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By APD writer Rishika Chauhan
New Delhi, Jan. 6 (APD)-- India is hopeful that its economy will be revived in the new year 2020, as some indicators are suggest so.
According to a media report, “The Nikkei Manufacturing Purchasing Managers’ Index (PMI), compiled by IHS Markit, has increased to 52.7 in December 2019, the highest since May 2019.”
“Goods and Services Tax (GST) collections were above ~1 lakh crore for the second consecutive month in December. Auto companies such as Maruti Suzuki have reported a rise in domestic car sales,” the report added.
Moreover, the Centre for Monitoring Indian Economy’s (CMIE) database shows that new investment announcements have taken place in the December quarter, which had a positive effect.
A Hindustan Times report states that, “Two government officials familiar with the matter said on condition of anonymity that the assessment of the economy by policymakers is that things will look up, with perhaps even data for the third quarter (October-December 2019) indicating this.”
According to experts, indices for manufacturing and services, auto sales, project investments, and tax collections have shown improvements in the past few months.
(ASIA PACIFIC DAILY)
