitsui & Co., Ltd.'s acquisition of certain equity shares in Sneha Farms Private Limited by a combination of primary subscription and secondary purchase. The notification covered Mitsui as a diversified global trading and investment company acquiring shares in Sneha Farms, an Indian poultry-sector firm with subsidiaries engaged in poultry breeding, hatcheries, feed manufacturing, processing of chicken products, and related feed and pet-food activities. A detailed order from the authority will follow.

Competition approval granted for Coforge's acquisition of Cigniti, subject to mandatory SEBI SAST open offer compliance.
CCI approved Coforge Limited's proposed acquisition of a majority stake in Cigniti Technologies Limited pursuant to share purchase agreements and a mandatory open offer in accordance with SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011, as part of the Proposed Combination.

Agriculture output statistics show shifting shares among crops, livestock, forestry and fishing and rising livestock and aquaculture output.
The National Statistical Office released the Statistical Report on Value of Output from Agriculture and Allied Sectors 2024, presenting detailed 2011 12 to 2022 23 time series and sectoral shares at constant prices. It highlights that cereals and fruits & vegetables together dominate crop output with fruits & vegetables surpassing cereals by 2022 23; livestock output rose steadily with milk, meat and eggs as principal components and geographic concentration of production; forestry output is principally industrial wood, fuelwood and non timber products; and fishing and aquaculture showed sustained growth with a leading state increasing its share.

Digital fund flow under MPLAD scheme streamlines authorizations and payments via e-SAKSHI portal, enhancing transparency nationwide.
Revised MPLAD fund-flow is digitized through the e-SAKSHI portal: annual entitlements are authorized upfront, MPs digitally recommend projects via OTP or mobile app, District Authorities sanction and verify completion, and payments are made directly to Implementing Agencies upon upload of completion proofs; real-time dashboards enable stakeholder visibility and reduce administrative pre-conditions.

Bilateral trade and investment cooperation expanded via joint working group, advancing UPI integration, pharma recognition and investment ties.
Institutionalised bilateral cooperation through the India Cambodia Joint Working Group on Trade & Investment aims to deepen trade and investment ties by diversifying the trade basket and promoting investment. The meeting prioritised exploring a Bilateral Investment Treaty, recognition of the Indian Pharmacopoeia and pharma collaboration, UPI based digital payment integration to facilitate trade and tourism, and cooperation in Traditional Medicine and e governance, with commitment to intensified institutional coordination to implement these initiatives.

Asset monetisation via a structured national pipeline promotes publication of asset lists and valuation assumptions to boost investor participation.
The National Monetisation Pipeline is a four year programme coordinating Ministries and Central public entities to identify and monetise core government assets against specified annual targets, with publication of indicative asset lists and valuation assumptions to promote investor planning, enhance bidding outcomes, and channel increased private investment into infrastructure, including coal assets that may support energy security.

Household Consumption Expenditure Survey data: conference presenting MPCE estimates and unit level data for user engagement.
The statistical agency released detailed unit level results from the Household Consumption Expenditure Survey, including Monthly Per Capita Consumption Expenditure estimates and distributions; a one day data user conference will present concepts, definitions, key results, use of multipliers, and data quality issues, followed by an open discussion for user feedback and stakeholder engagement.

Integrated infrastructure planning under PM GatiShakti promotes multimodal alignment and enhances regional connectivity and socio economic benefits.
The Network Planning Group evaluated three transport projects-a 51 km highway upgrade in Jammu & Kashmir, an 83.17 km third rail line in Andhra Pradesh, and a 12.75 km elevated Pune metro extension-for conformity with PM GatiShakti National Master Plan principles, focusing on integrated planning, multimodal coordination, land and infrastructure needs, improved connectivity, reduced transit costs, and anticipated socio economic benefits.

Unincorporated sector growth signals employment and GVA increases, driven by services and manufacturing expansion post pandemic.
The ASUSE release records expansion in unincorporated non agricultural establishments, employment and Gross Value Added, with services showing the strongest establishment and employment growth and manufacturing contributing substantially to GVA gains. The survey notes pandemic related distortion in early 2021-22 canvassing and recovery thereafter. ASUSE covers rural and urban India for manufacturing, trade and other services, employs a multi stage stratified sampling design with establishments as ultimate units, and shifted from pen and paper interviews to computer assisted interviewing between the two reference periods.

Wholesale Price Index shows a year on year inflation uptick in May driven by food and manufacturing price rises.
Wholesale Price Index for May 2024 records a provisional annual inflation rate of 2.61% (base 2011 12), driven mainly by increases in food articles and manufactured food products; Primary Articles rose month over month, Fuel & Power declined, and Manufactured Products showed a modest rise with mixed subgroup performance. May WPI is provisional (response rate 88.8%) and subject to revision; annexes present detailed indices and six month trends.

Public Private Partnership model urged to strengthen coordination, R&D and full use of PLI and SCALE to boost exports.
Minister directed strengthened interdepartmental coordination, prioritisation of Research & Development and a reinforced Public Private Partnership model, mandated follow-up meetings to finalise policies, and urged full utilisation of SCALE and PLI schemes to boost local value-add, exports and domestic production while stressing data transparency and quality as core administrative principles.

Assumption of charge signals renewed focus on commerce and industry policy and expanded opportunities for youth and citizens.
Assumption of charge of the Ministry of Commerce and Industry by Union Minister Piyush Goyal marks an administrative leadership transition with senior departmental officials present, identifying the leadership responsible for advancing commerce and industry agendas. The Minister emphasised priorities of creating opportunities for youth, promoting welfare objectives under a development oriented governance agenda during the Amrit Kaal, and pursuing rapid advancement in commerce and industry guided by a collective governance philosophy.

Ministerial appointment: Minister of State takes charge of commerce and industry with formal handover and welcome.
Ministerial appointment: Shri Jitin Prasada assumed office as Minister of State in the Ministry of Commerce and Industry, with a formal handover and welcome attended by the Union Minister and senior departmental secretaries and officers.

Tax devolution instalment increases central fiscal transfers to States to accelerate development and capital spending.
An additional tax devolution instalment was released in June 2024, supplementing the regular monthly devolution to States for FY2024-25 to accelerate development and capital spending. The release is made pursuant to the Interim Budget provision for devolution and is distributed on a state-wise basis, with the press release disclosing individual state allocations and the cumulative amount devolved to States up to 10 June 2024.

Accreditation framework strengthened to promote quality and reinforce national third party accreditation systems across sectors.
The note stresses reinforcement of the national accreditation framework through nationwide events promoting accreditation's role in quality improvement. It identifies national laboratory and conformity assessment accreditation schemes as the backbone of third party accreditation, participating in international multilateral recognition arrangements and maintaining extensive accredited networks. QCI, established in 1997 by government and industry, is described as the apex organisation responsible for establishing and operating the third party national accreditation system and advising stakeholders on quality matters.