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India Q2 GDP expected today: 5 charts that show the state of the economy

Wondering if India's economy is actually on the path to recovery? These 5 charts could help you put things into perspective

November 27, 2020 / 03:37 PM IST
India's September quarter GDP expected on November 27 and analysts expect a significant sequential improvement in the numbers even as they may remain in the negative. The second-quarter growth expectations are significantly better than that in Q1 with the unlocking mode being on across the country. Care Ratings estimates the contraction in the July-September of this fiscal year, to be 9.9 percent, while rating agency ICRA estimates it to be 9.5 percent. Let's see in the chart how the economy has moved in the year 2020 so far along with the important economic indicators which show how the economy is getting back to track.
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India's September quarter GDP data will be released on November 27 and analysts expect a significant sequential improvement in the numbers even though it may remain in the negative. The second-quarter growth expectations are significantly better than in Q1 with the country gradually easing lockdown rules. Care Ratings estimates the contraction in the July-September of this fiscal, to be 9.9 percent, while rating agency ICRA estimates it to be 9.5 percent. Let's see in the chart how the economy has moved in the year 2020 so far along with the important economic indicators which show how the economy is getting back to track.
GST27112020
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Goods and Services Tax (GST) collection in October 2020 was at Rs 1.05 lakh crore, making it the first month in FY21 with revenues over Rs 1 lakh crore. The collection in September 2020 was at Rs 95,379 crore.
IHSPMI Service
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IHS Markit India services PMI: Indian service sector activity registered growth in October, after seven straight months of decline. The October performance was supported by improved market conditions amid easing COVID-19 restrictions, a monthly survey said on Wednesday. At 54.1 in October, up from 49.8 in September, the seasonally adjusted India Services Business Activity Index posted above the 50.0 no-change-mark for the first time since February. A print above 50 means expansion and a score below that denotes contraction, as per the IHS Markit India Services Purchasing Managers'' Index (PMI).
IIP27112020
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IIP On Rise: India's index of industrial output for the month of September was at 0.2 percent versus -8 percent in August, as per the Index of Industrial Production (IIP) data released by the government on November 12. The IIP index fell 16.55 percent in June and had contracted 10.7 percent in July 2020 on a YoY basis.
FIIs27112020
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FIIs in India Equity:  FIIs made their highest monthly buying in November in the last two decades. FII inflows have been unstoppable. In the current month so far, they have net bought Rs 57,356 crore worth of Indian equities. The Indian equity benchmark index Sensex gained over 70 percent since March 23, 2020. "FII flow will continue with ebbs and overseas money will find India attractive over many years to come. Any global dislocation will surely temporarily disrupt this flow but eventually, it will re-start," Vikas Dawra, Joint MD & CEO – Investment Banking at YES Securities told Moneycontrol.
non-food credit 27112020
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Non-food bank credit growth decelerated to 5.68 percent in November 2020 from 7.90 percent in the same month of the previous year. A major portion of the bank credit is the non-food credit which comprises of credit to various sectors of the economy (Agriculture, Industry, and Services).
Moneycontrol News
Tags: #Moneycontrol Datawatch #Q2 GDP #Slideshow
first published: Nov 27, 2020 03:37 pm

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