Never miss a story

Get subscribed to our newsletter


×
Accordingly, 9 out of the 10 indicators of QET of economic and business activity tracked by the industry body have shown positive trends in January. Pinterest

A speedy economic recovery is underway on the back of higher job creation, strong stock market, healthy GST collections and elevated manufacturing PMI levels in January, said industry body PHD Chamber of Commerce and Industry.

Accordingly, 9 out of the 10 indicators of QET of economic and business activity tracked by the industry body have shown positive trends in January.


Out of all the indicators, unemployment rate has shown highest sequential improvement of around 28 per cent in January 2021 over December 2020.

Please Follow NewsGram on Facebook To Get Latest Updates!

However, E-way Bill generation has recorded a decline. It decreased to 62.9 million in January 2021 as compared to 64.1 million in previous month of December 2020.

As per the data, January 2021 QET performance is in sync with the performance of December 2020, while it is better as compared to October and November 2020.

“Economic and business indicators such as unemployment rate, stock market, GST collections, manufacturing PMI, forex reserves, railway freight, merchandise exports, exchange rate and passenger vehicle sales have shown positive sequential growth in January 2021 as compared to December 2020,” Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry, was quoted as saying in a statement.


A speedy economic recovery is underway on the back of higher job creation, strong stock market, healthy GST collections and elevated manufacturing PMI levels in January, said industry body PHD Chamber of Commerce and Industry. Pinterest

According to Aggarwal, the expectations of a positive GDP growth in Q3 and Q4FY21 are becoming strong.

“At this juncture, to continue the recovery momentum of economic and business activity, immediate policy attention is required towards credit access to industry and services sectors. Credit disbursement should be the top most priority at this juncture by the banking sector,” Aggarwal said.

ALSO READ: Researchers Discover Small Molecule Effective in Treating Kidney Cancer

“The focus should be on ensuring the provision of hassle-free disbursements of loans vis-a-vis enhanced liquidity for MSMEs, especially in rural sectors,” he added.

In addition, Aggarwal cited the need to lower interest rates for consumers and businesses, and lesser compliances for MSMEs vis-a-vis ease of doing business at the ground level. (IANS)


Popular

Pixabay

Kashmir's natural splendour, with its beautiful valleys and towering mountains, is really unlike anywhere.

Along with the undeniable natural beauty, the Kashmir valley has developed a reputation for adventurous activities like trekking, hiking, and river rafting. Kashmir has maintained its charm, allowing us to time-travel into beautiful destinations which make one forget about the stress and worries of life. The hikes in Kashmir offer adventurers to go on a self-discovery trip through nature's lap over the mountains while taking in the breathtaking scenery that surrounds them on their journey. In addition to the hikes, there are many thrilling adventure activities, like rock climbing, rope climbing, etc. Trekking across the region of mountains and lakes will allow you to experience living in the "Paradise on Earth," and you wouldn't want to return to your regular life after that.

The following are some of the finest hiking destinations in Kashmir:

Keep Reading Show less
Photo by Wikimedia Commons.

Pind Daan at Jagannath Ghat, Kolkata.

The Pitru Paksha starts after the Full Moon day, and this day marks the beginning of the waning phase of the Lunar cycle. This event is roughly of 15-day period, and is of great significance. From this day, rituals like Tarpan or Tarpanam and Shradh are carried out to pay respects to dead relatives and ancestors.

It is believed that from the very first day till the last day, the unhappy souls of the deceased return to the Earth to see their family members. So, in order to ensure that the dead attain Moksha, i.e. to get liberation, family members of these souls quench their thirst and satisfy their hunger by performing the Pind Daan, which includes offering food consisting of cooked rice and black sesame seeds. The literal meaning of Pind Daan is the act of satisfying those who no longer exist physically.

Keep Reading Show less
wikimedia commons

Cubbon Park is a lush green garden at the heart of Bangalore

At the heart of Bangalore city, a large 300-acre space of lush greenery and heritage stands as a symbol of the city's past, present, and future. Cubbon Park is every child's favourite park, every Bangalorean's haven of fresh air, and altogether, the city's pride.

It stands testament to the past, in terms of the diversity of flora it houses. Bangalore traffic in the recent past has grown into a menace, but the stretch between MG Road and Cubbon Park is always a pleasurable place to stop and wait for the signal to turn green. The gust of wind that blows here, and the smell of mud, coupled with floral scents instantly transports citizens to Old Bangalore, where the weather was fine, and the trees loomed over roads with thick canopies that did not even allow rainwater to penetrate. Cubbon Park is also a historical site, and one of the few remaining monuments of colonial heritage in Central Bangalore. It houses many statues and among them, the most famous is that of Queen Victoria, which faces the St. Mark's Square.

Keep reading... Show less