• Privacy Policy
  • About Us
  • Contact Us
  • Home
  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
No Result
View All Result
  • Home
  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
No Result
View All Result
Cartographeum
No Result
View All Result

Coronavirus | Finance Ministry says COVID-19 past peak, predicts growth

Juliet Woodard by Juliet Woodard
October 4, 2020
Home Business
Share on FacebookShare on Twitter

The report said data for the 14-day period from September 17 to 30 suggests that India may have crossed the peak of COVID-19 caseload.

“With India unlocking by the day, consequent demand resurgence is palpable in many sectors. Economic indicators allude to a steady recovery in almost all sectors, with some sectors shooting above their previous-year levels as well. This is despite headwinds of increasing COVID cases in non-metro cities and rural areas and rising food prices,” the Ministry said in its economic review for September.Also Read | COVID-19 a ‘force majeure’ situation, says Finance Ministry“Data from September 17 to 30 suggests that India may have crossed the peak of COVID-19 case-load. During this period, the seven-day moving average of daily positive cases has steadily declined from about 93,000 to 83,000, while the seven-day moving average of daily tests have risen from about 1,15,000 to 1,24,000,” the review said.The pandemic, however, is far from over and to revive growth sustainably, it is imperative that all stakeholders “get into the act as remaining restrictions on access and mobility are further eased”, the Ministry said, advocating a greater focus on “self-protection with more due precautions” than “social distancing” alone.Positives from packageTerming the partial recovery as proof of “positive results” from the Atma Nirbhar Bharat package, the review said the structural reforms undertaken by the government in various sectors could combat the “downside risk to short-term and medium-term growth” posed by the sustained spread of the virus.Also Read | Finance Ministry to work on Budget from October 16India’s “probable growth path” is visible in the latest assessment of the economy by S&P Global Ratings, which expects the country’s economy and fiscal position to “stabilise and begin to recover from 2021 onwards,” the Finance Ministry said.Among signs of a recovery in industrial output and manufacturing, the Ministry listed the positive growth in exports, recorded in September for the first time since March and the Manufacturing Purchasing Managers’ Index hitting the highest point since January 2012 in September.Also Read | Need to use resources prudently in COVID-19 crisis, don’t initiate any new scheme: FinMin to MinistriesContraction in output of eight core sectors was lower in July and August than the 12.9% shrinkage reported in June, and output prices rose for the first time in six months, reflecting an uptick in input costs, the Ministry pointed out.GST revenue risesGST collections hitting a six-month high in September, along with a spurt in highway traffic movement reflected in toll collections surpassing their pre-pandemic levels in the same month, suggests “bustling activity and pent-up demand” even as power consumption in September was higher than a year ago, the Ministry said.Also Read | Finance Ministry allows additional ₹7,106 crore borrowing by U.P., A.P.Agriculture, the only sector to grow in the first quarter, remains in a sweet spot, the Ministry said, with India recording above normal rain for the second year in a row and reservoir levels at their highest in ten years.Stressing that this bodes well for rural demand, the Ministry said tractor sales and registrations were growing already, while sales of passenger vehicles as well as two- and three-wheelers were gaining momentum, “signaling pent-up demand as well as rise in private mode of transportation due to COVID-19”.

Tags: coronavirus pandemiceconomic fundamentalsFinance Ministrygovernmentstructural reformssustained growth
Juliet Woodard

Juliet Woodard

Next Post
TikTok to Ban Advertisements That Amplify Body Shaming

TikTok US Ban: Federal Judge Postpones Trump Administration Order Against App Downloads

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

How Green Development Can Start Trending In New York City

How Green Development Can Start Trending In New York City

December 4, 2020
China pitches BRICS 5G base as India mulls Huawei ban

China pitches BRICS 5G base as India mulls Huawei ban

August 26, 2020

Trending.

Understanding Emergency Rental Assistance For Landlords And Tenants

Understanding Emergency Rental Assistance For Landlords And Tenants

January 27, 2021
NPPA caps price of liquid medical oxygen, medical oxygen cylinders

NPPA caps price of liquid medical oxygen, medical oxygen cylinders

September 26, 2020
WeWork May Use A SPAC To Finally Go Public, Report Says

WeWork May Use A SPAC To Finally Go Public, Report Says

January 28, 2021
Rock Legend Gene Simmons Kisses His California Estate And High Taxes Goodbye

Rock Legend Gene Simmons Kisses His California Estate And High Taxes Goodbye

November 1, 2020
Rupee slumps 23 paise, settles below 74/USD level

Rupee slumps 23 paise, settles below 74/USD level

November 1, 2020

Cartographeum brings you the latest information about Tech,Real Estate & Business.

Follow Us

Categories

  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
  • Uncategorized

Tags

Amazon Apple Watch 2 Bombay stock exchange BSE Business Buying Guides china closing trade coronavirus Covid COVID-19 currency dollar rate economy Finance Ministry foreign exchange forex gold india indian economy Indian stock market Industry iOS 10 lockdown luxury homes market and exchange markets nifty Nirmala Sitharaman NSE oil pandemic Playstation 4 Pro rbi real estate Reserve Bank of India rupee rupee rate Rupee value rupee vs dollar sensex Sillicon Valley stock exchange Stocks USD

Recent News

What The Rental Housing Industry Needs To Bounce Back From The Pandemic

What The Rental Housing Industry Needs To Bounce Back From The Pandemic

March 1, 2021
Sotheby’s International Realty’s President And CEO Phillip White Talks International Expansion As South Korea Joins The Brand

Sotheby’s International Realty’s President And CEO Phillip White Talks International Expansion As South Korea Joins The Brand

February 28, 2021
  • Privacy Policy
  • About Us
  • Contact Us

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Review
  • Computers
  • Gear

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.