Economy expected to perform better in current financial year: Chief Economic Advisor

Economy expected to perform better in current financial year: Chief Economic Advisor

New Delhi. Chief Economic Advisor (CEA) KV Subramaniam said on Friday that the rapid revival of the economy shows that its performance in the current financial year will be better than the projections so far. He said this in the second quarter as the economy contraction was lower than anticipated. Subramaniam said that the final figure should be better than the estimates made by various institutions, including the Reserve Bank of India, on GDP (GDP) in the current financial year.

The central bank has forecast a 9.5 percent decline in the economy in 2020-21. The performance of India's economy has been better than expected in the July-September quarter of the current financial year amid the global epidemic crisis. According to the latest government data, manufacturing sector GDP (GDP) declined sharply by only 7.5 per cent in the second quarter, while a major contraction was anticipated. It increased by 4.4 percent in the same quarter a year earlier. It is expected to improve further in the coming years due to better consumer demand.

The economy suffered a major decline of 23.9 percent in the first quarter of April-June of the current fiscal year 2020-21 amid tight public restrictions implemented to prevent the spread of the corona virus epidemic. Comparing the estimates of several analysts, Subramaniam said the second quarter figures are quite encouraging. The data (PMI, electricity consumption, garland transportation etc.) was indicating this. He said that the sustainability of revival in the economy depends on the outbreak of the epidemic. He said that the first spurt in infection reached its peak in September and after that it has reduced somewhat. But there is a need to maintain vigilance during the winter months. Describing the scenario for the near future, he said, "We should expect to be cautious and vigilance is necessary given the impact on the economy due to the Corona epidemic."

When asked about the estimate for the entire financial year, the Chief Economic Advisor said, "... things which were seen in the first and second quarter and ... which are going to see good improvement, I think according to the economy There is a possibility of better performance. ”Subramaniam said, however, given the current uncertainty, it is difficult to tell whether the economy will come in positive terms in the third quarter or the fourth quarter. He said, "I anticipate that we will definitely move on the path of revival but it requires that the epidemic remains under control." Regarding food inflation, the CEA said that the inflation rate of food items moderated in the third quarter. It is being closely monitored by the government.


Maruti Swift's craze among people is increasing, in the year 2020, the company sold 160,700 units

Maruti Swift's craze among people is increasing, in the year 2020, the company sold 160,700 units

Maruti Swift is proving to be the power player for the country's largest car manufacturer, Maruti Suzuki. The company has so far achieved a milestone of 2.3 million sales. In 2020, the strong performing car is still at the top. Despite the Corona epidemic last year, the car has performed well.

The Swift emerged as the best-selling passenger vehicle in the calendar year 2020, recording a total sales of 160,700 units. With this, Maruti ensured that the premium hatchback maintained its dominant position in the market where it was first launched in 2005.

Swift created a record

Swift took five years to reach five lakh in sales by 2010 and, like its name, it doubled to 10 lakh by 2013. At the same time, it took another five years to reach the next five million sales.
Shashank Srivastava, executive director and head of marketing sales, Maruti Suzuki, said that, Maruti Suzuki Swift has been the best-selling premium hatchback in the country in the last 15 years with over 2.3 million customers. He further said that, with continued customer support, I believe that Swift will successfully achieve many more milestones in the future.

Maruti's first choice of youth

Maruti underlined that about 53% of Swift customers are under 35 years of age, which reflects the car's preference among younger buying audiences. The car's excellent design and its cabin reflect the true strength of the Swift. If sources are to be believed, the company can also launch its facelift variant soon.


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