Republic Day 2021: The entire world has been affected not only by the havoc of Corona. Within the year 2020, there has been a big decline in all sectors. But among all these, agriculture has been the only sector in which growth has been recorded. Everyone got a chance to learn and learn something on the digital platform. Facilities like work-form-home also started.
Positive growth in agriculture
The agriculture sector grew by 3.4 percent in the first quarter (April to June) of the current fiscal year 2020. Last year, the agriculture sector grew by three percent in the same quarter of 2019-20. That is, agriculture has shown better than the past. GVA growth in the construction sector declined by 50.3 per cent in the first quarter of the current financial year compared to a growth of 5.2 per cent in the same quarter a year ago. Mining sector production declined by 23.3 per cent as compared to a growth of 4.7 in the same quarter 2019-20 a year earlier. The electricity, gas, water supply and other utility services sectors also declined by 7 per cent in the first quarter of 2020-21 as compared to 8.8 per cent growth in the same quarter of 2019-20 a year earlier.
With the introduction of the vaccine, all sectors have regained momentum. From Budget 2021, all classes of people and all sectors have high hopes for growth. A good package can also be announced by the government in the budget this year as an aid to the industrial sector.
The appearance of education also changed with the arrival of the Corona epidemic. In a situation like lockdown for education, options started to exist. Many mobile apps developed for online education. The prevalence of online audio-video classes increased. Companies also got the option of work-from-home. Most companies are in favor of work-from-home.
Demand for personal transport has increased after the Corona vaccine and data reduction. As markets have started opening up, demand for two-wheelers, passenger cars, etc. has reached a level before the Corona. Demand for tractors is also strong.
This sector can be positively startling. By the way, there will be some pressure from accounts taking Moratorium facility. However, due to the already raised capital from banks and the provisioning of Kovid, the impact will not be much. Lower base may also increase overall profit.
Kovid also made its way into smaller cities, leading to job losses and salary cuts, which were other reasons that reduced demand for premium producers. But now after the introduction of the vaccine, this sector has also caught pace.
The healthcare segment continues to perform well on the export front. The main reason is the high demand, the launch of new products and the fall in the rupee value against the dollar. However, it may only record average growth on an annual basis due to weak domestic demand.