India’s Economic Recovery Is Stunning: 19 Out Of 22 Indicators Fully Recovered To Pre-Covid Levels (Full List)
After the devastation caused by the ongoing pandemic, Indian economy seems to be showing strong signs of recovery now.
Recovery In Indian Economy
Latest report is showing an upswing in 19 out of the 22 economic indicators as compared to the pre-Covid levels.
Presently, High-frequency indicators (HFIs) are being monitored to track the progress of economic recovery in India.
The monitoring started since the first COVID-19 case was reported in the country in January 2020.
The latest information from HFIs indicates that among 22 HFIs, full recovery has been achieved in respect of 19 HFIs.
What Does That Mean?
It simply indicates that the latest levels in the months of September, October and November this year are higher than their pre-pandemic levels in the corresponding months of 2019, according to the officials.
Out of this 19 HFIs, there are some indicators whose recovery is way beyond 100 per cent.
It includes indicators such as e-way bill by volume, merchandize exports, coal production and rail freight traffic.
Economy Recovery And Growth In Horizon
This suggests that not only the recovery is complete, the economic growth is now gathering momentum over the pre-pandemic levels of output.
The same is further confirmed by the estimates of GDP recently released for Q2 (July-September) of 2021-2.
This indicates the year-on-year growth in real terms at 8.4 per cent takes the output level higher than the pre-pandemic level of Q2 output in 2019-20.
At the same toime Electronic Toll Collection (ETC) at Rs 108.2 crore in October was 157 per cent of the pre-Covid levels of 2019.
While UPI volumes are nearly four times at 421.9 crore.
Coming to Merchandise imports, it is at USD 55.4 billion in October are 146 per cent of 2019 levels.
During October, E-way bill volume has more than doubled to 7.4 crore.
Coal production has also risen 131 per cent to 114.1 million tonnes in September.
Similerly, the rail freight traffic has jumped by 125 per cent.