18.7 C
Delhi
Tuesday, December 1, 2020

India’s economic recovery ‘broadened, strengthened’ in Sep: ICRA

- Advertisement -

Market cap of 9 of top-10 firms skyrockets by Rs 3 lakh crNew Delhi, Oct 20 (IANS): India’s economic recovery has “broadened and strengthened” in September from the pandemic-induced lows seen in April 2020, ratings agency ICRA said on Tuesday.

ICRA said that as many as nine of the tracked 15 non-financial high frequency indicators recorded growth in September 2020, while five posted a narrower year-on-year (YoY) contraction in that month.

However, the agency cautioned that the sustainability of the upturn is unlikely to be universal, and that while fatigue may drive festive season sales, the momentum may subsequently subside.

Aditi Nayar, Principal Economist, ICRA, said: “The recovery in GST e-way bills, electricity, petrol and diesel in September 2020 provides a meaningful signal of a broader economic revival. The improvement in some of the other indicators, such as auto output, reflects a combination of pent-up demand, healthy rural sentiment, and inventory build-up, ahead of the upcoming festive season.”

READ ALSO:  SL gets $310m loan from WB to mitigate flood risks

“This trend may persist in the coming one-to-two months, before settling at more sedate levels after the festive season is over. Sharp favourable base effects have contributed to the high performance of some outliers, such as the output of Coal India Ltd (CIL), which are likely to be unsustainable.”

READ ALSO:  DRDO will be setting up research centre in Jammu

Moreover, she cautioned about the sustainability of the trend especially regarding the improvement in non-oil merchandise exports, in the light of a fresh wave of Covid-19 infections in many trading partners.

“Overall, we await signals of the durability of the nascent upturn that emerged in September 2020,” Nayar said.

“The healthy 9.6 per cent increase in the generation of GST e-way bills on a YoY basis in September 2020, in contrast to the contraction of 3.5 per cent in August 2020, signals a wider revival in economic activity.”

 

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News

Qualcomm heralds new 5G mobile era with Snapdragon 888 chip

San Francisco, Dec 1 (IANS) Kicking off a premium era for 5G smartphones and other devices, chip maker Qualcomm on Tuesday unveils the much-anticipated...

May vaccinate those infected with Covid or having its antibodies: Govt

New Delhi, Dec 1 (IANS) The Union Health Ministry hinted on Tuesday that the people infected with Covid-19 or those who have recovered and...

Centre: homeopathic drugs permitted as add-on treatment in Covid; SC says will clarify

New Delhi, Dec 1 (IANS) The Centre on Tuesday informed the Supreme Court that Ministry of Ayush has permitted the homeopathic medical practitioners to...

Railways’ new zero based timetable to reduce travel time: Chairman

New Delhi, Dec 1 (IANS) Railway Board Chairman and CEO V.K. Yadav said on Tuesday that once introduced, the national transporter’s new “zero based timetable”...

SC approves VC pilot project for deposition of children in trafficking cases

New Delhi, Dec 1 (IANS) The Supreme Court on Tuesday directed West Bengal, Assam and Rajasthan to establish the infrastructure for a pilot project to initiate video conferencing (VC) for deposition of...

We never mentioned we’d vaccinate entire population, says Health Ministry

New Delhi, Dec 1 (IANS) In the wake of reporting of two adverse events which occurred with the volunteers during the vaccine trial, the fear...

Trending Topics In India

Covid 19 India Updates

May vaccinate those infected with Covid or having its antibodies: Govt

New Delhi, Dec 1 (IANS) The Union Health Ministry hinted on Tuesday that the people infected with Covid-19 or those who have recovered and...

May vaccinate those infected with Covid or having its antibodies: Govt

New Delhi, Dec 1 (IANS) The Union Health Ministry hinted on Tuesday that the people infected with Covid-19 or those who have recovered and...

Centre: homeopathic drugs permitted as add-on treatment in Covid; SC says will clarify

New Delhi, Dec 1 (IANS) The Centre on Tuesday informed the Supreme Court that Ministry of Ayush has permitted the homeopathic medical practitioners to...

Vaccine will not be released for mass use unless proven immunogenic: Serum Institute

Chennai, Dec 1 (IANS) Vaccine development company Serum Institute, India on Tuesday said the Covidshield vaccine will not be released for mass use unless...

Moderna asking US, European regulators to greenlight Covid-19 vax

By Nikhila Natarajan, (IANS): Moderna Inc, which has reported its Covid-19 vaccine is 94 per cent effective, on Monday announced it is filing with US...

Kerala, Maha, Delhi among 6 states with 61% new Covid cases detected every day

By Rajnish Singh, (IANS) Kerala, Maharashtra and Delhi are among top six states which are accountable for contributing 61 per cent new Covid-19 cases on daily basis in India,...

