India Economy Update - Covid-19 Recovery Driving Return To Normalcy, But Not Yet There: Nirmal Bang

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Nirmal Bang Report

In the first fortnight of February 2021, economic recovery held up. Google mobility indicators improved (except for work-place movement) while the Tom-Tom New Delhi traffic congestion index also moved up quite sharply.

Rural unemployment rate inched up most likely on lower job creation under the Mahatma Gandhi National Rural Employment Guarantee Act while urban unemployment improved, supported by economic recovery and the improving Covid-19 scenario.

The rural growth story however continues to hold up.

Rabi sowing was up 2.6% YoY at the close of the season while Kharif procurement is up 16% YoY.

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