India’s Manufacturing Sector Gains Momentum in October

India’s Manufacturing Sector Gains Momentum in October
New Delhi, Agency: After hitting an eight-month low in September, the growth rate of India’s manufacturing sector picked up in October, reaching 57.5. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) rose from September’s low of 56.5 to 57.5 in October, indicating gradual and accelerated improvement in operating conditions.
S&P Global's Chief Economist, Pranjul Bhandari, commented, “India’s key manufacturing PMI showed substantial growth in October due to consistent improvements in economic conditions.” The increase in orders and strong international sales highlight a robust demand for manufacturing.

Key Highlights:
•    PMI Index Recovery: The PMI index rebounded from an eight-month low of 56.5 in September to 57.5 in October.
•    Strength in Manufacturing Demand: New orders and international sales continue to increase, indicating strong demand for Indian manufactured goods.
The rising demand for Indian products, coupled with the success of production initiatives, has boosted output performance. Additionally, increased orders and a notable rise in international demand in October signify strengthened growth in the manufacturing sector.

 

Daily Fines for Violation of the Lift Act
Strict Action
Every society in the district must now register lifts in their buildings, with records kept of all inspections. A five-member committee will inspect these records quarterly, and if any violation of the Lift Act is found, daily fines will be imposed on defaulters.
District Magistrate Manish Kumar Verma chaired the first meeting of the five-member committee on Tuesday, which aims to address the issues of malfunctioning and stuck elevators that have resulted in frequent complaints. Chief officials from the construction, electricity, and authority departments were present.
The new Uttar Pradesh Lift and Escalator Act of 2024, set to take effect from January 10, mandates that all lifts and escalators undergo maintenance and adhere to safety standards. Societies, sectors, malls, hospitals, and hotels are instructed to register their lifts to avoid fines.

Penalties for Non-Compliance
•    7 days: ₹100 per day for violations lasting up to 7 days.
•    Over 7 days and up to 15 days: ₹200 per day.
•    15 to 30 days: ₹500 per day.
•    Beyond 30 days: ₹1,000 per day.
In response to a recent incident where a woman lost her life in a lift accident in Greater Noida, new guidelines have been implemented to ensure safety. It was noted that many societies have not registered their lifts, contributing to maintenance negligence. Every lift must now be registered free of charge with the local administrative office to prevent such incidents in the future.
Free Registration Anyone can apply for free registration under the Lift Act at the district office, with inspections conducted by both the administration and electricity department officials in case of an accident.