10 signs that show India's economy is recovering fast

First Published 12, Nov 2020, 2:45 PM

Indian economy is well and truly on the path of economic recovery even as the fight against the Covid-19 pandemic enters the next stage.

<p>Here are 10 signs that show India's economy is recovering fast.</p>

Here are 10 signs that show India's economy is recovering fast.

<p>COVID active cases decline from over 10 lakh to 4.89 lakh active cases with<strong> Case Fatality Rate (CRR) at 1.47 per cent.</strong></p>

COVID active cases decline from over 10 lakh to 4.89 lakh active cases with Case Fatality Rate (CRR) at 1.47 per cent.

<p>Composite Purchase Managers Index <strong>(PMI) rose to 58.9 in Oct vs. 54.6 last month, </strong>registering the most substantial increase in output in close to nine years.</p>

Composite Purchase Managers Index (PMI) rose to 58.9 in Oct vs. 54.6 last month, registering the most substantial increase in output in close to nine years.

<p>Energy consumption growth trended <strong>higher in October at 12% YoY.</strong></p>

Energy consumption growth trended higher in October at 12% YoY.

<p>GST collections for October <strong>grossed Rs 1.05 lakh crore - 10% YoY</strong></p>

GST collections for October grossed Rs 1.05 lakh crore - 10% YoY

<p>Daily railway freight tonnage <strong>grew by an average 20% YoY </strong>vs 12% in the previous week.</p>

Daily railway freight tonnage grew by an average 20% YoY vs 12% in the previous week.

<p><strong>Bank credit YoY growth</strong> improved by 5.1% on 23rd October'20.</p>

Bank credit YoY growth improved by 5.1% on 23rd October'20.

<p><strong>Markets at record high, </strong>record market capitalization, FPIs net investments +ve, Fores Reserves - USD 560 billion</p>

Markets at record high, record market capitalization, FPIs net investments +ve, Fores Reserves - USD 560 billion

<p>FDI inflows Apr-August at <strong>USD 35.37 billion - 13% rise YoY</strong></p>

FDI inflows Apr-August at USD 35.37 billion - 13% rise YoY

<p>RBI predicts a substantial likelihood of Indian economy returning to<strong> positive growth in Q3:2020-21, ahead by a quarter of earlier forecast.</strong></p>

RBI predicts a substantial likelihood of Indian economy returning to positive growth in Q3:2020-21, ahead by a quarter of earlier forecast.

<p>Prominent economists have suggested that the <strong>rebound is not only due to pent up demand, but also substantial economic growth.</strong></p>

Prominent economists have suggested that the rebound is not only due to pent up demand, but also substantial economic growth.