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#EconomicUpturn
It's not just hope, its figures!
India’s economic indicators telling a story—of growth, recovery, robustness
A 7.2 % growth coming on top of a base of 9.1% is a creditable performance, and a deeper look at the data revealed it to be true.
theprint.in/opinion/newsma…
It's not just hope, its figures!
India’s economic indicators telling a story—of growth, recovery, robustness
A 7.2 % growth coming on top of a base of 9.1% is a creditable performance, and a deeper look at the data revealed it to be true.
theprint.in/opinion/newsma…
Those who said the 7.2% growth was lower than last year's 9.1% omitted to add that 9.1% growth was on the back of pandemic year 2020-21 during which our economy contracted.
Also the Govt. managed the fiscal deficit at 6.3%, the target it set for 2023-23.
Also the Govt. managed the fiscal deficit at 6.3%, the target it set for 2023-23.
The manufacturing sector which grew at a just 1.3% for the full 2022-23, picked up pace at 4.5% in the last quarter, which hopefully signals an upturn in 2023-24.
Spending is still worryingly lower but there is enough anecdotal evidence to show the better-off are splurging.
Spending is still worryingly lower but there is enough anecdotal evidence to show the better-off are splurging.
The PMI in May showed 58.7 which was the strongest it has been since October 2020.
"GST revenue for May, at Rs 1.57 lakh crore, was the fourth-highest it has ever been. Coming on top of April’s Rs 1.87 lakh crore– it showed both increased sales of goods & services & compliance.
"GST revenue for May, at Rs 1.57 lakh crore, was the fourth-highest it has ever been. Coming on top of April’s Rs 1.87 lakh crore– it showed both increased sales of goods & services & compliance.
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