Trending News In India

Govt plans to clarify misconceptions on farm laws in farmers meet

New Delhi, Dec 1 (IANS) As the farmers have agreed to hold talks with the Central government, a group of cabinet ministers would clear their...

May vaccinate those infected with Covid or having its antibodies: Govt

New Delhi, Dec 1 (IANS) The Union Health Ministry hinted on Tuesday that the people infected with Covid-19 or those who have recovered and...

Centre: homeopathic drugs permitted as add-on treatment in Covid; SC says will clarify

New Delhi, Dec 1 (IANS) The Centre on Tuesday informed the Supreme Court that Ministry of Ayush has permitted the homeopathic medical practitioners to...

Railways’ new zero based timetable to reduce travel time: Chairman

New Delhi, Dec 1 (IANS) Railway Board Chairman and CEO V.K. Yadav said on Tuesday that once introduced, the national transporter’s new “zero based timetable”...

SC approves VC pilot project for deposition of children in trafficking cases

New Delhi, Dec 1 (IANS) The Supreme Court on Tuesday directed West Bengal, Assam and Rajasthan to establish the infrastructure for a pilot project to initiate video conferencing (VC) for deposition of...

We never mentioned we’d vaccinate entire population, says Health Ministry

New Delhi, Dec 1 (IANS) In the wake of reporting of two adverse events which occurred with the volunteers during the vaccine trial, the fear...

Trending Showbiz

Hansal Mehta decodes why sports-based films do well

New Delhi, Nov 30 (IANS) Filmmaker Hansal Mehta, who is currently riding high on the success of his new sports drama Chhalaang, has revealed...

Babuji left me his life and works, says Amitabh Bachchan

Mumbai, Nov 30 (IANS): Iconic actor Amitabh Bachchan says his life and work is nothing compared to the legacy of his father and late eminent...

This year entertainment was a larger source of escape, says Namit Das

Mumbai, Nov 28 (IANS) The year 2020 has been a gloomy one due to the pandemic, and actor Namit Das feels that entertainment turned...

Comedy teaches you to live in the moment: Saqib Saleem

Actor Saqib Saleem, who has done roles across genres in films, feels comedy is the genre that teaches an actor to live in the...

Indian Award shows should include films released on OTT: Bhumi

Mumbai, Nov 27 (IANS) Actress Bhumi Pednekar is not new to the web space, her film Dolly Kitty Aur Woh Chamakte Sitare dropped on...

Sanjay Dutt’s new film ‘Torbaaz’ discusses terrorism with human angle

Mumbai, Nov 26 (IANS) Filmmaker Girish Malik, who directs Sanjay Dutt in his new film Torbaaz, says he wanted to show a story of...

Trending Sports

India look to avoid first ‘whitewash’ vs Aussies in 20 years

New Delhi, Dec 1 (IANS) Indian bowlers will have pride to play for and also gain some confidence ahead of the T20 and Test...

World Test Championship format needs a review: ICC chief

By Qaiser Mohammad Ali,  (IANS) Four days after India captain Virat Kohli described the new percentage points system of the much-debated World Test Championship...

Playing with crowds after long may have affected catching: Rahul

Sydney, Nov 29 (IANS) India's fielding woes continued in the second One-Day International against Australia at the Sydney Cricket Ground (SCG) on Sunday with...

India fall to 51-run defeat; Australia win series

Sydney, Nov 29 (IANS): Australia beat India by 51 runs in the second ODI on Sunday at the Sydney Cricket Ground (SCG). The hosts have...

Australia will win series in all formats vs India: predicts Vaughan

New Delhi, Nov 28 (IANS) Hosts Australia are the favourites to win the series against India across all formats, former England captain Michael Vaughan has...

Premier Badminton League season 6 postponed due to Covid-19

New Delhi, Nov 27 (IANS) The sixth season of the Premier Badminton League (PBL), which was scheduled to take place in late December, has...

Latest Trending News In India

May vaccinate those infected with Covid or having its antibodies: Govt

New Delhi, Dec 1 (IANS) The Union Health Ministry hinted on Tuesday that the people infected with Covid-19 or those who have recovered and...

Centre: homeopathic drugs permitted as add-on treatment in Covid; SC says will clarify

New Delhi, Dec 1 (IANS) The Centre on Tuesday informed the Supreme Court that Ministry of Ayush has permitted the homeopathic medical practitioners to...

Railways’ new zero based timetable to reduce travel time: Chairman

New Delhi, Dec 1 (IANS) Railway Board Chairman and CEO V.K. Yadav said on Tuesday that once introduced, the national transporter’s new “zero based timetable”...

SC approves VC pilot project for deposition of children in trafficking cases

New Delhi, Dec 1 (IANS) The Supreme Court on Tuesday directed West Bengal, Assam and Rajasthan to establish the infrastructure for a pilot project to initiate video conferencing (VC) for deposition of...