Indian economy on revival path: Union Minister Pankaj Chaudhary

20 Jul 2021 CW Team

The estimate of India's real Gross Domestic Product (GDP) growth is 0.5% in the third quarter and 1.6% in the fourth quarter of FY 2020-21, resulting in an upward revision in the annual real GDP growth from -8% to -7.3%, he said.

Chaudhary told the media that the momentum of the economic recovery was moderated by the onset of the second wave of the Covid-19, he added.

He said that the economic recovery is reflected in many high-frequency indicators such as E-way bills, rail freight, power consumption, UPI transactions, vehicle registrations.

The government has formulated a multi-pronged strategy to keep the prices of essential commodities under control. It includes the issuance of orders imposing stock limits, valid for wholesalers, retailers, importers, and millers, effective from July 2, with the increase in the number of price monitoring centres under the Price Monitoring Scheme, says Chaudhary.

Citing RBI's Monetary Policy Committee (MPC) resolution, he said that the rising trajectory price of international commodities like crude oil, logistics costs creates upside risks to the inflation outlook.

Chaudhary said that the cost pressures are expected to be mitigated by south-west monsoon, comfortable buffer stocks, interventions in the pulses market, the decline in Covid-19 cases, and easing of state-wise Covid-19 restrictions.

Looking into all the factors, MPC has projected consumer price index (CPI) inflation at 5.1% in FY 2021-22 with balanced risks. The MPC will continue to review the inflation outlook in its bi-monthly meetings, he said.

According to him, the government has taken actions to arrest the rising retail inflation in food commodities. It has eased the import restrictions to make domestic availability of pulses and even signed MoUs with Mayanmar, Mozambique, and Malavi for the import of pulses.

Image Source

Also read: K-shaped economic recovery: CFA Institute members predict recovery

Also read: Economy may take longer to reach $5 trillion target: Sanjeev Sanyal

Minister of State for Finance Pankaj Chaudhary told the media that the Indian economy is showing signs of revival since the peaking of the second wave of Covid-19 in May 2021 on the back of targeted fiscal relief, strong push for capital expenditure, and rapid vaccination drive. The estimate of India's real Gross Domestic Product (GDP) growth is 0.5% in the third quarter and 1.6% in the fourth quarter of FY 2020-21, resulting in an upward revision in the annual real GDP growth from -8% to -7.3%, he said. Chaudhary told the media that the momentum of the economic recovery was moderated by the onset of the second wave of the Covid-19, he added. He said that the economic recovery is reflected in many high-frequency indicators such as E-way bills, rail freight, power consumption, UPI transactions, vehicle registrations. The government has formulated a multi-pronged strategy to keep the prices of essential commodities under control. It includes the issuance of orders imposing stock limits, valid for wholesalers, retailers, importers, and millers, effective from July 2, with the increase in the number of price monitoring centres under the Price Monitoring Scheme, says Chaudhary. Citing RBI's Monetary Policy Committee (MPC) resolution, he said that the rising trajectory price of international commodities like crude oil, logistics costs creates upside risks to the inflation outlook. Chaudhary said that the cost pressures are expected to be mitigated by south-west monsoon, comfortable buffer stocks, interventions in the pulses market, the decline in Covid-19 cases, and easing of state-wise Covid-19 restrictions. Looking into all the factors, MPC has projected consumer price index (CPI) inflation at 5.1% in FY 2021-22 with balanced risks. The MPC will continue to review the inflation outlook in its bi-monthly meetings, he said. According to him, the government has taken actions to arrest the rising retail inflation in food commodities. It has eased the import restrictions to make domestic availability of pulses and even signed MoUs with Mayanmar, Mozambique, and Malavi for the import of pulses. Image Source Also read: K-shaped economic recovery: CFA Institute members predict recovery Also read: Economy may take longer to reach $5 trillion target: Sanjeev Sanyal

Real Estate

14 May 2026

AIDO Launches Smart Hotel Lock for Hospitality Spaces

AIDO, an endorsed brand of dormakaba, has launched the AIDO Hotel Lock, designed to improve secure and seamless access management across hotels, serviced residences and institutional spaces. The solution combines smart security, operational efficiency and contemporary design to support modern hospitality requirements.The lock features integrated electronic mortise functionality, reverse lifting handle locking and compatibility with third-party property management system platforms, enabling smoother room access and check-in operations. Powered by 6V DC with four AA alkaline batteries, it offers..

Real Estate

14 May 2026

Häfele Unveils Zenith Digital Lock

Häfele has introduced the Zenith Digital Lock, designed to enhance home security through smart technologies and versatile locking functions. Finished in Black and Grey, the lock blends with modern interiors while offering a refined, tech-enabled access experience.The lock features Smart Password technology for secure access and added protection against password tracing. Its Smart Voice function provides guided assistance for easy operation, while Smart Freeze temporarily disables access after multiple incorrect attempts, strengthening safety and control.The Zenith Digital Lock also offers mul..

Infrastructure Urban

14 May 2026

KBL Revenue Rises 11 Per Cent in Q4 FY26

Kirloskar Brothers Limited reported consolidated revenue from operations of Rs 14.15 billion for Q4 FY26, compared to Rs 12.81 billion in Q4 FY25, registering around 11 per cent year-on-year growth. Consolidated Profit Before Tax stood at Rs 1.47 billion, against Rs 1.27 billion in the corresponding quarter last year. Profit After Tax stood at Rs 1.04 billion, compared to Rs 1.12 billion in Q4 FY25.For FY26, consolidated revenue from operations stood at Rs 45.38 billion, compared to Rs 44.92 billion in FY25. Consolidated Profit After Tax for the year was Rs 3.61 billion, against Rs 4.03 billio..