Expectations of GDP growth in Q3, Q4 becoming strong: PHDCCI

Economy


NEW DELHI: Expectations that the country’s GDP would record growth in the third and fourth quarters of 2020-21 are getting stronger on account of various reforms undertaken by the government in the last ten months, PHDCCI said on Saturday. It said out of the 10 indicators of QET (Quick Economic Trends) of economic and business activity tracked by PHDCCI, nine have performed positive.

The Indian economy shrunk by a record 23.9 per cent in June quarter and saw a contraction of 7.5 per cent in second quarter.

“On the back of various reforms undertaken by the government in last 10 months along with a demand boosting and investment inducing Budget, the expectations of a positive GDP growth in Q3 and in Q4 FY 2020-21 are becoming strong,” it added.

Loading...

It said that economic and business indicators such as unemployment rate, stock market, GST collections, manufacturing PMI, forex reserves, railway freight, merchandise exports, exchange rate and passenger vehicle sales have shown positive sequential growth in January as compared with December 2020.



Source link

Articles You May Like

Copper prices on fire: India’s import bill could rise by 35% in 2021
Klarna to raise $1 billion at $31 billion valuation
PPP loan rules and priority window excites and confuses small firms
Fed policy changes could be coming in response to bond market turmoil, economists say
J&J board member says 20 million Covid vaccine doses will be delivered by the end of March

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading...