Arihant’s Value Plus – June 2019 – Monthly Investment Newsletter

Arihant’s Value Plus – June 2019

For the third month in a row, government has managed to collect over Rs 1 lakh crore in Goods and Services Tax (GST). India’s gross GST revenues in month of May, 2019 stood at Rs 1,00,289 crore compared to Rs 1.13 lakh crore in the month of April. However auto sales continued to face pressure due to weak buyer sentiment. Passenger vehicle sales declined 19% YoY, while two wheelers sales were flat (-0.4% YoY). Overall there was a clear sign of slowdown in the economic activity as can be seen from the GDP numbers, with GDP growth for the fiscal fourth quarter (Q4FY19) coming in at 5.8%, a five-year low. Now that the ruling party has got a second term in office, markets are hoping the government will fix what is broken and infuse life into the economy. The surge of stock indices to all-time highs shows that markets are confident of growth-boosting measures.