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India’s economic recovery gains momentum in July: PHDCCI

Economic recovery India is gaining momentum again as key economic and business indicators showed further improvements in July this year. Therefore, the PHDCCI Economy GPS Index increased from 107.1 in June to 120.2 in July (100 in the base year 2018-19), said Sanjay Aggarwal, President of the PHD Chamber of Commerce.

NS PHDCCI Economy GPS Index Is a composite index of three major economic and business indicators, based on 2018-19, that measures a wide range of economic and business activities.

Continuous passenger car growth increased 16% in July 2021 from 2,31,633 in June 2021 to 2,68,685 in July 2021. From 92,849 chlores in June 2021 to 1,16,393 chlores in July 2021.

The industry council said in a statement that the SENSEX’s average daily closing price continued to grow by 0.6% from 52399.7 in June 2021 to 52694.3 in July 2021.

According to Agarwal, the economy is at its recent low in 2021 due to a decline in the number of new coronavirus cases, continued unlocking in various parts of the country, and coordinated economic reforms announced by the government. It has been recovering rapidly since April and May.

At this point, he said, the impetus for household consumption and private investment needs to be further strengthened to increase aggregate demand in the economy, as it will have an accelerating impact on the expansion of domestic fixed investment.

He added that the government needs to accelerate spending on the national infrastructure pipeline, as increased spending on infrastructure provides a multiplier effect to stimulate aggregate demand in the economy.

Fiber2Fashion News Desk (DS)

India is once again gaining momentum for recovery as key economic and business indicators showed further improvements in July this year. Therefore, the PHDCCI Economy GPS Index increased to 120.2 in July compared to 107.1 in June (100 in the base year 2018-19), said Sanjay Aggarwal, Chairman of the PHD Chamber of Commerce.



India’s economic recovery gains momentum in July: PHDCCI

Source link India’s economic recovery gains momentum in July: PHDCCI

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