Manufacturing sector a major disappointment as it contracted 1.1% in Q3. Services such as tourism, transport & communications saw strong growth in this quarter.
Analysis of industrial & consumer data not included in usual ‘high-frequency indicators’ shows although demand seems to have recovered from pandemic, it remains weak.
Absence of basic data, such as census, harms the country's statistical system & policy analysis. In such a scenario, CMIE, CRISIL, Skymet have become reliable sources for quality data.
The government has revised its GDP growth estimate for 2021-22 to 8.7 per cent on account of economic disruptions caused by the Covid-19 pandemic and spike in inflation.
Demand during the festive season has helped keep momentum rolling. Data due 30 November will probably show July-September GDP grew 8.2% from a year ago.
If we compare Indian states to India’s neighbourhood, we find that only Goa, Sikkim, and NCT of Delhi have a GDP per capita higher than China’s GDP per capita of $16,772.
India's economy could contract by around 1% in the Q4 if one takes into account the revised full year GDP numbers for the current fiscal. For the full year, NSO forecasts steeper contraction of 8%.
Construction, manufacturing, mining & services industry like hotels and transportation are to be the worst hit, says first advance GDP estimate released by the National Statistical Office.
The next time you see a post featuring a sari-clad woman at a party or a travel reel from an unknown location, ask yourself — how does her joy threaten yours?
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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