Urban demand moderates, rural demand shows improvement: RBI Bulletin
As per the RBI Bulletin, high-frequency indicators for May present mixed signals on aggregate demand. Urban demand showed signs of moderation as passenger vehicle sales declined with a sharp drop in entry-level segment.
However, rural demand improved as evident from the increase in the retail sales of two-wheelers. During May 2025, household demand for work under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) picked up, following the pursuit of alternative avenues for employment in the pre-sowing lean agricultural period and an increase in MGNREGS wage rates.
Petroleum consumption expanded for the first time in the last four months, driven by petrol. Unseasonal rains and premature onset of monsoon, however, led to a reduction in electricity demand.
Overall economic activity remained robust in May 2025, with key high-frequency indicators like E-way bills, Goods and Services Tax (GST) revenue, toll collections, and digital payments showing strong growth.
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Time of India
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CM Yogi Adityanath pays tribute to philanthropist, Bhamashah (Image credits: ANI) LUCKNOW: Chief minister Yogi Adityanath paid tribute to philanthropist and businessman Bhamashah on his birth anniversary and conferred the Bhamashah Samman to leading traders and businesspersons from across the state who have significantly contributed to Uttar Pradesh's economy by consistently paying high revenue taxes. Speaking on the occasion, he underscored the importance of recognising the business community's role and said, "... Not only in Lucknow but in all districts of the nation, businessmen paying high GST should be facilitated on this day. Businessman who did the GST registration but later became the victim of any mishap, then they are secured with the cover of Rs 10 lakh by the National Traders Welfare Board..." An exhibition highlighting key moments from Bhamashah's life and his enduring contributions to society was also inaugurated and observed by CM Yogi. Further in a post on X CM wrote, "On the eve of the birth anniversary of the great son of Mother India, the philanthropist Bhamashah Ji, I participated in an event organized in Lucknow today, where I honored the highest revenue-paying traders with the Bhamashah Award and also felicitated traders who have made special contributions to society." "To express gratitude for Bhamashah Ji's unparalleled sacrifice and patriotism, 'Traders' Welfare Day' should be organised every year on 29 June. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo I offer my heartfelt salutations to Bhamashah Ji, the symbol of charity, righteousness, and patriotism! Heartiest congratulations to all the trader brothers, the pillars of the state and nation's economic prosperity," he added. Apart from this, while taking a jibe at the opposition, the CM said, "How long will people keep dividing the country for vote bank? They are the same people who used to bow down in front of the mafia every opportunity they got... These people used to mortgage their power to the mafia... They used to extort money in the name of jobs. Now, when their business of extortion has stopped, they are causing rifts in the name of caste. .. I say this again and again- 'Batoge to Katoge' and 'Ek Rahoge to Nek Rahoge'."
India Gazette
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Time of India
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