Five states leading Indian economy to recovery
Published On: Tuesday, June 2, 2020 | By: Team KnowMyStock
Five Indian states contributing nearly 27% of the country’s gross domestic product are leading a recovery in the economy as it slowly emerges from the world’s biggest lockdown, a study shows. Kerala, Punjab, Tamil Nadu, Haryana, and Karnataka have seen a pickup in activity, based on an analysis of indicators such as power consumption, traffic movement, the arrival of farm products at wholesale markets and Google mobility data, etc. Some of the most industrialized states such as Maharashtra and Gujarat were trailing because of tough measures still in place to contain the Covid-19 pandemic, the study showed. India will begin a phased lifting of the nationwide lockdown from June 8, allowing shopping malls, restaurants, and places of worship to reopen in areas where virus infections are under control.
The best stimulus India can have is resumption of normal economic activity. The country is witnessing an improvement in activity but it remains sporadic.” the experts opinied.
The analysis showed there was pent-up demand for salon services, air conditioners, air travel, bikes, vacuum cleaners and washing machines. Searches associated with panic-buying when the lockdown was first announced -- such as pharmacy and grocery stores and liquid soaps -- have eased. Consumers haven’t given up looking for items such as earphones, hair oil, laptops, mobile phones, jewelery, mops, toys and microwave ovens.
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