new Delhi. The country’s economy is witnessing a slight rise before the possible second arrival of the corona virus in India. The relief for the government is that after the GST collection, the manufacturing sector has now reached 59 levels in PMI. Whereas last month, the manufacturing PMI of the country reached a 10-month high. According to experts, the way the lockdown has been opened, the benefits are now being seen. Let us also tell you what kind of figures of manufacturing PMI have come out.
Manufacturing PMI boom
With the thrust of economic activity after the lockdown, manufacturing activity has registered a rapid growth in view of the festive season. The manufacturing PMI rose to 58.9 in October this year. Earlier in September this year, the manufacturing PMI had witnessed a rapid growth when it had risen to 56.8, the highest level since May 2010.
GDP can be below 6 percent below zero
Analysts say that given the manner in which manufacturing activities are accelerating after the lockdown, the GDP growth rate in the current financial year may be just below 6 per cent. However, earlier, analysts were expecting it to be below 10 per cent. He says that the Indian economy is now slowly returning to track and it will only be able to grow at a fast pace.