Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
economy 2
November 8, 2021

India’s Economic Recovery Gains Momentum In Recent Months: PHDCCI

Urvi Srivastava Economic Trends economic recovery, GPS Index, momentum, PHDCCI

The drivers of household consumption need to be further strengthened to enhance the aggregate demand as it will have an accelerated effect on the expansion of capital investments

India’s economic recovery gained momentum in recent months on the back of rapid progress in vaccinations, festive season and consequent improvement in consumer and industry sentiments, industry chamber PHDCCI said on Sunday.

The PHDCCI Economy GPS Index for October 2021 increased to 131 as compared with 113.1 in the previous month. During the April-October 2021 period, it stood at 114.8 as compared with 78.7 in the previous financial year, the chamber stated.

However, its President Pradeep Multani said that at this juncture, there is a need to address the high commodity prices and shortages of raw materials to support the consumption and private investments in the country.

The drivers of household consumption need to be further strengthened to enhance the aggregate demand as it will have an accelerated effect on the expansion of capital investments, said Multani.

The PHD Chamber of Commerce and Industry (PHDCCI) Economy GPS Index is a composite index of three lead economic and business indicators with a base year at 2018-19=100, which measures the broad economic and business activity.

The PHDCCI Economy GPS Index, based on the monthly values of three high-frequency indicators viz., GST collection (Rs crore), passenger vehicle sales (units) and Sensex (daily average), helps to find the direction of the economy.

GST collections indicate the momentum of business activity, passenger vehicle sales is a broad indicator of demand activity in the economy and the movement of the Sensex indicates the mood of both domestic and foreign investors, the chamber said.

(PTI)

Urvi Shrivastav

→ Urvi Shrivastav

Excise Duty Cut On Diesel, Petrol Sensitive Decision; Will Give Relief To Public: Amit Shah Maruti Suzuki Keeps Close Watch On Price Movement Of Commodities

Related Posts

Chandrasekar-K-1

Credit & Capital, Economic Trends

Leading with empathy is the correct mantra for success

20220331_113353

Credit & Capital, Economic Trends

Govt orders probe into fire incident involving Ola

indian rupee

Credit & Capital, Economic Trends

Asian stocks rise as Ukraine peace talks appear to progress

Movements

  • adobe danDan Durn Appointed As Adobe’s New Chief Financial Officer
  • Vineet Mahajan_Vineet Mahajan Appointed As New CFO Of Avanse Financial Services On Sept 27
  • bharat pet director financeVetsa Ramakrishna Gupta To Lead Bharat Petroleum As Director Finance
  • tender cuts cfoTenderCuts Names Satya Rakesh as New CFO
  • dailmer CFOManish Thakore Helms Daimler India Commercial Vehicles as CFO

Selected Stories

  • Chandrasekar-K-1Leading with empathy is the correct mantra for success

    Read more

  • 20220331_113353Govt orders probe into fire incident involving Ola

    Read more

  • indian rupeeAsian stocks rise as Ukraine peace talks appear to progress

    Read more

  • economyTata Coffee rallies nearly 13 pc; Tata Consumer jumps over 5 pc

    Read more

  • rupeeRupee rises 4 paise to 75.69 against US dollar in early trade

    Read more

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.