Signs of recovery in economy, government needs to take more steps: Report

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Signs showing recovery of economy: Report- India TV Paisa
Photo:BALANCE Signs showing recovery of economy: Report

New Delhi: The economy was in trouble for six months due to a stringent lockdown to prevent the corona virus epidemic. Some early data are now indicating that the economy is in a state of improvement, although this improvement is still weak. This information is given in a report. According to a report by Brickwork Ratings, “After six months of difficulties due to the toughest lockdown yet, there is finally some good news for the economy.” Some high-frequency signals indicate an improvement in the economy. ”

It is estimated that if the government does not take any immediate steps to support the economy, it may fall by 13.5 percent in the September quarter and about 9.5 percent in the current financial year. 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. This is the biggest boom in eight years. The collection of Goods and Services Tax (GST) increased by 3.8 percent to Rs 95,480 crore as compared to September last year.

It was 10 percent higher than in August 2020. Sales of passenger vehicles have also registered a growth of 31 percent. Railway freight has also increased by 15 percent. Export of goods has also increased by 5.3 percent after a gap of six months. The ratings agency said, “However, there are signs that the correction is soft.” Capital expenditure on new projects declined by 81 per cent during the second quarter compared to the same period last year. This shows a steady decline in investment.

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