IHS Markit’s PMI surveys indicated a strengthening of global economic growth in August, with a broadening out of the recovery by sector evident. Some important sectors, such as autos, real estate, and households goods, are now among the top performers as the easing of lockdowns from the height of the pandemic continues to benefit key parts of the global economy, such as factories, housing markets, construction and high streets. However, many sectors remain in decline due to ongoing social distancing measures, and some waning of performance was also recorded in many sectors in August, casting a shadow over the near-term outlook.

Hard-hit sectors start to enjoy stronger growth

Output rose in 20 of the 26 manufacturing and service sub-sectors covered by the PMIs during August, the highest number since March of last year, indicating a broadening out of the economic recovery.

All manufacturing sectors reported growth, but the picture was

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By Medha Singh

Aug 21 (Reuters)U.S. stock index futures ticked lower on Friday, a day after the tech-heavy Nasdaq closed at a record high, as investors awaited U.S. business surveys for more clues on the economy’s health.

Surveys from the euro zone showed an economic recovery from its deepest downturn on record has stuttered this month, setting up a downbeat tone for IHS Markit’s surveys of the U.S. manufacturing and services sectors due later in the day.

U.S. stocks finished higher on Thursday as investors bet on tech heavyweights including Apple Inc AAPL.O and Amazon.com AMZN.O to ride out the pandemic as U.S. data painted a picture of a wobbly economic recovery.

Investors also worry about a stalemate in talks between House Democrats and the White House over the next coronavirus aid bill as about 28 million Americans continued to collect unemployment cheques.

Earlier this week, the

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The Central Board of Direct Taxes’ (CBDT) order to restrict power to authorise tax survey is being seen as a step in the right direction by tax and legal consultants among others.

Tax survey is basically a mechanism to verify submission by taxpayer for proper assessment.

According to CBDT, as ‘survey action under Section 133 A of the Act’ is an intrusive action, it is expected that it should be carried out with utmost responsibility. Accordingly, the Board directed that only the officers posted in Directorates of Investigation (Investigation Wing) and Commissionerates of TDS, shall act as “Income Tax Authority” for the purposes of survey.

It means only DGIT (Investigation) and Principal Chief Commissioner /Chief Commissioner (TDS) will approve survey of an assesssee.

On the new platform launched by Prime Minister Narendra Modi, Divakar Vijayasarathy, Founder of DVS Advisors LLP, said this new platform is part of digitalisation of the

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