Mumbai According to a report by Brickwork Ratings, there is some good news for the Indian economy in the second quarter (July-September) of FY 2020-21.…
Mumbai According to a report by Brickwork Ratings, there is some good news for the Indian economy in the second quarter (July-September) of FY 2020-21. Some high-frequency indicators indicate an improvement in the economy.
According to the report released by Brickwork on Saturday, if the government does not take any step to support the economy immediately, it may fall by 13.5 per cent in the September quarter and about 9.5 per cent in the current financial year. It may be noted that the Indian economy recorded a decline of 23.9 per cent in the first quarter.
Meanwhile, there has been a sharp improvement in the Manufacturing Management Index (PMI) of manufacturing. The index was 52 in August, reaching 56.8 in September. Actually, this is the biggest boom in eight years. At the same time, the collection of Goods and Services Tax (GST) increased by 3.8 percent to Rs 95,480 crore as compared to September last year, which was 10 percent more than in August 2020.
Apart from this, there has also been a 31 per cent increase in sales of passenger vehicles. Railway freight has also increased by 15 percent. At the same time, exports of goods have also increased by 5.3 per cent after a gap of six months.
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