Indian economic activity rebounded in July after the implementation of the pan-India Goods and Services Tax (GST), following a moderation in growth in the previous month, American investment banker Jefferies said on Tuesday.
"Economic activity saw a sharp rebound in July, post the GST-led moderation in June, with our Activity Index growth improving to best levels in 9 months led by consumption indicators," Jefferies said in a report titled "Growth rebounds from GST lows".
Jefferies said the key positive in July was the sharp acceleration in auto sales and uptick in electricity consumption and railway traffic.
SUBSCRIBE FREE NIFTY FUTURE TIPS FROM HERE >> http://ripplesadvisory.com/nifty-future-.php
The key negatives were the moderation in foreign trade and consequently port traffic and the weak credit growth, it added.
Weak credit growth and low private investment has been an ongoing problem in India for some time now.
Indian economic activity rebounded in July after the implementation of the pan-India Goods and Services Tax (GST), following a moderation in growth in the previous month, American investment banker Jefferies said on Tuesday.
No comments:
Post a Comment
Note: only a member of this blog may post a comment.