India’s Economic Recovery Sustains; Growth May Turn Positive In Q4 FY21: Nirmal Bang
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Nirmal Bang Report
Early data for January 2021 indicate that 69.7% of indicators were in the positive territory, up from 63.64% in December 2020 and 66% in January 2020.
However, final data for December 2020 suggest further improvement from preliminary indicators, with 69.39% of indicators in the positive territory.
The improved reading in January 2021 from last year’s level suggests that gross domestic product growth may turn positive in Q4 FY21 unless we see fresh rounds of lockdowns across large sections of the country going into March-21.
The rural story has largely sustained and government spending is holding up. Rural unemployment declined in January-21 and stood at 5.8%.
Urban unemployment also saw marginal improvement, but the unemployment rate stood at 8.1%.
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