New Delhi: India’s economy shows signs of strong recovery from destruction caused by pandemics, with upswing reported in 19 of 22 economic indicators compared to the pre-covid level.
High frequency indicator (HFI) is being monitored to track the progress of economic recovery in India since the first Covid-19 case was reported in the country in January 2020.
The latest information shows that among 22 HFI, full recovery has been achieved in respect from 19 HFI, as a level Their latest in September, October and November this year is higher than their pre-pandemic level in the same months 2019, the official source said.
Among the 19 HFIs, there are several indicators whose recovery far exceeds 100 percent, such as e-way bills based on volume, export of merchandise, coal production and train transportation traffic, which shows that not only complete recovery, economic growth.
Now collect momentum over the level of pre-pandemic output.
This is then confirmed by the Estimated GDP recently released for Q2 (July-September) from 2021-22, whose year-on-year growth in a real term at 8.4 percent took a higher level of output than the pre-pandemic level Q2 Output in 2019-20.
While the electronic toll collection (etc.) at the 108.2 crore Hospital in October was 157 percent of the pre-covid level 2019, the upi volume was almost four times at 421.9 crores.
Imports of merchandise at $ 55.4 billion in October was 146 percent of the level of 2019.
The volume of e-way bills had more than doubled to 7.4 crores in October.
Coal production has increased 131 percent to 114.1 million tons in September while railroad transport traffic jumped 125 percent.
Sales of fertilizer, power consumption, tractor sales, cement production, cargo traffic port, fuel consumption, air cargo, IIP, and industrial 8 core all above pre-covid levels, they said.
The only sector that has not touched the pre-pandemic level is steel consumption which is 99 percent of the 2019 level in October, domestic car sales are 86 percent of the pre-covid level and air passenger traffic which is 66 percent of the volume of October 2019.