September 18, 2021

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

‘Next 3 quarters to show faster recovery than Q1’

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, ‘Next 3 quarters to show faster recovery than Q1’, The World Live Breaking News Coverage & Updates IN ENGLISH
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, ‘Next 3 quarters to show faster recovery than Q1’, The World Live Breaking News Coverage & Updates IN ENGLISH
, ‘Next 3 quarters to show faster recovery than Q1’, The World Live Breaking News Coverage & Updates IN ENGLISH

NEW DELHI: India is poised for an even faster recovery in the next three quarters of 2021-22, with the government and RBI’s “unflinching commitment” to put the economy back on track, a finance ministry report said on Thursday.
“A broad-based rebound in several leading macroeconomic indicators in July and August offer bright prospects for India’s continued economic recovery,” said the monthly economic review for August prepared by the economic division of the department of economic affairs.
The economy staged a sharp rebound in the April-June quarter, growing by 20.1%, helped by a low base effect and recovery in some key sectors such as manufacturing and construction.
It said that rapidly increasing vaccination coverage and richer experience with pandemic management provide the confidence that the recovery can be continued even in the event of a third wave.
The report said that the agriculture sector continues to offer comfortable prospects, with kharif sowing at101% of normal levels as on September 3, despite a 9% deficient monsoon so far.
It said that record-high paddy procurement and increasing tractor sales augur well for strengthened rural demand in the coming months.
Industry is steadily gaining lost ground, with June’s IIP witnessing a broad-based growth, having recovered close to 95% of pre-pandemic levels of June 2019.

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