There Will Be Sharp Increase In GDP In The Coming Quarters

There will be a sharp increase in GDP in the coming quarters, the unemployment rate was 6.9 percent in September as compared to 8.3 percent in August.

With the economy picking up pace, GDP growth is expected to pick up in the coming quarters. Industry organization PHDCCI said this on Sunday.

Of the 12 key economic and business signals that the organization monitors, nine showed a sharp increase in September 2021. Whereas in the month of August this happened only in six signs.

Pradip Multani, Chairman, Ph.D. Chamber of Commerce and Industry (PHDCCI), said, “The sharp rise in key economic and business signals in recent months suggests that the economy is picking up and strong economic growth is expected in the coming quarters. ‘

However, he suggested that at this juncture there is a need to address problems like high raw material prices and shortage of raw materials to support consumption and private investment in the country.

The industry body said that GST collections, stock market, UPI transactions, exports, exchange rate, foreign exchange reserves, consumer price index, wholesale price index, inflation rate, and unemployment rate recorded continuous positive growth in September 2021 as compared to August 2021. is of.

Apart from this, the unemployment situation improved to 6.9 percent in September 2021 from 8.3 percent in the previous month.

The gross domestic product (GDP) had declined by 24.4 percent in the April-June quarter of the last financial year 2020-21.

The reason for this was to impose a nationwide ‘lockdown’ for the prevention of corona during April-May last year.

Recently, Petroleum Minister Hardeep Singh Puri had expressed confidence that India will become a five trillion dollar economy by 2024-25 and 10 trillion dollar economy by 2030.

On the pace of economic growth, he had said that the consumption of petrol is 16 percent and diesel consumption is 10-12 percent more than the pre-corona levels.

India proposes to provide subsidies to fishermen in WTO.

India has proposed at the World Trade Organization (WTO) that “a WTO member country can provide subsidies to its fishermen if it maintains stocks at a biologically sustainable level, as per a proposal submitted by India last month.” ”

Giving information, an official also said that, India has also proposed that, “Countries engaged in fishing in distant waters are eligible for the implementation of the Fisheries Subsidy Agreement.