Strengthening economic recovery

28 FEB,2021 | MEDC


 

Results for the third quarter of the current financial year show positive signs across several sectors. The profit margins of many corporates have improved and key sectors of the economy like metals, construction, automobiles and banks are witnessing a turnaround. Components of the agro-economy such as edible oils, plantation crops (tea and coffee), and sugar have shown strong performance. Power generation is rising. Non-food bank credit has grown 6% in January. Agriculture and allied activities – the backbone of the rural economy – have shown an uptrend in credit growth, reflecting resilience and support from better harvest. Overall, the Q3 results do suggest that there is room for optimism. At the same time, we should keep in mind that Covid is again spreading in parts of India (especially Maharashtra) and we cannot afford any kind of laxity regarding the observance of rules and regulations. We may need to learn to live with Covid for a while more, and strengthen our socioeconomic recovery with the full awareness that some real risks to a sustained growth could be lurking just around the corner. 

*Photo Credit: Google

 

 

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