Indian economy recovering rapidly, manufacturing industry surges sharply

New Delhi: Economic activity is showing improvement in July after the second wave of corona epidemic. India's manufacturing index for the month of July stood at 55.3. The index stood at 48.1 in June due to local lockdown in different parts of the country. This index reflects growth when it is above 50, while below 50 it represents a decline.

In the month of July, the GST collection once again crossed one lakh crore. Union Finance Minister Nirmala Sitharaman tweeted that "This clearly shows that the economy is improving rapidly. In the month of July, the GST collection stood at 1 lakh 16 thousand 393 crores. It registered a growth of 33 percent on an annual basis.' The GST collection for eight consecutive months was 1 lakh crore, but in the month of June, it was 92,849 crore.

At the same time, power consumption in July also reached the pre-epidemic level. The country's power consumption rose nearly 12 percent to 125.51 billion units (BU) in July due to lockdown relaxation and monsoon delays. This epidemic is almost equal to pre-levels. Data from the Ministry of Power (Power Ministry) has revealed this. In July 2020, power consumption stood at 112.14 billion units. This is just short of the 116.48 billion units figure before the epidemic i.e. July 2019.

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