Indian economy is picking up pace. Here are the tell-tale signs of an upswing

Economy


A few macroeconomic and industry variables have begun to show noticeable growth while many others are on the mend as the Covid-19 pandemic shows signs of abating. If the current trend of moderation in cases is sustained, recovery could gather pace and yield a possible GDP upgrade — which would mean a smaller contraction in FY21 than forecast. Ashutosh R Shyam of ET Intelligence Group looks at the numbers.

Untitled-7Agencies

HOME BUYING UP

Average daily property registration in Maharashtra at3,936 in Sept, highest since May 2019

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RETAIL PAYMENTS SPIKE

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  • UPI, IMPS transactions at record high in Sept
  • Avg UPI transactions in past 3 mths at Rs 3.29 L cr against Rs 1.96 L cr in the previous 12 months

HIGHER E-WAY BILL AND TOLL COLLECTION

  • E-way bill volume rose 9.6% YoY to 57.4 m in Sept, highest monthly reading in 2 years
  • Intra-state e-way bills up 15% YoY in first six months; interstate up 2.2%
  • Rs 1,941 cr national e-toll mopup in Sept, up 5.4% from Feb
  • Electronic toll volume at 110.08 m in Sept, nearly equivalent of Feb level
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OTHER BRIGHT SPARKS

  • RAILWAY FREIGHT: Volumes up 15% in first half of Sept
  • PASSENGER CARS: Volumes grew 31% in Sept 2020, highest in 26 mths
  • MANUFACTURING PMI: At 56.8, an 8-year high
  • SEPT EXPORTS: $27.4b, up 5.27% YoY
  • AVIATION: Weekly avg flyers at 139k for week to Sept 25, up from 38kin week to May 29
  • GST MOPUP: Rs 95,480 cr in Sept, up 4% YoY
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