Did we witness an August welcome for Indian economic recovery in Q2 after unrivalled despondency in Q1?
Check out the latest edition of our Macroeconomics of COVID in India series with @tulsipriya_rk
Industrial production, the growth engine, climbing up to recovery.
Check out the latest edition of our Macroeconomics of COVID in India series with @tulsipriya_rk
Industrial production, the growth engine, climbing up to recovery.
Agriculture- the persistent bright spot. Record kharif area sown, healthy live storage, sustained momentum in procurement and off-take operations by FCI and states @tulsipriya_rk
Strengthening prospects of rural demand-rising sales of commercial and Agri tractors, passenger vehicle sales grow to highest level in July since March, inching very, sales of small cars, two wheelers and SUVs pick up @tulsipriya_rk
Modest resumption in services- PMI services improved to 41.8 in Aug over 34.2 in July, though still contracting @tulsipriya_rk
Rail freight and cargo traffic on upward trajectory, aviation activity picking up. @tulsipriya_rk
V shaped recovery in steel sector, uptick in construction activity @tulsipriya_rk
Power consumption quickly reverting to last year’s baseline reaching 97 per cent of corresponding previous year levels in Aug 2020 @tulsipriya_rk
Sustained impetus in E-way bills generated. Value of e way bills reaching 97.2 per cent of corresponding month of previous year. Number of intra rate e-way bills crossing last year’s count and inter state e-way bills at 89.5 per cent of 2019 levels @tulsipriya_rk
Toll collections on highways picking up pace.
Upbeat digital retail transactions, UPI payments at new high, positive externalities of the pandemic
Exports recovering faster than imports. Food, pharma exports resilient, labour intensive exports like petroleum, gems and jewellery, leather and textiles remained a concern. Gold imports rise sharply. India’s merchandise trade balance went back into deficit in July.
Oscillating recovery of crude oil price in oil markets amid easing OPEC+ supply cuts, dim demand and weather concerns in US markets. Dampened consumption of petroleum products, particularly diesel under seasonal factors, lockdowns,floods.Diesel Vehicle registrations growth weak
Overall credit growth muted, credit for Agri, large industry and MSEs improve, services credit growth robust. @tulsipriya_rk
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