# India-China

• The disengagement at Gogra – hotsprings area will be completed by September 12, days before a possible meeting between Prime Minister Narendra Modi and Chinese president Xi Jinping in Uzbekistan.
• The two sides will cease forward deployment in a “phased, coordinated and verified” Manner, resulting in return of troops to their respective areas.
• All landforms will be restored to their pre standoff period.
• All temporary structures and allied infrastructure will be dismantled and mutually verified.

# Direct tax

• Direct tax collections have shot up 35.5% to nearly 6.5 lakh crore so far in the financial year.
• This is around 37% of the budget estimates for the financial year.
• Refunds amounting to Rs 1.19 lakh crore have been issued during 1st April 2022 to 8th September 2022, which are 65.3% higher than returns issued during the same period in the proceeding year.
• The numbers will provide comfort to policymakers seeking to ensure that fiscal deficits stays within the budgeted level of 6.4% of GDP.

# Car sell

• As the festive season begins in the country, automakers dispatched 2.8 lakh vehicles in August, showing a year on year growth of 21%.
• Improvement in supplies of semiconductor chips as well as continued surge in demands for SUV’s and new models are fuelling the growth.
• The growth in sells is led by companies such as Tata motors, Mahindra &Mahindra, Maruti, Hyundai and Kia.

# Forex reserves

• India’s foreign exchange reserves fell to their lowest in over 23 months on likely dollar sales by the country’s central bank to stem the fall in the local currency.
• The reserves fell over $7.9 billion to $553.2 billion as of September 2.