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The V-shaped recovery in the first quarter of 2010 shows strong fundamentals.Indian government

According to the Treasury, despite the second wave of COVID-19, the V-shaped recovery in the first quarter of fiscal year 2021-22 is an indicator of India’s strong macroeconomic fundamentals and the latest month. In the next economic review, he expressed concern about high incidence. The number of COVID-19 cases in Kerala and Maharashtra highlighted the need for better pandemic control and management in these two states.

Kerala said it accounts for about 60% of new daily cases in the country and remains concerned about reporting the highest daily deaths in all states.

India’s economy grew 20.1% in the first quarter of this year, reaffirming “India’s resilient V-shaped recovery despite the fierce second wave.”

Despite the second wave of COVID-19, V in the first quarter of the year, according to the Treasury, which expressed concern and emphasized the high incidence of COVID-19 in Kerala and Maharastra. Kerala recovery is an indicator of India’s strong macroeconomic fundamentals. The need to improve pandemic control and management in these two states.

India’s economy fell 24.4% in the first quarter of the previous fiscal year.

According to the report, the agricultural sector continues to provide a comfortable outlook for sowing Harif at 101% of normal levels as of September 3, despite a 9% monsoon shortage so far this year. ..

Record highs in paddy procurement and tractor sales are on track to strengthen rural demand in the coming months, the industry is steadily declining, and the June industrial production index has grown broadly, 95. He added that he was recovering soon. Percentage of pre-pandemic levels in June 2019.

More recently, the July 2021 8-Core Industry Index said all sectors except crude oil and refined products rose 9.4% year-on-year above pre-pandemic levels.

“The rapid recovery is even more pronounced with increased electricity consumption, rail freight, highway toll collection, e-way invoices, digital transactions, air passenger transport, and robust GST collection. India, including both manufacturing and service. The PMI Composite Index is comfortably placed at 55.4, signaling the start of economic expansion. “

On the contrary, the looming fear around the delta variant of COVID-19 casts a shadow on the need for sustained precautions against it, with more emphasis on testing, tracking, and adoption of COVID-19’s proper behavior. I threw it again.

In terms of revenue, the central government’s finances improved year-on-year from April 2021 to July 2021, and both direct and indirect taxes showed significant year-on-year growth.

A strong recovery in tax collection is a sufficient sign for the government to provide the budgetary support needed for the economy, according to the report, and the recent decision to abolish the retroactive tax law introduced in 2012 is a stable offer. It further reflects the government’s commitment to. Predictable tax system for all stakeholders.

Fiber2Fashion News Desk (DS)



The V-shaped recovery in the first quarter of 2010 shows strong fundamentals.Indian government

Source link The V-shaped recovery in the first quarter of 2010 shows strong fundamentals.Indian government

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