India’s Economic Growth Has Not Whittled Down Despite Emergence Of Second Covid-19 Wave: Nirmal Bang
A vendor carries tea to workers at a wholesale market in Patna, Bihar. (Photographer: Anindito Mukherjee/Bloomberg)

India’s Economic Growth Has Not Whittled Down Despite Emergence Of Second Covid-19 Wave: 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 February 2021 indicate that 63.64% of indicators were in the positive territory, down from 69.7% in January 2021.

However, final data for Jan-21 suggest that only 64% of indicators were in the positive territory.

Despite emergence of renewed localised lockdowns over the past month, 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).

Central government expenditure was up by 49.5% YoY in Jan-21 while indirect tax collection rose by 34.8% YoY (driven by excise duties).

Click on the attachment to read the full report:

Nirmal Bang India Macro Meter- Economy Update-23 March 2021.pdf

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