As per Higher, Govt Official estimates Indian Economy is set on a trajectory of a stronger recovery from the recent downturn that was caused by the global pandemic. Out of the 22 major economic indicators, the Indian economy has performed positively in 19 of them.
Top Indian Authorities and officials have said that the Indian Economy with its recent positive growth is on a path of stronger and sustainable recovery from the challenges and hurdles that were posed by the Covid pandemic.
According to the sources, the Indian Economy has outperformed in 19 out of 22 major economic parameters and indicators along with an uptrend in the recovery of the economy when compared to the pre-covid levels.
Read More: 1.3 Lakh Aadhaar Data Leaked
Below are the important pointers that are revealed by those expert groups –
# 19 Economic parameters show positive growth in the months of September, October, and November of 2021 when directly compared to the 2019 levels of the same months.
# Major sectors of the economy together showed and registered a positive growth of over 100 percent (in comparison with the same months of 2019). Sectors such as e-way bill, exports, coal production, rail freight registered more than 100 percent recovery. Such promising numbers from various sectors do not just indicate recovery but indicate an all-around economic growth. Multi-sectoral products have also evolved and advanced to counter the corona barrier.
Multi-sectoral analysis –
Goods and Services Tax (GST) collections stood at a record Rs 1,31,526 crore in November 2021. Compared to November 2020 numbers (1.05 lakh crore) which clearly indicates a 25 percent growth in revenue collection and generation for the November month.
In terms of the export numbers, the value of exports increased by 50.71 percent to $ 262.46 billion from $ 174.15 billion in the April-November period of the ongoing fiscal. The IHS Market India Manufacturing Purchasing Managers’ Index (PMI) soared to a ten-month high of 57.6 in November 2021.
Steel consumption, Auto Sales, Air Traffic, Fertilizer sales, power consumption, tractor sales, cement production, port cargo traffic, fuel consumption, air cargo, etc. have all shown positive growth numbers with exponential recovery.
Also Read: Insights from the Key Remarks of Nobel Laureate Abhijit Banerjee on the Country’s Economy
1 Comment