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Business risk environment deteriorates in Jan-Mar: Report
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SME Times News Bureau | 18 May, 2021
The business risk environment in India deteriorated in the fourth
quarter of FY 2021, according to a Quarterly Risk Transition Report by
Rubix Data Sciences.
It noted that the Rubix GST Compliance Score
of 2,292 business entities (22 per cent of the total number being
monitored) deteriorated between Q3 FY 2021 and Q4 FY 2021.In the prior
quarter, only 8 per cent of the business entities had witnessed a drop
in their Rubix GST Compliance Score.
"This indicates a deterioration in the risk environment in India in Q4 FY 2021 compared with the prior quarter," it said. The report was prepared on the basis of 10,193 business entities from more than 35 sectors of the economy.
Further, the Rubix Provident Fund Compliance Score of 29 per cent of
the business entities being monitored deteriorated between Q3 FY 2021
and Q4 FY 2021 compared with the prior quarter where only 13 per cent of
the business entities witnessed a drop in their Rubix PF Compliance
Score.
The deterioration in the Rubix PF Compliance Score of a
significantly higher percentage of business entities in Q4 FY 2021 as
compared with Q3 FY 2021, underscores the current challenges to the
financial health of business entities in India.
The higher degree
of non-compliance of business entities with PF filing requirements
implies further hardship for employees in the short run, it said.
Further,
the external credit ratings of 7 per cent of the business entities
deteriorated between Q3 FY 2021 and Q4 FY 2021, compared with only 2 per
cent in the prior quarter.
"This raises concerns about
corporate risk levels in Q1 FY 22 (April - June 2021) when the impact of
the second wave of Covid will play out in the broader economy," it
said.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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