Top headlines: Farmers agree to talks; GST collections cross Rs 1 trn again

GST collections top Rs 1 trillion in November for second straight month, labs find lower Covid RT-PCR test pricing unviable, and more top headlines of the day

Oyo has $1 billion fund until IPO

Ritesh Agarwal, founder and chief executive officer of Oyo Hotels, told employees the Indian startup is making progress in recovering from the coronavirus fallout and has about $1 billion to fund operations until an initial public offering. Read here

November GST collections top Rs 1 trn

Goods and services tax collections surpassed Rs one trillion for the second month straight in November. The mop up was Rs 192 crore less at Rs 1.049 trillion in November compared to Rs 1.051 trillion in October. This is the straight third month when the collections rose year-on-year. November collections were 1.42 per cent higher than the same month of the previous year. That way, the yearly growth came down from 10.25 per cent in October and 3.87 per cent in September. Read here

Factory activity falters

India’s manufacturing activity growth lost pace and fell to a three month low in November owing to slow expansion in factory orders and exports, according to a private survey. The IHS Markit India Manufacturing Purchasing Managers Index (PMI) fell from over a decade high of 58.9 in October to a three-month low of 56.3 in November, indicating a sustained recovery in the production sector despite some slowdown in momentum. Read here

Farmers unions, ministers begin talks

Government ministers and farmers on Tuesday evening began talks in Delhi as protests against new agricultural laws continued outside Delhi, media reports said. Read here

Labs find lower Covid RT-PCR test pricing unviable

While the move by state governments to cap the maximum price for Covid RT-PCR test might have made them more affordable for the public, the labs say it will not be a viable business and will lead to losses. In fact, smaller labs may opt out of Covid testing at lower prices, industry experts say. Read here