J P Chawla & Co. LLP

Fineprint Vol.5 2021

India is actively crafting stimulus packages to aid pandemic-battered sectors, fostering economic resurgence. Notable highlights from May 2021 include a robust 51.44% surge in oil meal exports, valued at Rs. 8,850 crore. The IT Department prepares to launch a new e-filing portal on June 7, streamlining taxpayer processes. India and Oman renew military cooperation and maritime MoUs, fortifying bilateral ties. S&P Global identifies India as the APAC’s second-largest insurtech market, attracting significant investments. Despite pandemic hurdles, Indian Railways achieves double-digit freight traffic growth, while the pharmaceutical market rebounds with a 51.5% YoY increase. Additionally, the European Investment Bank allocates EUR 150 million for the Pune Metro Rail project, bolstering infrastructure development. FMCG industry records a commendable 9.4% growth, propelled by rural resilience and metro market recovery.

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