Indian economy on recovery path: Ministry of Finance

12 Oct 2021 CW Team

The September review concluded that the economy is progressing well, citing sustained and robust growth in agriculture, a sharp rebound in manufacturing and industry, the resumption of services activity, and buoyant revenues.

The external sector continues to be a bright spot for India's recovery, with merchandise exports breaking the $30 billion barrier for the sixth month in a row in the fiscal year 2021-22.

With the merchandise trade deficit rising in September, there is clear evidence that India's consumption and investment demand is picking up, as well as the external debt-to-GDP ratio remaining comfortable, falling to 20.2% at the end of June 2021 from 21.1% at the end of March 2021.

The rate of growth of bank credit was 6.7% YoY in the fortnight ending September 10, 2021, compared to 5.3% in the previous year's corresponding period, according to the report, in line with growth impulses seen across the economy.

Consumer price index (CPI) inflation retreated to a four-month low of 5.3% in August 2021, clearly demonstrating that inflationary tendencies are pandemic-induced and transitory, thanks to the restoration of supply chains, improved mobility, and softening food inflation.

Volatile crude oil prices on the international market, as well as upward-bound prices for edible oils and metals, may continue to be a source of concern.

G-Sec yields were also stable in September 2021, thanks to a comfortable level of systemic liquidity and an easing of inflationary pressure. In comparison to August, the 10 year yield remained at 6.2%.

In August and September, high-frequency economic indicators showed continued improvement in power consumption, rail freight activity, e-way bills, robust GST collections, highway toll collections reaching a 21-month high, sequential increases in air freight and passenger traffic, and a quantum leap in digital transactions, indicating a broad-based recovery.

Image Source

Also read: India needs major banks to meet economic shift: Finance Minister

Strategic reforms and a rapid vaccination drive has put the country on the road to recovery by allowing the economy to navigate the ravaging waves of the Covid-19 pandemic according to the Ministry of Finance's monthly economic review. The September review concluded that the economy is progressing well, citing sustained and robust growth in agriculture, a sharp rebound in manufacturing and industry, the resumption of services activity, and buoyant revenues. The external sector continues to be a bright spot for India's recovery, with merchandise exports breaking the $30 billion barrier for the sixth month in a row in the fiscal year 2021-22. With the merchandise trade deficit rising in September, there is clear evidence that India's consumption and investment demand is picking up, as well as the external debt-to-GDP ratio remaining comfortable, falling to 20.2% at the end of June 2021 from 21.1% at the end of March 2021. The rate of growth of bank credit was 6.7% YoY in the fortnight ending September 10, 2021, compared to 5.3% in the previous year's corresponding period, according to the report, in line with growth impulses seen across the economy. Consumer price index (CPI) inflation retreated to a four-month low of 5.3% in August 2021, clearly demonstrating that inflationary tendencies are pandemic-induced and transitory, thanks to the restoration of supply chains, improved mobility, and softening food inflation. Volatile crude oil prices on the international market, as well as upward-bound prices for edible oils and metals, may continue to be a source of concern. G-Sec yields were also stable in September 2021, thanks to a comfortable level of systemic liquidity and an easing of inflationary pressure. In comparison to August, the 10 year yield remained at 6.2%. In August and September, high-frequency economic indicators showed continued improvement in power consumption, rail freight activity, e-way bills, robust GST collections, highway toll collections reaching a 21-month high, sequential increases in air freight and passenger traffic, and a quantum leap in digital transactions, indicating a broad-based recovery. Image Source Also read: India needs major banks to meet economic shift: Finance Minister

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..

Equipment

09 Mar 2026

Company showcases North America-certified machinery and secures new deals

Zoomlion Heavy Industry Science & Technology Co., recently showcased a wide portfolio of North America-certified and customised construction equipment at CONEXPO-CON/AGG 2026 in Las Vegas. The display included engineering hoisting machinery, concrete equipment, earthmoving machinery, mining equipment and construction hoisting solutions tailored to regional operational requirements.All equipment presented at the exhibition complies with North American certification standards, with several models specifically developed to meet local regulatory requirements and site conditions. One of the hig..

Technology

09 Mar 2026

Sinoboom Launches Dual-ETM Smart Technology

Sinoboom recently introduced its Dual-ETM Smart Technology at CONEXPO-CON/AGG 2026, designed to enhance battery endurance and operational efficiency in electric boom lifts.The new technology integrates advanced components that enable real-time optimisation of power usage during equipment operation. By calculating the precise power requirement instantly, the system delivers only the energy needed for each movement, reducing the inefficiencies associated with conventional maximum-demand power systems.The solution incorporates multiple sensors—including pressure, weight, length and level sensor..