The economy is consistently paving the way toward higher growth trajectory: PHD Chamber
The economy is consistently paving the way towards a higher growth trajectory, indicated by the noteworthy, strong, and sustained performance of the key economic indicators in recent months, said Mr. Pradeep Multani, President, PHD Chamber of Commerce and Industry, in a press statement issued here today.
The PHDCCI Economy GPS Index for March 2022 has increased to 138.6 as compared to 129.8 for February 2022, marking the new highest of FY 2022, said Mr Pradeep Multani.
PHDCCI Economy GPS Index captures the momentum in supply-side business activity through growth in GST collections, demand-side consumer behaviour through volume growth in passenger vehicle sales and sensitivity of policy reforms, and impact of the domestic and international economic and business environment through the movement of SENSEX at the base year of 2018-19=100, said the Industry Body.
Passenger vehicles growth, which is a significant demand indicator in GPS index, has recorded a sequential growth of 22%, increasing from 262,984 units in February 2022 to 321,375 units in March 2022, said Mr. Pradeep Multani.
The gross GST collection in March 2022 is all time high breaching earlier record of Rs 1,40,986 crore collected in the Month of January 2022 and has recorded a sequential growth of 6.8% in March 2022, increasing from Rs. 1,33,026 crore in February 2022 to Rs. 1,42,095 crore in March 2022, said Mr. Pradeep Multani.
The sequential growth of SENSEX (average of daily close) has decreased by 2.2% in March 2022 from 57698 in February 2022 to 56404 in March 2022, amid the recent geo-political tensions, said Mr. Pradeep Multani.
This article was shared with Prittle Prattle News as a Press Release.
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