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Last Updated : Jun 11, 2019 10:35 AM IST | Source:

Budget Snapshots | India’s economic activity at its lowest since 2013

India's economic indicators took a turn for the worse in April

Representative image
Representative image

The March quarter’s GDP numbers indicated the economic slowdown had worsened. April does not bring any better news. Investment firm Jefferies’s maintains an Activity Index, and this index declined in April by 3 percent compared to a low but still positive 1.8 percent growth in March. The chart shows that the last time index growth had declined by this much was in 2013.Activity Index (2)

The research note said that implied GDP growth for April (based on old series) was 4.5 percent. The activity index is compiled using ten monthly indicators, including rail freight, automobile sales, exports, electricity and credit growth. When the Budget documents become available, investors will be watching for how it proposes to tackle the medium term cyclical factors and longer term structural factors that are holding down India’s growth.

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First Published on Jun 5, 2019 12:05 pm
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