Amazing figures of Indian economy scaring China – Dainik Savera Times

[ad_1]

New Delhi : China and many other countries of the world are living in the shadow of recession but India’s economy is booming. Good news is coming one after the other for the Indian economy. GDP growth was the best in a year and GST collection increased by 11 percent in August. Manufacturing PMI, auto dispatch, electricity consumption, jet fuel sales, railway freight, coal production and UPI transactions hit records.

Perhaps this is the reason why Chinese President Xi Jinping is shying away from visiting India. He was supposed to come to India to attend the meeting of G-20 countries but he is trying to avoid it. According to a recent survey by S&P Global, the Purchasing Managers’ Index (PMI) for the manufacturing sector stood at 58.6 in August, which is a 3-month high.

This indicates that there has been a good pick-up in manufacturing activity in August. In July it was 57.7. It remained above 50 for the 26th consecutive month in August, reflecting expansion in manufacturing activity and indicating that the manufacturing sector is improving in the country.

Source link

The post Amazing figures of Indian economy scaring China – Dainik Savera Times appeared first on India The News.

Leave a Reply

Your email address will not be published. Required fields are marked *