Asia

Govt: Phased unlocking has helped recovery across sectors

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NEW DELHI: The home ministry on Wednesday said the phased unlocking of the economy since June 1 had helped in recovery across sectors which was reflected in the latest economic indicators.
“With the phased unlocking of the Indian economy since June 1, high frequency economic indicators such as PMI, manufacturing, index of eight core industries, e-way bills, kharif sowing, power consumption, railway freight, cargo traffic and passenger vehicle sales have recovered and indicate growing convergence with previous years activity levels,” junior home minister Nityanand Rai told Rajya Sabha in his written reply to a question.
The government, he said, had announced a comprehensive package of Rs 20 lakh crore — equivalent to 10% of Indias GDP — to combat the impact of the Covid-19 pandemic. The lockdown was effective in containing the impact of Covid-19, Rai said. “It helped the country in bringing down the growth rate of infection, leading to reduced transmission of diseaseRead More – Source