India Economy Update - Growth Marches On, But April Will Feel The Heat Of The Storm: Nirmal Bang
A vendor carries tea to workers at a wholesale market in Patna, Bihar. (Photographer: Anindito Mukherjee/Bloomberg)

India Economy Update - Growth Marches On, But April Will Feel The Heat Of The Storm: Nirmal Bang

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Nirmal Bang Report

Early data for March 2021 indicate that 78.8% of the indicators were in the positive territory, up from 63.64% in February 2021.

However, final data for Feb-21 suggest that only 60% of the indicators were in the positive territory.

Some of the positive momentum in March-21 came on the back of a low base in March-20 on account of imposition of the nationwide lockdown.

We believe that gross domestic product growth could still be marginally positive in Q4 FY21, supported by a low base in March-20 and revival in government spending (underpinned by improving tax collections).

However, sequential momentum is likely to have slowed sharply in April-21 on account of imposition of localised lockdowns, as the second Covid-19 wave has swept the country.

Click on the attachment to read the full report:

Nirmal Bang India Macro Meter- Economy Update-29 April 2021.pdf

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