"india-ratings"

"Of the total contracted quantity of 3 billion litres for ethanol supply season 2020-21, 0.8 billion litres of ethanol had been supplied till the first week of March, indicating a blending rate of around 7 per cent

With economic activities reaching pre-pandemic levels, the agency expects the momentum to continue into FY22, backed by a softening of gold prices.

Under the existing Finance Commission (FC) framework, the cesses and surcharges collected by the Centre are not part of the tax devolution.

In January 2021, cotton yarn prices increased 15 per cent MoM and 30 per cent YoY, resulting in higher gross margins.

According to the report, the erstwhile duty structure gave incentives for gold smuggling into India.

Ind-Ra now expects third quarter to see contraction at 0.8 per cent and fourth quarter to print in 0.3 per cent growth as against the earlier expectation of positive numbers only in July-September 2021-22.