Promising Start to Q4
India’s economy kicked off the fourth quarter on a positive note, as indicated by the National Council of Applied Economic Research (NCAER) in its latest economic review.
Key Indicators
The report highlights several key indicators pointing to a robust and resilient economic landscape, supported by a strong service sector and thriving manufacturing sector.
Buoyant Economic Outlook
The Purchasing Managers’ Index (PMI) and Goods and Services Tax (GST) collections are among the key indicators reflecting the favorable economic conditions.
Strong GST Revenue
In January, GST revenue recorded a significant 10.4% year-over-year increase, reaching ₹1.7 lakh crore.
Private Sector Activity Surge
Private sector activities witnessed a notable uptick, with the composite PMI index rising to 61.2 in January from 58.5 in the previous month.
Diminishing Inflationary Pressures
One positive aspect highlighted in the report is the diminishing inflationary pressures, particularly the reduction in food price inflation.
