Trending

Stories

Covid Crisis Poses an Economic Risk in Q1 FY22; ‘muted Impact’ Likely: FinMin

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

As states take to lockdowns amid the severe Covid crisis, the Finance Ministry in a report has said that the second wave of Covid-19 poses a downside risk to economic activities during April-June, although the impact is expected to be muted compared to that in the first wave.

The ‘Monthly Economic Review’ for April 2021 published by the Department of Economic Affairs (DEA) said that learning to “operate with COVID-19” provides a silver lining of economic resilience amidst the second wave.

Also Read

“The second wave of COVID-19 has posed a downside risk to economic activity in the first quarter of FY 2021-22. However, there are reasons to expect a muted economic impact as compared to the first wave. Learning to “operate with COVID-19″, as borne by international experience, provides a silver lining of economic resilience amidst the second wave,” it said.

Noting that the global economy recovered further in March and April, powered by vaccination drives and fiscal stimuli by few large economies, it said that in India the momentum in economic recovery since the first wave moderated in April due to the second wave of coronavirus.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

It said that agriculture continues to be the silver lining with record food grain production estimated in the ensuing crop year on the back of predicted normal monsoons.

Rural demand indicators like tractor sales recorded a growth of 172 per cent and 36 per cent compared to a low base in March 2020 and even the pre-Covid month of March 2019 respectively.

Industrial production showed mixed trends. While Index of Industrial Production (IIP) in February 2021 registered a broad-based decline of 3.6 per cent (YoY) and 3.9 per cent compared to January 2021, the eight-core index posted a growth of of 6.8 per cent (YoY) in March 2021 and 11.1 per cent compared to February 2021.

In FY 2020-21, the core sector contracted by 7 per cent compared to 0.4 per cent growth in FY 2019-20 with fertilizer being the sole growing sector and electricity recovering steadily in the second half.

The Purchasing Managers Index for manufacturing rose further to 55.5 in April with consumer goods as the strongest-performing category, followed by capital goods and then intermediate goods. The rebound was also reflected in RBI’s survey estimates on capacity utilization and manufacturers’ optimism for the current year, the report said.

In the second half of FY 2020-21, GST collections registered a good growth and collections exceeded Rs 1 lakh crore in each of the last six months owing to economic recovery. GST collections registered another record high of Rs 1.41 lakh crore in April, indicative of continued economic recovery.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
ChatGPT Reaches 100 Million Users in Two Months Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts Instagram Working On Twitter-like Paid Verification Feature OnePlus Ace 2 Specs Exposed Online Realme GT Neo 5 Full Specs Revealed  Samsung Galaxy S23 Ultra: The New Android King Twitter To End Free API February 9 MLS Season Pass Now Available On Apple TV App Tesla To Increase Giga Shanghai EV Production to 20,000 Weekly 
OpenAI Releases Tool To Detect AI-generated Text Tesla Records Double Net Profit in 2022 India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors